EconoSpeak

In 1959, Harold Rosenberg wrote the essay "The Orgamerican Phantasy," published in The Tradition of the New. Rosenberg's essay criticized the "post-radical" self-absorption of several of the same authors -- William H. Whyte, C. Wright Mills, and Vance Packard -- that Herbert Marcuse would subsequently praise in the Introduction to One-Dimensional Man for the "vital importance" of their work. In Vance Packard and American Social Criticism, Daniel Horowitz discussed Rosenberg's attack on...

 The stock of Thomas Robert Malthus rises and falls with the real price of food. He was not the inventor of his theory of population, a point that Karl Marx threw at him among other criticisms, with such people as James Anderson and Benjamin Franklin preceding him with pretty much the entiretly of his theory. But his timing was much better, publishing the flawed first edition of his Essay on the Principle of Population in 1798, a year coming at the end of a decade of rising food prices...

 "Rhetoric" in quotes because it may not be just that.  I have not been posting much, partly because had a wedding for daughter, Sasha, last weekend, but also because I am seriously demoralized by the current situation, and every time I think I have something intelligent to say about the economics of it, that seems to keep changing, although I shall soon.Anyway, I have to get off my chest what I have heard from my wife, Marina, coming out of Russian language sources, not reported in English...

Georg Simmel called it "a faint sense of tension and vague longing" connected with the modern preponderance of means over ends. What Simmel calls estrangement  [We] feel as if the whole meaning of our existence were so remote that we are unable to locate it and are constantly in danger of moving away from rather than closer to it. Furthermore, it is as if the meaning of life clearly confronted us, as if we would be able to grasp it were it not for the fact that we lack some modest amount of...

In his farewell lecture at Brandeis University, "Obsolescence of Socialism," Herbert Marcuse quoted a passage from the Grundrisse and claimed that in Capital, Marx had "repressed this vision, which now appears as his most realistic, his most amazing insight!"As large-scale industry advances, the creation of real wealth depends increasingly less on the labor time and the quantity of labor expended in the productive process than on the power of the instruments set in motion during the labor...

The Russian invasion of Ukraine has triggered a spike in oil and gas prices worldwide.  A natural response is for countries with untapped reserves to expand production as quickly as possible, but doesn’t this contradict the pledges they have also made to combat climate change?  This issue is covered at some length in a New York Times article today, and the entire discussion—the arguments used by government officials and energy experts and the assumptions of the journalists who quote them—is...

 At New Year's I disagreed with forecasts made by David Ignatius that Putin would fully invade Ukraine and that the JCPOA nuclear deal with Iran would be revived. I have been proven wrong on the first matter already. As of a week or more ago it looked like I would be about the second as well as reports had a revived deal nearly made, which I would like to see.But now it looks like it may fall victim to the Ukraine invasion. In particular Russia is now demanding that any deal not involve any...

In Selling Mrs. Consumer, Christine Frederick shilled for progressive obsolescence, which had been advocated the previous year in an article by her husband, J. George Frederick. Or at least that is the way it seemed to her biographer, Janice Rutherford, who wrote, "she now took up and elaborated upon his theme, even using the same words..." Even using the same words?! It is possible that Mrs. Frederick copied passages from her husband's article. It is also possible that her husband, editor,...

Lewis Corey was a pseudonym for Louis Fraida, one of the founders of the U.S. Communist Party. In a letter to Marcuse dated August 16, 1960, Raya Dunayevskaya replied at length to his request for references to the American literature dealing with the issues of "the transformation of the laboring class under the impact of rationalization, automation and particularly, the higher standard of living." This was in connection with his research for One-Dimensional Man.In her reply, Dunayevskaya...

 From The Decline of American Capitalism by Lewis Corey (1934):Capitalist production saves on labor and multiplies the productive forces. But two contradictions arise which constantly torment capitalist enterprise. Saving on labor decreases relative wages and limits the conditions of consumption. This sets in motion the forces of excess capacity, sharpened competition, and mounting distribution costs. These costs absorb much, if not most, of the saving on labor, and eventually strengthen the...