In his estimable Robin Hood: People’s Outlaw and Forest Hero, it is Paul Buhle’s contention that in the almost eight centuries of his legendary existence, Robin has had his time come periodically but seldom more than now. With barbarians, foreign and domestic, at the gates whenever they are not in the palaces, the need for […]
Archive | 2012
2012 Issues
April 2012 (Volume 63, Number 11)
For decades we have been arguing in Monthly Review that stagnation is the normal state of the mature monopoly-capitalist economies. Today the reality of stagnation is increasingly gaining the attention of the corporate media itself.… For those accustomed to thinking of the capitalist economy as either growing rapidly or occasionally falling into a severe crisis (from which it […]
The Bull Market
The United States is in the midst of its quadrennial presidential election, a process that now extends so long as to be all but permanent. The campaign is also drenched in more money given by a small handful of billionaires than has been the case in the past. Since the 1970s the amount spent on […]
Sado-Monetarism
Economist Edwin Dickens has written a series of significant articles analyzing the minutes of the meetings, dating back to the 1950s, of the Open Market Committee of the Federal Reserve Board. (The Committee is the main policy-making body of the Board.) Dickens’s research shows convincingly that the Federal Reserve’s partisan behavior is designed to tilt […]
Faux Internationalism and Really Existing Imperialism
If truth is the first casualty of war, military intervention in the name of humanitarian ideals should likewise be the subject of skepticism. Such an approach is called for as the discourse of the Responsibility to Protect civilian populations is becoming a doctrinal principle in the West’s foreign policy toolbox. The notion that these big […]
Red State Irony
The last four or five decades have seen extraordinary economic and population growth in the southern states of the United States, continuing historic developments that started during the Second World War and were later stimulated by the end of legal racial segregation. One national effect of those changes has been a continual shift in the […]
Fredric Jameson on the Reserve Army
In the opening pages of The Limits to Capital, published in 1984, David Harvey jokes that everyone who reads Marx’s Capital seems bound to write a book about it. In 2012, we might well ask: Just one? Last year, many of the long-standing academic Marxists unleashed new introductory works, including Terry Eagleton, David Harvey, Eric […]
March 2012 (Volume 63, Number 10)
As we write this, in late January 2012, international representatives of the ruling class and its power elite—wealthy investors, corporate executives, politicians, state bureaucrats, economists, pundits, and sundry celebrities—are gathered at the World Economic Forum in Davos, Switzerland to discuss the state of the world. Today there is no disguising the fact that some five […]
The Great Inequality
Growing inequality of income and wealth have characterized the U.S. economy for at least the past thirty years. Today, this inequality has become a central feature of politics, both mainstream and within such radical uprisings as the Occupy Wall Street phenomenon. This essay attempts to uncover the roots of inequality, showing that the source of […]
Structural Crisis Needs Structural Change
When stressing the need for a radical structural change it must be made clear right from the beginning that this is not a call for an unrealizable utopia. On the contrary, the primary defining characteristic of modern utopian theories was precisely the projection that their intended improvement in the conditions of the workers’ life could […]
Recessions and Human Misery
The National Bureau of Economic Research (NBER) decides the peak and trough dates of the business cycle. Most economists, including the government economists, accept their dates as the bible of research. Their dates do accomplish what they set out to do: they reflect the highest and lowest levels of business activity. This was the definition […]
Welcome to the Desert of Transition!
The world’s attention has been on the political transformations in the Middle East, the wave of protests from Tel Aviv to Madrid to Wall Street, and the ongoing Greek crisis. But in the shadow of this unrest, the post-socialist Balkans have been boiling. Protests displaying for the most part social demands broke out throughout 2011 […]
Reviving the Strike in the Shadow of PATCO
In the summer of 2011, labor unrest on both coasts provided a sharp rebuttal to the widely held view that the strike is dead (and buried) in the United States. Even as veterans of the Professional Air Traffic Controllers Organization (PATCO) gathered in Florida to commemorate the thirtieth anniversary of their historic defeat, a new […]