Crisis Of Capitalism Research Articles

A Critical Analysis of Capitalism, Capital Accumulation and Crisis Theory in David Harvey

This article is a critical review of David Harvey’s essentialist theorisation of a capitalist economy and its crisis from a class focused Marxist perspective. The first part examines Harvey’s immense contribution to the understanding of space and spatiality of capitalism within the Marxist tradition. Capital accumulation in his theorisation serves as the impresario of space and spatiality and the harbinger of capitalist crisis in general. Expanding on a class focused approach, the second part provides a critique of Harvey’s methodology and crisis theory in which the law of capital accumulation reigns supreme. Specifically, using an anti-essentialist methodology of overdetermination with class process of surplus labour as the theoretical entry point, as developed by Resnick and Wolff, I argue that no correspondence of the rate of capital accumulation with those of rate of profit and rate of class distribution can be drawn. This unpredictability renders capitalism inherently unstable, prone to business cycles whose cause cannot be reduced to any chosen causal factor such as the one reducible to capital accumulation. JEL Codes: P12, P16

Pandemia y revolución en Argentina

Es necesario discutir la cuestión subjetiva dentro del proceso de organización de la lucha de clases para la revolución. La actual crisis capitalista, profundizada por el neoliberalismo, se acelera en el contexto de la pandemia. Según la CEPAL, la economía mundial vivirá su mayor crisis este año desde la Segunda Guerra Mundial. El presente trabajo reflexiona sobre la crisis en América Latina con una mirada en el caso de Argentina.

Coronavirus, Capitalism in Crisis and the Perversity of Public Health in Bolsonaro's Brazil.

This article aims to discuss the meaning of the coronavirus crisis as an integral part of the totality of the capitalist crisis and its implication in the health area of Brazilian capitalism, in which the rise of ultraliberal and neofascist policies is witnessed by the Bolsonaro government. To this end, we opted for a historical-dialectical materialist analysis of the situation experienced between the global beginning of the pandemic until the month of May 2020 in Brazil. The article is structured in 2 parts: The first discusses the problem of agrifood systems in the context of capitalism in crisis and its effects on the spread of diseases such as the coronavirus, and the second discusses the neglect of the Bolsonaro government in facing the COVID-19 pandemic and the Brazilian universal health system. Evidence shows that the Bolsonaro government has led to more deaths and more of the barbarism of capitalism. The scenario after the pandemic will be one of a country with a more or less intense capitalist crisis depending on the resistance of workers in the defense of public health and lives.

Reading with the Runaways, or namesakes in diaspora on Sunjeev Sahota’s the year of the Runaways: A novel

ABSTRACT Through a series of fragments, vignettes, and a montage, this essay explores the underlying crises of contemporary capitalism and the nation-state as presented in Sunjeev Sahota's 2015 novel The Year of the Runaways. The essay examines the novel's innovative Anglo-Punjabi diglossia as an index of social contradiction and political crisis in the wake of immigration and nationalist reaction in the U.K. It lays out as well the competing pressures that serve to catalyze the production of new diasporic subjectivities and the adoption of non-traditional social practices among Sahota's characters. Along the way, the essay delves into the significance of naming and its relationship to identity via the discourse of the name (nam) in Sikh scripture. The final fragments elaborate upon the opening of new possibilities of selfhood for Sahota's central characters. This opening is premised on, and yet reach beyond, abstract labor-power under capitalist regimes of accumulation and Indian caste and gender norms.

