March 1, 2019
To comprehend twenty-first-century imperialism we must go beyond analysis of the nation-state to a systematic investigation of the increasing global reach of multinational corporations or the role of the global labor arbitrage. At issue is the way in which today's global monopolies in the center of the world economy have captured value generated by labor in the periphery within a process of unequal exchange, thus getting "more labour in exchange for less. The result has been to change the global structure of industrial production while maintaining and often intensifying the global structure of exploitation and value transfer.
March 1, 2019
In 1957, in the Political Economy of Growth, Paul Baran made a seminal contribution to our understanding of the connection between economic surplus—a concept he introduced into the development discussion—and growth. Given that the ruling class controls the surplus of society, how the surplus is used—whether it is invested, consumed, or simply wasted—is at its discretion. The effective utilization of surplus implies a reasonable rate of capital accumulation and economic development. In the following study of the utilization of surplus I compare the size of surplus and gross capital formation in a variety of countries starting from the mid–nineteenth century.
February 1, 2019
Less than two decades into the twenty-first century, it is evident that capitalism has failed as a social system. The world is mired in economic stagnation, financialization, and the most extreme inequality in human history, accompanied by mass unemployment and underemployment, precariousness, poverty, hunger, wasted output and lives, and what at this point can only be called a planetary ecological "death spiral." Many of the symptoms of the failure of capitalism are well-known. Nevertheless, they are often attributed not to capitalism as a system, but simply to neoliberalism, viewed as a particular paradigm of capitalist development that can be replaced by another, better one. A critical-historical analysis of neoliberalism is therefore crucial both to grounding our understanding of capitalism today and uncovering the reason why all alternatives to neoliberalism and its capitalist absolutism are closed within the system itself.
February 1, 2019
Workplace surveillance and the invasion of employee privacy have always been present under capitalism. Historically, this has mostly involved the combination of visual observation and abstract time, focusing on employee performance. However, the development of new information and communication technologies has brought important changes to the manner in which employers control employee productivity. Such digitalization or datafication of employees constitutes a qualitative change in the history of workplace surveillance—a change that reduces workers, their performance and bodies, to lines of code and flows of data to be scrutinized and manipulated.
January 1, 2019
Business tycoon Cyril Ramaphosa, who, according to Forbes, was worth more than $450 million in 2015, has been the president of the ruling African National Congress since December 2017. Despite the change in ruling-party leadership, the residual old-guard politicians from the era of Jacob Zuma's patrimonial, corrupt regime still retain enormous power.
January 1, 2019
The psychoanalytical framework developed by Marxist Erich Fromm strongly challenges the dominant biological and individualistic explanations of the mental-health crisis that is now sweeping the globe. Fromm emphasized that all humans have certain needs that must be fulfilled in order to ensure optimal mental health. It follows that capitalism is crucial to determining the experience and prevalence of mental well-being, as its operations are incompatible with true human need.
December 1, 2018
China's economic development and success has been widely misunderstood and treated with perplexity. This overview of the Chinese economy provides an analysis of the drivers of the country's growth and crises, including industrialization and the agrarian question.
November 1, 2018
In this excerpt from The Accumulation of Capital, Rosa Luxemburg explains how classical political economy lacks a clear conception of the commodity—both in the terms of the distinctions between use value and exchange value, as well as between concrete and abstract labor. This metaphysical, essentialist framework leads to a complete failure to understand the social character of labor's capacity to create value.
November 1, 2018
There is considerable interest in the history and characterization of China's economy. This overview of the evolution of the renminbi from the late Qing dynasty to the present, shows how China's political and economic changes in the twentieth and twenty-first centuries are reflected in the development of its highly contested modern currency system.
October 1, 2018
This issue is dedicated to remembering the life and work of Samir Amin (1931–2018), the greatest single theorist of imperialism of the late twentieth and early twenty-first century, and one of the leading world activists and organizers in today's anti-imperialist struggle.
