Capitalist Revolutionary: John Maynard Keynes
... years following the Second World War. These changes have had a profound effect on which Keynes people have been able to see. There is, however, another reason for seeing Keynes differently. As we will show in the following chapters, Keynes and Keynesianism were multidimensional. Unusually, Keynes st ...
... years following the Second World War. These changes have had a profound effect on which Keynes people have been able to see. There is, however, another reason for seeing Keynes differently. As we will show in the following chapters, Keynes and Keynesianism were multidimensional. Unusually, Keynes st ...
Capitalist Revolutionary: John Maynard Keynes
... years following the Second World War. These changes have had a profound effect on which Keynes people have been able to see. There is, however, another reason for seeing Keynes differently. As we will show in the following chapters, Keynes and Keynesianism were multidimensional. Unusually, Keynes st ...
... years following the Second World War. These changes have had a profound effect on which Keynes people have been able to see. There is, however, another reason for seeing Keynes differently. As we will show in the following chapters, Keynes and Keynesianism were multidimensional. Unusually, Keynes st ...
Contending Economic Theories: Neoclassical, Keynesian, and
... and the latter to the neoclassical dominance again. Sometimes Marxism appears as the other in this movement between different theories. Chapter 6 explores these oscillations in society and theory and their interconnections. This book also introduces readers to major new developments inside Marxian e ...
... and the latter to the neoclassical dominance again. Sometimes Marxism appears as the other in this movement between different theories. Chapter 6 explores these oscillations in society and theory and their interconnections. This book also introduces readers to major new developments inside Marxian e ...
The CasP Project: Past, Present, Future
... the 2000s – and we took these two correlations as evidence that, during both periods, capitalists had been gripped by systemic fear. In retrospect, though, this was a hasty conclusion to draw. In his critique of our work, Andrew Kliman showed that we had erred. The positive correlation between curre ...
... the 2000s – and we took these two correlations as evidence that, during both periods, capitalists had been gripped by systemic fear. In retrospect, though, this was a hasty conclusion to draw. In his critique of our work, Andrew Kliman showed that we had erred. The positive correlation between curre ...
THE CONTINUING RELEVANCE OF FRED - dinamia`cet-iul
... making, not only because it contains insights and concepts that may prove useful for current debates about market institutions, but also because it was written at a time of transition to a new phase of capitalism which it tentatively tries to capture and anticipate. In the spirit of Polanyi (1957), ...
... making, not only because it contains insights and concepts that may prove useful for current debates about market institutions, but also because it was written at a time of transition to a new phase of capitalism which it tentatively tries to capture and anticipate. In the spirit of Polanyi (1957), ...
Chapter 1
... o Understand business activities o Learn the importance of profitability Individual businesses Local and regional impact Global economic impact ...
... o Understand business activities o Learn the importance of profitability Individual businesses Local and regional impact Global economic impact ...
Financialization and Neoliberalism
... several decades, but at some point it ceases to do so. This brings a period of crisis, which eventually gives rise to a new SSA. Each SSA exists at the level of global capitalism as well as within individual countries, although with some institutional variation across countries. The construction of ...
... several decades, but at some point it ceases to do so. This brings a period of crisis, which eventually gives rise to a new SSA. Each SSA exists at the level of global capitalism as well as within individual countries, although with some institutional variation across countries. The construction of ...
Theses on Financialisation and the Ambivalence of Capitalist Growth
... This view is accurate insofar as it describes the general tendency of those societies in which the capitalist mode of production prevails, especially when they are compared with pre-capitalist societies or when the focus is on capitalism as a global system. The stupendous increase in the use of reso ...
... This view is accurate insofar as it describes the general tendency of those societies in which the capitalist mode of production prevails, especially when they are compared with pre-capitalist societies or when the focus is on capitalism as a global system. The stupendous increase in the use of reso ...
