The Clock Slows Down
October 1, 2017
Despite its inherent hazard of excess capacity, capitalism is distinguished by the vast, long-run expansion of its productive forces. How come? To answer this, we need to move from theory to history.
Reprise
October 1, 2017
Despite its inherent hazard of excess capacity, capitalism is distinguished by the vast, long-run expansion of its productive forces. How come? To answer this, we need to move from theory to history.
January 1, 2017
December 1, 2015
On February 29, 2000, a first-grader in the Buell Elementary School in Flint took a semi-automatic rifle to school and fatally shot his classmate, six-year-old Kayla Rolland. Since then, there have been countless stories about the tragedy in the media. Those I have read or heard have focused on the chaos in the boy's family and/or guns in the home and community. All have avoided saying that Buell School is in Flint. Instead they have located it in "Mt. Morris Township, somewhere near Flint."… Buell Elementary School is in the Flint Beecher school district, and has a Flint address and a Flint phone number. But Flint officials, in collusion with GM, deny that Buell is in Flint, which has been known as Buick City. They want to dissociate GM from the devastation and violence that have overtaken the city since the Buick plant closed down.… I was in Flint a couple of weeks before the Buell shooting and GM's responsibility for the city's disintegration is as plain as day. A generation ago, Flint was a thriving working-class town. Now the abandoned Buick plant, spread out over an area as large as Detroit's downtown, sits like a ghostly monster in the midst of empty parking lots, surrounded by block after block of tiny houses, little more than shacks, which once housed GM workers. No wonder Flint suffers from one of the highest per capita rates of murder, rape, and theft in the country.
May 1, 2015
January 1, 2015
Pete Seeger is an environmental advocate who understands the transforming power of immersion in nature. However, his desire to restore his cherished Hudson River posed a monumental challenge in the 1960s. The Hudson River, once so majestic that it inspired the Hudson River School painters, had become a sewer for the communities and commercial industries that populated its shoreline. Seeger’s approach to reversing the degradation of the Hudson River involved a unique form of advocacy and organizing. He envisioned healing the Hudson through immersion. His approach involved bringing people back to the river aboard a 106-foot replica of a Hudson River sloop (a single-masted sailboat), one that resembled the boats that traversed the Hudson in centuries past. By 1969, with Seeger as the driving force behind its creation, the sloop Clearwater was constructed and launched. It still sails today and serves as an inspiring symbol of citizen activism on behalf of the natural environment.
January 1, 2015
By vocation, Marx was not an economist, or a philosopher, or a sociologist. He was a revolutionary who, being deprived of the opportunity of participating in revolutions in the years after 1848, turned to the detailed analysis of the economic system he wanted to overthrow. Marx never ceased to stress the liberating quality of practical activity; but he himself was compelled by the circumstances of his time to devote most of his life to theoretical work.
December 1, 2013
April 1, 2013
January 1, 2013
The question of "underconsumptionism" is a tangled one—due not only to the commonplace fallacy associated with what is known as "crude underconsumptionism," but also because the term has been used at various times to refer to what Joseph Schumpeter in his History of Economic Analysis called "non-spending" or effective demand theories (the second in a typology of underconsumption theories designated by Schumpeter). Underconsumption in this sense, however, would encompass theorists like Keynes and Kalecki who focus not on underconsumption per se, but on underinvestment. Hence, the term is no longer applied to theories of this type (except by some Marxian critics of "underconsumptionism").… In the following exchange with Jonathan Penzner published in the April 1982 issue of Monthly Review, Harry Magdoff and Paul Sweezy, then editors of the magazine, pointed to the fallacy of crude underconsumptionism.
December 1, 2012