April 1, 2007
Changes in capitalism over the last three decades have been commonly characterized using a trio of terms: neoliberalism, globalization, and financialization. Although a lot has been written on the first two of these, much less attention has been given to the third. Yet, financialization is now increasingly seen as the dominant force in this triad. The financialization of capitalism-the shift in gravity of economic activity from production (and even from much of the growing service sector) to finance—is thus one of the key issues of our time. More than any other phenomenon it raises the question: has capitalism entered a new stage?
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April 1, 2007
Once upon a time the capitalist mode of production represented a great advance over all of the preceding ones, however problematical and indeed destructive this historical advance in the end turned out-and had to turn out-to be. By breaking the long prevailing but constraining direct link between human use and production, and replacing it with the commodity relation, capital opened up the dynamically unfolding possibilities of apparently irresistible expansion to which -- from the standpoint of the capital system and of its willing personifications -- there could be no conceivable limits. For the paradoxical and ultimately quite untenable inner determination of capital's productive system is that its commodified products "are non-use-values for their owners and use-values for their non-owners. Consequently they must all change hands. . . . Hence commodities must be realised as values before they can be realised as use-values."
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April 1, 2007
Twenty-first century capitalism is not an improved and benign version of its nineteenth- and twentieth-century manifestations, nor will it ever be, despite daily bluster by the system's practitioners and apologists that a rising tide of prosperity will soon lift all boats. The animating principles of capitalism governing the pursuit of profits are as hollow and iniquitous now as they were in 1848, especially where human exploitation and the distribution of wealth are concerned. As super-capitalist Warren Buffett remarked recently in a trenchant understatement: "A market system has not worked well in terms of poor people" (The New York Times, June 27, 2006)
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April 1, 2007
Although some idealize and others demean the work of teachers, few people outside the field fully understand what it really means to teach. Misconceptions about teaching influence the ways that Americans think about the profession. One of the manifestations of this enduring disconnect between the American public and the professionals who teach is the low salaries teachers receive. This is the main issue that Moulthrop, Calegari, and Eggers tackle in this thorough and valuable ethnographic study of the lives of teachers, their daily struggle to make ends meet, and what it means to teach
March 1, 2007
Our friends Leo Panitch and Colin Leys, editors of the Socialist Register, have recently published Coming to Terms with Nature: Socialist Register, 2007 (Monthly Review Press, 2006), which includes contributions by a distinguished group of analysts addressing crucial environmental issues—dealing with everything from "fossil capitalism" to eco-localism
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March 1, 2007
Rank-and-file rebellions began rumbling in the coalfields from Pittsburgh and down the Ohio River after 1964, when dissident miners first challenged incumbents in international and district United Mine Workers (UMW) elections. Concern and anger also seethed through the coalfields of southern West Virginia during those years, particularly over black lung, a painful and often-fatal occupational disease. Doctors Isadore E. Buff and Donald Rasmussen helped spark those rumblings with speeches in union halls, schools, and churches
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March 1, 2007
I have always lived in the long shadow of race. Johnstown, Pittsburgh, Portland, Miami Beach, in every city racist remarks and racist actions were commonplace. You didn't have to look for them; they were hard to escape. And on our road trips, no matter where we went or for how few days, it was not at all unusual for a white person to offer a racist comment. It is almost as if there is an understanding among whites that they are all fellow conspirators in the race war
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February 12, 2007
Monthly Review Press is publishing an exceptionally strong collection of new books in 2007. However, like most small presses the modest budgets we can devote to the promotion of these books scarcely allow us to be heard above the din created by the massive promotional campaigns of the large corporate publishing firms, which are, of course, mere arms of much greater media conglomerates. We are therefore hoping successfully to promote these new books mainly by word of mouth with the help of MR readers and friends. In this space last month we referred to Michael D. Yates's new book, Cheap Motels and a Hot Plate, which is now available. Two other new releases are Jean Bricmont's Humanitarian Imperialism: Using Human Rights to Sell War (translated from the French by Diana Johnstone), and The Socialist Register, 2007: Coming to Terms with Nature, edited by Leo Panitch and Colin Leys. Bricmont's book seeks to reintroduce the critique of imperialism to the global discussion on human rights, while the new Socialist Register addresses the emerging eco-socialist critique of capitalism
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February 1, 2007
In the 2006 presidential election campaign in Brazil, President Luiz Inácio Lula da Silva (known as Lula), leader of the Partido dos Trabalhadores (PT or Workers' Party), was interviewed at length on July 11, 2006, by the Financial Times (which also interviewed Lula's main rightist challenger Geraldo Alckmin). The interview touched on many topics but mainly concentrated on Lula's adherence in his first term of office to the global neoliberal policies of monopoly-finance capital, particularly repayment of debt and "fiscal responsibility." At two points in the interview the Financial Times bluntly asked whether Lula was looking toward a "radical change in the model," i.e., whether he and his Workers' Party intended to break with financial capital and neoliberalism in his second term of office. Lula gave them the answer they wanted: "There is no radical change in the model....What we need now, in economics and in politics, is to strengthen Brazil's internal and external security."
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February 1, 2007
These articles were written five months before the first round of presidential elections in Brazil, on October 1, 2006. The second round, on October 29, saw Lula reelected with 58.3 million votes (60.78 percent of all valid votes), beating Geraldo Alckmin, the candidate for the Partido Social Democrata Brasileiro (PSDB), the party of Fernando Henrique Cardoso, Lula's predecessor in office. Lula won this second four-year mandate after a campaign revolving around ethical issues and allegations of corruption against government officials and high-ranking members of his Partido dos Trabalhadores (PT)—allegations from opposition parties, right and left. The campaign included the pathetic episode of PT officials trying to buy information on candidates from the PSDB in the State of São Paulo (economically and politically speaking, one of the most important states in the union, with a strong oppositional streak), and a concerted nationwide media campaign for Alckmin on a scale never before seen in Brazil
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