topmenu

Tag Archives | Spanish

Capitalism in Wonderland

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 […]

Continue Reading

A Failed System

In referring in my title here to “A Failed System” I do not of course mean that capitalism as a system is in any sense at an end. Rather I mean by “failed system” a global economic and social order that increasingly exhibits a fatal contradiction between reality and reason—to the point, in our time, […]

Continue Reading

The Great Financial Crisis

The bursting of the housing bubble and the ensuing financial debacle have left most people, including many economists and financial experts asking: Why did this happen? If they had been reading Monthly Review, and were familiar with such articles as “The Household Debt Bubble,” “The Explosion of Debt and Speculation,” and “The Financialization of Capitalism,” […]

Continue Reading

Postscript to “The Financialization of Capital and the Crisis” (Monthly Review, April 2008)

Six months ago the United States was already deep in a financial crisis — the roots of which were explained in this article. Yet, the conditions now are several orders of magnitude worse and are affecting the entire world. We are clearly in the midst of one of the great crises in the history of […]

Continue Reading

Ecology

It is impossible to exaggerate the environmental problem facing humanity in the twenty-first century. Nearly fifteen years ago one of us observed: “We have only four decades left in which to gain control over our major environmental problems if we are to avoid irreversible ecological decline.” Today, with a quarter-century still remaining in this projected […]

Continue Reading