Free Markets and the Decline of Democracy

By John Weeks, The ideology of market freedom achieves its fullest expression in an authoritarian state.  The regulation of market processes in the United States and Western Europe after WWII suppressed the authoritarianism inherent in capitalism.  The reduction of state controls over capital that began in the 1970s initiated the liberation of that authoritarianism.  The … More Free Markets and the Decline of Democracy

Economists’ Politics Loom Large in their Views of Capitalist Crises

By Mark Horowitz, Radical critics have long maligned economists for their role in normalizing capitalist production relations. Marx wrote famously that classical and later “vulgar” economic theories were “more or less conscious” efforts to present capitalist production as “governed by eternal and natural laws which are independent of history.” This theme endures in Marxist literature.  Economists … More Economists’ Politics Loom Large in their Views of Capitalist Crises

Breaking Through: Towards Second-Generation Neo-Marxist Class Theory

By Dave Neilson, The neo-Marxist challenge to the orthodox Marxist approach opened up a period of exciting, but short-lived, innovation. By the end of the 1980s, first generation neo-Marxism was already reaching its limits. It lives on in the present as an unconsciously accepted ‘normal science’ that is overdue for critical renovation. Orthodox Marxism identifies … More Breaking Through: Towards Second-Generation Neo-Marxist Class Theory

Struggles New and Old: Yellow Vests, the French Revolution and 21-Century Anti-Capitalism

By Keith Mann, For over three months now in France, the gilet jaune or yellow vest revolt has mounted one of the biggest and most sustained challenges to neo-liberal capitalism anywhere in recent years. The movement has shown remarkable staying power, mobilized large numbers of people, first in rural areas and then in the capital … More Struggles New and Old: Yellow Vests, the French Revolution and 21-Century Anti-Capitalism

Claiming Too Much for Exchange

By Bill Dunn, The theories of monopoly capitalism and unequal exchange make important contributions to economic theory. They emphasize, respectively, how big companies can use their power over consumers and smaller-firm suppliers, and how rich countries can exploit poorer ones. Capitalist exchange is not a realm of freedom and equality. However, both theories continue to … More Claiming Too Much for Exchange

Global Commodity Chains and the New Imperialism

By Intan Suwandi, R. Jamil Jonna and John Bellamy Foster (originally posted at Monthly Review), Twenty-first-century capitalist production can no longer be understood as a mere aggregation of national economies, to be analyzed simply in terms of the gross national products (GDPs) of the separate economies and the trade and capital exchanges occurring between them. … More Global Commodity Chains and the New Imperialism