This month, MR editors take on the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, a pale imitation of the five authentic Nobel Prizes that is aimed at reinforcing the ideology of neoclassical economics and awarded to mainstream liberal economists who defend the institutions of capitalism. In line with this tradition, the editors note, the most recent winners are keen apologists for settler colonialism and Zionism. | more…
John Bellamy Foster revisits and critiques the contention that the U.S. capitalist class is not a “governing” class, or indeed a class-conscious bloc in any sense. However, he writes, the fact that the ruling-class oligarchy is now openly wielding power on the national and international stages as part of the Trump regime shows that the overwhelming political influence of the capitalist class is no longer in dispute as this alignment pushes the country deeper into neofascism. | more…
What is ecological civilization? In this article, Chen Yiwen presents a dialectical analysis that illuminates the theoretical and practical elements of ecological civilization, particularly as it develops in the context of China. In China, she notes, significant progress has been made, but there remain outstanding questions that must be resolved during the transition to an ecologically harmonious society that promotes global equality and human flourishing. | more…
Yumeng Liu takes a deep dive into the history of Laos, the only socialist nation among the Theravāda Buddhist countries of Southeast Asia, examining how the country has developed its own particular approach to socialism, influenced by both local Buddhist beliefs and Marxist ideology. Liu also explores the historical and present-day tensions inherent in this uniquely Lao approach to socialist development. | more…
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“The Big Business-military coalition in the United States,” Paul A. Baran wrote in this prescient reprise from 1952, “assumes all of the functions of a fascist regime…. And it develops rapidly into its own American variety of government under capitalism in an age of imperialism, wars, and national and social revolutions. It becomes fully adapted to its sinister historical mission—to be the instrument of ruthless class struggle on the national and international planes.” | more…
John Bellamy Foster and Gabriel Rockhill assess the history and influence of Western Marxism, defined not geographically, but by a rejection of the Marxism developed in the Soviet Union, in the Global South, and even in classical Marxism. This strain of Marxist thought, birthed in the imperial core, represents a concession to the dominance of U.S. ideology, rather than to correct the pressing issues confronting society today. | more…
In this excerpt from Ellen Meiksins Wood’s In Defense of History, Wood appraises the state of postmodern thought in the late twentieth century. “Today’s postmodernism,” Wood writes, “for all of its apparently defeatist pessimism, is still rooted in the ‘Golden Age of Capitalism.’ It’s time to leave that legacy behind and face today’s realities.” | more…
Torkil Lauesen delves into the legacy of celebrated Arghiri Emmanuel, whose theory of unequal exchange resonates well into the twenty-first century. Introduced in 1962, Emmanuel’s critique of Ricardian and neoliberal capitalism further illuminated the Marxist concept value as it relates to global exchange and the ongoing exploitation of the Global South by the Global North. | more…
Using data from Brazil’s Integrated System of Household Surveys, Renata Falavina and Gabriel Ulbricht employ Marxist categories in order to illuminate the concept of the reserve army of labor in the context of underemployment and informal labor in modern-day Brazil. This view, the authors write, shows that the dichotomy of full employment and unemployment fails to capture the complexity of unstable labor dynamics in a world of informal and precarious work. | more…
A new poem by Marge Piercy. | more…
The editors recall the life and accomplishments of Amiya Kumar Bagchi, a leading light among contemporary Marxist political economists. Bagchi’s insights challenged prevailing Eurocentric ideas about economic history while providing a path forward through a collective, united, anti-imperialist resistance. | more…
Over the last quarter century—and especially since the beginning of Israel’s latest genocidal incursion into Palestine in October 2023—the term “settler colonialism” has proliferated in academic and popular discourse. In February’s “Review of the Month,” John Bellamy Foster connects readers to thinkers from around the globe and across time to illustrate the phenomenon of settler colonialism as a dimension of imperialism, and thus capitalism, driven by a rapacious extractivism that threatens the whole of humanity. | more…