The days of boom and bubble are over, and the time has come to understand the long-term economic reality. Although the Great Recession officially ended in June 2009, hopes for a new phase of rapid economic expansion were quickly dashed. Instead, growth has been slow, unemployment has remained high, wages and benefits have seen little […]
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The Endless Crisis
By John Bellamy Foster on May 1, 2012 in Articles, Other Major Scholarly Journal Articles, Translated
The Great Financial Crisis and the Great Recession began in the United States in 2007 and quickly spread across the globe, marking what appears to be a turning point in world history. Although this was followed within two years by a recovery phase, the world economy five years after the onset of the crisis is […]
Weber and the Environment
In the last two decades classical sociology, notably Marx, has been mined for environmental insights in the attempt to surmount the “human exemptionalism” of post–Second World War sociology. Weber, however, has remained an enigma in this respect. This article addresses Weber’s approach to the environment, including its significance for his interpretive-causal framework and his understanding […]
The Global Stagnation and China
By John Bellamy Foster on February 1, 2012 in Articles, Other Major Scholarly Journal Articles, Translated
Five years after the Great Financial Crisis of 2007–09 began there is still no sign of a full recovery of the world economy. Consequently, concern has increasingly shifted from financial crisis and recession to slow growth or stagnation, causing some to dub the current era the Great Stagnation. Stagnation and financial crisis are now seen […]
The Global Reserve Army of Labor and the New Imperialism
By John Bellamy Foster on November 1, 2011 in Articles, Other Major Scholarly Journal Articles, Translated
In the last few decades there has been an enormous shift in the capitalist economy in the direction of the globalization of production. Much of the increase in manufacturing and even services production that would have formerly taken place in the global North—as well as a portion of the North’s preexisting production—is now being offshored […]
The Internationalization of Monopoly Capital
By John Bellamy Foster on June 1, 2011 in Articles, Other Major Scholarly Journal Articles, Translated
In a 1997 article entitled “More (or Less) on Globalization,” Paul Sweezy referred to “the three most important underlying trends in the recent history of capitalism, the period beginning with the recession of 1974-75: (1) the slowing down of the overall rate of growth; (2) the worldwide proliferation of monopolistic (or oligopolistic) multinational corporations; and […]
Monopoly and Competition in the 21st Century
By John Bellamy Foster on April 1, 2011 in Articles, Other Major Scholarly Journal Articles, Translated
A striking paradox animates political economy in our times. On the one hand, mainstream economics and much of left economics discuss our era as one of intense and increased competition among businesses, now on a global scale. It is a matter so self-evident as no longer to require empirical verification or scholarly examination. On the […]
The Internet’s Unholy Marriage to Capitalism
By John Bellamy Foster on March 1, 2011 in Articles, Other Major Scholarly Journal Articles, Translated
The United States and the world are now a good two decades into the Internet revolution, or what was once called the information age. The past generation has seen a blizzard of mind-boggling developments in communication, ranging from the World Wide Web and broadband, to ubiquitous cell phones that are quickly becoming high-powered wireless computers […]
Capitalism and the Curse of Energy Efficiency
By John Bellamy Foster on November 1, 2010 in Articles, Other Major Scholarly Journal Articles, Translated
The curse of energy efficiency, better known as the Jevons Paradox—the idea that increased energy (and material-resource) efficiency leads not to conservation but increased use—was first raised by William Stanley Jevons in the nineteenth century. Although forgotten for most of the twentieth century, the Jevons Paradox has been rediscovered in recent decades and stands squarely […]
The Ecological Rift
Humanity in the twenty-first century is facing what might be described as its ultimate environmental catastrophe: the destruction of the climate that has nurtured human civilization and with it the basis of life on earth as we know it. All ecosystems on the planet are now in decline. Enormous rifts have been driven through the […]
