John Bellamy Foster

Tag: Monthly Review (Turkish)

  • Monopoly-Finance Capital and the Paradox of Accumulation

    Monopoly-Finance Capital and the Paradox of Accumulation

    “Monopoly-Finance Capital and the Paradox of Accumulation“, (coauthored with Robert W. McChesney, Foster listed first), Monthly Review vol. 61, no. 5 (October 2009), pp. 1-20.  DOI: 10.14452/MR-061-05-2009-09_1

    This month marks the eightieth anniversary of the 1929 Stock Market Crash that precipitated the Great Depression of the 1930s. Ironically, this comes at the very moment that the capitalist system is celebrating having narrowly escaped falling into a similar abyss. The financial crash and the decline in output a year ago, following the collapse of Lehman Brothers, was as steep as at the beginning of the Great Depression. “For a while,” Paul Krugman wrote in the New York Times in August, “key economic indicators — world trade, world industrial production, even stock prices—were falling as fast or faster than they did in 1929-30. But in the 1930s the trend lines kept heading down. This time, the plunge appears to be ending after just one terrible year.” Big government, through the federal bailout and stimulus, as well as the shock-absorber effects of the continued payouts of unemployment and Social Security benefits, Medicare, etc., slowed the descent and helped the economy to level off, albeit at a point well below previous output.

    Reprints:
    • Reprinted in John F. Sitton, ed., Marx Today: Selected Works and Recent Debates (New York: Palgrave-Macmillan, 2010), 185-200.
    Translations:
    • Galician translation by Xosé Díaz Díaz in Terra e Tempo (no. 2, 2010), http://www.terraetempo.net.
    • Arabic translation by Thamer Al-Saffar, Civilized Dialogue, May 24, 2010, http://www.ahewar.org.
    • Chinese transltion in Foreign Theoretical Trends,2010.
    • Turkish translations appears in Kapitalizmin Finansal Krizi, edited by Prof. Dr. Abdullah Ersoy (Ankara, Turkey: Imaj Publishing, 2011), 330pp; and in Monthly Review, Turkish edition, 26 (Istanbul: Kalkedon Publications, March 2011).
    • Bangla translation in Bangla Monthly Review, vol. 2. no. 2 (March 2010). Translation by Farooque Chowdhury.

     

  • The Penal State in an Age of Crisis

    The Penal State in an Age of Crisis

    “The Penal State in an Age of Crisis“, (coauthored with Hannah Holleman, Robert W. McChesney, and R. Jamil Jonna, Foster listed third), Monthly Review vol. 61, no. 2 (June 2009), pp. 1-17. DOI: 10.14452/MR-061-02-2009-06_1

    As a rule, crime and social protest rise in periods of economic crisis in capitalist society. During times of economic and social instability, the well-to-do become increasingly fearful of the general population, more disposed to adopt harsh measures to safeguard their positions at the apex of the social pyramid. The slowdown in the economic growth rate of U.S. capitalism beginning in the late 1960s and early 1970s—converging with the emergence of radical social protest around the same period—was accompanied by a rapid rise in public safety spending as a share of civilian government expenditures. So significant was this shift that we can speak of a crowding out of welfare state spending (health, education, social services) by penal state spending (law enforcement, courts, and prisons) in the United States during the last third of a century.

    Reprints:
    Translations:
    • Spanish translation in El Aromo, no. 50/Razón y Revolucion (Argentina, 2009), http://www.razonyrevolucion.org.
    • Bangla translation in Bangla Monthly Review, vol. 2, no. 1 (December 2009). Translated by Farooque Chowdhury.
    • Turkish translation in Monthly Review, Turkish edition no. 22 (Istanbul: Kalkedon), pp. 29-48.