The Birth of the Soviet School of European Integration Studies. Part 2

The first part of the article shows that in the mid-1960s some Soviet researchers of the European integration problems concluded that integration did not correspond to the Leninist-Stalinist theory of the general crisis of capitalism. On the contrary, it corresponded to some Western concepts of the custom union, the common market, and economic integration. A new approach to the European integration studies was offered by the Institute of World Economy and International Relation (IMEMO), established in 1956. For many decades IMEMO was serving as the focal point for the European integration studies, and was providing the Soviet leadership with analytical information. The number of inquiries from authorities increased significantly. Firstly, it can be explained by the achievements of integration. Secondly, it was due to the growth of economic cooperation between the USSR and the EEC. Thirdly, Moscow defined new foreign policy priorities towards Western countries including Europe. There were two turning-points of bilateral relations: with France – in 1966, and with Germany – in 1969. The Organization for security and cooperation in Europe (OSCE) was established during final session of the top-level Conference of European States in Helsinki in August 1975. Fourthly, experience of the EEC was relevant for the COMECON

ALMANYA'DA POPÜLİST ALTERNATİF: DIE LINKE ÖRNEĞİ

2007 – 2008 finansallaşmış kapitalist krizin patlak vermesinin ardından Avrupa’da ulusal hükümetlerin kemer sıkmaya yönelmesi, ağır sosyal sonuçlara yol açmıştır. Bu durum, birçok ülkede siyasi memnuniyetsizliği tetikleyerek güçlü radikal partilerin ortaya çıkmasına zemin hazırlamıştır. Ne var ki kemer sıkma çağında radikal aktörlerin eş zamanlı yükselişine rağmen siyasal partiler çalışmalarında radikal sol partilerin atılımı büyük oranda göz ardı edilmektedir. Bu boşluğun doldurulması için makalede, Almanya’da Die Linke örneklemi üzerinden radikal solun evrimi, yapısal politik ekonomik ve politik kurumsal koşullar, toplumsal protesto dinamikleri ve toplumsal hareketlilik açısından analiz edilmektedir. Die Linke’nin yükselişinde ülkede sosyal adalet talebinin temel temsilcisi haline gelerek parti sisteminde SPD’nin geleneksel olarak işgal ettiği yere kaymasının kritik bir rol oynadığı savunulmaktadır. Bununla birlikte 2013 sonrasında radikal sağ AfD’nin kamusal söylemi ve parti rekabetini belirleyen konuları tayin etmesiyle birlikte radikal solun atılım dönemi sona ermiştir

Rumble and Crash: Crises of Capitalism in Contemporary Film.

Rumble and Crash: Crises of Capitalism in Contemporary Film.

Filantrocapitalismo digital en educación: Covid-19, UNESCO, Google, Facebook y Microsoft

El propósito de este artículo es analizar nuevas formas de filantrocapitalismo digital en la política educativa a raíz de la pandemia Covid-19. El filantrocapitalismo digital es una hibridación conceptual que unifica principios del capitalismo digital con nuevas formas de gobernanza filantrocapitalista. Este artículo, después de la sección de introducción, está organizado en 6 secciones. La primera sección se centra en ampliar los análisis relacionados con las nociones de capitalismo digital y filantrocapitalismo para presentar la noción de filantrocapitalismo digital en educación que se consolida como nuevas formas de gobernanza global en la crisis capitalista presente del Covid-19. La segunda sección aborda la metodología de investigación utilizada para examinar los nuevos ensamblajes globales del filantrocapitalismo digital en la política educativa global. El proceso metodológico se basa en la etnografía en red adaptada al análisis de las redes políticas en la política educativa. La tercera sección, como un estudio de caso de ensamblajes globales, analiza la red política de la Coalición Global para la Educación de la UNESCO. La coalición mundial para la educación lanzada por la UNESCO es una alianza de gobernanza global (socios multilaterales, sector privado, fundaciones filantrópicas, redes y asociaciones) para proporcionar una educación disruptiva causada por la pandemia Covid-19. La quinta sección tiene en cuenta los discursos y narrativas sobre el filantrocapitalismo digital de Google, Facebook y Microsoft en la red política global de la UNESCO. La última sección examina la lógica discursiva sobre Big Data en el filantrocapitalismo digital en educación.