Role of the State in Developing Countries: Public Choice versus
... Using this framework, interest group politics in public choice based on a societycentred approach, assumed interest mobilisation and government response to lobbying activities1. As it is known, in Western political history, the state and interest group interactions were/are defined in the framework ...
... Using this framework, interest group politics in public choice based on a societycentred approach, assumed interest mobilisation and government response to lobbying activities1. As it is known, in Western political history, the state and interest group interactions were/are defined in the framework ...
2014 Working paper on Cross
... Palich, 2008; Nystrom, 2008; Sobel, Clark, & Lee, 2007). Each of these studies relies on published indices for prediction, such as the Index of Economic Freedom (Heritage Foundation, 2009) or the Economic Freedom of the World Index (Gwartney & Lawson, 2003). Understandably, the use of these freedom ...
... Palich, 2008; Nystrom, 2008; Sobel, Clark, & Lee, 2007). Each of these studies relies on published indices for prediction, such as the Index of Economic Freedom (Heritage Foundation, 2009) or the Economic Freedom of the World Index (Gwartney & Lawson, 2003). Understandably, the use of these freedom ...
Financialization and the Crises of Capitalism
... Marx highlighted the contradictions of capitalism, and argued that capitalism is but a stage on the way to a final societal form (Wallerstein 1974). Despite its contradictions and potential limits, capitalism continues to survive, by periodically redesigning and renewing its structure. Followers of ...
... Marx highlighted the contradictions of capitalism, and argued that capitalism is but a stage on the way to a final societal form (Wallerstein 1974). Despite its contradictions and potential limits, capitalism continues to survive, by periodically redesigning and renewing its structure. Followers of ...
Secular Trends and Long Waves (Review Version)
... be accompanied by the substitution of living labor by dead labor (that is, a rising capitaloutput ratio). Since surplus value (the capitalist profit) is produced by living labor, this falling ratio leads to the fall of the profit rate. For Marx, the tendency for the rate of profit to fall in the lon ...
... be accompanied by the substitution of living labor by dead labor (that is, a rising capitaloutput ratio). Since surplus value (the capitalist profit) is produced by living labor, this falling ratio leads to the fall of the profit rate. For Marx, the tendency for the rate of profit to fall in the lon ...
Mateusz Machaj* MARKET SOCIALISM AND ECONOMIC
... The failure of market socialism model stems from the fact that it is not different from the standard type of socialism in which the role of governmental central planner is primary. 6 For this reason it fails on a very basic level; it cannot create a special type of competitive socialism. The proof f ...
... The failure of market socialism model stems from the fact that it is not different from the standard type of socialism in which the role of governmental central planner is primary. 6 For this reason it fails on a very basic level; it cannot create a special type of competitive socialism. The proof f ...
An Empirical and Theoretical Analysis of the New Imperialism
... have brought about discussions of the economic and political strategies of capitalism and their limits. They therefore have an important public and political function. But in many cases the notions of imperialism employed in these discussions remain rather imprecise (Castree, 2006) or unexplained (B ...
... have brought about discussions of the economic and political strategies of capitalism and their limits. They therefore have an important public and political function. But in many cases the notions of imperialism employed in these discussions remain rather imprecise (Castree, 2006) or unexplained (B ...
Jürgen Habermas and the Idea of Legitimation Crisis
... idea was perhaps most succinctly put by Durkheim’s dictum that ‘all in the contract is not contractual’. Economic activity depends upon agreement about this range of values to work effectively. Without such a Gemeinsarnkeit to contribute what Habermas calls the socio-cultural life world, there would ...
... idea was perhaps most succinctly put by Durkheim’s dictum that ‘all in the contract is not contractual’. Economic activity depends upon agreement about this range of values to work effectively. Without such a Gemeinsarnkeit to contribute what Habermas calls the socio-cultural life world, there would ...
