Top Menu

Global

Capital and Imperialism: Theory, History, and the Present

Those who control the world’s commanding economic heights, buttressed by the theories of mainstream economists, presume that capitalism is a self-contained and self-generating system. Nothing could be further from the truth. In this pathbreaking book—winner of the Paul A. Baran-Paul M. Sweezy Memorial Award—radical political economists Utsa Patnaik and Prabhat Patnaik argue that the accumulation of capital has always required the taking of land, raw materials, and bodies from noncapitalist modes of production. They begin with a thorough debunking of mainstream economics. Then, looking at the history of capitalism, from the beginnings of colonialism half a millennium ago to today’s neoliberal regimes, they discover that, over the long haul, capitalism, in order to exist, must metastasize itself in the practice of imperialism and the immiseration of countless people. | more…

Stuttgart Congress of the Second International 1907

The Ideology of Late Imperialism

The Return of the Geopolitics of the Second International

In 1990, when renowned Indian Marxian economist Prabhat Patnaik asked “Whatever Happened to Imperialism?,” once vibrant and influential schools of theories on imperialism were at a postwar historic low. When he left the West to return to India in 1974, imperialism was at the center of all Marxist discussions. But when he came back to the West merely fifteen years later, imperialism already seemed out of fashion. The retreat from the question of imperialism has marked a return of what we can call Second International politics. | more…

Paramedics take a patient into emergency center at Maimonides Medical Center during the outbreak of the coronavirus disease (COVID-19) in the Brooklyn borough of New York City, New York, April 7, 2020

Racial Capitalism and COVID-19

The COVID-19 pandemic has brought into sharp relief the deep structural problems affecting nonwhite racialized workers in the core and periphery. Yet, many social scientific analyses of the global political economy, at least in the pre-COVID era, are race neutral or willfully indifferent to the persistent racial pattern of global inequalities. Even if they do address legacies of colonialism, they ignore the ongoing racial logics of oppression embedded therein. | more…

Capital, Science, Technology

The Development of Productive Forces in Contemporary Capitalism

Capitalist modernity not only contains profound contradictions, but is also undergoing a significant transformation. Far from acting as a driving force for the development of social productive forces, it has become a parasitic entity with an essentially rentier and speculative function. Underlying this is an institutional framework that favors the private appropriation and the concentration of the products of general intellect. | more…

Karl Marx's tomb

A Commodius Vicus of Recirculation

Encountering Marx and Joyce

“In the mid-1990s, when I lived in central London, I used to walk past the British Museum nearly every day. More often than not, I would pop in, did so for years, getting thrilled by a couple of things. The first was entering the great Reading Room, for which I had a Reader’s Card, glimpsing and even sitting in space G-7. I never ordered any books, had no need to order anything; all I wanted was to sit there, in Karl Marx’s seat, and try to feel the vibe. Usually, there was no vibe, only the hushed shuffling and page turning of others close by, mixed with the odd cough and splutter.” | more…

Bend of Jinsha River at Shigu village, Yulong Naxi autonomous county in Lijiang, Southwest China's Yunnan province

The Ecological State

Although natural constraints on supply are important, most economic scarcities that rule our lives are actually social and artificial. Supply and demand are not natural forces drifting through the air; they are contrived realities established by an interactive social environment involving governments, corporations, institutions, and classes. Supply and demand cycles are social constructs designed to answer a basic question: Who gets what? | more…

The Ecological Revolution

Preface to the Persian Edition of The Ecological Revolution

The Ecological Revolution was first published a little more than ten years ago in April 2009, at a time when climate change had already been recognized as a pressing global issue for over two decades, but when there was still hardly any realistic discussion of its connection to capitalism or of the immense ecological and social revolution that would be required to overcome the Earth System crisis. Let us look back to understand the historical gulf separating that time from our own. | more…

Between Capitalism and Community

Between Capitalism and Community

Karl Marx, in Capital, focused on capital and the capitalist class that is its embodiment. It is the endless accumulation of capital, its causes and consequences that are central to Marx’s analysis. In taking this approach, Marx tended to obscure not only the centrality of capital’s “immanent drive” and “constant tendency” to divide the working class but also the political economy of the working class (“social production controlled by social foresight”). In Between Capitalism and Community, Lebowitz demonstrates that capitalism contains within itself elements of a different society, one of community. If we are to escape the ultimate barbarism portended by the existing crisis of the earth system, the subordination of the system of capitalism by that of community is essential. | more…

Double explosure with business graph with arrows and financial graphs

The Contagion of Capital

Financialized Capitalism, COVID-19, and the Great Divide

Although the current crisis of production associated with the COVID-19 pandemic has sharpened disparities, the overall problem is much longer and more deep-seated, a manifestation of the inner contradictions of monopoly-finance capital. Comprehending the basic parameters of today’s financialized capitalist system is the key to understanding the contemporary contagion of capital, a corrupting and corrosive cash nexus that is spreading to all corners of the U.S. economy, the globe, and every aspect of human existence. | more…

Monthly Review | Tel: 212-691-2555
134 W 29th St Rm 706, New York, NY 10001