From call centers to fast-food restaurants, the future of service work is one of precarious employment, with no stable schedules, wages, benefits, or union representation. Should these workers be considered part of a new service proletariat, or treated as a new class altogether, the “precariat”? | more…
The Marxian critique of political economy is inseparable from the “labor theory of value.” But what exactly does this theory mean? This article considers Marx’s value theory from five perspectives: as a monetary value theory, a theory of exploitation, a macro-monetary theory of capitalist production, a theory of individual prices, and a theory of crises. | more…
For several decades, intellectuals and economists who follow Marxist theory have hotly debated the financialization of capitalism. François Chesnais’s latest book represents the most thorough and polished attempt yet to clarify several lingering questions around the matter. | more…
Kohei Saito’s Karl Marx’s Ecosocialism: Capitalism, Nature, and the Unfinished Critique of Political Economy shows convincingly that Marx’s ideas about the interaction between humanity and nature did not arrive fully formed, but arose from his rigorous engagement with science and philosophy. His insights still offer unparalleled tools to understand capitalism’s current assault on the environment. | more…
Unlike such obvious forms of oppression as feudalism or slavery, capitalism has been able to survive through its genius for disguising corporate profit imperatives as opportunities for individual human equality and advancement. But it was the genius of Karl Marx, in his masterwork, Capital, to discover the converse law of surplus value: behind the illusion of the democratic, supply-and-demand marketplace, lies the workplace, where people trying to earn a living are required to work way beyond the time it takes to pay their wages. Leave it to the genius of Samir Amin to advance Marx’s theories—adding to them the work of radical economists such as Michal Kalecki, Josef Steindl, Paul Baran, and Paul Sweezy—to show how Marxian theory can be adapted to modern economic conditions. | more…
To understand the present ecological crisis, it is necessary to dig much deeper into capitalism’s logic of expropriation, as first delineated by Marx during the Industrial Revolution. At the root of the problem is a spoliation of the natural environment—the expropriation of the earth itself. | more…
An expanded Marxist understanding of capitalist exploitation is long overdue. There are many pathways of surplus extraction beyond the wage form, and understanding them is a task with profound implications for anticapitalist movements around the world. | more…
The pharmaceutical industry has been enormously profitable for many decades. The myth is that these windfalls are warranted by the therapeutic advances made by pharmaceutical companies—but the reality is far different. | more…
Ideas and theories can only play a limited part in tackling the climate crisis, but at least they should not act as obstacles to understanding and action. In his new book, Andreas Malm maps those obstacles and proposes a path through them. | more…
The state cannot be other than Leviathan in imposing its structurally entrenched power on overall societal decision-making. Yet a way must be found to extricate humanity from the ever more dangerous, arbitrary, and alienated form of the Leviathan state. Indeed, the survival of humanity depends on it. | more…
For years, intellectuals have argued that, with the triumph of capitalist, liberal democracy, the Western World has reached “the end of history.” Recently, however, there has been a rise of authoritarian politics in many countries. Concepts of post-democracy, anti-politics, and the like are gaining currency in theoretical and political debate. Now that capitalist democracies are facing seismic and systemic challenges, it becomes increasingly important to investigate not only the inherent antagonism between liberalism and the democratic process, but also socialism. Is socialism an enemy of democracy? Could socialism develop, expand, even enhance democracy? | more…
The recent rise of social reproduction theory represents one of the most remarkable attempts to extend historical materialism in our time. The Review of the Month in this issue, “Women, Nature, and Capital in the Industrial Revolution,” is intended as a contribution to this rapidly growing body of work. | more…