In 2004, Washington launched a whole new strategy of financial war, based on the role of the U.S. dollar as the hegemonic foreign-exchange currency, to cut off the economic circulation of targeted states. The United States has created, as part of its “rules-based international order,” a coercive global framework extending U.S. financial jurisdiction to every country, economic entity, and person engaged at any point in U.S. dollar transactions anywhere in the world. | more…
This special issue of Monthly Review is devoted to the New Cold War on China. What has been the view of the Chinese Revolution presented in Monthly Review in the past seven decades? How has it changed over time? As Paul A. Baran observed: “Marx and in particular Lenin being master-tacticians shifted horses and arguments as conditions changed (rightly so, to be sure!)” The question then becomes not the changing views themselves, but how these shifts in perspective reflect changing historical circumstances. | more…
Where capitalism itself is concerned, the dominant view is that the COVID-19 crisis constitutes a rare, unpredictable, and unlikely to be repeated occurrence. The world capitalist economy, we are informed, was fundamentally sound prior to the advent of this unforeseen exogenous shock, and it will revive quickly once the SARS-CoV-2 virus is under control. This received view, however, is incorrect on all counts. | more…
In 1884, important figures in England’s budding socialist movement broke with the Social Democratic Federation over concealed jingoism and strong support for the British Empire. A similar division within the broad left on the issue of imperialism is threatening to reappear in our time. | more…
Many factors are involved in COVID-19 mortality rates. Nevertheless, it is clear that the more socialist-oriented countries—by prioritizing social needs and public health, plus aggressive testing, tracing, and enlisting the aid of their populations—have generally been more effective in limiting the effects of the disease on their societies. The failure of the wealthier capitalist countries to do so is largely a result of their prioritization of profits over people. | more…
Despite all of the inevitable contradictions, China stands out in the present planetary emergency in having advanced an ambitious vision of ecological civilization with the strong support of the Chinese population. Paraphrasing C. Wright Mills on Cuba, we do not worry about China’s struggle to create an ecological civilization. We worry with it. | more…
We remember our good friend and comrade, Leo Panitch, one of the great socialist intellectuals of all time, who died on December 19, 2020, age 75. | more…
We are extremely pleased to announce that John Bellamy Foster, editor of Monthly Review, has won the prestigious Deutscher Memorial Prize for 2020 for his The Return of Nature: Socialism and Ecology. | more…
The United States is now in a New Cold War with Russia and China, with the focus increasingly on the latter and involving a direct challenge to U.S. hegemony over the world economy. | more…
In this issue of Monthly Review, we publish two articles marking the two-hundredth anniversary of the birth of Frederick Engels. In the attempt to address our planet’s ecological crisis, Engels’s work has once acquired a renewed importance. His analysis of the dialectics of nature was to play a formative role in the development of modern ecological and evolutionary views and is now being rediscovered in that context. | more…
This special issue of Monthly Review, “China 2020,” is the product of a long period of cooperation with critical Chinese Marxist scholars. This has resulted in an extensive series of articles on contemporary Chinese social and economic relations since 2012, to which most of the authors in the present issue have previously contributed. It takes on a special significance due to the growing conflict between the United States and China, making critical Marxist analysis in this area all the more important. | more…
Climate change is just one part of a larger planetary emergency related to the crossing of planetary boundaries due to the system of capital accumulation. New diseases that can be transferred from animals to humans such as COVID-19 are another part. Knowledge of the overall planetary emergency in which the world is immersed, and its relation to capitalism, is thus crucial to our time. | more…
The entire United States has been upended by weeks of protests, extending to over 150 cities, sparked by the racist police murder of George Floyd. The present special issue of Monthly Review is devoted to exploring the complex interweaving of the classical Marxian critique with the rapidly developing critique of racial capitalism. | more…
