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Economic Theory

Integrated circuit on a microchip

What Do We Learn about Capitalism from Chip War?

Chip War (Simon and Schuster, 2022) by Chris Miller is a detailed accounting of the U.S. efforts to retain control of the computer chip industry—an industry that has become vital to nearly all aspects of modern life. Rahul Varman explores and expands on these themes, asking all the while: What can the escalating wars over this crucial technology teach us about global capitalism? | more…

Monthly Review Volume 75, Number 6 (October 2023)

October 2023 (Volume 75, Number 6)

At the center of the United States’s New Cold War MR editors write, is the World Trade Organization, “the crown jewel of the liberal international order.” After China’s admittance into the WTO did not lead to the collapse of socialism in that country, presidents from Obama to Biden have gutted the institution and escalated the tariff war, all in the name of protecting the so-called rules-based international order. | more…

"DEGROWTH: COUNTER HEGEMONY NOW"

Degrowth and Socialism: Notes on Some Critical Junctures

Increasingly, scholarship around degrowth and socialism are coalescing around certain shared ideas, namely, that capitalism is at the root of our planetary crisis. Güney Işıkara and Özgür Narin draw out key points of convergence among these thinkers, as well as discrepancies in the two approaches to creating a future egalitarian and sustainable society. | more…

High-speed train at Taichung Station, China

On Technology and Degrowth

There is a common misconception among critics that degrowth proponents do not engage with the question of technology, instead leaving the implementation of technological solutions to the planetary crisis to green growth advocates. Jason Hickel shows that not only is this narrative false, it obscures the possibilities for technology unfettered by capitalism. | more…

AE Solar Factory in China (April 1, 2017)

Degrowing China—By Collapse, Redistribution, or Planning?

Minqi Li asks: How can China, the world’s largest energy consumer, be “de-grown”? What policies and institutions must change, and what are the potential social implications? How can social ownership of production, redistribution of wealth the working class, and democratically controlled planning bring the country closer to a zero growth scenario? | more…

Demonstration against the EPR, Lyon, March 17, 2007, Place Bellecour

Democratic Planning for Degrowth

Degrowth promises to liberate society from the imperative of capital accumulation. “So how,” Matthas Schmelzer and Elena Hofferberth wonder, “might planning beyond growth look?” It is not, they write, only a proposal for a postcapitalist society, but for a radical transformation of our institutions and social relations to create a more sustainable and just world. | more…

THE ONLY SUSTAINABLE GROWTH IS DEGROWTH

Degrowth—What’s in a Name? Assessing Degrowth’s Political Implications

“Degrowth” may often be associated with the left, but can also have conservative—even ecofascist—implications. What do proponents and critics mean by “degrowth”? How do these differences play out ideologically? Ying Chen writes that, for radicals, the answer is to place the economic system at the center of the degrowth narrative, thus naming the system that must be replaced with a more just and equitable socialist society. | more…

The Dialectics of Dependency: Ruy Mauro Marini

Superexploitation and the Imperialist Drive of Capitalism: How Marini’s ‘Dialectics of Dependency’ Goes beyond Marx’s ‘Capital’

Andy Higginbottom analyzes the influence of Ruy Mauro Marini on dependency theory and the concept of superexploitation. Marini, he explains, carried Marx’s legacy forward—but there is still work to be done in the twenty-first century. | more…

Thousands of shipping containers at the terminal at Port Elizabeth, New Jersey (2004)

Limits to Supply Chain Resilience: A Monopoly Capital Critique

Capital, Ben Selwyn writes, has been advancing its interests under the guise of protecting “global supply chain resilience.” While those promoting the resilience agenda assert that these supply chains represent a net benefit, evidence suggests that they increase the transfer of surplus value from the Global North and, especially, in the. South. | more…