Today’s conservative movement for the reform of public education in the United States, and in much of the world, is based on the prevailing view that public education is in a state of emergency and in need of restructuring due to its own internal failures. In contrast, I shall argue that the decay of public […]
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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 […]
What Every Environmentalist Needs to Know About Capitalism
What Every Environmentalist Needs To Know about Capitalism tackles the two largest issues of our time, the ecological crisis and the faltering capitalist economy, in a way that is thorough, accessible, and sure to provoke debate in the environmental movement.
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 […]
The Great Financial Crisis—Three Years On
By John Bellamy Foster on October 1, 2010 in Comments-Short Articles-Introductions to Archival Reprints
The Great Financial Crisis began in the summer of 2007 and three years later, despite a putative “recovery,” it is still having profound effects in the United States, Europe, and in much of the world.
The Financial Power Elite
By John Bellamy Foster on May 1, 2010 in Articles, Other Major Scholarly Journal Articles, Translated
Has the power of financial interests in U.S. society increased? Has Wall Street’s growing clout affected the U.S. state itself? How is this connected to the present crisis? We will argue that the financialization of U.S. capitalism over the last four decades has been accompanied by a dramatic and probably long-lasting shift in the location […]
The Paradox of Wealth
By John Bellamy Foster on November 1, 2009 in Articles, Other Major Scholarly Journal Articles, Translated
Today orthodox economics is reputedly being harnessed to an entirely new end: saving the planet from the ecological destruction wrought by capitalist expansion. It promises to accomplish this through the further expansion of capitalism itself, cleared of its excesses and excrescences. A growing army of self-styled “sustainable developers” argues that there is no contradiction between […]
Monopoly-Finance Capital and the Paradox of Accumulation
By John Bellamy Foster on October 1, 2009 in Articles, Other Major Scholarly Journal Articles, Translated
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 […]
The Penal State in an Age of Crisis
By John Bellamy Foster on June 1, 2009 in Articles, Other Major Scholarly Journal Articles, Translated
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 […]
Capitalism in Wonderland
By John Bellamy Foster on May 1, 2009 in Articles, Other Major Scholarly Journal Articles, Translated
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 […]
