The rise to prominence of analyses of racial capitalism represents a breakthrough in Marxian theory. This has necessarily been accompanied by a critique of previous Marxian analyses, which all too often ignored or minimized the relation of slavery to capitalism. In recent years, however, these criticisms of orthodox Marxist treatments of slavery have been extended, much more problematically, to the work of Karl Marx himself. Although Marx never wrote a treatise on slavery, the issue of slave labor was woven into his analysis of social formations, both ancient and modern, and was inextricably intertwined with his treatment of wage labor. | more…
The current massive oil glut is the product of the effects of the tight oil or shale oil revolution, which for a time turned the United States into the biggest oil and gas producer in the world. Now, suddenly as a result of an overproduction of world oil, made far worse by the sudden falloff in demand due to the COVID-19 pandemic, we are witnessing the possible euthanasia of the U.S. tight oil industry, bleeding cash even before the oil price collapse and encumbered with mountains of debt. | more…
Since the late twentieth century, capitalist globalization has increasingly adopted the form of interlinked commodity chains controlled by multinational corporations, connecting various production zones, primarily in the Global South, with the apex of world consumption, finance, and accumulation primarily in the Global North. COVID-19 has accentuated as never before the interlinked ecological, epidemiological, and economic vulnerabilities imposed by capitalism. | more…
Twenty years ago, John Bellamy Foster’s Marx’s Ecology: Materialism and Nature introduced a new understanding of Karl Marx’s revolutionary ecological materialism. More than simply a study of Marx, it commenced an intellectual and social history, encompassing thinkers from Epicurus to Darwin, who developed materialist and ecological ideas. Now, with The Return of Nature: Socialism and Ecology, Foster continues this narrative. In so doing, he uncovers a long history of efforts to unite issues of social justice and environmental sustainability that will help us comprehend and counter today’s unprecedented planetary emergencies. | more…
In its wider economic, ecological, epidemiological, and public health context, the current COVID-19 pandemic demonstrates the enormous dangers of the metabolic rift in human ecology and epidemiology brought on by capitalist social relations in the age of monopoly-finance capital, global agribusiness, and intricate, globe-spanning supply chains associated with the extreme exploitation and expropriation of both human beings and nature. Neoliberalism, representing the inner logic of capitalism, has left the world vulnerable to catastrophe wherever it has come into play. | more…
COVID-19, the illness caused by coronavirus SARS-CoV-2, the second severe acute respiratory syndrome virus since 2002, is now officially a pandemic. As of late March, whole cities are sheltered in place and, one by one, hospitals are lighting up in medical gridlock brought about by surges in patients. | more…
At the bicentenary of his birth, Frederick Engels’s reputation as an original thinker is, among Anglophone academics at least, at its nadir. Despite the recent global economic crisis and associated increases in inequality that have tended to confirm Karl Marx and Engels’s general critique of capitalism, Marxism is an optimistic doctrine that has not fared well in a context dominated by working-class retreat and demoralization. But if this context has been unpropitious for Marxism generally, criticisms of Engels’s thought have a second, quite separate, source. Over the course of the twentieth century, a growing number of commentators have claimed that Engels fundamentally distorted Marx’s thought, and that “Marxism” and especially Stalinism emerged out of this one-sided caricature of Marx’s ideas. | more…
Today, at the bicentennial of Frederick Engels’s birth, it is worth taking a brief look at Engels’s theory of the labor aristocracy, its connection to V. I. Lenin’s thinking, and the significance of these ideas in light of the current capitalist conjuncture. | more…
Karl Marx’s (and Frederick Engels’s) analysis of nineteenth-century Irish history revealed what is referred to as “the rift of Éire” in the colonial period. Indeed, it is in relation to the analysis of the systematic disruption of the Irish environment that Marx’s ecological inquiries can be seen as taking on a concrete and developed form, encompassing the ecological as well as economic robbery that characterized the Irish colonial regime. | more…
The climate crisis is proving to be antithetical to the neoliberal machines that define current forms of social organization. Reducing fossil fuel consumption, the largest contributor to climate change, requires collaborative efforts. These efforts must take into consideration the foundational role of fossil fuels in modern economies. Yet, renewables lack many of the characteristics that have made fossil fuels so desirable in production processes, limiting their ability to expropriate human labor. At the same time, climate catastrophes, such as wildfires and hurricanes, disrupt the infrastructural momentum of fossil fuel economies, destabilizing the mechanisms of capital accumulation that derive from the production and consumption of these fuels. All of these problems have come to a head in the recent crises in Chile and California. | more…
Starting in the late 1960s, the development of the productive forces of society entered a new stage: the Information Revolution, an era focused on the application of information theories such as cybernetics combined with advances in computer technology and digital communication networks, culminating in the Internet. Under capitalist conditions, this has already resulted in a knowledge economy, but the social, auto-regulatory possibilities it opens up are bound to be incompatible with the private appropriation characteristic of capitalism. | more…
