September 1, 2024
In this reprise from 1992, former MR editors Harry Magdoff and Paul M. Sweezy look toward the end of the recession then plaguing the United States, seeing choice looming on the horizon: Will the progressive left attempt to reform capitalism, or replace it entirely? Capital's inexorable thirst for growth beyond natural limits, they write, means we must choose the latter—"if we care about the future of the human species…we had better listen to the ecologists."
May 1, 2024
In this reprise from September 2000, Harry Magdoff, John Bellamy Foster, and Robert W. McChesney look forward to the future of Monthly Review in the twenty-first century: "Despite mistakes, setbacks, and recognition that the road is long and arduous, we must not waver as we continue to study, educate, and be missionaries for the transcendence of the social system of capitalism and the development…of a society of equals."
April 1, 2024
In this remarkable reprise reprinted from Monthly Review's October 1992 issue, Harry Magdoff and Paul Sweezy look ahead to the ecological crisis that has continued to unfold into the twenty-first century. Presaging the critical juncture at which we find ourselves today, they write that "only a change in the in the nature of power structures on a global scale could bring a realistic hope for the long-term continuation of human civilization…. If you think that is true, what do you think are the implications?"
May 1, 2023
In this prescient article from 1995, former MR editors Harry Magdoff and Paul M. Sweezy show that, through their own profligacy, the ruling classes have lost their capacity for political rule. The way forward, Magdoff and Sweezy write, is an "organized, militant struggle," and with victory necessarily leading to the overthrow of capitalist rule.
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March 1, 2023
In this reprise from October 1993, Henry Magdoff and Paul Sweezy ask: "Isn't there anyone around here who understands how this capitalist system works?"
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November 1, 2022
In this reprint of the February 1994 "Notes from the Editors," former MR editors Harry Magdoff and Paul M. Sweezy ask: "The United States could not have won a more decisive victory in the Cold War. Why, then, does it continue to act as though the Cold War is still on?"
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March 1, 2021
In December 2002, Isabel Crook, a Canadian anthropologist who had spent most of her life in China and a longtime friend and supporter of Monthly Review, wrote a letter to the MR editors questioning the critical nature of coverage of China's capitalist road to socialism since the ascendance of Deng Xiaoping in the late 1970s. This short exchange with Harry Magdoff reflects the complex ways in which dedicated socialists sought to address changes in China and the clarity of the ideas expressed.
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July 1, 2019
This reprise of Harry Magdoff's 1969 "A Note on the Communist Manifesto" remains as relevant as ever—perhaps even more so. While capitalism by its very nature lives by accumulation and geographic expansion, it does so in a most unequal fashion. Even though nothing in economics follows strict mathematical rules, there are notable tendencies produced by the inner springs of capitalism. An outstanding example of such a tendency is found in the distinct and marked widening of the gap between a handful of rich nations and the rest of the world. The accelerating globalization of our times demonstrates this polarization in no uncertain terms.
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.
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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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