The concept of the imperialist world system in today predominant sense of the extreme economic exploitation of periphery by center, creating a widening gap between rich and poor countries, was largely absent from the classical Marxist critique of capitalism. Rather this view had its genesis in the 1950s, especially with the publication fifty years ago […]
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The Financialization of Capitalism
By John Bellamy Foster on April 1, 2007 in Articles, Other Major Scholarly Journal Articles, Translated
Changes in capitalism over the last three decades have been commonly characterized using a trio of terms: neoliberalism, globalization, and financialization. Although a lot has been written on the first two of these, much less attention has been given to the third. Yet, financialization is now increasingly seen as the dominant force in this triad. […]
The Ecology of Destruction
By John Bellamy Foster on February 1, 2007 in Articles, Other Major Scholarly Journal Articles, Translated
I would like to begin my analysis of what I am calling here “the ecology of destruction” by referring to Gillo Pontecorvo’s 1969 film Burn!. Pontecorvo’s epic film can be seen as a political and ecological allegory intended for our time. It is set in the early nineteenth century on an imaginary Caribbean island called […]
Monopoly-Finance Capital
By John Bellamy Foster on December 1, 2006 in Articles, Other Major Scholarly Journal Articles, Translated
The year now ending marks the fortieth anniversary of Paul Baran and Paul Sweezy’s classic work, Monopoly Capital: An Essay on the American Economic and Social Order (Monthly Review Press, 1966). Compared to mainstream economic works of the early to mid-1960s (the most popular and influential of which were John Kenneth Galbraith’s New Industrial State […]
Aspects of Class in the United States
By John Bellamy Foster on August 1, 2006 in Articles, Other Major Scholarly Journal Articles, Translated
If class war is continual in capitalist society, there is no doubt that in recent decades in the United States it has taken a much more virulent form. In a speech delivered at New York University in 2004 Bill Moyers pointed out that the effects of this relentless offensive by the vested interests against the […]
Organizing Ecological Revolution
By John Bellamy Foster on October 1, 2005 in Articles, Other Major Scholarly Journal Articles, Translated
My subject—organizing ecological revolution—has as its initial premise that we are in the midst of a global environmental crisis of such enormity that the web of life of the entire planet is threatened and with it the future of civilization.
The Great Financial Crisis
By John Bellamy Foster on October 1, 2005 in Articles, Other Major Scholarly Journal Articles, Translated
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. Austerity is being forced on working people in many countries. Matters are especially difficult in Greece, a country that is […]
Naked Imperialism
By John Bellamy Foster on September 5, 2005 in Articles, Other Major Scholarly Journal Articles, Translated
The global actions of the United States since September 11, 2001, are often seen as constituting a “new militarism” and a “new imperialism.” Yet, neither militarism nor imperialism is new to the United States, which has been an expansionist power—continental, hemispheric, and global—since its inception. What has changed is the nakedness with which this is […]
The Renewing of Socialism
Articles in Monthly Review often end by invoking the socialist alternative to capitalism. Readers in recent years have frequently asked us what this means. Didn’t socialism die in the twentieth century? Wasn’t it defeated by capitalism? More practically: if socialism is still being advocated what kind of socialism is it? Are we being utopian in […]
The End of Rational Capitalism
By John Bellamy Foster on March 1, 2005 in Articles, Other Major Scholarly Journal Articles, Translated
The twentieth century’s dominant myth was that of a “rational capitalism.” The two economists who did the most to promote this idea were John Maynard Keynes and Joseph Schumpeter. Both were responding to the great historical crisis of capitalism manifested in the First World War, the Great Depression, and the Second World War. In the […]
