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Barclays Forex Scandal

The Tyranny of Monopoly-Finance Capital

A Chinese Perspective

Since the 1980s, economic growth in the core capitalist countries has been driven by an enormous expansion of financial capital, accompanied by steady deindustrialization. In recent years, the monopoly power of this financial capital has displayed increasingly tyrannical characteristics: it depends for its continued growth on ever-increasing indebtedness and dependence in developing nations, widening the divide between rich and poor and ultimately fostering state violence that serves to suppress popular resistance.… [Today,] military and monetary strength work together to profit from inequality and instability in emerging economies.… | more…

Eifel Tower

Sovereignty and the State of Emergency

France and the United States

Following the July 14, 2016, massacre in Nice, French President François Hollande once again extended for three months a state of emergency that was to have ended on July 26. An initial, twelve-day state of emergency had been declared after the Paris attacks and extended for three months by a law of November 2015. Still another three-month extension was added and came to an end on May 26, only to be extended for two additional months. Despite the obvious ineffectiveness of such a measure…it has been extended yet again, through January 2017.… This normalization of the “state of exception” has provoked only a muted public reaction. France has thus entered into a permanent state of emergency. This choice is not the result of exceptional events to which the country must respond, but rather expresses an intention to change the political system, as shown by the move to constitutionalize the state of emergency.… | more…

East-side raid - Detroit Police

Policing the Poor in Detroit

On the afternoon of November 15, 2013, 150 police officers raided the Colony Arms, a low-income housing complex on Detroit’s East Side. One resident described the scene: “I saw…cop cars with the sirens…some kind of tank blocking the back alley, at least two helicopters doing I don’t know what…. The officers had real, real long rifles. It was like the army or something…like an invasion….” In all, thirty arrests were made, twenty-one related to parking violations. These arrests yielded a total of zero convictions. The raid occurred on a Friday; all those arrested were released from jail by Monday. The raid was declared a resounding success by the Detroit Police Department (DPD) and all of the city’s major media outlets. The raid on the Colony Arms inaugurated Operation Restore Order, a series of seventeen paramilitary police operations carried out between 2013 and 2015. Over the course of the operation, police made over a thousand arrests; as in the Colony Arms raid, however, these yielded little in the way of prosecutions.… | more…

Love and Struggle by David Gilbert

Memories of a U.S. Political Prisoner

“We will fight from one generation to the next.” In the 1960s and 1970s we anti-imperialists in the U.S. were inspired not only by that slogan from Vietnam but even more by how they lived it with their 2000-year history of defeating a series of mighty invaders. At the same time we felt that we just might be on the cusp of world revolution in our lifetimes. Vietnam’s ability to stand up to and eventually defeat the most lethal military machine in world history was the spearhead. Dozens of revolutionary national liberation struggles were sweeping what was then called the “Third World,” today referred to as the “global South.” There was a strategy to win, as articulated by Che Guevara: to overextend and defeat the powerful imperial beast by creating “two, three, many Vietnams.” A range of radical and even revolutionary movements erupted within the U.S. and also in Europe and Japan.… Tragically, the revolutionary potential that felt so palpable then has not been realized.… Today, fighting from one generation to the next takes on new relevance and intense urgency.… | more…

Monthly Review Volume 68, Number 1 (May 2016)

May 2016 (Volume 68, Number 1)

A little less than two years ago, in July-August 2014, Monthly Review published a special summer issue under the title Surveillance Capitalism, edited by John Mage.… The lead article by Foster and McChesney was itself entitled “Surveillance Capitalism: Monopoly-Finance Capital, the Military-Industrial Complex, and the Digital Age.” In Foster and McChesney’s analysis, the problem of surplus absorption under monopoly capital was seen as having led to the development over the last seven decades of a massive surveillance network, extending across the sales effort, finance, and the military, and integral to the entire information economy.… We were therefore pleased to discover that the concept of “surveillance capitalism” has now entered the mainstream and is drawing considerable attention, through the work of Shoshana Zuboff, emeritus professor at the Harvard Business School.… ” She failed, however, to mention the prior treatment of “surveillance capitalism” in Monthly Review, despite the fact that her analysis was written in November 2014—judging by her accessing of numerous articles on the Internet on that date—four months after the MR issue was published and posted online.…… | more…

France: An Algorithmic Power

The Paris attacks of November 13, 2015, demonstrate, if such a demonstration is still necessary, that the aim of new French intelligence laws is not to anticipate or prevent terrorist attacks, but simply to eliminate the private lives of French citizens. President Hollande’s statements that delays in implementing the law were behind the “failure” of the intelligence services are a denial of the fact that this legislation only confirms existing practices. The Law on Intelligence, just like the law on military planning, is mainly an attack on private freedoms. The state of emergency will likewise eliminate public freedoms.… Following the November 13 massacres, the government is already considering changes to the Law on Intelligence, with the aim of “eas[ing] the procedures the intelligence services must follow when they would like to use means of surveillance.” Yet this law does not establish any controls over the activities of the secret services. It does set up a National Control Commission, but this body has no effective possibility of carrying out its mission, and can only offer recommendations. It is not a question, then, of eliminating a control that does not exist, but of signaling that the very idea of monitoring the executive branch should be abandoned—a clear signal that no limitation can or should be placed on its actions.… | more…

