Editor's note: This two-part series, which was initially published as a pamphlet in 2012 titled "The Myth of Democracy and the Rule of the Banks," lays out, in accessible language, the causes and consequences of the 2007-2008 economic crash. What is known as the...
Editor's note: This is the second of a two-part series that was initially published as the pamphlet, "The Myth of Democracy and the Rule of the Banks," by PSL in 2012. Read the first part, which includes an updated preface, here. Crimes of the bankers--a few examples...
In the last few decades, technological developments--particularly concerning automation--have transformed the economy in such a profound way that many are comparing this era to the Industrial Revolution. Some capitalist economists downplay the resulting loss of jobs,...
Introduction Despite its association with sovereign nations involved in wartime alliances, the term “ally” has become influential in activist circles on the US left. Attention to debates over what it means to be an ally reveal the limits of the politics of allyship....
On March 12, 2019, the public learned that several prominent U.S. universities had admitted at least 50 students based solely on bribes made by their parents. A seven-year investigation by the FBI nicknamed “Operation Varsity Blues” concluded that well-respected...
Revolution today names more a problem than it does a solution. We know that revolutions happen, but we have a hard time believing in revolution. We have a hard time believing in revolution because we are no longer confident that the revolutionary process leads in an...
Author’s note: The following article was mostly written before Donald Trump became president-elect. His electoral victory if anything strengthens the thesis presented that imperialist governments, led by the U.S., will soon shift from a focus on monetary policy toward...
My earlier article, “Signs of a renewed general crisis of capitalism,” focused on the important role the money commodity gold continues to play in the world capitalist economy—and indirectly in shaping world politics. Understanding that role is therefore crucial to a...
Introduction by author The following article presents a viewpoint on crises and long-term trends of the capitalist economy that differs in important respects from the views of most Marxist economists today. This viewpoint has been developed over some 50 years of...