September 1, 1997
In its most recent issue (July 17th) Doug Henwood's excellent Left Business Observer, now in its seventh year of publication, highlights what may come to be seen as an important turning point in current economic history. The gist of it is that Alan Greenspan and his supporters at the Federal Reserve have come to the conclusion that inflation is no longer a serious problem and the real threat today is deflation. "For all the bad press that inflation gets, deflation is generally far worse for all but the richest and best-positioned.…Greenspan and Co. might not fear an exact replay of the 1929-32 collapse, but clearly that's the 'it' that central bankers don't want ever to happen again" (to paraphrase the title of Hyman Minsky's classic book Can 'It' Happen Again?).
July 1, 1997
As of early summer the economic outlook for the rest of 1997, as portrayed in the major media, could hardly be brighter. "Strong growth with little unemployment and low inflation doesn't have to peter out….Could it possibly get any better than this?" exults Business Week (January).…Up to a point this is clearly a case of déjà vu all over again. A "new era" was widely and enthusiastically proclaimed by professors, pundits, and plain people as the stock market boom of the 1920s neared its peak. A few months later the market collapsed, and the greatest depression in U.S. history began. The big question now is whether the rest of the scenario of the 1920s and the 1930s is likely to repeat itself. The answer of the media and Wall Street and probably of plenty of plain people too is a resounding NO.
June 1, 1997
It is encouraging to find that in the face of constantly changing trends within academia, there was such a strong turnout for the 1997 Socialist Scholars Conference—on a rainy Easter weekend (March 28-30) over 1,700 people came out in full force. There was a feeling of excitement in the halls and class rooms of the Borough of Manhattan Community College that may just signify both a return to Marxist politics and a revitalization of the U.S. labor movement. The opening plenary speeches were full of hope and enthusiasm: from Daniel Singer who pointed out that "the ideological swing to the right has probably come to an end…cracks are beginning to appear in the ruling ideology and popular resistance is growing" to Bob Wages, president of the Oil, Chemical, and Atomic Workers Union, who emphasized the importance of class politics that challenges, rather than accepts the Democratic party.
May 1, 1997
In this space in last summer's double issue of MR, we directed attention to the work of a worldwatch Institute in Washington, D.C., especially its annual State of the World, the first issue of which was published in 1984. The latest (1997) of these reports came out in February. By now this series is being translated into all the world's major languages and constitutes what is probably the most comprehensive and available source of information on the global environment.
January 1, 1997
The fall of the Soviet empire was greeted not only as the funeral of socialism. It was also described as marking the final dead end for all revolutionary roads. The practitioners of revolution—Robespierre and Cromwell—as well as its theoreticians—Luxemburg and Marx—were lumped together in retrospective condemnation. Logically, such an offensive against the very idea of radical transformation should have been coupled with praise for gradualism, for Fabian tactics, for progressive change. To use two cliches at once, the "col- lapse of communism" could have been combined with the "triumph of social democracy." Actually, nothing of the kind happened. On the contrary, the disintegration of the neo-stalinist system has been followed by a major crisis of social-democracy, taken here in its very narrow current definition-the reformist management of capitalist society.
November 1, 1996
The September 30th issue of the New Yorker carried profiles of two long-time contributors to Monthly Review—lyricist E. Y. Harburg and lawyer Michael Tigar—evoking considerable pride among MR staffers. "Yip" Harburg, who died in 1986, wrote more than one hundred songs including "Over The Rainbow," and "Brother, Can You Spare a Dime." Writer John Lahr notes that throughout his long career on Broadway and in Hollywood all of his work evinced powerful social concerns and themes of freedom. Yip, of course, was a socialist of the MR variety.
November 1, 1996
Sheila Rowbotham is an active British socialist feminist as well as a political-historical writer. Growing up intellectually and politically in the Marxist tradition as shaped by Edward and Dorothy Thompson, growing and changing in struggles lost and won, Rowbotham continues to base her analyses in history. Her personal history and memory contribute significant details to the political analyses she offers, especially of grassroots movements. Rowbotham lives the life of a politically committed activist and an historical reporter, while a single mother actively engaged in her community. She has written fifteen books, innumerable articles, introductions, essays, poems, films, record jackets, reports, reviews and interviews.
November 1, 1995
Pier Paolo Pasolini, born in Bologna on March 5, 1922, and raised in the Friuli region of Venetia, is, in the words of Alberto Moravia, the major Italian poet of the second half of the twentieth century. He was also a filmmaker, novelist, and political journalist of genius. He was murdered twenty years ago, on November 2, 1975.
July 1, 1995
In 1902, the Rationalist Press Association issued a pamphlet entitled A New Catechism. Like the classic Roman Catholic statement of belief on which it was modeled, the document comprised a long list of questions and answers. However, the faith which it rehearsed was not belief in Christianity, but rather belief in secular human reason. The pamphlet opened with a stirring dedication:
We baptize the twentieth century—in the name of Peace, Liberty, and Progress! We christen her—the People's Century. We ask of the new century a Religion without superstition; Politics without war; Science and the arts without materialism; and wealth without misery or wrong!