Unthinking philosophy: Aimé Césaire, poetry, and the politics of Western knowledge

ABSTRACT Energised by his concern with the place of poetry in and as philosophy, Césaire’s work is engaged in thinking knowledge, a praxis which becomes fundamental to his critique of the ideology of imperialism. The concern with poetry as magical thinking and the question of what it contributes to philosophy, and more particularly, to epistemology, takes on pressing importance in the light of colonialism, whose domination is predicated on the hegemonic disruption and erasure of indigenous knowledges. Through his radical re-evaluation of Western epistemology, Césaire shows that what is at stake in African/diasporic, and indeed planetary, futures, is a radical reframing of the category of philosophy and the possibility of an alternative relation to objects. The issue of coloniality’s imbrication in a Western ontology of objects takes on amplified importance in the light of current capitalist crises, including ecological collapse.

Crise estrutural, conjuntura nacional, coronavirus e educação – o desmonte da educação nacional

Partindo da crise estrutural do capitalismo que caracteriza a época atual, é analisada a conjuntura brasileira sob o influxo da pandemia do coronavírus, examinando os impactos da crise estrutural e da pandemia sobre a educação pública do ponto de vista da tendência à manutenção da sociedade atual e na perspectiva de sua superação.

The crisis of capitalism in the 21st Century

As the world economy enters its third decade of the 21st century, the Long Depression in investment, output, and income growth seems set to continue as the profitability of capital remains near historic lows. There are some key challenges over the next 20 years: climate change and global warming, and huge inequalities which create enormous social tensions. All these factors threaten the ability of the US to maintain its hegemonic position. The rivalries between the big capitalist powers will increase, particularly between the US and China. A new globalizing wave is likely to take place, since there are still enormous human masses which can be expropriated and socially made available for the sale of labor force; and new technological innovations will always arise, providing new cycles for the expansion of value and surplus value. So, capitalism could get a further kick forward. However, imperialism is faced with two major weaknesses. The first is the tendency for the profit rate to fall, which imposes an increase in rivalry on the world market and even dangerous wars. The second is the global proletariat, which continues to grow throughout the world. Crises will reoccur at regular intervals with the accumulation of capital, and the longer capital accumulates, the more difficult it will be for it to deliver the needs and desires of humanity.Keywords: Crises. Imperialism. Globalisation. Profitability.

Book Review: Paul Adler The 99 Percent Economy: How Democratic Socialism Can Overcome the Crises of Capitalism

Book Review: Paul Adler <i>The 99 Percent Economy: How Democratic Socialism Can Overcome the Crises of Capitalism</i>

Can China lead the change of the world?

Currently, the world system is in a state of complex crisis and transformation. The overall influence of its US-led centre has weakened, and most of the global periphery is in either chaos or misery. The mechanisms of the global accumulation of capital prevent new global leaders from emerging. Until now, China’s economic ascent has been based on managed market forces and sovereign monetary policy. However, if the liberalisation of capital flows in China continues, the country’s financial independence might be lost. This article explains how the nodal crisis of global capitalism has evolved, how far the marketisation and financial liberalisation of the Chinese economy has gone and the largest obstacles to China further strengthening its influence on the world order. The author concludes that China could play a positive role as a new superpower in constructing a world beyond capitalism, if it does not give up the socialist project, keeps market forces under control, maintains accumulation without dispossession, preserves its financial independence and makes alliances with other nations on the global (semi-)periphery. The latter is particularly important, as the present hegemonic centre will not give up its position peacefully.

Dynamic Economic Transition of Bangladesh in the Philosophy of Karl Marx: A Searching Analysis

