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The New Stage of Globalization

by Harry Magdoff

July 1, 2015

By the end of 1990, foreign direct investment—that is, investment in manufacturing, real estate, raw materials, extraction, financial institutions, etc., made by capitalists of all lands outside their national borders—reached over $1.5 trillion…. [W]hat is significant about this number is not only its size but the unprecedented speed with which it has grown in the last two decades: the amount directly invested in foreign lands nearly tripled in the 1980s alone…. This upsurge and diversification of globalization has been introducing new economic and political features in the countries of both the periphery and the core. In the periphery, foreign capital has penetrated more widely and deeply than ever before. In the core, this change of direction has helped produce in the world's key money markets an extraordinary spiraling of credit creation, international flows of money capital, and speculation.

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The Creation of the Next Imperialism: The Institutional Architecture

by Jayati Ghosh

July 1, 2015

Insofar as imperialism is about the struggle over and capture of economic territory (which must be broadly defined to include not just geographical territory such as land and natural resources, but also the creation of new markets, sources of labor, and forms of surplus transfer such as are reflected in intellectual property), these changes [in imperialism since the early 20th century] have created distant demands upon imperialist structures and processes…. [So] how can capital (which is increasingly global in orientation) generate the superstructures through which the transfers of value are ensured and the investment risks are moderated and contained? It will be argued that there has been an endeavor to resolve this by refashioning the global institutional architecture in ways that operate to increase the conditions of "stability" for large capital while increasing its bargaining power vis-à-vis working people and citizens, as well as nation-states and even smaller capitalist enterprises.

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Notes from the Editors, June 2015

Notes from the Editors, June 2015

by The Editors

June 1, 2015

In two Monthly Review special issues, "Education Under Fire: The U.S. Corporate Attack on Students, Teachers, and Schools" (July-August 2011) and "Public School Teachers Fighting Back" (June 2013), we sounded an alarm regarding the rapid restructuring and privatization of U.S. K–12 public schools. In terms of the scale of nationwide restructuring, the corporate takeover of education is unprecedented in modern U.S. history. The closest comparison we can come up with is the destruction of the street car systems across the United States and the building of the interstate highway system—in which freeways went right through cities for the first time, often in the face of neighborhood and community resistance. With respect to K–12 education, unimaginable amounts of private funds have gone into pressuring and corrupting government at every level, while the control mechanisms of the new educational system are increasingly left in private, not public, hands. The Common Core Standards and related high-stakes tests are at the center of this new system, and are the product of private corporate groups outside the direct reach of government.

Late Soviet Ecology and the Planetary Crisis

by John Bellamy Foster

June 1, 2015

Soviet ecology presents us with an extraordinary set of historical ironies. On the one hand, the USSR in the 1930s and '40s violently purged many of its leading ecological thinkers and seriously degraded its environment in the quest for rapid industrial expansion. The end result has often been described as a kind of "ecocide," symbolized by the Chernobyl nuclear accident, the assault on Lake Baikal, and the drying up of the Aral Sea, as well as extremely high levels of air and water pollution. On the other hand, the Soviet Union developed some of the world's most dialectical contributions to ecology, revolutionizing science in fields such as climatology, while also introducing pioneering forms of conservation. Aside from its famous zapovedniki, or nature reserves for scientific research, it sought to preserve and even to expand its forests.

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South Africa: Exploding with Rage, Imploding with Self-DoubtÑbut Exuding Socialist Potential

by Patrick Bond

June 1, 2015

The fast-reviving South African left is urgently coming to grips with the most acute national crises of structure and agency the country has experienced since the historic freeing of Nelson Mandela in February 1990 and the shift of the entire body politic in favor of the African National Congress (ANC) and the South African Communist Party (SACP).… The subsequent rise in unemployment, inequality, poverty, and environmental degradation soon reached some of the worst levels in the contemporary world. The consequent social unrest is now so high that President Jacob Zuma…promised increased "public order policing" personnel and the purchase of a new generation of technologically advanced weapons, including sonar canons…. In this conflagration, what survived of the left is now growing by leaps and bounds. Within a decade, it may become a force capable of an electoral challenge to the ANC for state power. But much will depend upon how it regroups amidst shards of splintered radical projects, with myriad questions hotly debated in the movement.

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The “New Turkey”: Fetishizing Growth with Fatal Results

by Zuhal Yeşilyurt Gündüz

June 1, 2015

Turkey's ruling party has turned the country, which it calls "the new Turkey," into a capitalist nightmare: a triad of neoliberal economics, political despotism, and Islamist conservatism. This article provides an overview of neoliberalism in Turkey, then looks at the government's extraction policies, highlighting the Soma mine massacre as one tragic example of the destructive policies of the governing party, the Adalet ve Kalkınma Partisi (AKP, Justice and Development Party). It also examines the extreme authoritarianism of President Recep Tayyip Erdoğan (formerly prime minister), and the growing cultural-relgious conservatism, which the AKP has interlaced with Islamist rhetoric. This hegemonic triad of neoliberalism, despotism, and conservatism is an especially dangerous one. However, it is being increasingly criticized, and resistance movements against neoliberal policies are growing. All of this gives some hope for Turkey's future.

