capitalism

By Timothée Parrique - Timothée Parrique, July 3, 2022

The best the degrowth literature has to offer served on a silver platter. That’s how I would describe The Future is Degrowth: A Guide to a World beyond Capitalism(June 2022) by Matthias Schmelzer, Andrea Vetter, and Aaron Vansintjan.[1] Reading it, I felt like Neo in The Matrix learning everything there is to know about Kung Fu all at once – “I know degrowth.” 

This kind of synthesis was long overdue. The degrowth literature has grown rather large and I cannot think of a single text that maps it all. Research on degrowth used to be my favourite guide to degrowth but there is only so much you can do in a 20-page article (plus, the literature has more than doubled since it was published in 2018). Degrowth: A vocabulary for a new era (2014) is a good pot luck of perspectives but lacks coherence and depth due to its multi-author, short-entry format. I tried my best in The political economy of degrowth (2019) but the end result is rather cumbersome. 

In The Future is Degrowth, the authors have achieved a colossal Spring cleaning of the field. Sufficiency, dépense, commoning, pluriverse, unequal exchange, conviviality, self-determination, and many more (I have counted more than sixty concepts throughout the book). With such an exhaustive span, this book is to degrowth what the IPCC is to climate science: the best available literature review on the topic. 

But warning: this book is not for the academically faint hearted. If you’re looking for a wide-audience introduction to degrowth, this is not one of them, and I would rather recommend The Case for Degrowth[G. Kallis, S. Paulson, G. D’Alisa, F. Demaria], a shorter, less demanding way of covering the basics. If you’ve never heard of the topic at all, Less is more[Jason Hickel], Post Growth: Life after capitalism[Tim Jackson], and Degrowth [Giorgos Kallis] are also good places to start. 

The Future is Degrowth is rather long (more than 100,000 words) but neatly organised. The literature is chiselled into six tidy lists: 3 dimensions and 7 critiques of growth, 5 currents and 3 principles of degrowth, 6 clusters of proposals, and 3 strategies for change. The book itself is divided in seven chapters. After a long introduction (12% of the total book length), the first two chapters deal with understanding economic growth and its critics (that’s about half of the book). The remaining chapters follow Erik Olin Wright’s famous triad: Chapter 4 is about the desirability of degrowth (11%), Chapter 5 about its viability (13%), and Chapter 6 about its achievability (11%). This leaves us with a short concluding chapter (5%) titled “The future of degrowth.” 

With such a monumental piece of work, I could not resolve myself to write a short review, which would feel like summarising all seasons of Game of Thrones in a single tweet. This book deserves a proper dissection, and so I will here process chapter by chapter, taking all the space needed to summarise its content and, in the end, analyse its (many) strengths and (very few) weaknesses.

By Matteo Tiratelli - Red Green Labour, May 19, 2022

In late March, the UN’s Food and Agriculture Organisation warned that the war in Ukraine risked unleashing a “hurricane of global hunger”. With climate change-induced droughts in east Africa and intense heatwaves in India, they feared that a war in Europe’s most fertile and productive region could compound the situation and lead to food shortages on an unprecedented scale. The UN’s concerns were made terrifyingly concrete earlier this month, when the World Food Programme estimated that “44 million people around the world are marching towards starvation”.

The problem is, this narrative – that war and climate change are leading to mass starvation – is wrong.

The recent news cycle has been driven by the explosion in the price of wheat, which has gone from $7.58 per bushel at the start of the year to nearly $12 a few months later. But the prices of basic commodities are extremely volatile. And these spikes have little to do with the amount of food going around, or how much people are eating. Instead, they are driven by financial speculation.

By Braxton Wright - Facing South, April 20, 2022

This month marks one year since 1,100 members of the United Mine Workers of America went on strike at Warrior Met Coal in Alabama following the failure of the union and company to agree on a labor contract. The strike continues today.

