Abstract
This is a book from the 1960s in the sense that the author explicitly reclaims that period in the United States as one of revolt and subversion of accepted knowledge. In keeping with the priority of the 60s its tone is an angry one but it is also seeking to educate.
Dale Johnson analyses the dominant neoliberal global order and particularly the dominance of finance capital. Its political expressions are also followed through what Johnson calls the ‘triumph of ideology’, the problem of the ‘captive state’ and what he sees as the closing off of the avenues of reform.
This is nothing if not a hopeful book, resonating with 1960s ‘movement’ spirit. The electoral path (Bernie Sanders) is but one route the counter-hegemonic movement might take. It will, whatever shape it takes, be a long-term struggle for ‘radical reform’, argues Johnson.
The book moves from a critique of the current state of affairs to propose solutions based on class mobilisation and the development of a social movement. Its early chapters deal with the political economy of financialisation and the 2007–2009 crisis. It then focuses on how crisis and stagnation have transformed the social structure and social class relations. The nature of the dominant class in the United States is drawn out at some length in subsequent chapters. In particular, Johnson focuses on ‘the contradictions that rule by plutocracy impose on society’. This covers the familiar ground of the way in which political reform forces such as Obama and the Democrats are subordinated to the rule of capital. Johnson also discusses at some length what he calls the State of National Insecurity – CIA, NSA, Defence, and so on – and the danger of American-style fascism in the era of Trump.
Dale Johnson writes within the tradition of the US Monthly Review school. It borrows heavily from its understanding of contemporary US capitalism and imperialism. It argues that the most likely scenario in the coming period will be for the US economy to continue in its degenerative phase with stagnation of the lead economy and most likely another deep crisis. Johnson worked very much within the 1% versus the 99% of the population notion as articulated by the Occupy movement. The finale is uplifting if somewhat vague in its strategy.
The book will be useful to students in the United States looking to get a basic radical education on the workings of the system. It is very readable and accessible so it should definitely be read by students and activists.