Capital and Today’s Crisis by Raya Dunayevskaya
Millions of workers have been laid off since the 2007 crisis, creating a new political world where turbulence is to be expected in the coming period. A new generation of activists has been reading Karl Marx’s Capital to understand our changing contemporary political reality. This new political reality demands a political theory to explain and help transform it. Who is building a revolutionary framework for this process? The contemporary revolutionary left is largely an extension of 1960s Trotskyist and Maoist groups, fighting for correct leadership over movements, or anarchist and insurrectionist currents, trying to set a spark to the dry wood of the people. Are these our only revolutionary political options? Raya Dunayevskaya, great but generally-ignored Marxist theorist, was at one point Trotsky’s secretary but later broke from and critiqued Trotskyism through the Marxist method. Well-known Trinidadian co-thinker CLR James (author of The Black Jacobins on the Haitian slave revolution) has overshadowed her, and she is often dismissed as a cult leader. One day, a member of Advance the Struggle found a Dunayevskaya pamphlet that AS militants informally labeled “The Magical Blue Pamphlet” (MBP).
It is often assumed that Marx’s Capital is a work that explains Capitalist economics. And it does, but to reduce it to that ignores the revolutionary fire built into the text. Raya recontextualizes Capital by demonstrating how it embodies the experience of revolutionary movements; this provides a direct challenge to theorists like famous Trotskyist Ernest Mandel, whose “vulgarization of Marx’s analysis of the dialectical relationship between production and its reflection in the market” Raya smashes on in “Today’s Epigones Who Try to Truncate Marx’s Capital.” One of Dunayevskaya’s central points is that capital is not a thing that oppresses us but a relationship we are subjected to. She explores how the American slave revolts and the Paris Commune formed and deepened Marx’s understanding of capital, summarizes the three volumes of Capital as a singular political unit of revolutionary logic, then finishes the pamphlet by exploring the Russian revolution.