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CPC with Xi at core is driving global transformation

Is China Transforming the World?

In most mainstream Western media, China is now presented as a threat, a conquering “empire.” Still the global hegemon, the United States is worried about the Chinese rise in strength, and their successive administrations are building the anxiety-provoking image of a China eager to supplant it and steal its leadership of the capitalist world system. | more…

A McDonald's in China

China: Imperialism or Semi-Periphery?

Whether China has become an imperialist country is a question of crucial importance for the global class struggle. Although China has developed an exploitative relationship with South Asia, Africa, and other raw material exporters, on the whole, China continues to transfer a greater amount of surplus value to the core countries in the capitalist world system than it receives from the periphery. China is thus best described as a semi-peripheral country in the capitalist world system. | more…

New this week!

China and the American Lake

U.S. fantasies of expansion, commercial dominion, and military prowess have long hinged on a premise of Pacific exceptionalism. Couched in the millenarian language of manifest destiny, the Pacific region and its multitudinous ecosystems, cultures, peoples, and nations have been vacated in favor of an aqua nullius that frames the region as an empty space designated for U.S. possession by divine providence. | more…

5G technology booth

The Political Economy of the U.S.-China Technology War

This article will be released in full online August 9, 2021.

One of the key components of U.S.-China strategic competition is the technology war, the essence and implications of which can be further understood in the broader context of the international division of labor and the two countries’ internal contradictions. From this front, we can decipher the antagonism between different classes/groups within and across the two countries. | more…

Monthly Review Volume 73, Number 2 (June 2021)

June 2021 (Volume 73, Number 2)

Where capitalism itself is concerned, the dominant view is that the COVID-19 crisis constitutes a rare, unpredictable, and unlikely to be repeated occurrence. The world capitalist economy, we are informed, was fundamentally sound prior to the advent of this unforeseen exogenous shock, and it will revive quickly once the SARS-CoV-2 virus is under control. This received view, however, is incorrect on all counts. | more…

New beech leaves, Gribskov Forest in the northern part of Sealand, Denmark

Capital and the Ecology of Disease

The death of Salvador Allende in 1973 marked, simultaneously, not only the demise of one of the great socialist experiments, and the launching of neoliberalism; it also represented the loss in Allende of one of the great figures in social medicine. Nowhere has neoliberalism had more devastating effects than in the destruction of public health and social medicine initiatives throughout the world. | more…

The Foreign Minister of Ecuador, Ricardo Patiño, participated in the commemoration of the death of Commander Hugo Chávez Frías

Socialist Practice and Transition

In Socialist Practice, a collection of essays on leftist theory and experiences, Victor Wallis adheres to the view that the achievement of socialism is a drawn out, nonlinear process consisting of episodes that in many cases have a mixed impact on the revolutionary cause. He analyzes several, ranging from the seven decades of Soviet rule to the New Left of the 1960s. His main thesis is that over the last century pure socialism has never existed and that on all fronts socialist movements and governments have contained elements of the old—namely, capitalism. | more…

Capital and Imperialism: Theory, History, and the Present

Those who control the world’s commanding economic heights, buttressed by the theories of mainstream economists, presume that capitalism is a self-contained and self-generating system. Nothing could be further from the truth. In this pathbreaking book—winner of the Paul A. Baran-Paul M. Sweezy Memorial Award—radical political economists Utsa Patnaik and Prabhat Patnaik argue that the accumulation of capital has always required the taking of land, raw materials, and bodies from noncapitalist modes of production. They begin with a thorough debunking of mainstream economics. Then, looking at the history of capitalism, from the beginnings of colonialism half a millennium ago to today’s neoliberal regimes, they discover that, over the long haul, capitalism, in order to exist, must metastasize itself in the practice of imperialism and the immiseration of countless people. | more…

Paramedics take a patient into emergency center at Maimonides Medical Center during the outbreak of the coronavirus disease (COVID-19) in the Brooklyn borough of New York City, New York, April 7, 2020

Racial Capitalism and COVID-19

The COVID-19 pandemic has brought into sharp relief the deep structural problems affecting nonwhite racialized workers in the core and periphery. Yet, many social scientific analyses of the global political economy, at least in the pre-COVID era, are race neutral or willfully indifferent to the persistent racial pattern of global inequalities. Even if they do address legacies of colonialism, they ignore the ongoing racial logics of oppression embedded therein. | more…

Capital, Science, Technology

The Development of Productive Forces in Contemporary Capitalism

Capitalist modernity not only contains profound contradictions, but is also undergoing a significant transformation. Far from acting as a driving force for the development of social productive forces, it has become a parasitic entity with an essentially rentier and speculative function. Underlying this is an institutional framework that favors the private appropriation and the concentration of the products of general intellect. | more…

Drivers United

Manipulations of Freedom

The Dirty Fight for Prop 22 and the Gig Economy

On California’s November 2020 ballot were some contentious and important issues, including Proposition 22, classifying rideshare drivers and app-based delivery workers as independent contractors. Gig economy giants Uber, Lyft, Doordash, and others spent a whopping $111 million on Prop 22. Of course, the companies had a lot to lose. If they were made to treat their drivers or delivery people as employees and compensate them accordingly, they would be bankrupted, they claimed. | more…

Value and Crisis: Essays on Marxian Economics in Japan, second edition

Marxist economic thought has had a long and distinguished history in Japan, dating back to the First World War. When interest in Marxist theory was virtually nonexistent in the United States, rival schools of thought in Japan emerged, and brilliant debates took place on Marx’s Capital and on capitalism as it was developing in Japan. Forty years ago, Makoto Itoh’s Value and Crisis began to chronicle these Japanese contributions to Marxist theory, discussing in particular views on Marx’s theories of value and crisis, and problems of Marx’s theory of market value. Now, in a second edition of his book, Itoh deepens his study of Marx’s theories of value and crisis, as an essential reference point from which to analyze the multiple crises that have arisen during the past four decades of neoliberalism. The promise of Marx’s theories has not waned. If anything—given the failure of Soviet-style socialism and the catastrophe of neoliberalism—it grows daily. | more…

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