This article holistically attempts to evaluate the economic environment of Bangladesh in a dynamic way and endeavor to forecast the risks and challenges and way out from its socio-economic anomalies in near future. For analysis and investigation, primarily the secondary data sources are used for reaching the critical juncture. It is historically evident that Bangladesh has been faced with diverse economic and political doctrines since its inception. The volatility and uncertainty of its socio-economic philosophy made Bangladesh suffer a lot. It is observed that the socialistic economic system with the democratic rule was preceded by a mixed economic system with autocracy and ultimately capitalistic economic system with so called democratic rule in Bangladesh. The present capitalistic nature of Bangladesh's economy has both positive and negative flanks. Globalization, international trade, economic growth and creation of wealth can be marked as the commendable part. On the contrary, economic inefficiency, inequality, the emergence of the proletariat and capitalistic class, presence of exploitation, mismanagement and incompatibility of various policies, incredible and non-transparent financial sector are the challenging part. The most frightening fact is that vulnerability and fragility, absorbing and tackling incapability of both internal and external economic shocks by Bangladesh economy signal the weakest side of capitalism of the country. Here, the entire analysis based on the perspective of Bangladesh can be regarded as its limitation. Last but not the least, it concluded that only a proper and timely thoughtful action with an impeccably structured economy may find the escape of such dangers. To end, this paper concludes with possible policy recommendations. Keywords: Economic Systems, Karl Marx, Bangladesh and its Economic Transition, Class Conflict and Final Crisis of Capitalism in Bangladesh. DOI: 10.7176/RHSS/10-16-07 Publication date: August 31 st 2020

Dignity, Inequality, and the Populist Backlash: Lessons from America and Europe for a Sustainable Globalization

AbstractThe greatest challenge to the sustainability of our current era of globalization comes from within the United States. Most Americans have come to reject globalization. We must discern the lessons from the parts of the developed world where the backlash is also profound – France, for example – and where it has been more muted – such as Germany. In both the United States and France, gross Gini coefficients have increased sharply during the past thirty or so years. The French state has, however, delivered a net, after‐tax, after‐transfer distribution of income that is more equal than it was thirty years ago. And yet: France is still in the midst of an anti‐systemic populist revolt. There is only one inescapable conclusion: it is not just about the money. Those who feel left behind in both countries feel that they have lost respect and dignity. We cannot redistribute our way out of the crisis of global capitalism. The German experience holds lessons. We must value and valorize the many ways in which people contribute. We must also pursue policies that create patterns of employment that confer dignity, meaning, and purpose. I argue for dignity as a tool of policy, beyond its normative desirability as a goal.

Productivity, public capital, and socialism with Chinese characteristics – A critique of the doctrine of incompatibility between capital and public ownership

PurposeThis paper is a response to the doctrine that capital is incompatible with public ownership. The fundamental characteristics of modern productivity determine the co-existence of the market economy and capital relations.Design/methodology/approachSocialism can neither bypass the market economy nor “go beyond capital”; capital appears in two historical forms, including the private capital and the public capital. Public capital is the inevitable outcome of the inherent contradictions of public ownership in a socialist market economy.FindingsIt represents an economic relationship that compels individual labourers to provide surplus labour for the society. The combination of the strong accumulation function of public capital and the improvement of people's welfare is the main cause of China's development miracle.Originality/valueThe innovation impetus of the public capital and its “immunity” to the capitalist crisis highlight the tremendous power of socialism with Chinese characteristics in breaking free of the shackles of capitalism and continuously developing productive forces. Public capital demonstrates and will continue to demonstrate the historical legitimacy of socialism.

A contribuição da Missão Kemmerer na configuração dos estados latino-americanos

Ao término das independências, vários países latino-americanos, imersos em contendas internas e com uma correlação de forças frágeis, representantes dos segmentos dominantes solicitam (ou se veem obrigados) a solicitar, assessoria dos Estados Unidos para organizar a estrutura econômica central do Estado. Tal assessoria veio através da denominada Misión Kemmerer. A missão, chefiada pelo Dr. Edwin Walter Kemmerer, professor de Economia na Universidade de Princeton constitui-se em uma das mais exitosas missões de toda a América latina. Através de instrumentos técnicos, estabilizou a economia dos países, agradando a praticamente todos os segmentos sociais, auxiliou na inserção de líderes sindicalistas no governo e subordinou o país definitivamente aos Estados Unidos. O objetivo deste artigo é analisar essa missão no Chile a partir da década de 1920 em face à crise do capitalismo que acirrava as contradições socioeconômicas e aos desdobramentos conjunturais que adentram a década de 1930, a partir de documentos que situam o sistema fiscal, monetário, bancário e a dívida contraída com os Estados Unidos.&#x0D;

