July 1, 2015
Capitalism is preeminently a money-using system where a large part of wealth is held either in the form of money or as money-denominated assets, namely financial assets. For the system to work, it is essential that the value of money should not keep declining against commodities; otherwise people would move away from holding money, and it would cease to be not just a form of wealth, but even a medium of circulation.… Hence, capitalism seeks to ensure the stability of the value of money in a number of ways. One is the maintenance of a vast reserve army of labor, not just within the metropolis but also in the third world.
July 1, 2015
The globalization of production and its shift to low-wage countries is the most significant and dynamic transformation of the neoliberal era. Its fundamental driving force is what some economists call "global labor arbitrage": the efforts by firms in Europe, North America, and Japan to cut costs and boost profits by replacing higher-waged domestic labor with cheaper foreign labor, achieved either through emigration of production ("outsourcing," as used here) or through immigration of workers. Reduction in tariffs and removal of barriers to capital flows have spurred the migration of production to low-wage countries, but militarization of borders and rising xenophobia have had the opposite effect on the migration of workers from these countries—not stopping it altogether, but inhibiting its flow and reinforcing migrants' vulnerable, second-class status.
July 1, 2015
Medicine and public health have played important roles in imperialism. With the emergence of the United States as an imperial power in the early twentieth century, interlinkages between imperialism, public health, and health institutions were forged through several key mediating institutions. Philanthropic organizations sought to use public health initiatives to address several challenges faced by expanding capitalist enterprises: labor productivity, safety for investors and managers, and the costs of care. From modest origins, international financial institutions and trade agreements eventually morphed into a massive structure of trade rules that have exerted profound effects on public health and health services worldwide. International health organizations have collaborated with corporate interests to protect commerce and trade. In this article we clarify the connections among these mediating institutions and imperialism.
July 1, 2015
Although medicine and public health have played important roles in the growth and maintenance of the capitalist system, conditions during the twenty-first century have changed to such an extent that a vision of a world without an imperial order has become part of an imaginable future. Throughout the world, diverse struggles against the logic of capital and privatization illustrate the challenges of popular mobilization. In addition to these struggles, groups in several countries have moved to create alternative models of public health and health services. These efforts—especially in Latin America—have moved beyond the historical patterns fostered by capitalism and imperialism…. All the struggles that we describe remain in a process of dialectic change and have continued to transform toward more favorable or less favorable conditions. However, the accounts show a common resistance to the logic of capital and a common goal of public health systems grounded in solidarity, not profitability.
July 1, 2015
By the end of 1990, foreign direct investment—that is, investment in manufacturing, real estate, raw materials, extraction, financial institutions, etc., made by capitalists of all lands outside their national borders—reached over $1.5 trillion…. [W]hat is significant about this number is not only its size but the unprecedented speed with which it has grown in the last two decades: the amount directly invested in foreign lands nearly tripled in the 1980s alone…. This upsurge and diversification of globalization has been introducing new economic and political features in the countries of both the periphery and the core. In the periphery, foreign capital has penetrated more widely and deeply than ever before. In the core, this change of direction has helped produce in the world's key money markets an extraordinary spiraling of credit creation, international flows of money capital, and speculation.
July 1, 2015
Insofar as imperialism is about the struggle over and capture of economic territory (which must be broadly defined to include not just geographical territory such as land and natural resources, but also the creation of new markets, sources of labor, and forms of surplus transfer such as are reflected in intellectual property), these changes [in imperialism since the early 20th century] have created distant demands upon imperialist structures and processes…. [So] how can capital (which is increasingly global in orientation) generate the superstructures through which the transfers of value are ensured and the investment risks are moderated and contained? It will be argued that there has been an endeavor to resolve this by refashioning the global institutional architecture in ways that operate to increase the conditions of "stability" for large capital while increasing its bargaining power vis-à-vis working people and citizens, as well as nation-states and even smaller capitalist enterprises.
June 1, 2015
In two Monthly Review special issues, "Education Under Fire: The U.S. Corporate Attack on Students, Teachers, and Schools" (July-August 2011) and "Public School Teachers Fighting Back" (June 2013), we sounded an alarm regarding the rapid restructuring and privatization of U.S. K–12 public schools. In terms of the scale of nationwide restructuring, the corporate takeover of education is unprecedented in modern U.S. history. The closest comparison we can come up with is the destruction of the street car systems across the United States and the building of the interstate highway system—in which freeways went right through cities for the first time, often in the face of neighborhood and community resistance. With respect to K–12 education, unimaginable amounts of private funds have gone into pressuring and corrupting government at every level, while the control mechanisms of the new educational system are increasingly left in private, not public, hands. The Common Core Standards and related high-stakes tests are at the center of this new system, and are the product of private corporate groups outside the direct reach of government.
April 1, 2015
On October 20, 2012, less than two weeks after being reelected to his fourth term as Venezuelan president and only months before his death, Hugo Chávez delivered his crucial El Golpe de Timón ("Strike at the Helm") speech to the first meeting of his ministers in the new revolutionary cycle. Chávez surprised even some of his strongest supporters by his insistence on the need for changes at the top in order to promote an immediate leap forward in the creation of what is referred to as "the communal state." This was to accelerate the shift of power to the population that had begun with the formation of the communal councils (groupings of families involved in self-governance projects—in densely populated urban areas, 200–400 families; in rural areas, 50–100 families). The main aim in the new revolutionary cycle, he insisted, was to speed up the registration of communes, the key structure of the communal state.
April 1, 2015
"Marx was before all else a revolutionary. His real mission in life," noted Frederick Engels at Marx's graveside, "was to contribute in one way or another to the overthrow of capitalist society and of the forms of government which it had brought into being, to contribute to the liberation of the present-day proletariat." Could the same be said about Marxist economists? That they are revolutionaries whose real mission is to contribute to the overthrow of capitalism?
April 1, 2015
The International Working Men's Association (IWMA), nowadays better known as the First International, was founded in London in September 1864. Despite the importance of the event, there has not been much attention to its 150th anniversary. To an extent, this reflects the situation of the present day, with the hegemony of neoliberal politics and, conversely, the weakness of the left, that does not seem to be interested in its own history and the lessons that might be extracted from past experiences.… Luckily, there are exceptions. Marcello Musto, an assistant professor of sociology at York University in Toronto, has contributed to two important presentations of the experience of the First International… The International after 150 Years: Labour Versus Capital, Then and Now …[and] the first English-language anthology on the IWMA, Workers Unite! The International 150 Years Later.
