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The Age of Monopoly Capital: Selected Correspondence of Paul A. Baran and Paul M. Sweezy, 1949-1964

A Marxist Correspondence

Paul A. Baran (1910–1964) and Paul M. Sweezy (1910–2004) were two of the most creative and influential Marxist economists of the last century. The Age of Monopoly Capital collects hundreds of letters between Baran and Sweezy, written between 1949 and Baran’s death in 1964. The correspondence contains numerous interesting, important, and unanticipated ideas. Nuggets of wisdom about economic theory, socialist history, dialectical method, academic politics, and many other topics are scattered throughout. | more…

Paul M. Sweezy and Paul A. Baran

Two Intellectual Giants of the American Left

Instead of theory, early U.S. radicals excelled in reportage, like John Reed’s Ten Days That Shook the World, or fiction, like Upton Sinclair’s packing-house shocker The Jungle. To Europeans American thought seemed impermeable to the difficult ideas of Marxism. That changed with the founding of Monthly Review in 1949, which marked a newly realized if not entirely new trend in American Marxist thought. | more…

A spectre haunts capitalism

Marx’s Open-Ended Critique

Against attempts to characterize Marx as a dogmatic and deterministic thinker, it is precisely the open-endedness of his criticism that accounts for historical materialism’s staying power. This openness has allowed Marxism to continually reinvent itself, expanding its empirical and theoretical content and embracing ever larger aspects of historical reality. | more…

Romans during the Decadence

Revolution or Decadence?

Thoughts on the Transition between Modes of Production on the Occasion of the Marx Bicentennial

Revolution is still on the agenda for the global periphery. Restorations in the course of socialist transition are not irrevocable—and in the weak links of the center, breaks in the imperialist front are not inconceivable. | more…

Section of the Diego Rivera's mural "From the conquest to 1930" focusing on Marx and the class struggle

The Multiple Meanings of Marx’s Value Theory

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. | more…

Culture as Politics: Selected Writings of Christopher Caudwell

Considered by many to be the most innovative British Marxist writer of the twentieth century, Christopher Caudwell was killed in the Spanish Civil War at the age of 29. Although already a published writer of aeronautic texts and crime fiction, he was practically unknown to the public until reviews appeared of Illusion and Reality: A Study of the Sources of Poetry, which was published just after his death. A strikingly original study of poetry’s role, it explained in clear language how the organizing of emotion in society plays a part in social change and development. Culture as Politics introduces Caudwell’s work through his most accessible and relevant writing. Material will be drawn from Illusion and Reality, Studies in a Dying Culture and his essay, “Heredity and Development.” | more…

Modern Imperialism, Monopoly Finance Capital, and Marx's Law of Value: Monopoly Capital and Marx's Law of Value

Modern Imperialism, Monopoly Finance Capital, and Marx’s Law of Value

Unlike such obvious forms of oppression as feudalism or slavery, capitalism has been able to survive through its genius for disguising corporate profit imperatives as opportunities for individual human equality and advancement. But it was the genius of Karl Marx, in his masterwork, Capital, to discover the converse law of surplus value: behind the illusion of the democratic, supply-and-demand marketplace, lies the workplace, where people trying to earn a living are required to work way beyond the time it takes to pay their wages. Leave it to the genius of Samir Amin to advance Marx’s theories—adding to them the work of radical economists such as Michal Kalecki, Josef Steindl, Paul Baran, and Paul Sweezy—to show how Marxian theory can be adapted to modern economic conditions. | more…

Black Women Will Not Be Intimidated

Invisible Exploitation

How Capital Extracts Value Beyond Wage Labor

An expanded Marxist understanding of capitalist exploitation is long overdue. There are many pathways of surplus extraction beyond the wage form, and understanding them is a task with profound implications for anticapitalist movements around the world. | more…

In the Name of Women’s Rights: The Rise of Femonationalism book cover

Patriarchies East and West

Sara Farris’s In the Name of Women’s Rights is a brave monograph that analyzes the way that the discourses of Europe’s right-wing nationalists, government agencies, and liberal feminists converge in their representations of Muslim and non-western immigrant women, relegating these communities to commodified spheres of social reproductive work. | more…

Can the Working Class Change the World?

Can the Working Class Change the World?

Forthcoming in September 2018

One of the horrors of the capitalist system is that slave labor, which was central to the formation and growth of capitalism itself, is still fully able to coexist alongside wage labor. But, as Karl Marx pointed out, it is the fact of being paid for one's work that validates capitalism as a viable socio-economic structure. Beneath this veil of “free commerce”—where workers are paid only for a portion of their workday, and buyers and sellers in the marketplace face each other as “equals”—lies a foundation of immense inequality. Yet workers have always rebelled. They've organized unions, struck, picketed, boycotted, formed political organizations and parties—sometimes they have actually won and improved their lives. In his timely and innovative book, Michael D. Yates asks if the working class can, indeed, change the world. | more…

Mythologies of State and Monopoly Power

Mythologies of State and Monopoly Power

Forthcoming in September 2018

“Mythologies,” writes veteran human rights lawyer Michael Tigar, “are structures of words and images that portray people, institutions, and events in ways that mask an underlying reality.” For instance, the “Justice Department” appears, by its very nature and practice, to appropriate “justice” as the exclusive property of the federal government. In his brilliantly acerbic collection of essays, Tigar reveals, deconstructs, and eviscerates mythologies surrounding the U.S. criminal justice system, racism, free expression, workers’ rights, and international human rights. | more…

The Coming of the American Behemoth

The Coming of the American Behemoth: The Origins of Fascism in the United States, 1920–1940

Forthcoming in October 2018

Most people in the United States have been trained to recognize fascism in movements such as Germany’s Third Reich or Italy’s National Fascist Party, where charismatic demagogues manipulate incensed, vengeful masses. We rarely think of fascism as linked to the essence of monopoly-finance capitalism, operating under the guise of American free-enterprise. But, as Michael Joseph Roberto argues, this is exactly where fascism’s embryonic forms began gestating in the United States, during the so-called prosperous 1920s and the Great Depression of the following decade. | more…

Navigating the Zeitgeist

Navigating the Zeitgeist: A Story of the Cold War, the New Left, Irish Republicanism, and International Communism

Forthcoming in January 2019

Why would an American girl-child, born into a good, Irish-Catholic family in the thick of the McCarthy era—a girl who, when she came of age, entered a convent—morph into an atheist, feminist, and Marxist? The answer is in Helena Sheehan’s fascinating account of her journey from her 1940s and 1950s beginnings, into the turbulent 1960s, when the Vietnam War, black power, and women’s liberation rocked her bedrock assumptions and prompted a volley of life-upending questions—questions shared by millions of young people of her generation. But, for Helena Sheehan, the increasingly radicalized answers deepened through the following decades. | more…

A Socialist Defector

A Socialist Defector: From Harvard to Karl-Marx-Allee

Forthcoming in February 2019

The circumstances that impelled Victor Grossman, a U.S. Army draftee stationed in Europe, to flee a military prison sentence were the icy pressures of the McCarthy Era. Grossman—a.k.a. Steve Wechsler, a committed leftist since his years at Harvard and, briefly, as a factory worker—left his barracks in Bavaria one August day in 1952, and, in a panic, swam across the Danube River from the Austrian U.S. Zone to the Soviet Zone. Fate—i.e., the Soviets—landed him in East Germany, officially the German Democratic Republic. There he remained, observer and participant, husband and father, as he watched the rise and successes, the travails, and the eventual demise of the GDR socialist experiment. | more…