Schmidt, Ingo_Luxemburg_Accumulation of
... between Marx’ and Luxemburg’s analyses of capital accumulation and the twosector growth models that were discussed in the 1960s and 1970s. Economic historians should be fascinated by the way Luxemburg discusses the interrelated developments of economic theories and their policy implications against ...
... between Marx’ and Luxemburg’s analyses of capital accumulation and the twosector growth models that were discussed in the 1960s and 1970s. Economic historians should be fascinated by the way Luxemburg discusses the interrelated developments of economic theories and their policy implications against ...
NOTES ON CONTEMPORARY IMPERIALISM Phases of Imperialism
... Canal). The other was State intervention in “demand management” in advanced countries to maintain high levels of employment, which until then had never been experienced in capitalist economies. State intervention in demand management in turn was made possible through the imposition of controls over ...
... Canal). The other was State intervention in “demand management” in advanced countries to maintain high levels of employment, which until then had never been experienced in capitalist economies. State intervention in demand management in turn was made possible through the imposition of controls over ...
The Future of the Capitalist State
... labour-power to be able to live and to participate fully in social life, they are not actually commodities – merely treated as if they were. It is only when labour-power acquires a commodity form that the market-mediated self-valorization of capital becomes possible. Selfvalorization is the process ...
... labour-power to be able to live and to participate fully in social life, they are not actually commodities – merely treated as if they were. It is only when labour-power acquires a commodity form that the market-mediated self-valorization of capital becomes possible. Selfvalorization is the process ...
HIERARCHICAL CAPITALISM IN LATIN AMERICA: COMPARATIVE
... Although there are differences among the three Latin American countries, if we compare them with South Korea, the gaps are larger. Such country bases its economic growth on two strategies: the first is the financial support of large conglomerates of families (chaebol) (Witt, 2014), such as Samsung, ...
... Although there are differences among the three Latin American countries, if we compare them with South Korea, the gaps are larger. Such country bases its economic growth on two strategies: the first is the financial support of large conglomerates of families (chaebol) (Witt, 2014), such as Samsung, ...
Chapter 9 High Road Capitalism
... economic environment and that government regulations mostly just get in the way of energetic entrepreneurs and are thus ultimately harmful to prosperity. While the economic crisis that began in 2008 may signal a change in this faith in the free market and hostility to government, conservative politi ...
... economic environment and that government regulations mostly just get in the way of energetic entrepreneurs and are thus ultimately harmful to prosperity. While the economic crisis that began in 2008 may signal a change in this faith in the free market and hostility to government, conservative politi ...
State Capitalism in China
... debt and the lackluster growth of labor income (relative to GDP growth). This account of the Chinese economy contradicts both the normative account provided by Bremmer as well as the positivistic account provided by Lardy.2 At least in terms of policy rhetoric, the Chinese policy makers have signale ...
... debt and the lackluster growth of labor income (relative to GDP growth). This account of the Chinese economy contradicts both the normative account provided by Bremmer as well as the positivistic account provided by Lardy.2 At least in terms of policy rhetoric, the Chinese policy makers have signale ...
Rosa Luxemburg, the critique of political economy, and the political
... Bukharin and Sweezy, who found that Rosa Luxemburg confused the problem of ‘where demand comes from to realise surplus value’ with the problem of ‘where money comes from to monetize profits’. On this understanding of Luxemburg’s theory, the second issue is simply technical and easily solved (it is e ...
... Bukharin and Sweezy, who found that Rosa Luxemburg confused the problem of ‘where demand comes from to realise surplus value’ with the problem of ‘where money comes from to monetize profits’. On this understanding of Luxemburg’s theory, the second issue is simply technical and easily solved (it is e ...
Varieties of Capitalism in Light of the Euro Crisis
... confirms that these political economies are especially reliant on exports. Mediterranean Market Economies and Other Growth Models Among the countries of the new monetary union, however, were some with different varieties of capitalism (Pontusson 2005b; Amable 2003). These include the Mediterranean m ...
