“Creating Wealth” through Debt: The West’s Finance-Capitalist Road by Michael Hudson

Swimming With the Debt Sharks

Image by Truthout.org via Flickr

by Michael Hudson
Writer, Dandelion Salad
Michael Hudson, May 2, 2018
May 7, 2018

Peking University, School of Marxist Studies
May 5-6, 2018

Volumes II and III of Marx’s Capital describe how debt grows exponentially, burdening the economy with carrying charges. This overhead is subjecting today’s Western finance-capitalist economies to austerity, shrinking living standards and capital investment while increasing their cost of living and doing business. That is the main reason why they are losing their export markets and becoming de-industrialized.

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Happy 200th Birthday Karl Marx!

Karl Marx by Robert Diedrichs, 1970. Courtesy WikiCommons

Image by Royal Opera House Covent Garden via Flickr

Dandelion Salad

International May Day 2018

WSWS on May 5, 2018

The 2018 International Online May Day Rally will begin at 5:30 PM EDT on Saturday, May 5. This event is hosted by the International Committee of the Fourth International.

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David Harvey: What is Neoliberalism? + Marx, Capital and the Madness of Economic Reason

What is Marxism?

Image by deepwarren via Flickr

Dandelion Salad

Democracy At Work on Jan 21, 2018

David Harvey defines Neoliberalism in less than 6 minutes.

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The Not-Radical “Socialist” From Vermont by Paul Street

Bernie Sanders - Painting

Image by DonkeyHotey via Flickr

by Paul Street
Writer, Dandelion Salad
The Official Website of Paul Street, Oct. 23, 2017
Previously published at Counterpunch, Oct. 20, 2017
October 29, 2017

Time as a Democracy and Socialist Movement Issue

Working-class and pro-working-class socialists and left anarchists have long fought for shorter working hours (with no reductions in pay) for some very good radically democratic reasons. It isn’t just that workers’ everyday lives and collective marketplace and workplace bargaining power are enhanced when they are freed from the scourge of over-work and when working hours are spread more evenly across the workforce. Beyond these real and meaningful gains, rank-and-file socialists and left anarchists have long supported decent working hours so that workers can have enough time to develop tastes and build knowledge and organizations to fight for a world beyond the rule of capitalism, the profit- and accumulation-addicted system that, in Karl Marx’s famous 1848 words, “resolve[s] personal worth into exchange value” and “le[aves] no other nexus between man and man than naked self-interest, than callous ‘cash payment.’”

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The Communist Manifesto by Karl Marx and Friedrich Engels

The Communist Manifesto by Karl Marx Bookcover

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Dandelion Salad

Ancient Recitations on Nov 24, 2015

The Communist Manifesto is a political pamphlet written by German philosophers Karl Marx and Friedrich Engels. First published in 1848 in London, the manifesto helped fuel the Spring of Nations revolutions of the same year.

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Multidimensional and Complex Nature and Effects of Imperialism On Democracy, Society, Nature, and Human Nature by Fazal Rahman, Ph.D.

THE FACE OF IMPERIALISM

Image via vaticanus

This is an updated version of The Nature and Effects of Imperialism.

by Fazal Rahman, Ph.D.
Writer, Dandelion Salad
Originally published on imperialismandthethirdworld, updated on March 29, 2015
April 1, 2015

“At the same pace that mankind masters nature, man seems to become enslaved to other men or to his own infamy. Even the pure light of science seems unable to shine but on the dark background of ignorance. All our invention and progress seem to result in endowing material forces with intellectual life, and in stultifying human life into a material force.” Karl Marx. Selected Works, Vol. 1, p. 500. Continue reading

Understanding Marx by William T. Hathaway

what is marxism?

Image by Deepwarren via Flickr

by William T. Hathaway
Writer, Dandelion Salad
Germany
April 7, 2014

Review of Crisis and Change Today
By Peter Knapp and Alan J. Spector

Knapp and Spector have written a superb introduction to Marxist thought, a much-needed one, since reading Marx can be a daunting task. The grand old man’s prose is often ponderous, abstract, and complex, so many readers can’t discern his full meaning. Continue reading

M for Marginalism by Michael Hudson

M

Image by duncan via Flickr

by Michael Hudson
Writer, Dandelion Salad
michael-hudson.com
January 22, 2014

Part M in the .

