This year marks the eightieth anniversary of the 1929 Stock Market Crash and the beginning of the Great Depression, the worst economic crisis in the history of capitalism. However, while the Great Depression has been very much in the news of late, this is not due so much to this anniversary as to the fact that for the first time since the 1930s an economic crisis has arisen on a scale and of a nature that invites direct comparison with that earlier deep downturn, which threatened the entire system and ended in the Second World War. | more…
In the early 1990s there was near unanimity in the media, in Western political circles, and even among academics that the collapse of the Cuban revolution was imminent. Even today, many observers regard it as only a matter of time for Cuba to undergo a transition to democracy (understood as a narrowly defined polyarchy) and a “market economy.” | more…
The Cuban revolutionary victory of January 1, 1959, was a news event of epochal proportion even for those who knew little about that country. For many, it was like discovering a new world. And as in the age of the great navigators, encountering it was clouded both by ignorance and the prejudices that usually accompany such revelations. | more…
On August 19, 1960, Che Guevara gave a talk to the Cuban Militia “On Revolutionary Medicine”: “A few months ago, here in Havana, it happened that a group of newly graduated doctors did not want to go into the country’s rural areas and demanded remuneration before they would agree to go.” | more…
Over the last fifteen years, Cuba has developed one of the most successful examples of urban agriculture in the world. Havana, the capital of Cuba, with a population of over two million people, has played a prominent, if not dominant role, in the evolution and revolution of this type of agriculture. The phrase “urban agriculture in Cuba” has a somewhat different meaning, simultaneously more and less restrictive than might appear at a first glance. It is more inclusive, as it allows for large expanses, urban fringes, and suburban lands. For example, the entire cultivated area of the Province of the City of Havana belongs to urban agriculture. | more…
In 1971, Bruce Neuburger–young, out of work, and radicalized by the 60s counterculture in Berkeley–took a job as a farmworker on a whim. He could have hardly anticipated that he would spend the next decade laboring up and down the agricultural valleys of California, alongside the anonymous and largely immigrant workforce that feeds the nation. Part memoir, part informed commentary on farm labor, the U.S. labor movement, and the political economy of agriculture, Lettuce Wars is a lively account written from the perspective of the fields. | more…
The historic testimony by former Federal Reserve Board chairman Alan Greenspan before the House Committee of Government Oversight and Reform on October 23, 2008, represented such a startling turnaround for an individual previously given such nicknames as “Maestro” and “Oracle,” that it might well have been entitled “The Education of Alan Greenspan.” Taken to task for the enormous and still growing economic disaster, Greenspan acknowledged that he was “shocked and dismayed” by the emergence of what he called a “once-in-a-century credit tsunami.” In his effort to account for the complete failure of foresight at the Fed, Greenspan explained that the supposedly sophisticated asset pricing models that he and others in the financial community had relied on had been based almost exclusively on the experience of the last two decades during a period of rapid financial expansion, and had failed to incorporate the negative shocks visible from a longer-term historical perspective. As Greenspan himself put it | more…
Esteban Morales Domínguez is one of Cuba’s most prominent Afro-Cuban intellectuals and its leading authority on the race question. Available for the first time in English, the essays collected here describe the problem of racial inequality in Cuba, provide evidence of its existence, constructively criticize efforts by the Cuban political leadership to end discrimination, and point to a possible way forward. | more…
In the Notes from the Editors for the September issue of Monthly Review (written in late July) we asked why, with the United States bailing out the financial sector of the economy to the tune of hundreds of billions of dollars, there was no public outrage. As we observed at that time, “In the end there seems to be no satisfactory explanation for lack of popular protest over a series of ad hoc grants showering hundreds of billions of dollars of public money on the masters of finance, collectively the richest group of capitalists on the planet. And that raises the question: Is this outrage present nonetheless, growing underground, unheard and unseen? Will it suddenly burst forth, like some old mole, unforeseen and in ways unimagined?” The collapse of Lehman Brothers on September 15, the resulting freezing up of credit markets, U.S. Secretary of Treasury Henry Paulson’s emergency plan for a $700 billion bailout of financial firms, offering “cash for trash,” i.e., proposing to buy up the toxic waste of virtually worthless mortgage-backed securities at taxpayer expense—quickly answered our question. When the U.S. Treasury got into the act with its bailout proposal, requiring Congressional authorization (previously the Federal Reserve had led the way in bailouts, to the point that treasury securities had sunk to just over half of the Fed’s assets, as we explained in September), all hell finally broke loose. Suddenly, the public outrage that had been growing beneath the surface burst forth. The U.S. capitalist class was abruptly confronted with a major political as well as economic crisis | more…
Widely considered to be the best available introduction in English to the economies, politics, demography, social structures, environment and cultures of Latin America. This new edition is thoroughly updated and covers recent developments in Latin America such as the growing costs of export agriculture, the rise of Brazilian manufacturing, connections between the war on drugs and the war on terror, the social costs of neoliberalism, the Argentinian default, the search for new economic models in Venezuela and elsewhere, the decline in direct U.S. military intervention in the region, growing urbanization, urban poverty and casual employment, outmigration and the importance of family remittances from abroad, rampant environmental destruction, the struggles of indigenous movements, and more. | more…
The United States in the opening decade of the twenty-first century is dominated by a new imperial project that is affecting all aspects of its society. The most obvious manifestation of this (see this month’s Review of the Month) is the expansion of the military-industrial complex. However, another, in some ways even more insidious, manifestation, as Rich Gibson and E. Wayne Ross pointed out in a February 2, 2007, Counterpunch article entitled, “No Child Left Behind and the Imperial Project”, is the current assault on the nation’s public schools through the No Child Left Behind law enacted by the Bush administration with broad bipartisan support. As Gibson and Ross explained, “Any nation promising perpetual war on the world is likely to make peculiar demands on its schools…and its teachers and youth….NCLB [No Child Left Behind] is the result of three decades of elites’ struggles to recapture control over education in the U.S., lost during the Vietnam era when campuses and high-schools broke into open-rebellion and, as a collateral result, critical pedagogy, whole language reading programs, inter-active, investigatory teaching gained a foothold.” | more…
“We are sinking in the Devil’s excrement,” wrote a close observer of Venezuela’s adventures in oil. Was Venezuela’s deep culture of corruption, crime, and clientalism imaginable in the absence of the oil rents which became the supreme object of desire? Was the truncation of industry and agriculture and the vast chasm between a privileged oligarchy and an impoverished mass inevitable-given the effects of oil wealth upon a poor, developing country? | more…
