It matters greatly where you start, in thinking about communications. You may start, for instance, in a mood of excitement and even congratulation that at the present stage of civilization there is a communications system incomparably more vast and efficient than could ever have been imagined: that the voice of radio, the face of television, goes into millions of homes, and that we have the most widely distributed press in the world. You can feel this excitement even if you recognize certain little local difficulties such as a cigarette advertisement appearing just before Robin Hood, or a particularly shocking series in one of the Sunday papers, or even the overnight death of the News Chronicle.… On the other hand, you may be starting from the feeling that never in the history of the world has there been so much production of bad culture. Never, it is true, has there been so much production of any kind, but the percentage of this production which is bad is now appalling.… Many people, good people, have this image of a depraved, or largely depraved, population, whom they call the masses. The people are not profiting by the gleaming machine of communication, but are being reduced to what is usually called a near-moronic mass.… My own starting point is distinct from either of these attitudes. In my view you cannot understand the communications system unless you look at it historically, and this as yet we have not really enough evidence for. Very few people have been working on it.… and because of this, such history of the communications system as exists is mostly bad history, bad history which hides from us the factors which could lead to an understanding of the contemporary situation. | more…
The Theory of Monopoly Capitalism: An Elaboration of Marxian Political Economy was initially written thirty years ago this coming year as my doctoral dissertation at York University in Toronto. It was expanded into a larger book form with three additional chapters (on the state, imperialism, and socialist construction) and published by Monthly Review Press two years later. The analysis of both the dissertation and the book focused primarily on the work of Paul Baran and Paul Sweezy, and particularly on the debate that had grown up around their book, Monopoly Capital: An Essay on the American Economic and Social Order (1966). In this respect The Theory of Monopoly Capitalism was specifically designed, as its subtitle indicated, as an “elaboration” of their underlying theoretical perspective and its wider implications.… Three decades later much has changed, in ways that make the reissuing of The Theory of Monopoly Capitalism in a new edition seem useful and timely. The scholarly research into Baran and Sweezy’s Monopoly Capital has expanded enormously in the intervening years, most notably with the publication of the two missing chapters of Monopoly Capital—one on the theoretical implications of their analysis for economics, the other on culture and communications—and through research into their joint correspondence. The Great Financial Crisis and the resurfacing of economic stagnation have engendered new interest in this tradition of thought. Under this historical impetus the theory itself has advanced to address new developments, particularly with respect to the understanding of stagnation, financialization, and the globalization of monopoly capital. | more…
Though the U.S. ruling class is divided on some issues—how quickly to attack Iran, how much to cut Social Security and Medicare, whether homosexuals should be tolerated or treated as the spawn of Satan—they are united on one thing: the need to “reform” the public school system. “Reform” means more tests, more market mechanisms, and fewer teachers’ unions.… The agenda has deep bipartisan roots. | more…
Millions of people throughout the world mourned the death of Venezuelan President Hugo Chávez on March 5, 2013. Monthly Review responded at the time with numerous pieces posted on MRzine. We would like, however, to record here briefly something of MR‘s own special relationship to the late president, and what we think constitutes his indelible legacy to socialism in the twenty-first century. MR‘s unique connection to Chávez was largely through the influence of István Mészáros—whose relationship to Chávez stretched back for over twenty years, and whom Chávez called “the pathfinder of 21st century socialism”—and through Marta Harnecker and Michael Lebowitz, who both served as consultants to Chávez.… More than a decade followed in which the socialist revolution under Chávez moved forward, creating huge material, social, and cultural improvements for the Venezuelan population, and vastly increased the power of the people over their own lives through new socialist institutions…. The most vital revolutionary achievement in these years was the introduction of the famous “communal councils”—the general idea for which, as Chávez himself stressed on numerous occasions, was taken from Mészáros’s Beyond Capital. | more…
Decollectivization of China’s rural economy in the early 1980s was one of the most significant aspects of the country’s transition to a capitalist economy. Deng Xiaoping praised it as an “innovation,” and its significance to the overall capitalist-oriented “reform” process surely cannot be overstated. The Chinese government has repeatedly referred to the supposed economic benefits of decollectivization as having “greatly increased the incentives to millions of peasants.” Nevertheless, the political-economic implications of decollectivization have always been highly ambiguous, and questionable at best. Individual or small groups of peasants were frequently portrayed in mainstream accounts as political stars for initiating the process, but this served to obscure the deep resistance to decollectivization in many locales. Moreover, the deeper causes and consequences of the agrarian reform are downplayed in most writings, leaving the impression that the rural reform was in the main politically neutral. | more…
