April 1, 2018
The Marxian critique of political economy is inseparable from the "labor theory of value." But what exactly does this theory mean? This article considers Marx's value theory from five perspectives: as a monetary value theory, a theory of exploitation, a macro-monetary theory of capitalist production, a theory of individual prices, and a theory of crises.
April 1, 2018
For several decades, intellectuals and economists who follow Marxist theory have hotly debated the financialization of capitalism. François Chesnais's latest book represents the most thorough and polished attempt yet to clarify several lingering questions around the matter.
March 1, 2018
The pharmaceutical industry has been enormously profitable for many decades. The myth is that these windfalls are warranted by the therapeutic advances made by pharmaceutical companies—but the reality is far different.
February 1, 2018
A recent article by the economist Riccardo Bellofiore includes a significant treatment of Paul Sweezy's dynamic theory of monopoly capital. But the essay's most noteworthy contributions, in our view, relate to Harry Magdoff and Sweezy's role in the 1970s and '80s in developing a theory of financialization, and what their analysis can tell us about our current situation.
February 1, 2018
The most important principle of the monopoly capital tradition is that of "the present as history"—a focus on the historical specificity that separates the various modes, stages, and phases of production and accumulation, and its application to our understanding of the present.
January 1, 2018
The recent rise of social reproduction theory represents one of the most remarkable attempts to extend historical materialism in our time. The Review of the Month in this issue, "Women, Nature, and Capital in the Industrial Revolution," is intended as a contribution to this rapidly growing body of work.
January 1, 2018
"Monopoly capital" is a term for the new form of capital, embodied in the modern giant corporation, that in the late nineteenth century began to displace the small family firm as the dominant economic unit, marking the end of the freely competitive stage of capitalism.
December 1, 2017
With the structural crisis of the capital system, the expansionary historic circle through which capital could dominate humanity for a very long time is perilously closing. That closure brings with it the danger of humanity's total destruction in the interest of capital's absurdly prolonged rule.
December 1, 2017
Longtime readers of Monthly Review would likely agree that the world is a colder, darker place without Doug Dowd, economist, activist, writer, teacher, and friend. He was a rock-bottom radical, a measure of the very best in the human soul.
November 1, 2017
Over the last three decades, Monthly Review has stood out as a major source of ecosocialist analysis. This has been especially evident in recent months, with the publication by Monthly Review Press of three pathbreaking books: Kohei Saito, Karl Marx's Ecosocialism: Capital, Nature, and the Unfinished Critique of Political Economy; Ian Angus, A Redder Shade of Green: Intersections of Science and Socialism; and Fred Magdoff and Chris Williams, Creating an Ecological Society: Toward a Revolutionary Transformation.