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Boycott, Divestment, and Sanctions at Ten Years: Reflections on a Movement on the Rise

by Max Ajl

June 1, 2015

Rich Wiles, editor, Generation Palestine (London: Pluto Press, 2013), 256 pages, $24, paperback.
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When in March 2012, Barack Obama paused briefly from approving orders for drone killings of Pakistani and Yemeni villagers, in order to reassure the attendees at the annual gala of the AIPAC (American-Israel Public Affairs Committee) that, "when there are efforts to boycott or divest from Israel, we will stand against them," the real target of his declaration was elsewhere: the myriad grassroots organizers across the world who have made the global Boycott, Divestment, and Sanctions (BDS) campaigns unignorable. Their mounting influence has provoked efforts to declare them anti-Semitic or illegal from London to Long Beach. In fact, the series of victories across the University of California system has so annoyed its managers that they have hauled in the Caesar of domestic repression, Janet Napolitano, to deal with campus activists. Obama's declaration of support for Israeli colonialism had a simple message to those many activists: back down, because Washington will not.

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Notes from the Editors, May 2015

Notes from the Editors, May 2015

by The Editors

May 1, 2015

As we write these notes in March 2015, the Pentagon's official Vietnam War Commemoration, conducted in cooperation with the U.S. media, is highlighting the fiftieth anniversary of the beginning of the U.S. ground war in Vietnam, marked by the arrival of two Marine battalions in De Nang on March 8, 1965. This date, however, was far from constituting the beginning of the war. The first American to die of military causes in Vietnam, killed in 1945, was a member of the Office of Strategic Services (a precursor of the CIA). U.S. intelligence officers were there in support of the French war to recolonize Vietnam, following the end of the Japanese occupation in the Second World War and Vietnam's declaration of national independence as the Democratic Republic of Vietnam. The French recolonization effort is sometimes called the First Indochina War in order to distinguish it from the Second Indochina War, initiated by the United States. In reality, it was all one war against the Viet Minh (Vietnamese Independence League). By the time that the Vietnamese defeated the French at Dien Bien Phu in 1954, the United States was paying for 80–90 percent of the cost of the war.

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Honor the Vietnamese, Not Those Who Killed Them

Honor the Vietnamese, Not Those Who Killed Them

by Michael D. Yates

May 1, 2015

In a letter to Vietnam War veteran Charles McDuff, Major General Franklin Davis, Jr. said, "The United States Army has never condoned wanton killing or disregard for human life." McDuff had written a letter to President Richard Nixon in January 1971, telling him that he had witnessed U.S. soldiers abusing and killing Vietnamese civilians and informing him that many My Lais had taken place during the war. He pleaded with Nixon to bring the killing to an end. The White House sent the letter to the general, and this was his reply.… McDuff's letter and Davis's response are quoted in Nick Turse's Kill Anything That Moves: The Real American War in Vietnam, the most recent book to demonstrate beyond doubt that the general's words were a lie.… In what follows, I use Turse's work, along with several other books, articles, and films, as scaffolds from which to construct an analysis of how the war was conducted, what its consequences have been for the Vietnamese, how the nature of the war generated ferocious opposition to it (not least by a brave core of U.S. soldiers), how the war's history has been whitewashed, and why it is important to both know what happened in Vietnam and why we should not forget it.

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The Strength and Fragility of the Brazilian Economy

by Paulo Nakataniand Rosa Maria Marques

May 1, 2015

Analyzing the Brazilian economy is a difficult and complex task; the current indicators register results ranging from excellent to mediocre and worrisome, depending on the variable observed. For example, the nation has advanced into modernity in a few sectors, while at the same time, in recent years, new forms of dependency from the center of capitalism deepened. Further complexities arise when, beyond the economy, one takes into consideration not only the results of so-called "inclusion" policies and the popularity of President Dilma Rousseff (popularly referred to as "Dilma"), but also the number of strikes and public displays of disenchantment that are emerging in every corner of the country.… To summarize some of the conclusions: since the government of Luis Inácio Lula da Silva ("Lula"), the Brazilian economy has widened its internal market through policies that have raised the minimal wage, transferred income to the poorest within the nation, increased the availability of credit to the low and middle segments of the population, and reduced taxation (mainly on manufactured goods in the essential consumption basket). Such widening of the market, with a low impact on imports, would in theory ensure the maintenance of a certain level of growth, regardless of the international dynamics, and, indeed, it has helped Brazil reach a positive economic performance during the worst of the recent global economic crisis and its aftermath.… Nonetheless, when the impacts of the global recession deepened with the sovereign debt crisis in Europe, these macroeconomic policies did not yield the same effect, at most achieving modest growth.

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