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Capitalism Archives - Institute of the Black World 21st Century

The Rich Can’t Get Richer Forever, Can They?

The Rich Can’t Get Richer Forever, Can They?

By Commentaries/Opinions

Inequality comes in waves. The question is when this one will break. By Liaquat Ahamed, The New Yorker —  In 1831, Alexis de Tocqueville, at the age of twenty-five, was sent by France’s Ministry of Justice to study the American penal system. He spent ten months in the United States, dutifully visiting prisons and meeting hundreds of people, including President Andrew Jackson and his predecessor, John Quincy Adams. On his…

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People react as President Trump speaks to supporters at a rally on August 15, 2019, in Manchester, New Hampshire.

Henry A. Giroux: Neoliberal Capitalism Sets the Stage for Fascism

By Commentaries/Opinions

By Kelly Wilkins, Media For Us — We spoke with cultural critic and one of the founding theorists of critical pedagogy, Henry Giroux, about his latest book, The Terror of the Unforeseen, in which he warns that the economic tyranny of neoliberal capitalism and a culture of cruelty and objectification set the stage for Trump’s rise and the emergence of fascism. This interview has been edited for brevity and clarity. Media…

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JPMorgan Chase CEO Jamie Dimon, AT&T CEO Randall Stephenson and Boeing CEO Dennis Muilenberg speak during the Business Roundtable (BRT) CEO Innovation Summit in Washington, D.C., on December 6, 2018. Since its inception, BRT has been at the forefront of corporate resistance to pro-consumer, pro-union legislative efforts.

A Bunch of CEOs Want to Fix Capitalism. You Can’t Fix Anything Built on Slavery.

By Commentaries/Opinions, Reparations

By William Rivers Pitt, Truthout — Anyone who cracked open the business pages of the major papers on Monday morning was confronted by an avalanche of self-congratulation from the CEO caste and its idolaters. The Business Roundtable (BRT) — a large cohort of massive businesses that has been bending the economy to its will since 1972 — announced that it is “rewriting how it views the purpose of a corporation,” according to The Washington…

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City Buildings

How A Pot Shop And Bank Show Socialism In Action In Capitalist America

By Commentaries/Opinions

Public ownership may terrify some in the U.S. but these four enterprises show it’s already far more common than many people realize. By Teke Wiggin, Huffpost — Socialism is buzzing. Sen. Bernie Sanders (I-Vt.) and Rep. Alexandria Ocasio-Cortez (D-N.Y.), two supporters of democratic socialism, are media stars. American millennials have a more positive view of socialism than capitalism. And President Donald Trump used his State of the Union speech to…

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A sign posted on a construction site says, "Danger Due to Capitalism."

Beware the Soft Hand of Capital

By Editors' Choice

Capitalism co-opts our best visions — through its soft hand, capital reforms its way out of crisis, putting forward more tolerable forms of exploitation. By Clara Mejia-Gamboa & Daniel Sullivan, Roar Magazine — These days, it seems customary to begin any political commentary with the laundry list of indicators of global decline: exploding wealth inequality, looming environmental collapse, and the resurgence of overt racial terror in far-right governments. We are…

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Buy Black and Bank Black: Movement in the US Gains International Attention

By Video/Audio

Atlanta, GA — The “Buy Black” movement draws the attention of a French news outlet. In this video you’ll hear from Killer Mike (Rapper, Activist), Dr. Boyce Watkins (Author, Economist), and Sharif Abdul Malik (Founder, WeBuyBlack) who withdraws money from Bank of America to deposit into a Black owned bank. This video was originally posted on France24.com, September 27, 2016 Also See:  Newark As Model City National Town Hall…

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Faith leaders from communities throughout New York City lead a demonstration and prayer vigil on the steps of City Hall in protest to the Staten Island, New York grand jury's recent decision not to indict a police officer involved in the chokehold death of Eric Garner in July on December 12, 2014 in New York City.

The Capitalism/Racism Partnership- The Basics

By Editors' Choice

Revulsion is building towards the smokescreens of hypocrisy, racism, and nationalism barely masking capitalism’s ongoing failure to provide the jobs and incomes people need. By Richard Wolff, Common Dreams — In the wake of W.E.B. DuBois ’s 150th birthday, his works offer a lens through which to assess US capitalism’s relationship to racism today. He famously wrote: “Capitalism cannot reform itself; it is doomed to self-destruction,” while adding…

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Picture courtesy of the Norman B. Leventhal Map Center

£9.2 trillion drained from India during British rule, economist finds

By Commentaries/Opinions

“The modern capitalist world would not exist without colonialism and the drain,” says Indian economist Utsa Patnaik By Sean Bell, Common Space — BRITAIN impoverished India over the course of its colonial rule by a staggering £9.2 trillion, laying the groundwork for modern international capitalism and holding back present-day India’s ability to escape poverty, a leading Indian economist has claimed. Utsa Patnaik, Professor Emeritus at Jawaharlal Nehru University’s Centre for Economic…

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Engraving of the women pirates Ann Bonny and Mary Read by Benjamin Cole, circa 1724

Motley mutinies, popular pirates and slave revolts at sea

By Reparations

Historian Marcus Rediker spoke to Ken Olende about the struggles that took place aboard the ships of early capitalism. By The Socialist Worker — The first strike wasn’t in a factory or an office. It wasn’t even on land. US historian Marcus Rediker explains how sailors in England fought against a wage cut in 1768. “They went from ship to ship and took down the sails. That’s called striking the sails….

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A map of the transatlantic slave trade

Capitalism — A System Born of Slavery

By Reparations

By Antony Hamilton — People across the political spectrum acknowledge that racism exists, but its origins are shrouded in mystery—deliberately so. Racism is presented as if it has always existed, and individuals make a personal choice to be racist. In reality racism was developed as a means of justifying the transatlantic slave trade, which was crucial for the birth of industrial capitalism. According to one account of the “middle passage”—the journey…

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