Warrior Met was created to buy the assets of Walter Energy after that company declared bankruptcy in 2015. A number of hedge funds own shares in Warrior Met, with New York-based BlackRock — the world's largest asset manager — controlling the most, at about 13% at the end of 2021.

Earlier this year, Senate Budget Committee Chair Bernie Sanders (I-Vermont) held a hearing on Wall Street greed and growing oligarchy in the United States that used Warrior Met as a case study. Sanders invited the CEO of BlackRock to appear at the hearing, along with those from two other hedge funds and Warrior Met, but they all declined to testify.

When Warrior Met was facing bankruptcy, workers agreed to an across-the-board wage cut of 20% along with cuts to their health care and retirement benefits as part of a restructuring deal made by the private equity firms, saving the company an estimated $1.1 billion over the past five years. Since 2017, Warrior Met has paid over $1.5 billion in dividends to its shareholders while paying its CEO over $4 million per year.

"Yet, now that the company has returned to profitability and has seen its stock price skyrocket by 250% during the pandemic, Warrior Met has offered its workers an insulting $1.50 raise over five years and has refused to restore the health care and pension benefits that were taken away from them five years ago," Sanders said in a statement announcing the hearing. "Outrageously and unacceptably, the company has also demanded the power to fire workers who engage in their constitutional right to strike and give seniority to new hires, rather than miners who have given their adult lives to Warrior Met."

Among those who spoke at the hearing was Braxton Wright, a Warrior Met miner and striking UMWA member. He called on lawmakers to support the "Stop Wall Street Looting Act," a measure sponsored by Sen. Elizabeth Warren of Massachusetts and Rep. Mark Pocan of Wisconsin, both Democrats, to help to reform the private equity industry and to give employee compensation higher priority in bankruptcies. This is Wright's written testimony from the hearing.

By Graeme Goossens - Candian Dimension, April 18, 2022

I can’t forget those crisp November mornings. I’d stand respectfully still, a Scout’s red sash across my shoulder. I remember the veteran steadying himself with his cane, standing as straight as he still could, crying silently as the “Last Post” rang out.

“How many of you would have fought?” Ms. Allen had asked our class.

Every tiny hand was raised.

The heroism of the Second World War was etched into my memory.

For the left, there are few national myths fit for duty, but author, activist and organizer Seth Klein has called up the the greatest conflict in history to serve as the key parable in the fight against global warming. Just as Canada mobilized for the war, it must now mobilize for climate change. Klein’s recent book, A Good War: Mobilizing Canada for the Climate Emergency, published by ECW Press in September 2020, makes a powerful case against defeatism and timidity.

Yet despite his impressive call to action (A Good War spent 12 weeks on the CBC Books non-fiction bestseller list), Klein misinterprets Canada’s wartime history and misunderstands the capitalist state. Ultimately, his cross-class strategy cannot deliver climate justice.

Klein’s vision of climate politics is unapologetically state-centric. The stunning wartime transformation of the Canadian economy, vigorously directed by the federal government, proves what is possible. Such a transformation can simultaneously create a more equal society, a development good in itself, while winning public support for a difficult program. And if this seems unimaginable in today’s political climate, Klein argues the war teaches us that public opinion can be shifted through bold leadership from actors primarily, but not exclusively, in the state.

A Good War is written for political impact and as such, Klein gets quickly to the point. The book is structured as a series of lessons we can learn from the wartime experience, introduced in boldface for those too busy to read to the end.

His central argument is a historical comparison: Canada’s success during the Second World War demonstrates what is possible and necessary in our fight against climate change today. So why has such a mobilization not yet been repeated in our contemporary struggle against runaway global warming? Here Klein casts a villain in his story. Though he considers picking the fossil fuel industry, he instead settles on what he terms the “new climate denialism” as the key impediment.

Previous denialism dismissed the science on climate change, but today, our primary enemy is a “way of thinking and practice” that accepts the science while obfuscating its implications. This must be overcome through bold leadership. For Klein, Canada demonstrated such leadership in its fight against fascism. Now, he argues, we must wield it again.

