Finance capital

Why financial capitalism is no more "fictitious" than any other kind

WITH THE PRESENT FINANCIAL MELT-DOWN in the U.S. throwing the global economy into question, many on the “Left” are wondering again about the nature of capitalism. While many will be tempted to jump on the bandwagon of the “bailout” being floated by the Bush administration and the Congressional Democrats (including Obama), others will protest the “bailing out” of Wall Street. The rhetoric of “Wall Street vs. Main Street,” between “hardworking America” and the “financial fat cats,” however, belies a more fundamental truth: the two are indissolubly linked and are in fact two sides of the same coin of capitalism. [Read More]

The Hundred Days campaign: the present and future of SDS

FROM JULY 24 UNTIL JULY 28 2008, the new Students for a Democratic Society (SDS) had its third annual national convention in College Park, Maryland. At the convention, national campaigns were presented and voted on by the attendees. A major campaign introduced at the convention was the Hundred Days campaign, which seeks to organize and engage newly politicized Americans in politics beyond the campaign season. During the first one hundred days of the next administration the campaign will organize two nationwide weeks of action to ensure that the people remain involved in politics after the election cycle. [Read More]

Who Needs the Left?

Reflections on Joining the Industrial Workers of the World

IN THE SPRING OF 2006, after years of activity on the Left, I joined the IWW. I joined because it cared little for Leftism. And because it began every meeting with a song. After years of dodging the crossfire of competing claims to revolutionary truth, I breathed happily at last in meetings where no one tested my position on Cuba or the Green Party or state capitalism vs. deformed workers states. [Read More]

The Left is dead! Long live the Left!

Vicissitudes of historical consciousness and possibilities for emancipatory social politics today

The tradition of all dead generations weighs like a nightmare on the brains of the living. —Karl Marx, The 18th Brumaire of Louis Napoleon (1852) The theorist who intervenes in practical controversies nowadays discovers on a regular basis and to his shame that whatever ideas he might contribute were expressed long ago – and usually better the first time around. —Theodor W. Adorno, “Sexual Taboos and the Law Today” (1963) [Read More]