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Articles 1 - 11 of 11
Full-Text Articles in Political Economy
Explaining The Proliferation Of U.S. Billionaires During The Neoliberal Period, Rob Piper
Explaining The Proliferation Of U.S. Billionaires During The Neoliberal Period, Rob Piper
Class, Race and Corporate Power
This article explains the proliferation of U.S. billionaire wealth during the neoliberal period (1980 to the present). Using the work of scholars, investigative journalists, and government researchers, it examines descriptive evidence from the past forty years of the economic, social, and political trends associated with the capital accumulation that led to so much wealth being concentrated with so few individuals. It further creates a theoretical framework of institutional factors (or “drivers”) that help to understand how these trends link together to provide a comprehensive explanation for the increase of billionaires in comparison with other economic gauges like GDP, income distribution, …
The Institutional Drivers Contributing To Billionaire Wealth At The Sector Level, Rob Piper
The Institutional Drivers Contributing To Billionaire Wealth At The Sector Level, Rob Piper
Class, Race and Corporate Power
Over the last 50 years (the period of neoliberalism) the national wealth of the United States reached unprecedented levels. Despite this dramatic increase in national wealth, an increasing amount of American wealth has found its way into the hands of a smaller percentage of the population. Indicative of this inequality, the number of individuals that have achieved a net worth of $1 billion (billionaires) has increased at a higher rate than any other time in American history. Descriptive evidence and analysis of macroeconomics from scholarly literature and journalism attributes this dramatic increase in billionaire wealth to certain comprehensive and interrelated …
The Iranian Crisis Of The 1970s-1980s And The Formation Of The Transnational Investment Bloc, Mazaher Koruzhde
The Iranian Crisis Of The 1970s-1980s And The Formation Of The Transnational Investment Bloc, Mazaher Koruzhde
Class, Race and Corporate Power
The events surrounding the Iranian Revolution in the 1970s and 198s significantly contributed to the formation and consolidation of a U.S-Saudi transnational investment bloc.
Realizing A Green New Deal: Lessons From World War Ii, Martin Hart-Landsberg
Realizing A Green New Deal: Lessons From World War Ii, Martin Hart-Landsberg
Class, Race and Corporate Power
Many activists in the United States are working to build a movement for a Green New Deal transformation of the economy in order to tackle both global warming and the country’s worsening economic and social problems. To this point, Green New Deal advocates have been far more interested in discussing the programs to be included than in how to achieve the desired transformation. Helpfully, we have the experience of World War II to provide some guideposts. This paper begins by highlighting the enormity and speed of the US economy’s wartime transformation from civilian to military production. Then, it describes the …
Poverty In The High-Income Countries: A Marxist Alternative To Mainstream Ideologies, Jamie A. Gough, Aram Eisenschitz
Poverty In The High-Income Countries: A Marxist Alternative To Mainstream Ideologies, Jamie A. Gough, Aram Eisenschitz
Class, Race and Corporate Power
Poverty has been present in all the advanced capitalist countries since the dawn of industrial capitalism in the late 18C, and remains so to this day. Mainstream explanations of this phenomenon are superficial and mistake symptoms for causes. In this article we present a Marxist explanation of poverty in the high-income countries since the late 19C. We show how poverty is systematically produced by the dynamics of capital accumulation and the capital-labour relation, including their spatial dynamics, operating in the realms of production, social reproduction, and their mediations by the state. Since poverty is produced by the totality of society, …
Mexico's Fate Amid U.S. – China Competition, Kathleen C. Schwartzman
Mexico's Fate Amid U.S. – China Competition, Kathleen C. Schwartzman
Class, Race and Corporate Power
What is Mexico’s future in the face of global hierarchical shifts. Mexico has existed in a dependent relationship with the United States since the beginning of the 20th century. Mexico’s dependency evolved in tandem with the U.S.’ rise to power. That U.S. dominance is being challenged in the 21st century, thus offering Mexico a chance for a different development path. Drawing on elements from world-systems, dependency, and political economy theories, I consider three possible trajectories: Mexico will develop more autonomously; it will become dependent on China; or it will experience stagnation. Using international and governmental data sets, reports from U.S. …
