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Monthly Review Volume 70, Number 2 (June 2018)

June 2018 (Volume 70, Number 2)

With the eruption in March of the scandal around Cambridge Analytica and Facebook, articles raising the alarm on “surveillance capitalism” are suddenly everywhere. The term, which was coined in MR in August of 2014, was developed to highlight the links between digital spying systems and contemporary capitalism as a whole. Academic interpretations of the concept effectively divorced surveillance capitalism from class analysis, and from the overall political-economic structure of capitalism—as if surveillance could be abstracted from monopoly-finance capital as a whole. | more…

Inside a Haier Pakistan factory

The China–Pakistan Economic Corridor

Beyond the Rule of Capital?

Three hundred years after what became known in the nineteenth century as the Great Game—a struggle for regional hegemony between the British and Russian Empires—Southwest Asia remains an imperial staging ground. The U.S. invasion of Afghanistan in September 2001 signaled Washington’s desire to cement its hegemonic position, but seventeen years later it is mired in an unwinnable war, even as the U.S. economy—and that of much of the Western world—endures the “endless crisis” of contemporary capitalism. | more…

Protest against worker precariousness

The New Service Proletariat

From call centers to fast-food restaurants, the future of service work is one of precarious employment, with no stable schedules, wages, benefits, or union representation. Should these workers be considered part of a new service proletariat, or treated as a new class altogether, the “precariat”? | 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…

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…

The Apocalypse of Settler Colonialism: The Roots of Slavery, White Supremacy, and Capitalism in Seventeenth-Century North America and the Caribbean

The Apocalypse of Settler Colonialism: The Roots of Slavery, White Supremacy, and Capitalism in Seventeenth-Century North America and the Caribbean

Virtually no part of the modern United States—the economy, education, constitutional law, religious institutions, sports, literature, economics, even protest movements—can be understood without first understanding the slavery and dispossession that laid its foundation. To that end, historian Gerald Horne digs deeply into Europe’s colonization of Africa and the New World, when, from Columbus’s arrival until the Civil War, some 13 million Africans and some 5 million Native Americans were forced to build and cultivate a society extolling “liberty and justice for all.” | more…

Monthly Review Volume 69, Number 9 (February 2018)

February 2018 (Volume 69, Number 9)

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. | more…

Rethinking Democracy: Socialist Register 2018

Socialist Register 2018: Rethinking Democracy

For years, intellectuals have argued that, with the triumph of capitalist, liberal democracy, the Western World has reached “the end of history.” Recently, however, there has been a rise of authoritarian politics in many countries. Concepts of post-democracy, anti-politics, and the like are gaining currency in theoretical and political debate. Now that capitalist democracies are facing seismic and systemic challenges, it becomes increasingly important to investigate not only the inherent antagonism between liberalism and the democratic process, but also socialism. Is socialism an enemy of democracy? Could socialism develop, expand, even enhance democracy? | more…

A Foodie's Guide to Capitalism: Understanding the Political Economy of What We Eat

A Foodie’s Guide to Capitalism: Understanding the Political Economy of What We Eat

Capitalism drives our global food system. Everyone who wants to end hunger, who wants to eat good, clean, healthy food, needs to understand capitalism. This book will help do that. In his latest book, Eric Holt-Giménez takes on the social, environmental, and economic crises of the capitalist mode of food production. Drawing from classical and modern analyses, A Foodie’s Guide to Capitalism introduces the reader to the history of our food system and to the basics of capitalism. In straightforward prose, Holt-Giménez explains the political economics of why—even as local, organic, and gourmet food have spread around the world—billions go hungry in the midst of abundance; why obesity is a global epidemic; and why land-grabbing, global warming, and environmental pollution are increasing. | more…

Monthly Review Volume 69, Number 6 (November 2017)

November 2017 (Volume 69, Number 6)

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. | more…

Organoponico Vivero Alamar

Cuba’s New Cooperatives

Historians have long documented the ways that capitalism drew its early accumulation from the dispossession of commonly owned resources—a process that continues to this day. Building a socialist society and economy can be thought of as a reversal of this process—a reclaiming of commons. The resources that contribute to human development do so best when shared and governed democratically. This includes not only the forests and fields of the pre-capitalist past, but also education and health care systems, parks and streets, waterways, and the shared culture, knowledge, and productive resources of a society. | more…