E-COMMERCE
Buying and selling online (on the Internet). The biggest American company engaged in E-commerce
is Amazon, which has about half of the total U.S. market.
See also:
CROSS-BORDER E-COMMERCE
EAGLETON, Terry (1943- )
Well-known academic “Marxist” literary theorist and critic, and professor of English
Literature at the University of Lancaster. The author of over 50 books, few of which seem
to have any true relevance to promoting social revolution. Eagleton was raised as a Roman
Catholic and still views himself as both a Christian and a “Marxist”. Obviously
whatever Marxism means to him, it is a revisionist and anti-materialist perversion of the
real thing.
Eagleton does defend some principles
of Marxism in his books, while simultaneously taking a bourgeois stand against other
Marxist principles. Similarly, in his unconscious ambivalence, he usually defends Marx but
strongly opposes Mao and the Chinese Revolution. An example of this can be found in his
book, Why Marx Was Right (Yale: 2011).
EARLY RETIREMENT
See: RETIREMENT—Early
EAST CHINA SEA
The portion of the Pacific Ocean between the Asian mainland and the Ryukyu Island chain,
which is bounded in the north by the Yellow Sea and in the south by the Taiwan Strait.
There is a major political dispute in this region between China and Japan over the
ownership of the uninhabited island chain known as the Diaoyu islands in China and as the
Senkaku islands in Japan.
EAST IS RED, The
[In Chinese: Dong Fang Hong] One of the best known revolutionary songs in China
during the Maoist period. It was written in 1942 in praise of Mao and the Communist Party
of China by Li Yu-yuan, a folk singer from northern Shensi province, who himself had once
been a hired farmhand of the landlords. After Liberation in 1949, the song was popularized
throughout China, and may be viewed as part of the personality cult that was constructed
around Mao. The musical score and lyrics in Chinese and English was printed in Peking
Review in issue #41, Oct. 6, 1967, and is available online at:
https://www.massline.org/PekingReview/PR1967/PR1967-41-EastIsRed.pdf [PDF: 119 KB]
The East Is Red [Literal translation of the lyrics.]
The east is red, the sun rises.
China has brought forth a Mao Tse-tung.
He works for the people’s happiness,
(hu er hai yao!)
He is the people’s great savior.
Chairman Mao loves the people,
He is our guide.
He leads us onward,
(hu er hai yao!)
To build the new China.
The Communist Party is like the sun,
Wherever it shines, there is light.
Where there’s the Communist Party,
(hu er hai yao!)
There the people will win liberation.
EASTERN FRONT [World War II]
The battle line between Nazi Germany and the Soviet Union which was by far the most imporant
area of military struggle in the European Theater during World War II. It was the Soviet Red
Army which basically defeated Hitler and German imperialism.
See also:
STALINGRAD—Battle Of
“Germany bled dry on the Eastern Front, unable to match its opponent in manpower (its population was about half that of the USSR), management or arms output. In the West [after D-Day] it faced largely unscathed British and American forces, with abundant reserves of manpower and food behind them. By the war’s end, it had lost more than 3.2 million men. The USSR had lost more than twice this number and suffered many more civilian deaths. But its speedy mobilization testified both to the superior Soviet will to win and to the regime’s greater industrial and technological adaptability. Its ease of access to mineral resources and oil and the supply of Lend-Lease equipment helped hugely. But we should not overlook the fact that, in the case of manpower, the USSR overcame what were in some ways much greater obstacles than the Third Reich: within a year of the invasion, after all, its working population had shrunk from 85 to 53 million people. Given near-full employment, even emptying the Gulag, which happened rapidly, could not make up the shortfall. Instead, the entire population was mobilized, and existing workers were redirected very early on into war industries. Despite evacuation and swingeing [massive] losses of industrial plant, the USSR still produced more weapons in 1942 than the Germans.” —Mark Mazower, an anti-communist historian, Hitler's Empire: How the Nazis Ruled Europe (2013), p. 317.
“EASY MONEY”
A popular term among speculators and the financial bourgeoisie more generally for the ready
availability of money to borrow, which furthermore can be borrowed at low and stable interest
rates.
“Over the last 50 years, every time the Fed has reined in easy money by raising interest rates, a downturn in the markets or the economy has followed eventually.” —Ruchir Sharma, the Chief Global Strategist at Morgan Stanley Investment Management (a large Wall Street firm), “Sowing the Next Downturn”, New York Times, Sept. 19, 2018, p. A-19.
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