Six Points on Class
1. We need to change the understanding of class in the United States, going from the division of “rich and poor” to the division of “worker and capitalist.” | more…
2006
Remembering John Kenneth Galbraith
When my father, Paul Sweezy, died at the end of February 2004, John Kenneth Galbraith, or Ken, as he preferred to be called, in- vited my mother to gather her children and come talk. He told us that the New York Times and other newspapers had called to in- terview him for Paul ‘s obituary but he had declined. He felt bad about doing so, but he said, their questions focused on political differences and that is not what he wanted to say about Paul | more…
June 2006 (Volume 58, Number 2)
Notes from the Editors
In April 2000 Robert W. (Bob) McChesney and John Bellamy Foster joined Harry Magdoff and Paul Sweezy as coeditors of MR. In December 2002, while still coeditor of MR, Bob, working in close collaboration with journalist John Nichols and campaign finance reform advocate Josh Silver, launched Free Press, a nonpartisan media reform organization. From the start Free Press was unique in three ways: (1) it took on the entire gamut of media policy issues with the idea of building a unified grassroots coalition against the corporate-dominated media; (2) it sought to draw popular organizations into the movement for media reform, including organized labor, educators, feminists, civil rights organizations, and environmentalists (and was willing to ally with conservative groups committed to the principles of a free and open media system); and (3) it was dedicated to taking the offensive on media issues by sponsoring legislation in cooperation with members of Congress in an effort to change the status quo. By 2004 Bob’s growing responsibilities as founder, president, and board chairman of Free Press, in addition to his already arduous teaching, writing, and speaking commitments, compelled him to resign as MR coeditor, though he remains a director of the MR Foundation | more…
A Warning to Africa: The New U.S. Imperial Grand Strategy
Imperialism is constant for capitalism. But it passes through various phases as the system evolves. At present the world is experiencing a new age of imperialism marked by a U.S. grand strategy of global domination. One indication of how things have changed is that the U.S. military is now truly global in its operations with permanent bases on every continent, including Africa, where a new scramble for control is taking place focused on oil | more…
Three Moments of the French Revolt
In quick succession in May and October-November 2005 and in April 2006, French society experienced three moments of what is clearly a major revolt against neoliberalism. To understand these new class struggles in France and where they might lead it is necessary to view these three moments of revolt together as part of a single dialectical movement-full of contradictions and hidden potentials | more…
Conditions of the Working Classes in China
This article is based primarily on a series of meetings with workers, peasants, organizers, and leftist activists that I participated in during the summer of 2004, together with Alex Day and another student of Chinese affairs. It is part of a longer paper that is being published as a special report by the Oakland Institute. The meetings took place mainly in and around Beijing, as well as in Jilin province in the northeast, and in the cities of Zhengzhou and Kaifeng in the central province of Henan. What we heard reveals in stark fashion the effects of the massive transformations that have occurred in the three decades following the death of Mao Zedong, with the dismantling of the revolutionary socialist policies carried out under his leadership, and a return to the “capitalist road,” leaving the working classes in an increasingly precarious position. A rapidly widening polarization-in a society that was among the most egalitarian-is occurring between extremes of wealth at the top and growing ranks of workers and peasants at the bottom whose conditions of life are daily worsening. Exemplifying this, the 2006 Fortune list of global billionaires includes seven in mainland China and one in Hong Kong. Though their holdings are small compared to those in the United States and elsewhere, they represent the emergence of a full-blown Chinese capitalism. Rampant corruption unites party and state authorities and enterprise managers with the new private entrepreneurs in a web of alliances that are enriching a burgeoning capitalist class, while the working classes are exploited in ways that have not been seen for over half a century | more…
The Unanswered Questions
When Anne Braden, who died last March 6, aged 81, began covering criminal justice for her hometown paper, the Louisville (Kentucky) Courier-Journal, in 1947, it did not take her long to conclude that the real story was not the trials she saw but the class- and race-based injustices perpetrated by the legal system itself. Very quickly she and her husband, Carl Braden, a labor reporter for the same paper, understood that the system of white supremacy underpinning the segregation and violent intimidation and repression of African Americans was at the heart of a system of social control that supported the rapacious capitalism of the post-Second World War South. White supremacy created the climate in which the steel, automobile, and textile industries exploited a low-wage work force in a union-free environment. Segregation kept sharecropping farm labor in much the same condition as it had been since the end of the Civil War | more…
The New History of the Weather Underground
Dan Berger, Outlaws of America: The Weather Underground and the Politics of Solidarity(San Francisco: AK Press, 2006), 450 pages, paperback, $20.00.
