May 1, 2000
It is an old axiom, common to both Marxian and Keynesian economics, that uneven, class-based distribution of income is a determining factor of consumption and investment. How much is spent for consumption goods depends on the income of the working class. Workers necessarily spend almost all of their income on consumption, with relatively little left over for savings or investment. Capitalists, on the other hand, spend only a small percent- age of their income for personal consumption. The overwhelming proportion of the income of capitalists and their corporations is devoted to investment
March 1, 2000
The "Seattle Shock"-as Business Week called it in an editorial that warned of a popular backlash against "our very economic system"-reflects heartfelt indignation by the financial press at the intrusion of mass democracy into an elite discourse. In the New York Times, columnist Thomas Friedman raged at anti-World Trade Organization (WTO) protesters, whom he presents as "flat-earth advocates" duped by knaves like Pat Buchanan. Friedman, perhaps the most obtuse of the big-time columnists, complains that "What's crazy is that the protesters want the W.T.O. to become precisely what they accuse it of already being-a global government
January 1, 2000
Our Assistant Editor, Vicki Larson, was in Seattle for the demonstrations against the WTO. We are pleased, indeed proud, to present Vicki's account of these very important events
January 1, 2000
When the Berlin Wall came down in 1989, it was not simply the Soviet Union or the "communist idea" or the efficacy of Marxist solutions that collapsed. Western European social democracy, too, was severely dented. In the face of a triumphalist capitalist storm that swept the world it, too, had to trim its sails. The fact that, barring Spain, social democratic parties or coalitions govern most of Western Europe today is of inter- est largely because of the collective experience it provides: these parties can no longer deliver effective policies that improve the conditions of the majority of electors whose votes have placed them in power. Capitalism, unchallenged from any quarter, no longer feels the need to protect its left flank by conceding reforms
January 1, 2000
From the modern vision, the great revolutions, the anti-Nazi war, to the collapse of socialism in East Europe and to the sovereignty of the market, what do you think about the twentieth century—the "century of extremes" as Hobsbawm calls it?
January 1, 2000
Consider the following items culled from some of the journals, newspapers, and email discussion groups to which I subscribe:
November 1, 1999
Paul Buhle, Taking Care of Business: Samuel Gompers, George Meany, Lane Kirkland, and the Tragedy of American Labor (New York: Monthly Review Press, 1999), $18, 315 pp.; Mike Parker & Martha Gruelle, Democracy is Power: Rebuilding Unions from the Bottom Up (Detroit: Labor Notes, 1999), $17, 255 pp.
In a very well-known passage, Marx said, “Men make their own history, but they do not make it just as they please; they do not make it under circumstances chosen by themselves, but under circumstances directly encountered, given and transmitted from the past.” Elsewhere, he said, “The tradition of all the dead generations weighs like a nightmare on the brain of the living.” These words of wisdom provide us with a good entry point into a review of these two exceptional books
October 1, 1999
The strikes that have recently brought more than one million teachers and public employees into the streets in South Africa—culminating in a one-day strike on August 25, in which six hundred thousand public workers downed tools nationwide—have been brewing for the past few months
September 1, 1999
It is worth the trip to Syracuse University just to see Ben Shahn's sixty-by-twelve-foot outdoor mural, “The Passion of Sacco and Vanzetti.” Unveiled in 1967, the mosaic tile mural tells the story of Nicola Sacco and Bartolomeo Vanzetti, executed in 1927 for a crime which they probably did not commit. Witnesses placed them miles from the crime scene when the murder of a paymaster occurred at a shoe factory in Braintree, Massachusetts