Bold leadership, in his view, must seek to rally the public onside. As in the Second World War, this will involve propaganda, but also efforts to combat the inequality which corrodes a sense of common cause. Wartime plans for post-war social democracy must be echoed by today’s Green New Deal. Klein believes economic barriers can be overcome through a massive expansion of state planning. The government should spend whatever it requires and tax as necessary, but also intervene directly through regulation and the creation of new Crown corporations. Concrete ideas such as a jobs guarantee, a federal high-speed rail network and an inheritance tax add texture, but Klein’s argument does not hang on policy specifics.

In part, his text reads as a direct plea to progressive lawmakers. “This book is an invitation to our political leaders,” he writes in the preface, “to reflect on the leaders who saw us through the Second World War and consider who they want to be, and how they wish to be remembered.” The work was researched through a series of interviews with Canadian politicians, activists and academics. He questions parliamentarians and ministers from various parties on the barriers they face, quotes their responses, and replies in good faith. Central to his rebuttal is a poll commissioned for the book demonstrating strong support for emissions mitigation. “The public,” he argues, “is ahead of our politics.” His role for social movements is ultimately to shift our politicians.

A Good War stands at the cutting edge of progressive climate politics. Along with closely related proposals for a Green New Deal, the climate movement has finally identified a program both adequate for the scale of the challenge and capable of assembling a coalition to achieve it. The book should be lauded for making clear that only the state can coordinate transformation at the speed and scale required.

Yet while A Good War is correct that only the state can bring emissions to zero, Klein is wrong to assume that the state can show the markets who’s boss. And because he misunderstands the capitalist state, he proposes a cross-class coalition aiming to inspire “bold leadership” in our elites. Klein’s program is solid, but this strategy cannot win. Capitalists will fight a just transition tooth and nail, and we cannot overcome their resistance in alliance with them.

By Kim Kelly - The Real News, April 13, 2022

It was supposed to be a terrible day. Thousands of United Mine Workers of America (UMWA) members and supporters were scheduled to convene in Tuscaloosa County, Alabama, on the morning of April 6, 2022, to commemorate the one-year anniversary of the beginning of the Warrior Met Coal strike. But, much like the coal bosses themselves, the forecast was not cooperating. The weather report, in typical fickle Alabama fashion, had been fluctuating between rain, more rain, and certain waterlogged doom; the union had bought ponchos in bulk to prepare. As UMWA International President Cecil E. Roberts said before the rally, “A little bad weather isn’t going to slow us down.”

.@HaedenWright and I talk every day, so we got a little goofy when it was time to do an interview. She and the local UMWA auxiliary have kept the miners’ families fed throughout this very difficult year; Warrior Met tried to starve them out, but as she says, “We’re not starving.” pic.twitter.com/GtUFv6GO7U

— Kim Kelly (@GrimKim) April 13, 2022

By the time I arrived at Tannehill State Park that morning, I was fully prepared to spend my day stuck in the mud impersonating a drowned rat. I was not surprised to see that the day’s schedule had been moved up in a bid to outrun the rain. The original start time was slated for 11AM, but the rally was already in full swing by 10:30AM. Like all UMWA rallies, this one opened with a prayer, and I’m sure I wasn’t the only person in the crowd hoping (or praying) that the universe would see fit to send us some good luck after all.

Buses were still arriving as speakers took the stage; according to an emailed UMWA press release, at least 1,200 UMWA members and retirees had bused in from Illinois, Pennsylvania, Ohio, Kentucky, and West Virginia, and they were joined by union members from across the South. It was a family reunion, with a greater purpose—when the call for solidarity went out, folks listened. They came to pay their respects by the hundreds, traveling across rivers and valleys and up from hills and hollers to be there alongside their afflicted siblings.

By various - European Trade Union Institute - March 8, 2022

By Ted Franklin - System Change not Climate Change, March 8, 2022

At a time when the entire world needs to focus on radical climate policy changes, he has thrust us into a war that might be as existentially dire as the climate crisis.