A PROSPECTIVE STUDY OF THE ABSOLUTE AND RELATIVE SURPLUS VALUE IN THE UNITED STATES BASED ON A MACROECONOMIC MODEL: CONSEQUENCES FOR RUSSIA

This article develops an optimization neoliberal scenario 1 and a socially-oriented scenario 2 of capitalist reproduction based on US statistics for 2020-40. Scenario 1 preserves the socio-economic structure that generated the systemic, structural, and cyclical crisis of capitalism; it assumes a regular repetition of overproduction and paroxysms. The transforming social relations in the direction of tightening the workers’ control over production and the primary distribution of national income take place in scenario 2. Comparison of these pioneer scenarios with the projections by the Congressional Budget Office in the USA for 2020-2030 reveals the underestimation by the latter of the depth and duration of the epoch-making corona-crisis, which owes its name to the Covid-19 pandemic. The necessity for Russia of revival of the ideology of socialism, understood as the first phase of communism, is substantiated.

Empirical Evaluation of Long Waves of Capitalist Development

The Great Recession was followed by tepid recovery which has stretched into more than a decade of constricted growth. Long wave theory, which aims to elucidate patterns of capitalist development for timeframes beyond the business cycle, is relevant for contextualizing the ongoing extended period of constricted growth. Empirical data for the UK and US, typically spanning the 1800s to the present, are evaluated to ascertain long waves of capitalist development are demonstrable. Several indicators are assessed, including manufacturing and industrial production, GDP, investment, capital formation, exports and imports, unemployment rates, and profitability. Results indicate long waves date from the crisis of free competition capitalism and are most pronounced for periods throughout 1914–1991. Widespread capitalist restoration distinguishes 1992–2007 as an intervening period of qualified capitalist growth, during which China’s economy grew dramatically, post-Soviet states struggled, US growth moderately revived, and EU and OECD growth continued to decline. Impacts of the coinciding information and communications technology revolution are also appraised, focusing on the US. Selected indicators are assessed for capitalist-restoration economies and established capitalist aggregate economies in recent long waves. Results do not support the ‘long cycle’ interpretation of long wave theory, which claims extended periods of economic growth occur cyclically owing to endogenous factors. Instead the interpretation promoted by Ernest Mandel is borne out, which asserts transitions from long waves of robust growth to constricted growth are chiefly the result of endogenous factors while upturns depend upon adequate exogenous socio-political system shocks and technological revolutions. Prospects for future technological revolutions and system shocks are briefly considered.

The political economy of the nation form

ABSTRACT This is an edited transcript of a lecture to the Vega Symposium on Resurgent Nationalisms and Populist Politics in the Neoliberal Age, held at the Swedish Academy of Sciences, Stockholm, in April 2018. It is part of a Special Issue of Geografiska Annaler, Series B which also includes an Introduction by Gillian Hart, and articles by Kanishka Goonewardena, Gillian Hart and Tova Höjdestrand based on their contributions to the Symposium. My engagement with the political economy of the nation form falls into two sections. The first addresses questions of comparison in debates over nations and nationalism, pointing to how the concept of relational comparison helped break the impasse that became evident in the 1990s and 2000s between problematic universalizing models and strong claims about incommensurability and incomparability. With reference to India, the second section develops the argument that there is no way of reckoning with the extraordinary transposability of the nation form without focusing on transformations within the political economy of capitalism. The transformation from empire to the nation form emerged from the extraordinary systemic crisis of capitalism in the conjuncture of the 1930s; and the crisis of 1970s was another key moment for understanding the political economy of the nation form in India. Reflecting on the current conjunctural crisis, I warn against efforts to set up a straight chain of equivalence between Modi, Trump, Putin, Orbán and others, as well as the political arithmetic of left populism.