John Bellamy Foster

Tag: Hannah Holleman

  • The Sales Effort and Monopoly Capital

    The Sales Effort and Monopoly Capital

    “The Sales Effort and Monopoly Capital“, (coauthored with Robert W. McChesney, Inger L. Stole, and Hannah Holleman, Foster listed second), Monthly Review vol. 60, no. 11 (April 2009), pp. 1-23. DOI: 10.14452/MR-060-11-2009-04_1

    On the eightieth anniversary of the 1929 Stock Market Crash that led to the Great Depression, the United States is once again caught in a Great Financial Crisis and deep downturn of an order of magnitude comparable to the 1930s. At the center of this crisis is plunging consumer spending, caused by the destruction of household finance as a result of decades of wage stagnation and the piling up of debt. Consumer spending in today’s economy, dominated by giant firms, is significantly dependent on the sales effort, i.e., marketing as a whole, with advertising as its most conspicuous form. But the sales effort is also ebbing in the crisis, contributing to the general decline. So integral is the sales effort to the regime of monopoly capital that one cannot be understood without the other.

    Translations:
    • Portuguese translation in Monthly Review, Portuguese-Language Edition, April 2009.
    • Translated in Monthly Review, Turkish edition, no. 26 (Istanbul: Kalkedon, March 2011).

     

  • The U.S. Imperial Triangle and Military Spending

    The U.S. Imperial Triangle and Military Spending

    “The U.S. Imperial Triangle and Military Spending“, (coauthored with Hannah Holleman and Robert W. McChesney, Foster listed first), Monthly Review, vol. 60, no. 5 (October 2008), pp. 1-19. DOI: 10.14452/MR-060-05-2008-09_1

    Note: due to an unfortunate error in the publication of the Turkish edition, in which the bylines of two different articles were confused, the authors are mistakenly listed as Richard York, Brett Clark, and John Bellamy Foster.

    The United States is unique today among major states in the degree of its reliance on military spending, and its determination to stand astride the world, militarily as well as economically. No other country in the post–Second World War world has been so globally destructive or inflicted so many war fatalities. Since 2001, acknowledged U.S. national defense spending has increased by almost 60 percent in real dollar terms to a level in 2007 of $553 billion. This is higher than at any point since the Second World War (though lower than previous decades as a percentage of GDP). Based on such official figures, the United States is reported by the Stockholm International Peace Research Institute (SIPRI) as accounting for 45 percent of world military expenditures. Yet, so gargantuan and labyrinthine are U.S. military expenditures that the above grossly understates their true magnitude, which, as we shall see below, reached $1 trillion in 2007.

    Translations:
    • Bangla translation in Natun Diganta (a Bangla quarterly from Dhaka), July-September 2009.
    • Translated by Farooque Chowdhury. Turkish translation in Monthly Review, Turkish edition (Istanbul: Kalkeodon), no. 22, pp. 7-28.