New Book: The Russians Are Coming, Again – The First Cold War as Tragedy, the Second as Farce

by Jeremy Kuzmarov and John Marciano. From Monthly Review Press: Karl Marx famously wrote in The Eighteenth Brumaire of Louis Napoleon that history repeats itself, “first as tragedy, then as farce.” The Cold War, waged between the United States and Soviet Union from 1945 until the latter’s dissolution in 1991, was a great tragedy, resulting … More New Book: The Russians Are Coming, Again – The First Cold War as Tragedy, the Second as Farce

The Multiple Meanings of Marx’s Value Theory

by Riccardo Bellofiore. Originally posted here Karl Marx’s “critique of political economy” is grounded in his value theory. “Critique” has to be distinguished from criticism: Marx aimed not only to point out the errors of political economy, but also to learn from its scientific results. Here the key names are François Quesnay, Adam Smith, and … More The Multiple Meanings of Marx’s Value Theory

The Pharmaceutical Industry in Contemporary Capitalism

by Joel Lexchin, originally posted here The pharmaceutical industry has remained near or at the top of the list for profitability for many decades.1 The myth is that its profits come from producing and selling the many therapeutic advances that industry research has generated, but the reality is far different. In the first place, after … More The Pharmaceutical Industry in Contemporary Capitalism

Invisible Exploitation – How Capital Extracts Value Beyond Wage Labor

by Eva Swidler, The Marxist analysis of work under capitalism has long been associated with a preoccupation with wage labor: waged workers as wage-slaves, industrial workers as the revolutionary proletariat, and factory workers as the vanguard. The labor theory of value has been widely seen as applying to the wage form of work and no … More Invisible Exploitation – How Capital Extracts Value Beyond Wage Labor

Socialist Register 2018: Rethinking Democracy

Edited by Gregory Albo and Leo Panitch, 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 … More Socialist Register 2018: Rethinking Democracy