The Critique of the State

A Twenty-First Century Perspective

The allegedly less and less power of nation-states is a great exaggeration, voiced by governments in the interest of justifying their failure to introduce even some of their thoroughly limited and once solemnly promised social reforms.… The overwhelming historical failure of capital was—and remains—its inability to constitute the state of the capital system as a whole, while irresistibly asserting the imperatives of its system as the material structural determination of societal reproduction on a global scale. This is a massive contradiction. Inter-state antagonisms on a potentially all-destructive scale—as presaged last century by two world wars still without the now fully developed weapons of total self-destruction—are the necessary consequence of that contradiction. Accordingly, the state that we must conquer in the interest of humanity’s survival is the state as we know it, namely the state in general in its existing reality, as articulated in the course of history, and capable of asserting itself.… | more…

A Defining Moment: The Historical Legacy of the 1953 Iran Coup

Ervand Abrahamian, The Coup: 1953, the CIA, and the Roots of Modern U.S.-Iranian Relations (New York: New Press, 2012), 304 pages, $26.95, hardback.

The Cold War between the Soviet Union and the United States began in earnest as soon as the Second World War ended, shaping most of the remainder of the twentieth century. The U.S. doctrine of “containment” required confronting the Soviets at every point of contact, accompanied by the claim that lasting peace could be reached only through the establishment of an international order based on national states which enjoyed a U.S.-defined political liberty and a capitalist economic order. The Soviets bolstered their security through providing support to countries seen as friendly and close to their borders. Therefore, maintaining influence in Iran was a goal of Soviet foreign policy in the Middle East. U.S. foreign policy was shaped by its own state interests and ideology and driven by the American postwar, worldwide systems of military bases.… It is this turbulent period of geopolitical maneuvering that Ervand Abrahamian’s The Coup revisits. Yet, unlike other books on the 1953 events in Iran, Abrahamian locates the U.S.-backed coup less in the Cold War ideological confrontation between East and West than in the conflicts which opposed imperialism and nationalism; between the center of world capitalism and the underdeveloped economies heavily dependent on exporting raw natural resources.… | more…

How We Found Out About COINTELPRO

Betty Medsger, The Burglary: The Discovery of J. Edgar Hoover’s Secret FBI (New York: Alfred A. Knopf, 2014), 544 pages, $29.95, hardcover.

Activists in the anti-war, civil rights, and New Left movements in the 1950s and ’60s were sure they and their organizations were being spied on by J. Edgar Hoover’s FBI. …. But there was little hard proof of a wider strategy to destroy deliberately entire organizations by the use of completely illegal methods. That was soon to change.… In late 1970 [William Davidon] recruited seven other anti-war activists, mostly pacifists, into a secret Citizens Committee to Investigate the FBI. On March 8, 1971, the night of the Mohammed-Ali-Joe Frazier heavyweight match, they broke into the unprotected offices of the FBI in Media, Pennsylvania and made off with all the files, on the assumption that they would find evidence of the FBI’s systematic spying on Americans. They had no idea that what they had in their hands would soon expose much more.… | more…

Surveillance Capitalism

Monopoly-Finance Capital, the Military-Industrial Complex, and the Digital Age

The United States came out of the Second World War as the hegemonic power in the world economy. The war had lifted the U.S. economy out of the Great Depression by providing the needed effective demand in the form of endless orders for armaments and troops. Real output rose by 65 percent between 1940 and 1944, and industrial production jumped by 90 percent. At the immediate end of the war, due to the destruction of the European and Japanese economies, the United States accounted for over 60 percent of world manufacturing output. The very palpable fear at the top of society as the war came to a close was that of a reversion to the pre-war situation in which domestic demand would be insufficient to absorb the enormous and growing potential economic surplus generated by the production system, thereby leading to a renewed condition of economic stagnation and depression.… Postwar planners in industry and government moved quickly to stabilize the system through the massive promotion of a sales effort in the form of a corporate marketing revolution based in Madison Avenue, and through the creation of a permanent warfare state, dedicated to the imperial control of world markets and to fighting the Cold War, with its headquarters in the Pentagon. The sales effort and the military-industrial complex constituted the two main surplus-absorption mechanisms (beyond capitalist consumption and investment) in the U.S. economy in the first quarter-century after the Second World War.… | more…

Electronic Communications Surveillance

The government is collecting information on millions of citizens. Phone, Internet, and email habits, credit card and bank records—virtually all information that is communicated electronically is subject to the watchful eye of the state. The government is even building a nifty, 1.5 million square foot facility in Utah to house all of this data. With the recent exposure of the NSA’s PRISM program by whistleblower Edward Snowden, many people—especially activists—are wondering: How much privacy do we actually have? Well, as far as electronic privacy, the short answer is: None. None at all. There are a few ways to protect yourself, but ultimately, nothing in electronic communications is absolutely protected.… | more…

The New Surveillance Normal

NSA and Corporate Surveillance in the Age of Global Capitalism

The National Security Agency (NSA) document cache released by Edward Snowden reveals a need to re-theorize the role of state and corporate surveillance systems in an age of neoliberal global capitalism. While much remains unknowable to us, we now are in a world where private communications are legible in previously inconceivable ways, ideologies of surveillance are undergoing rapid transformations, and the commodification of metadata (and other surveillance intelligence) transforms privacy. In light of this, we need to consider how the NSA and corporate metadata mining converge to support the interests of capital.… | more…