Despite its many detractors and small numbers, the Weather-man/Weather Underground Organization has emerged in the past ten years as a major topic in the growing history of the 1960s. Many of those who knew the group during its existence—personally or in name only—often wonder why this is so. After all, goes this train of thought, Weatherman/Weather Underground represented all that was wrong with the movement against the war in Vietnam and against racism. The group encouraged violence and represented the epitome of arrogance. What about the rest of us? | more…
May 2006 (Volume 58, Number 1)
Notes from the Editors
When MRzine was launched on Bastille Day, July 14, 2005, Eduardo Galeano greeted it with the words: “Monthly Review in conquest of the air? Wasn’t it a private kingdom of weapons, toxics, and lies? Great news for all of us, humble terrestrians.” | more…
The Household Debt Bubble
It is an inescapable truth of the capitalist economy that the uneven, class-based distribution of income is a determining factor of consumption and investment. How much is spent on consumption goods depends on the income of the working class. Workers necessarily spend all or almost all of their income on consumption. Thus for households in the bottom 60 percent of the income distribution in the United States, average personal consumption expenditures equaled or exceeded average pre-tax income in 2003; while the fifth of the population just above them used up five-sixths of their pre-tax income (most of the rest no doubt taken up by taxes) on consumption.1 In contrast, those high up on the income pyramid-the capitalist class and their relatively well-to-do hangers-on-spend a much smaller percentage of their income on personal consumption. The overwhelming proportion of the income of capitalists (which at this level has to be extended to include unrealized capital gains) is devoted to investment. | more…
The End of Retirement
An esteemed colleague read three paragraphs of news clip on employer pensions before he realized it was from the satirical newspaper The Onion. The tip off was the interview with an eighty-seven-year-old machine shop worker struggling with widowhood, high stress, and early stage Alzheimer’s at General Electric. Early stage Alzheimer’s was the first clue, not the eighty-seven-years of age. Satire writers must have a holy grail of seconds before the earnest reader starts chuckling; my colleague’s delay might be a record. It takes three seconds to know “Cindy Sheehan loses second son in Katrina” is a lampoon. The reason it took so long to laugh at a news story that GE was adopting a new policy of “lifetime” jobs and a new forty-five-year vesting period for their pensions is that it is credible; the signs of the end of retirement are all around | more…
Trouble, Trouble, Debt, and Bubble
The questions regarding U.S. macroeconomic policy these days come down to whether the country can keep borrowing. Can consumers keep spending by increasing their debt level? Can the federal government keep running a large budget deficit without serious problems developing? Can the U.S. current account deficit keep growing? Will foreigners keep buying government bonds to cover this growing debt? If the answer is no to such questions, we can expect serious trouble and not just for the United States but for the rest of the world, which has grown used to the United States as the consumer of last resort. The United States buys 50 percent more than it sells overseas, enough to sink any other economy. In another economy, such a deficit would lead to a severe devaluation of the currency, sharply inflating the price of imports and forcing the monetary authorities to push interest rates up considerably | more…
The Neoliberal ‘Rebirth’ of Development Economics
velopment economics, as a branch of economics that attempts to show how the world’s poor economies can develop, had its origins in the 1940s and 1950s. One of its earliest ideas was that the economies of the less developed countries were mired in a cycle of poverty and needed a “big push” to develop. This push was seen as a large boost in investment, helped by the state’s infrastructural and social spending, as well as by private foreign capital spending and aid from the governments of the developed nations | more…