     

  • Capitalism in Wonderland

    Capitalism in Wonderland

    “Capitalism in Wonderland” [PDF], (coauthored with Richard York and Brett Clark, Foster listed third), Monthly Review vol. 61, no. 1 (May 2009), pp. 1-18. DOI: 10.14452/MR-061-01-2009-05_1

    In a recent essay, “Economics Needs a Scientific Revolution,” in one of the leading scientific journals, Nature, physicist Jean-Philippe Bouchaud, a researcher for an investment management company, asked rhetorically, “What is the flagship achievement of economics?” Bouchaud’s answer: “Only its recurrent inability to predict and avert crises.” Although his discussion is focused on the current worldwide financial crisis, his comment applies equally well to mainstream economic approaches to the environment—where, for example, ancient forests are seen as non-performing assets to be liquidated, and clean air and water are luxury goods for the affluent to purchase at their discretion. The field of economics in the United States has long been dominated by thinkers who unquestioningly accept the capitalist status quo and, accordingly, value the natural world only in terms of how much short-term profit can be generated by its exploitation. As a result, the inability of received economics to cope with or even perceive the global ecological crisis is alarming in its scope and implications.

    Translations:
    • Spanish translation in Herramienta 3 (Argentina, November 2010), http://www.herramienta.com.ar.
    • Chinese translation by Xia Yong, Marxism and Reality (China), no. 5, 2009.
    • Russian translation in Vpered, July 6, 2009, vpered.org.ru.
    • Turkish translation in Monthly Review, Turkish edition, no. 21 (Istanbul: Kalkedon, 2009), pp. 7-25.

     

  • 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).

     

  • A New New Deal under Obama?

    A New New Deal under Obama?

    “A New New Deal under Obama?“, (coauthored with Robert W. McChesney, Foster listed first), Monthly Review, vol. 60, no. 9 (February 2009), pp. 1-11. DOI: 10.14452/MR-060-09-2009-02_1

    With U.S. capitalism mired in an economic crisis of a severity that increasingly brings to mind the Great Depression of the 1930s, it should come as no surprise that there are widespread calls for “a new New Deal.” Already the new Obama administration has been pointing to a vast economic stimulus program of up to $850 billion over two years aimed at lifting the nation out of the deep economic slump.

    Reprints:
    Translations:
    • French translation in Etudes Marxistes, no. 86, December 1, 2009.
    • Spanish translation in Monthly Review, Selecciones en Castellano, no. 10, 131-40.
    • Galician translation published by Avantar, February 25, 2009.
    • Portuguese translation by Zion Edições in Association Resistir.Info , February 1, 2009, http://reistir.info.
    • Korean translation by Social Policy Committee, People’s Solidarity for Social Progress, http://www.pssp.org/main/index.php
    • Bangla translation in Bangla Monthly Review, vol. 1, no. 3, June 2009. Translated by Pachu Ray.
    • Turkish translation in Monthly Review, Turkish edition, no. 21 (Istanbul: Kalkedon, 2009), pp. 63-74.

     

  • 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.

     

  • Marx’s Critique of Heaven and Earth

    Marx’s Critique of Heaven and Earth

    “Marx’s Critique of Heaven and Earth“, Monthly Review vol. 60, no. 5 (October 2008), pp. 22-42. DOI: 10.14452/MR-060-05-2008-09_3

    In recent years the intelligent design movement, or creationism in a more subtle guise, has expanded the attack on the teaching of evolution in U.S. public schools, while promoting an ambitious “Wedge strategy” aimed at transforming both science and culture throughout society. As explained in our book Critique of Intelligent Design: Materialism versus Creationism from Antiquity to the Present (Monthly Review Press, 2008), this has reignited a 2,500-year debate between materialism and creationism, science and design. The argument from design (the attempt to discern evidence of design in nature, thereby the existence of a Designer) can be dated back to Socrates in the fifth century BCE. While the opposing materialist view (that the world is explained in terms of itself, by reference to material conditions, natural laws, and contingent, emergent phenomena, and not by the invocation of the supernatural) to which Socrates was responding also dates back to the fifth century BCE in the writings of the atomists Leucippus and Democritus. The latter perspective was developed philosophically into a full-fledged critique of design by Epicurus in the third century BCE, which later influenced the scientific revolution of the seventeenth century.