... confirms that these political economies are especially reliant on exports. Mediterranean Market Economies and Other Growth Models Among the countries of the new monetary union, however, were some with different varieties of capitalism (Pontusson 2005b; Amable 2003). These include the Mediterranean m ...
Capitalism and Degrowth— An Impossibility Theorem
... Needless to say, none of this would come easily, given today’s capitalist economy. In particular, Latouche’s work, which can be viewed as exemplary of the European degrowth project, is beset with contradictions, resulting not from the concept of degrowth per se, but from his attempt to skirt the que ...
... Needless to say, none of this would come easily, given today’s capitalist economy. In particular, Latouche’s work, which can be viewed as exemplary of the European degrowth project, is beset with contradictions, resulting not from the concept of degrowth per se, but from his attempt to skirt the que ...
Finance and Growth under Capitalism
... endogenous stimuli refer exclusively to the super multiplier effects of some multiplicand; they themselves do not constitute the multiplicand. Exogenous stimuli provide this multiplicand. And they can explain growth only if this multiplicand operates more or less stea ...
... endogenous stimuli refer exclusively to the super multiplier effects of some multiplicand; they themselves do not constitute the multiplicand. Exogenous stimuli provide this multiplicand. And they can explain growth only if this multiplicand operates more or less stea ...
State capitalism
State capitalism is usually described as an economic system in which commercial (i.e. for-profit) economic activity is undertaken by the state, where the means of production are organized and managed as business enterprises, including the processes of capital accumulation, wage labor, and centralized management. This designation applies to economies regardless of the political aims of the state, even if the state is nominally socialist. State capitalism is characterized by the dominance of state-owned business enterprises, corporatized government agencies (agencies organized along business management practices), and states that own controlling shares of publicly listed corporations. The term is also often used to describe the economic systems of socialist states, and many socialists argue that the Soviet Union either did not transcend capitalism, or as a criticism of its political system, argue that it could not achieve socialism but rather established state capitalism.State capitalism has also come to refer to an economic system where the means of production are owned privately but the state has considerable control over the allocation of credit and investment, as in the case of France during the period of dirigisme. Alternatively, state capitalism may be used (sometimes interchangeably with state monopoly capitalism) to describe a system where the state intervenes in the economy to protect and advance the interests of large-scale businesses. This practice is often claimed to be in contrast with the ideals of both socialism and laissez-faire capitalism.There are various theories and critiques of state capitalism, some of which have existed before the 1917 October Revolution. The common themes among them are to identify that the workers do not meaningfully control the means of production and that commodity relations and production for profit still occur within state capitalism. Vladimir Lenin notably described the economy of Russia as state capitalism. Libertarian socialists, such as Noam Chomsky, use the term ""state capitalism"" to refer to economies that are nominally capitalist, such that the decisive research and development is performed by the public sector at public cost, but private owners reap the profits.Marxist literature typically defines state capitalism as a social system combining capitalism—the wage system of producing and appropriating surplus value—with ownership or control by a state. By that definition, a state capitalist country is one where the government controls the economy and essentially acts like a single huge corporation, extracting the surplus value from the workforce in order to invest it in further production. Friedrich Engels, in Socialism: Utopian and Scientific, argued that state ownership does not do away with capitalism by itself, but rather would be the final stage of capitalism, consisting of ownership and management of large-scale production and communication by the bourgeois state. He argued that the tools for ending capitalism are found in state capitalism.Some use the term to refer to capitalist economies where the state provides substantial public services and regulation of business activity. This could refer to several ideologies, ranging from social liberalism and social democracy to fascism. The term is also used by some in reference to a private capitalist economy controlled by a state, often meaning a privately owned economy that is subject to statist economic planning. In the 1930s, Italian Fascist leader Benito Mussolini said that were fascism to conform itself to modern capitalism, it would end up as being ""state socialism turned on its head"". This term was often used to describe the controlled economies of the Great Powers in the First World War.