October 1, 2002
In late August and early September a number of MR and Socialist Register authors (including Patrick Bond, John Bellamy Foster, Gerard Greenfield, Naomi Klein, and John Saul) participated in forums in Johannesburg related to the World Summit on Sustainable Development. On August 24, they joined in a march led by antiprivatization activists from the black townships (in particular by Trevor Ngwane and Virginia Setshedi—whose role in the struggle in South Africa is discussed in Ashwin Desai’s new MR Press book, We Are the Poors). The march was organized to protest the arrest and jailing of political activists. The marchers lit candles and proceeded peacefully but were met within minutes by the South African police who exploded percussion grenades, injuring three of the protestors. The harsh and unprovoked actions of the police on this occasion pointed to the increasingly antipopular character of the South African state, which is imposing neoliberal economic policy on the society. It also underscored the repressive measures now commonly utilized at world summits in general. We will address the Johannesburg summit and the economic and environmental problems of southern Africa in an upcoming issue of MR
September 1, 2002
The growth and eventual bursting of financial bubbles is an inherent feature of capitalist accumulation, as can be seen in the long history of such crises from the South Sea Bubble of the early eighteenth century to the financial blowouts of the present day. In the first half of the summer a dramatic bubble-bursting decline in the U.S. and European stock exchanges wiped out the stock market gains of the previous five years—a period characterized by manic speculation
July 1, 2002
Fifty-four years ago when MR was being planned, one of the questions that the editors, Leo Huberman and Paul Sweezy, had to decide was whether to have a section at the back of the magazine on literature and the arts, what in publisher’s parlance is called “the back of the book.” The MR editors decided not to do so, mainly for practical reasons. They did not feel that they had the necessary knowledge and training to do a good job editorially with such cultural material, and they felt sure that in the circumstances that the U.S. left then found itself they could not count on the support of enough serious socialist critics to sustain an arts section meeting the same standards as MR as a whole. In 1963, the first of these conditions changed temporarily, when Frances Kelly, who had been Business Manager of the New Left Review in London and whose special field of competence was the arts, came to work with the MR editors as Assistant and then Associate Editor. Under Frances Kelly’s editorship, MR published a cultural supplement called Review 1 as an experiment in 1965
June 1, 2002
In the May issue of MR, we published an article by James Petras, written in March, entitled “The U.S. Offensive in Latin America.” The article raised the issue of an impending military coup in Venezuela, then being actively promoted by Washington, aimed at replacing the democratically elected president Hugo Chávez with what the Bush administration had already been publicly calling a “transitional government” (or, as Petras termed it, a “transitional civic-military junta”). “Washington,” Petras wrote, “is implementing a civil-military approach to overthrow President Chávez in Venezuela….U.S. strategy is multiphased and combines media, civic, and economic attacks with efforts to provoke fissures in the military, all aimed at encouraging a military coup.” The object of the coup, from Washington’s standpoint, was threefold: to regain control of Venezuela’s oil industry which accounts for 15 percent of U.S. oil imports, to eliminate the indirect support that Venezuela has been giving to guerrillas in Colombia and to insurgent forces in Ecuador, and to put an end to Chávez’s attempt to break away from the imperialistic network—Venezuela’s step toward independence
May 1, 2002
This month marks the fiftieth anniversary of Monthly Review Press. The idea of starting a book publishing arm of MR had its origin in an accidental meeting in Central Park in 1951 between noted journalist I.F. Stone, then a reporter and columnist of the leftist New York Daily Compass, and MR editors Leo Huberman and Paul Sweezy. Stone told Huberman and Sweezy that he had written a book disputing the official history of the Korean War but had not been able to find a publisher in that era of fervent McCarthyism and war hysteria. They asked to see the manuscript, and on its strength decided to establish Monthly Review Press. The Hidden History of the Korean War, the very first book published by Monthly Review Press, was released in May 1952
May 1, 2002
The worldwide U.S. military-political offensive is manifest in multiple contexts in Latin America. The U.S. offensive aims to prop up decaying client regimes, destabilize independent regimes, pressure the center-left to move to the right, and destroy or isolate the burgeoning popular movements challenging the U.S. empire and its clients. We will discuss the particular forms of the U.S. offensive in each country, and then explore the specific and general reasons for the offensive in contemporary Latin America. In the concluding section we will discuss the political alternatives in the context of the U.S. offensive
April 1, 2002
As this special issue on the economy goes to the printer, the business press is full of the news that a mild recovery from the recession that began in March 2001 may already be in the works, as was suggested by Federal Reserve Chairman Alan Greenspan in testimony to Congress in late February. Whether this should prove to be the case or not, it remains true that the long-term, deepening problems of the U.S. economy are for the most part ignored in such accounts, in favor of a short-run focus on an expected cyclical upswing.
April 1, 2002
Historically, monetary crises have been related to hyperinflation, from which Argentina has often suffered. Hyperinflation is generally viewed as a calamity leading to the destruction of the capitalist monetary system of circulation. In the present Argentine crisis, however, there has been a complete implosion of economic and monetary relations due to hyperdeflation. This is the strangulation of the economy by the requirement to pay an unsustainable debt
April 1, 2002
Against the background of Argentina’s dramatic economic downfall, a meeting was held in January 2002 at the Faculty of Economic Sciences of the University of Buenos Aires. The focus of the meeting was the need to work on alternative proposals to deal with the crisis
March 1, 2002
In January, with no public discussion and little fanfare, Washington began the first major extension of its “war on terrorism” beyond Afghanistan by sending U.S. troops into the Philippines. The contingent of nearly 700 troops, including 160 Special Forces soldiers, was sent to the Autonomous Region of Muslim Mindanao (ARMM), which consists of a number of islands and one major city, and is populated chiefly by a few million Moros (Muslim Filipinos). The mission of the U.S. forces has been to “assess” the military situation, provide military advice, and “train” the 7000 Philippine soldiers currently pursuing the guerrillas of the Abu Sayyaf Group (ASG) operating in the southern islands of Basilan and Jolo