Malthus, Thomas Robert (1766-1834): British economist and spokesman for its landlord class. His Principles of Political Economy (1820) countered Ricardo’s critique of groundrent by pointing out that landlords spent part of it on hiring coachmen and other servants and buying luxury products (coaches, fine clothes and so forth), thus providing a source of demand for British industry, and part capital improvements to raise farm productivity. Continue reading

Veblen’s Institutionalist Elaboration of Rent Theory by Michael Hudson

by Michael Hudson
Featured Writer
Dandelion Salad
http://michael-hudson.com
July 27, 2012

Wage Slavery/Workers Education

Image by Tobias Higbie via Flickr

Michael Hudson’s new book The Bubble and Beyond has just been released and can be purchased via here.

Speech given at the Veblen, Capitalism and Possibilities for a Rational Economic Order Conference, Istanbul, Turkey, June 6th, 2012

Simon Patten recalled in 1912 that his generation of American economists – most of whom studied in Germany in the 1870s – were taught that John Stuart Mill’s 1848 Principles of Political Economy was the high-water mark of classical thought. However, Mill’s reformist philosophy turned out to be “not a goal but a half-way house” toward the Progressive Era’s reforms. Mill was “a thinker becoming a socialist without seeing what the change really meant,” Patten concluded. “The Nineteenth Century epoch ends not with the theories of Mill but with the more logical systems of Karl Marx and Henry George.[1] But the classical approach to political economy continued to evolve, above all through Thorstein Veblen.

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Sam Gindin and Leo Panitch: May 1st and an Independent Workers Movement

International Workers Day march in Minneapolis

Image by Fibonacci Blue via Flickr

Dandelion Salad

Apr 30, 2012 by

Leo Panitch and Sam Gindin: Occupiers and union activists should build class organizations that challenge for power.

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Welcome to the Asylum by Chris Hedges

by
Featured Writer
Dandelion Salad
Truthdig
April 30, 2012 Continue reading

The Nature and Effects of Imperialism by Fazal Rahman, Ph.D.

Note: This article has been updated: Multidimensional and Complex Nature and Effects of Imperialism On Democracy, Society, Nature, and Human Nature by Fazal Rahman, Ph.D.

by Fazal Rahman, Ph.D.
Guest Writer
Dandelion Salad
Originally published on imperialismandthethirdworld.wordpress.com
January 31, 2012

Multidimensional and complex nature and effects of imperialism on democracy, society, nature, and human nature

“At the same pace that mankind masters nature, man seems to become enslaved to other men or to his own infamy.  Even the pure light of science seems unable to shine but on the dark background of ignorance.  All our invention and progress seem to result in endowing material forces with intellectual life, and in stultifying human life into a material force.”  Karl Marx.  Selected Works, Vol. 1, p. 500.   “That hideous pagan idol (imperialism), who would not drink the nectar but from the skulls of the slain.”  Karl Marx.  On Colonialism, Moscow Publication, 1968, p. 87.

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Law of Value 8: Subject/Object by Brendan M. Cooney

Dandelion Salad

Capitalism Sucks - Graffiti on Closed Factory

Image by Ann Douglas via Flickr

on Nov 15, 2011

One of the more common objections raised to Marx’s theory of value, at least here in the theoretical void of cyberspace, is the objection posed by subjective value theory. Though these modern objections often take quite a crude, simplistic tone, they are echoes of a rather old debate, one that dates back to debates between Marxists and Austrian economists that took place in the late 1800′s and early 1900′s. Continue reading

John Nichols and Phil Gasper: Return of Socialism

Dandelion Salad

Capitalism isn't working

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“In the U. S. the Democrats have become what the Republicans used to be  and the Republicans have become lunatics.”  — Phil Gasper

“There’s only one party in America today, with two wings, the conservative wing, known as Democrats, and the reactionary wing, known as Republicans.” — Gore Vidal

“If you ever hear the term “Think Tank”, run from the room. Assume A) no one is thinking and B) a tank is coming your direction.” — John Nichols

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Marx meets the working class by Todd Chretien

https://dandelionsalad.wordpress.com/

by Todd Chretien
SocialistWorker.org
April 7, 2011

Karl Marx (1818 – 1883)

Image via Wikipedia

In Paris, Marx finally encountered the social force capable of achieving liberation.

“I AM referring to ruthless criticism of all that exists, ruthless both in the sense of not being afraid of the results…and being just as little afraid of conflict with the powers that be.”

Marx was in a fighting mood in the months after the German authorities banned the Rheinische Zeitung, the newspaper he had edited in 1842-43. This is not to say that he was unhappy, far from it. After years of courtship, he and Jenny Westphalen were finally married and soon expecting their first child. As Howard Zinn put it in his play Marx in Soho, the two “were powerfully in love.”

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