Browsing archived posts:
The Biggest ‘October Surprise’ Of All: A World Capitalist Crash

Comrades, history has offered us an opening which, if we fail, will not come again in our lifetimes.

Media: Fictitious Capital and Today’s Global Crisis

A talk with Loren Goldner on the current capitalist crisis.

1973 Redux?: Continuity and Discontinuity in the Decline of Dollar-Centered World Accumulation

The world is still in the early phase of an inflationary blow-out centered on the indebted “U.S. consumer” as the “locomotive” of the world economy.

The “Dollar” Crisis, and Us

Incredible as it may sound, ever since the late 1950’s, the world economy has been tossing around a “hot potato” of an ever-increasing mass of “nomad dollars” (dollars held outside the U.S.) whose actual conversion into tangible wealth would plunge the world into a deflationary crash.

Pause In The Crisis or Beginning of a New Boom?

The fundamental problem for U.S. capitalism is to globally circulate the mass of fictitious capital that has built up over 45 years of subsidized dollar hegemony, making possible that capital’s valorization by extracting an adequate amount of surplus value.

“Total Capital” Rigor and International Liquidity: A Reply to Robert Brenner

Without any distinction between productive and unproductive labor, and without a serious look at the social reproduction of labor power, and without an awareness of how the vast inflow of foreign capital into the U.S. stock market skews figures for “American” firms, what can figures on “profits” mean?

150 Years After the Communist Manifesto

Communism is neither a doctrine sprung from the head of a world reformer, nor a political organization; it is, as Marx said in the Manifesto, “the real movement unfolding before our eyes”.

Fictitious Capital and Crisis Theory: An Introduction

PDF available for download.

Conjuncture: World Capitalism Since the Collapse of the Bretton Woods System

1971 was the closing act of a drama which began with the unilateral creation of the Breton Woods system by the U.S, in the closing phases of World War II.