    Translations:
    • Turkish translation in Monthly Review, Turkish edition, no. 22 (Istanbul: Kalkedon), pp. 109-32.

     

  • Peak Oil and Energy Imperialism

    Peak Oil and Energy Imperialism

    “Peak Oil and Energy Imperialism“, Monthly Review vol.60, no. 3 (July 2008), pp. 12-33. DOI: 10.14452/MR-060-03-2008-07_2

    The rise in overt militarism and imperialism at the outset of the twenty-first century can plausibly be attributed largely to attempts by the dominant interests of the world economy to gain control over diminishing world oil supplies. Beginning in 1998 a series of strategic energy initiatives were launched in national security circles in the United States in response to: (1) the crossing of the 50 percent threshold in U.S. importation of foreign oil; (2) the disappearance of spare world oil production capacity; (3) concentration of an increasing percentage of all remaining conventional oil resources in the Persian Gulf; and (4) looming fears of peak oil.

    Translations:
    • Chinese translation by Mao Jiaqiang and Xing Yingli, Foreign Theoretical Trends (China), no. 12, 2008.
    • Norwegian translation in Ødeleggelsens Økonomi (Tidsskrifter Rødt!, 2008), 75-99.
    • Portuguese translation in Monthly Review, Portuguese-Language Edition (Brazil), July 2009.
    • Bangla translation in Bangla Monthly Review, vol. 1, no. 1 (December 2008).
    • Translated by Farooque Chowdhury; Turkish translation in Monthly Review, Turkish edition, no. 19 (Istanbul: Kalkedon, 2008).

     

  • Rachel Carson’s Ecological Critique

    Rachel Carson’s Ecological Critique

    “Rachel Carson’s Ecological Critique“, (coauthored with Brett Clark, Foster listed first), Monthly Review vol. 59, no. 9 (February 2008), pp. 1-17. DOI: 10.14452/MR-059-09-2008-02_1

    Rachel Carson was born just over 100 years ago in 1907. Her most famous book Silent Spring, published in 1962, is often seen as marking the birth of the modern environmental movement. Although an immense amount has been written about Carson and her work, the fact that she was objectively a “woman of the left” has often been downplayed. Today the rapidly accelerating planetary ecological crisis, which she more than anyone else alerted us to, calls for an exploration of the full critical nature of her thought and its relation to the larger revolt within science with which she was associated.

    Translations:
    • Bangla translation in Bangla Monthly Review, no. 3 (July 2008).
    • Translated by Protiva Mondol; Turkish translation in Monthly Review, Turkish edition, no. 19 (Istanbul: Kalkedon, 2008), pp. 165-82

     

  • The Latin American Revolt

    The Latin American Revolt

    “The Latin American Revolt: An Introduction“, Monthly Review vol. 59, no. 3 (July 2007), pp. 1-8. DOI: 10.14452/MR-059-03-2007-07_1

    The revolt against U.S. hegemony in Latin America in the opening years of the twenty-first century constitutes nothing less than a new historical moment. Latin America, to quote Noam Chomsky, is “reasserting its independence” in an attempt to free itself from centuries of imperialist domination. The gravity of this threat to U.S. power is increasingly drawing the attention of Washington. Julia Sweig, Latin American program director at the Council on Foreign Relations, argues that the twenty-first century is likely to be known as the “Anti-American Century,” marking a growing intolerance of the “waning” U.S. empire. Outweighing even the resistance to the U.S. war machine in Iraq in this respect, Sweig suggests, is the political realignment to the left in Latin America, which, in destabilizing U.S. rule in the Americas, offers a “prophetic microcosm” of what can be expected worldwide.

    Translations:
    • Spanish translation in America Latina en Movimiento, Barcelona.
    • Translated in Monthly Review, Turkish edition, no. 16 (Istanbul: Kalkedon, 2007).
    • Bangla translation in Bangla Monthly Review, no. 4 (September-November 2007. Translated by Protiva Mondol.