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WRITTEN IN THE AFTERMATH of the 2008 banking crash and published in 2012, Andrew Kliman’s The Failure of Capitalist Production adds to the extensive literature on American decline. Kliman identifies the way that profits have tended to fall relative to investments since the 1970s and also the diminishing rate
On a May night in 2012, Sotheby’s sold a version of Edvard Munch’s The Scream for 119.9 million dollars, setting a new record for the price paid for a single work of art. Meanwhile, union art handlers, locked out in a months-long dispute over a new contract
LIKE MANY CRITICS OF GLOBALIZATION, David Graeber does not seem to understand what capitalism is. Otherwise he would not emphasize time and again that a market economy is something fundamentally different, as he does in his book, Debt: The First 5000 Years. Graeber’s distinction fits with a lot of left-wing currents, from old-fashioned anarchists in the tradition of Proudhon to young militants of Attac.
THE SOCIALIST WORKERS PARTY (SWP) is the largest political party left of the Labour Party, and has been active on the far left since 1977 and before that as the International Socialists since the 1960s. The party was led by Tony Cliff until his death thirteen years ago, and Ian Birchall, who has written this diligently researched memoir, is still a member since joining in the 1960s. Birchall’s “warts-and-all” examination is motivated by a marked unhappiness about A World To Win, the autobiography which Cliff apparently wrote based on recollection, without access to the relevant documentation.
Alain Badiou claims that the twenty first century has yet to begin. We stand mired in the ideology of democratic materialism, which insists there are only bodies and language, and that we can persist without an idea. Our “atonal” environment of weak differences is riddled with a type of nihilism that crushes every master signifier, even those struggling to point in the direction of equality. Emancipatory politics is confronted with the nearly impossible task of going beyond the subject of the market, but with no clear means by which to do so.