“Surveillance Capitalism: Monopoly-Finance Capital, the Military-Industrial Complex, and the Digital Age” [PDF] (coauthored with Robert W. McChesney, Foster listed first), Monthly Review vol. 66, no. 11 (July-August 2014), pp. 1-32. DOI: 10.14452/MR-066-03-2014-07_1
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.
1, 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.
2, 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.
- Chinese-language translation in Social Science Abroad, 2015.
- Spanish language translation by Miguel de Punoenrosto in Sin Permiso (July 2014) http://www.sinpermiso.info/textos/index.php?id=7154.
- French Translation by Miguel de Puñoenrostro in Marx Nangara (February 2015).