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Structure vs Conjuncture
Robert Brenner reads the US mid-term results against deeper structural shifts in the American polity. The rise of the Republican right seen in the context of the long downturn and dismantling of the liberal compact: from New Deal and Great Society to the capitalist offensive under Reagan, Clinton and Bush.
The Boom and the Bubble
In the last four years, the US economy has posted its best performance since the sixties. What is the connexion between the formidable boom in the real economy and the historically unprecedented bubble on the stock market? Could the inflation of asset values far beyond the rise in corporate earnings be preparing a Japanese-style nemesis?
The Regulation Approach: Theory and History
In the past two decades the French (or Paris) School of Economic Regulation has developed an ambitious historical-economic theory which has already had a major impact on efforts to understand the current malaise of the capitalist system and the accompanying economic transformations.footnote1 On the face of it, the School’s favourable . . . read more
Why is the United States at War with Iraq?
Why is the United States at war with Iraq?footnote* It is a lot easier to say what are not the reasons for us intervention in the Gulf than to provide a fully satisfactory account of its presence there. According to the Bush administration, the usa is fighting Iraq because Saddam . . . read more
Reply to Sweezy
Readers will have to judge for themselves whether or not I have mischaracterized Paul Sweezy’s arguments. I do not think my understanding of his case is idiosyncratic. Other writers, most recently John Merrington in his ‘Town and Country in the Development of Capitalism’ (nlr 93, September–October 1975, pp. 71–5), have . . . read more
The Origins of Capitalist Development: A Critique of Neo-Smithian Marxism
The appearance of systematic barriers to economic advance in the course of capitalist expansion—the ‘development of underdevelopment’—has posed difficult problems for Marxist theory.footnote* There has arisen, in response, a strong tendency sharply to revise Marx’s conceptions regarding economic development. In part, this has been a healthy reaction to the Marx . . . read more