What The New Deal Can Teach Us About Winning A Green New Deal, Martin Hart-Landsberg
What The New Deal Can Teach Us About Winning A Green New Deal, Martin Hart-Landsberg
Class, Race and Corporate Power
Growing awareness of our ever-worsening climate crisis has boosted the popularity of movements calling for a Green New Deal. At present, the Green New Deal is a big tent idea, grounded to some extent by its identification with the original New Deal and emphasis on the need for strong state action to initiate system change on a massive scale. Given contemporary conditions, it is not surprising that people are looking back to the New Deal period for inspiration. However, inspiration is not the same as seeking and drawing useful organizing and strategic lessons from a study of the dynamics of …
It's Capitalism, Stupid!: The Theoretical And Political Limitations Of The Concept Of Neoliberalism, Bryant William Sculos
It's Capitalism, Stupid!: The Theoretical And Political Limitations Of The Concept Of Neoliberalism, Bryant William Sculos
Class, Race and Corporate Power
This polemical essay explores the meaning and function of the concept of neoliberalism, focusing on the serious theoretical and political limitations of the concept. The crux of the argument is that, for those interested in overcoming the exploitative and oppressively destructive elements of global capitalism, opposing "neoliberalism" (even if best understood as a process or a spectrum of "neoliberalization" or simply privatization) is both insufficient and potentially self-undermining. This article also goes into some detail on the issues of health care and climate change in relation to "neoliberalism" (both conceptually and the material processes and policies that this term refers …
Corporations, Associations And The State: The International Subsidy System For Film, Michael S. Wartenbe
Corporations, Associations And The State: The International Subsidy System For Film, Michael S. Wartenbe
Class, Race and Corporate Power
Rather than increasing competition in the market and decreasing government spending, neoliberalism has driven states to compete by appealing to transnational corporations. Direct subsidization to attract investment has become one of the most egregious normalization of this process, and Hollywood and the film industry have become some of the most active participants to this system. Indeed to have a functioning film industry, government subsidies are essential, commonly paying out up to a third of the production costs. Per employee these are some of the highest subsidy rates of any industry, and with most of the world participating, they offer little …
The Pitfalls And Possibilities Of Socialist Transformation: The Case Of Greece, Martin Hart-Landsberg
The Pitfalls And Possibilities Of Socialist Transformation: The Case Of Greece, Martin Hart-Landsberg
Class, Race and Corporate Power
With its 2015 electoral victory in Greece, Syriza became the first left political party to lead a European government since the founding of the European Union. As such, its eventual capitulation to the demands of the Troika was a bitter development, and not only for the people of Greece. Because the need for change remains as great as ever, and efforts at electoral-based transformations continue, especially in Europe, this paper seeks to assess the Greek experience, and in particular Syriza’s political options and choices, in order to help activists more effectively respond to the challenges faced when confronting capitalist power. …
The Argentine Dilemma: “Vulture Funds” And The Risks Posed To Developing Economies, Mine Doyran
The Argentine Dilemma: “Vulture Funds” And The Risks Posed To Developing Economies, Mine Doyran
Class, Race and Corporate Power
Post-crisis Argentina is a case study of crisis management through debt restructuring. This article examines how Argentina negotiated the external debt in the wake of the sovereign default in December 2001 and now confronts challenges posed by holdout creditors—the so called “vulture funds”. It argues that debt restructuring has put a straitjacket on the national economy, making it virtually impossible for healthy growth short of a break with the international economic order. While Argentina has successfully restructured a $95 billion debt with an unprecedented “hair cut” (around 70% reduction in “net value of debt”), a sustainable growth appears out of …