Since 9/11, the war on terror and the campaign for homeland security have increasingly mimicked the tactics of the enemies they sought to crush. Violence and punishment as both a media spectacle and a bone-crushing reality have become prominent and influential forces shaping U.S. society. As the boundaries between “the realms of war and civil life have collapsed,” social relations and the public services needed to make them viable have been increasingly privatized and militarized. The logic of profitability works its magic in channeling the public funding of warfare and organized violence into universities, market-based service providers, Hollywood cinema, cable television, and deregulated contractors. The metaphysics of war and associated forms of violence now creep into every aspect of U.S. society. | more…
One of the achievements of Roosevelt’s New Deal administration during the Great Depression was the introduction in 1938 of the federal minimum wage, then set at twenty-five cents an hour. At no time in its history has the minimum wage kept workers out of poverty. But it has helped to stave off the full depths of poverty that would otherwise ensue.… Obama’s proposal in his State of the Union Address to raise the federal minimum wage to $9 an hour…has received widespread support from the population. At the same time it has been subjected to severe criticism from key sectors of capital, which have gone into overdrive in pushing their claim that such a raise in the hourly wage of the poorest segments of society would be a devastating “job killer,” increasing unemployment.… If Obama’s proposal were adopted the real minimum wage would still be about $1.50 short of where it was in 1968 at the end of the Johnson administration, forty-five years ago. Yet, this paltry attempt to lift the floor of wages for the poorest workers in the United States—at a time when the annual income of a single parent receiving the minimum wage is well below the federal poverty line for a family of three—is coming under virulent attack from the vested interests. | more…
A historical perspective on the economic stagnation afflicting the United States and the other advanced capitalist economies requires that we go back to the severe downturn of 1974–1975, which marked the end of the post-Second World War prosperity. The dominant interpretation of the mid–1970s recession was that the full employment of the earlier Keynesian era had laid the basis for the crisis by strengthening labor in relation to capital. As a number of prominent left economists, whose outlook did not differ from the mainstream in this respect, put it, the problem was a capitalist class that was “too weak” and a working class that was “too strong.” Empirically, the slump was commonly attributed to a rise in the wage share of income, squeezing profits. This has come to be known as the “profit-squeeze” theory of crisis. | more…
In Marx’s work, no final presentation of his theory of crisis can be found. Instead, there are various approaches to explain crises. In the twentieth century, the starting point for Marxist debates on crisis theory was the third volume of Capital, the manuscript of which was written in 1864–1865. Later, attention was directed towards the theoretical considerations on crisis in the Theories of Surplus-Value, written in the period between 1861 and 1863. Finally, the Grundrisse of 1857–1858 also came into view, which today plays a central role in the understanding of Marx’s crisis theory for numerous authors. Thus, starting with Capital, the debate gradually shifted its attention to earlier texts. With the Marx Engels Gesamtausgabe (MEGA), all of the economic texts written by Marx between the late 1860s and the late 1870s are now available. Along with his letters, these texts allow for an insight into the development of Marx’s theoretical considerations on crisis after 1865. | more…
America’s latest war, according to renowned social critic Henry Giroux, is a war on youth. While this may seem counterintuitive in our youth-obsessed culture, Giroux lays bare the grim reality of how our educational, social, and economic institutions continually fail young people. Their systemic failure is the result of what Giroux identifies as “four fundamentalisms”: market deregulation, patriotic and religious fervor, the instrumentalization of education, and the militarization of society. | more…
The history of capitalism is replete with cases of successful captains of industry who, suddenly concerned with their place in history, decide to write a book celebrating their achievements, while articulating a new philosophy of philanthropic capitalism—usually with the help of a ghostwriter or “collaborator” of some sort.… [In this genre] is a new book, Conscious Capitalism: Liberating the Heroic Spirit of Business, written by Whole Foods Market co-CEO John Mackey in collaboration with Bentley University professor of marketing Raj Sisodia.… [I]n spite of all the references to a new form of “heroic capitalism,” which cares about employees and customers, Mackey, like most of his class, is a strong proponent of the most extreme forms of neoliberal exploitation. Both in Conscious Capitalism and in his public actions he has shown himself to be virulently anti-union, priding himself on keeping Whole Foods Market 100 percent union free, and slashing the wages of his workers even as profits have increased. | more…
Given [the] background of high unemployment, lower-wage jobs, and smaller portions of the pie going to workers, it should come as no surprise that, according to the U.S. Census Bureau, nearly 50 million people in the United States live in poverty (with income in 2011 below $23,021 for a family of four) while another 50 million live between the poverty level and twice the poverty level—one paycheck away from economic disaster. Thus, the poor (those in poverty or near poverty), most of whom belong to the working poor, account for approximately 100 million people, fully one-third of the entire U.S. population.… Wage repression and high unemployment are the dominant realities of our time. A vast redistribution of income—Robin Hood in reverse—is occurring that is boosting the share of income to capital, even in a stagnating economy. Is it any wonder, then, that for years on end polls have shown a majority of the population agreeing with the statement that the United States is on the wrong track and not headed in the right direction? | more…
