Heterodox
A considerable body of literature has been published, during the last century, arguing that a movement away from competitive markets must be recognized in trying to describe and understanding contemporary capitalism. The literature I am thinking of emphasizes big business, corporations, and finance. Here are some selections, not all of which I have read: Rudolf Hilferding (1910). Finance Capital: A study of the latest phase of capitalist development. Adolfe A. Berle and Means (1932). The Modern Corporation and Private Property. Bruno Rizzi (1939). The Bureaucratization of the World James Burnham (1941). The Managerial Revolution: What is happening in the world. Joseph Schumpeter (1950). Capitalism, Socialism, and Democracy Josef Steindl (1952). Maturity and Stagnation in American
Topics:
Robert Vienneau considers the following as important: Full Cost Prices, Karl Marx
This could be interesting, too:
Robert Vienneau writes William Baumol On Marx
Robert Vienneau writes Francis Spufford On Commodity Fetishism As A Dance
Robert Vienneau writes A Derivation Of Prices Of Production With Linear Programming
Robert Vienneau writes How Ownership Obtains A Return According To Marx
A considerable body of literature has been published, during the last century, arguing that a movement away from competitive markets must be recognized in trying to describe and understanding contemporary capitalism. The literature I am thinking of emphasizes big business, corporations, and finance. Here are some selections, not all of which I have read:
- Rudolf Hilferding (1910). Finance Capital: A study of the latest phase of capitalist development.
- Adolfe A. Berle and Means (1932). The Modern Corporation and Private Property.
- Bruno Rizzi (1939). The Bureaucratization of the World
- James Burnham (1941). The Managerial Revolution: What is happening in the world.
- Joseph Schumpeter (1950). Capitalism, Socialism, and Democracy
- Josef Steindl (1952). Maturity and Stagnation in American Capitalism.
- Paul A. Baran and Paul M. Sweezy (1966). Monopoly Capital: An essay on the American economic and social order.
- Robin Marris (1967). The Economic Theory of Managerial Capitalism.
- John Kenneth Galbraith (1967). The New Industrial State.
- Michal Kalecki (1971). Selected Essays on the Dynamics of the Capitalist Economy.
- Jonathan Nizan and Shimshon Bichler (2009). Capital as Power: A study of order and creorder.
I find that I have provided a similar list before. If I wanted to include journal articles, I would say something about Paulo Sylos-Labini. There was a nearby literature arguing the convergence of different systems across, say, the first and second worlds. Another related literature develops theories of imperialism, especially in the context of north-south relations.
As I understand it, many of the above writers were influenced by Marx. But I think even those who accepted the labor theory of value for competitive conditions, argued that the developments they were writing about implied that it no longer applies. For instance, Baran and Sweezy replaced surplus value by the (non-quantitative?) concept of the economic surplus. I was surprised to find myself arguing against this conclusion in recent work.