John Bellamy Foster
How Monopoly-Finance Capital Produces Stagnation and Upheaval from the USA to China
The days of boom and bubble are over, and the time has come to understand the long-term economic reality. Although the Great Recession officially ended in June 2009, hopes for a new phase of rapid economic expansion were quickly dashed. Instead, growth has been slow, unemployment has remained high, wages and benefits have seen little improvement, poverty has increased, and the trend toward more inequality of incomes and wealth has continued. It appears that the Great Recession has given way to a period of long-term anemic growth, which Foster and McChesney aptly term the Great Stagnation. This incisive and timely book traces the origins of economic stagnation and explains what it means for a clear understanding of our current situation. … | more |
What Every Environmentalist Needs To Know about Capitalism
A Citizen's Guide to Capitalism and the Environment
There is a growing consensus that the planet is heading toward environmental catastrophe: climate change, ocean acidification, ozone depletion, global freshwater use, loss of biodiversity, and chemical pollution all threaten our future unless we act. What is less clear is how humanity should respond. The contemporary environmental movement is the site of many competing plans and prescriptions, and composed of a diverse set of actors, from militant activists to corporate chief executives.… | more |
The Theory of Monopoly Capitalism (New Edition)
An Elaboration of Marxian Political Economy
John Bellamy Foster is a leading exponent of the theoretical perspective that continues in the tradition of Baran and Sweezy’s Monopoly Capital. This new edition of his essential work, The Theory of Monopoly Capitalism, is a clear and accessible explication of this outlook, brought up to the present, and incorporating an analysis of recently discovered “lost” chapters from Monopoly Capital and correspondence between Baran and Sweezy. It also discusses Magdoff and Sweezy’s analysis of the financialization of the economy in the 1970s, ‘80s, and ‘90s, leading up to the Great Financial Crisis of the opening decade of this century.… | more |
Links review of The Ecological Rift
Climate change is often called the greatest environment threat facing humanity. The threat is very real. Unless we cut carbon pollution fast, runaway climate change will worsen existing environmental and social problems, and create new ones of its own. But it’s no longer enough to simply refer to the climate crisis. Climate change is one part of a broader ecological disaster, brought about by an economic system that relies on constant growth, endless accumulation, and ever-deepening human alienation.… | more |
Capitalism’s War on the Earth
Humanity in the twenty-first century is facing what might be described as its ultimate environmental catastrophe: the destruction of the climate that has nurtured human civilization and with it the basis of life on earth as we know it. All ecosystems on the planet are now in decline. Enormous rifts have been driven through the delicate fabric of the biosphere. The economy and the earth are headed for a fateful collision—if we don’t alter course.… | more |
The U.S. Pursuit of Global Dominance
During the Cold War years, mainstream commentators were quick to dismiss the idea that the United States was an imperialist power. Even when U.S. interventions led to the overthrow of popular governments, as in Iran, Guatemala, or the Congo, or wholesale war, as in Vietnam, this fiction remained intact. During the 1990s and especially since September 11, 2001, however, it has crumbled. Today, the need for American empire is openly proclaimed and defended by mainstream analysts and commentators.… | more |
Making Peace with the Planet
Since the atomic bomb made its first appearance on the world stage in 1945, it has been clear that we possess the power to destroy our own planet. What nuclear weapons made possible, global environmental crisis, marked especially by global warming, has now made inevitable—if business as usual continues.… | more |
Causes and Consequences
The bursting of the housing bubble and the ensuing financial debacle have left most people, including many economists and financial experts asking: Why did this happen? If they had been reading Monthly Review, and were familiar with such articles as “The Household Debt Bubble,” “The Explosion of Debt and Speculation,” and “The Financialization of Capitalism,” they would not have needed to ask. In their new book, The Great Financial Crisis: Causes and Consequences, Monthly Review editor John Bellamy Foster and long-time Monthly Review contributor, Fred Magdoff, update this analysis, exploring the whole course of what is now known as “the worst financial crisis since the Great Depression”: from the debt explosion and housing bubble to the subprime debacle and federal bailout. They argue that this latest financial crash, although greater than any since 1929, is itself a symptom of deeper problems connected to the stagnation of the “real” or productive economy of mature capitalism. Financial bubbles have become the chief means of countering stagnation, but these inevitably burst, bringing the underlying economic problems back to the surface. The only recourse of the system: new and bigger bubbles, leading, as they too pop, to still greater financial crises and worsening conditions of production—in what has now become a vicious cycle.… | more |
Critique of Intelligent Design
Materialism versus Creationism from Antiquity to the Present
Critique of Intelligent Design is a direct reply to the criticisms of intelligent design proponents and a compelling account of the long debate between materialism and religion in the West. It provides an overview of the contemporary fight concerning nature, science, history, morality, and knowledge. Separate chapters are devoted to the design debate in antiquity, the Enlightenment and natural theology, Marx, Darwin, and Freud, and to current scientific debates over evolution and design. It offers empowering tools to understand and defend critical and scientific reasoning in both the natural and social sciences and society as a whole.… | more |
Pox Americana: Exposing the American Empire
This volume brings together the work of leading Marxist analysts of imperialism to examine the burning question of our time—the nature and prospects of the U.S. imperial project currently being given shape by war and occupation in the Middle East.… | more |
with an introduction by John Bellamy Foster
In the decades after 1945, as colonial possessions became independent states, it was widely-believed that imperialism as a historical phenomenon was coming to an end. The six essays collected in this volume demonstrate that a new form of imperialism was, in fact, taking shape—an imperialism defined not by colonial rule but by the global capitalist market. From the outset, the dominant power in this imperialism without colonies was the United States.… | more |