Tag Archives: Marx

Published by Sage Journals Abstract Marx and many of his less radical contemporary reformers saw the historical role of industrial capitalism as being to clear away the legacy of feudalism—the landlords, bankers, and monopolists extracting economic rent without producing real value. However, that reform movement failed. Today, the finance, insurance, and real estate (FIRE) sector has regained control of government, creating neo-rentier economies. The aim of this...

The Revista Nueva Realidad organised on 12-6-2021 a webinar. It theme was ‘Basics of Marxist Economics: Marx’s Law of Value’. Michael Roberts (economist), Abelardo Marina Flores (prof. of Economics, Autonomous Metropolitan University) and Stavros Mavroudeas (prof. of Political Economy, Panteion University) gave the seminar. My presentation follows below: [embedded content] View this document on Scribd The video recording of the webinar can be assesed via the...

I finished Branko Milanovic's thought provoking Capitalism Alone this summer. But I haven't had much time to write on the blog, as you might have noticed. This is certainly not a review, and I would definitely suggest that you go and buy the book as soon as you can and read it. It is a serious discussion of the future of capitalism, that word that, as Heilbroner often reminded us, was at the center of the discipline, but seldom discussed openly by economists. He cited, if memory doesn't fail...

 With a minimum of editing or preface, I am reposting this one from February 2009. Next year will be the bicentennial of the publication this astonishing but undeservedly obscure pamphlet. One "event" that I am conducting to celebrate the anniversary is posting of around 65 questions that I have mined from the text. I hope that there will be others but that sort of depends on gathering a critical mass of audience.  How is it that notwithstanding the unbounded extent of our capital, the...

Human Geography First Published July 8, 2020 Research Article https://doi.org/10.1177/1942778620937123 Friedrich Engels and his contribution to Marxism Stavros Mavroudeas Professor (Political Economy) Dept. of Social Policy Panteion University e-mail: [email protected] Abstract The 200th anniversary of the birth of F.Engels comes at a time when his contribution to Marxism is being disputed by Neue Lekture and Sraffian authors, based on the alleged discovery of him having...

Economic Lessons for 2020: A Conversation with Dr. Michael HudsonPeoples Forum, December 12, 2019. [embedded content] We are facing a crisis of poverty and economic precarity, where 140 million people are poor or low-income, the costs of living are going up and the chances of living are going down. What condition is our economy in today, more than ten years after the Great Recession of 2008, to withstand another economic downturn? What lessons have we learned – or failed...

The new issue of the journal ECONOMIC THOUGHT (Vol 8, No 2, 2019) has just been published. In this issue I have contributed a comment on Miguel Ramirez’s paper, ‘Credit, Indebtedness and Speculation in Marx’s Political Economy’. The issue contains of course the paper by M.Ramirez as well as his reply to my comments. The whole table of contents of the issue is the following: Vol 8, No 2, 2019 Table of contents Hierarchical Inconsistencies: A Critical Assessment of Justification Juozas...

Heterodox economics and economic anthropology: reflections prompted by two books Working paper N. 807 Luglio 2019 Sergio Cesaratto DEPS, USienaAbstract This paper has been long ago inspired by Jared Diamond (1997) and, in particular, by his extensive use of the concept of economic surplus as the key to the development of civilization. Unfortunately, Diamond does not even mention the origin of the concept in classical and pre-classical economics. Moreover, Diamond does not pay...

The theory of value and distribution is at the heart of economics. To be clear, when I say that it is at the center, it means that discussions of almost any topic in economics, in one way or another, depend on a certain theoretical position about the theory of value and distribution. However, most economists have no clue about it, about the centrality of value. Not only they don't understand the original and now infamous labor theory of value (LTV), that dominated between Petty and Ricardo...

Below follow the text and the links for downloading of my contribution title ‘The 4th Industrial Revolution: Myth or Reality?’ at the Workshop organized by Union of Economists of Secondary Education Teachers on 15/2/2019 in Thessaloniki Workshop: ‘The Economy on the Horizon of the Fourth Industrial Revolution’ Thessaloniki, 15/2/19 ‘’ Stavros Mavroudeas Prof. of Political Economy Panteion University e-mail: [email protected]   Abstract The term ‘4th Industrial Revolution’ is...