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Tag Archives: socialism

Socialism For Realists

I recommend reading Sam Gindin’s paper “Socialism for Realists” to be found in the current issue of the relatively new socialist journal, Catalyst. Sam spent most of his working life as a union economist and assistant to the President of the CAW, and writes often with Leo Panitch, most notably as co-authors of The Making of Global Capitalism. I will not attempt a summary here, except to say that Sam tries to sketch a plausible framework for what a socialist economy might actually look like....

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Richard D. Wolff — The Narrowness of Mainstream Economics Is About to Unravel

Recent extreme volatility and sharp drops in US stock markets underscore the instability of capitalism yet again. As many commentators now note, another economic downturn looms. We know that all the reforms and regulations imposed in the wake of the Great Depression of the 1930s failed to prevent both smaller downturns between 1941 and 2008 and then another big crash in 2008. Capitalism’s instability has, for centuries, resisted all efforts to overcome it with or without government...

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Tony Norfield — Finance, Imperialism and Profits

Last Friday I took part in a panel to launch a new book, World in Crisis: A Global Analysis of Marx’s Law of Profitability, published by Haymarket Books, edited by Michael Roberts and Guglielmo Carchedi. The presentation was at this year’s Historical Materialism conference in London. My presentation was on ‘Finance, Imperialism and Profits’, in which I stressed the need to develop Marx’s theory in order to explain the world today. I argued that an accurate measure of a rate of profit (in...

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Robert Paul Wolff — SOCIALISM?

One of the Anonymati [Anonymouses? Anonymice?] asks that I write a critique of the oh so sober, serious analysis of socialism, complete with charts and graphs, produced by the President’s Council of Economic Advisors....I have read the Executive Summary of the report and scanned through the report itself, but I do not intend to take issue with it, and my reason for not doing so is the real subject of this post. Let me begin by reminding you that Karl Marx, who wrote 5000 pages, more or...

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Michael Roberts — Socialism and the White House

The Trump White House research team have issued a very strange report. It’s called “The Opportunity Costs of Socialism,”. It purports to prove that ‘socialism’ and ‘socialist’ policies would be damaging to Americans because the ‘opportunity costs’ of socialism compared to capitalism are so much higher. What is strange and rather amusing is that the White House advisers to Trump deem it necessary to explain to Americans the failures of ‘socialism’ in 2018. But when you delve into the...

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Michael Calderbank — Costas Lapavitsas: Socialism starts at home

Michael Calderbank speaks to Marxist economist Costas Lapavitsas ahead of the publication of his provocative new book The Left Case Against the EUCostas Lapavitsas  The book is obviously a critique of the EU as it stands. It’s an assessment of where the union is, what it has become, and its likely direction. It is an attempt to say that the left should have nothing to do with defending this set of institutions. It should assume a critical, rejectionist position. I am asserting that this is...

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James Rothenberg — Why Not Socialism?

In May of 1949, the first issue of Monthly Review came off the press, with a circulation of 450 copies. It featured an essay by none other than Albert Einstein titled, “Why Socialism?” Why so famous a scientist speaking to so few people, and then out of his field of expertise?…. Actually, it doesn't take an Einstein to answer the question, Why socialism? But Einstein did anyway, in case some didn't get it yet.Counterpunch Why Not Socialism? James Rothenberg

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Chris Dillow — Socialism in one country

The takeaway: The appropriate modes of economic organization vary from country to country. In saying this, I’m following Edmund Burke, who wrote: Circumstances (which with some gentlemen pass for nothing) give in reality to every political principle its distinguishing colour and discriminating effect. The circumstances are what render every civil and political scheme beneficial or noxious to mankind. The answer might lie in a distinction made by Burke as described (pdf) by Jesse [Norman]....

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Richard D. Wolff— ‘There’s an Alternative to the Hierarchical, Top-Down Capitalist CorporationJanine Jackson interviews Richard Wolff

But here’s a simple fact which ought to illustrate, in a sense, the question you’ve asked: This is an extremely undemocratic arrangement. What do I mean? Well, the number of people that make all the key decisions in American corporations, and by that I mean deciding what to produce, deciding how, deciding what technology to use, deciding the physical geographic location—will it be produced in Cincinnati or in Shanghai, etc.—and finally, what to do with the profits that the labor of all the...

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Dennis Churilov — Were German Nazis and Soviet Socialists the Same?

There are so many people out there who genuinely believe that financial plutocrats like Soros are communists, and that Wall Street-sponsored Hillary Clinton is a socialist. Many American self-proclaimed right-wingers seriously assert that the German Nazis were all socialists, simply because “Nazi” is short for ”Nationalsozialismus”, which translates as “National Socialism”. Therefore, they make a conclusion that the Soviet Union and Nazi Germany were ideologically the same. Sadly, this is...

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