On day three of the Russian invasion of Ukraine a worldwide group of scientists from the Intergovernmental Panel on Climate Change (“IPCC”) gathered on Zoom to put the final stamp of approval on the UN body’s latest devastating report on the world’s feeble progress on climate.

A dark gloom hung over the proceedings as war threatened to derail global action on climate for years to come. Then Svitlana Krakovska, a Kyiv-based Ukrainian climatologist leading her country’s delegation to the virtual meeting, breached the IPCC’s longstanding commitment to apolitical discourse with a trenchant observation.

“Human-induced climate change and the war on Ukraine have the same roots — fossil fuels and our dependence on them,” she reportedly told her colleagues during a break from the air-raid sirens blaring intermittently in the Ukrainian capital. “The money that is funding this aggression comes from the same [place] as climate change does: fossil fuels. If we didn’t depend on fossil fuels, [Russia] would not have money to make this aggression.”

After Krakovska spoke, scientists and climate diplomats from the 195 IPCC nations listened in amazement as Oleg Anisimov, the head of the Russian delegation, apologized “on behalf of all Russians who were not able to prevent this conflict.”

By C.J. Polychroniou and Robert Pollin - Truthout, February 24, 2022

Since mid-2020, inflation has been rising, with the level of average prices going up at a faster rate than it has since the early 1980s. In January 2022, prices had increased by 7.5 percent compared to prices in January 2021, and it now looks like the U.S. may be stuck with higher inflation in 2022 and even beyond.

Why are prices rising so dramatically? Are we heading toward double-digit inflation? Can anything be done to curb inflation? How does inflation impact growth and unemployment? Renowned progressive economist Robert Pollin provides comprehensive responses to these questions in the exclusive interview for Truthout that follows. Pollin is distinguished professor of economics and co-director of the Political Economy Research Institute at the University of Massachusetts at Amherst.

C.J. Polychroniou: Back in the 1970s, inflation was the word that was on everybody’s lips. It was the longest stretch of inflation that the United States had experienced and seems to have been caused by a surge in oil prices. Since then, we’ve had a couple of other brief inflationary episodes, one in the late 1980s and another one in mid-2008, both of which were also caused by skyrocketing gas prices. Inflation returned with a vengeance in 2021, causing a lot of anxiety, and it’s quite possible that we could be stuck with it throughout 2022. What’s causing this inflation surge, and how likely is it that we could see a return to 1970s levels of inflation?

Robert Pollin: For the 12-month period ending this past January, inflation in the U.S economy was at 7.5 percent. This is the highest U.S. rate since 1981, when inflation was at 10.3 percent. Over the 30-year period from 1991 to 2020, U.S. inflation averaged 2.2 percent. The inflation rate for 2020 itself was 1.2 percent. Obviously, some new forces have come into play over the past year as the U.S. economy has been emerging out of the COVID-induced recession.

To understand these new forces, let’s first be clear on what exactly we mean by the term “inflation.” The 7.5 percent increase in inflation is measuring the average rise in prices for a broad basket of goods and services that a typical household will purchase over the course of a year. At least in principle, this includes everything — food, rent, medical expenses, child care, auto purchases and upkeep, gasoline, home heating fuel, phone services, internet connections and Netflix subscriptions.

In fact, prices for the individual items within this overall basket of goods and services have not all been rising at this average 7.5 percent rate. Rather, the 7.5 percent average figure includes big differences in price movements among individual components in the overall basket.

The biggest single factor driving up overall inflation rate is energy prices. Energy prices rose by 27 percent over the past year, and within the overall energy category, gasoline rose by 40 percent and heating oil by 46 percent. This spike in gasoline and heating oil prices, in turn, has fed into the total operating costs faced by nearly all businesses, since these businesses need gasoline and heating oil to function. Businesses therefore try to cover their increased gasoline and heating oil costs by raising their prices.

By Kooper Caraway, Larry Prencer, Haedon Wright, Braxton Wright, et. al. - Worker Solidarity, February 22, 2022