Tag Archives: Marx

The other great transformation I have discussed Polanyi on the blog before, but not in great detail (see this video posted a few years back from Fred Block for a more in depth discussion). However, writing about Bob Heilbroner's views of economics, and in particular the labor theory of value, reminded me why I have reservations about Polanyi, something that often surprises my friends, since I often cite some of his ideas, and I did put his book on the Top 10 list.Polanyi has been,...

Pubblichiamo intervista apparsa su Osservatorio globalizzazione Professor Sergio Cesaratto, ordinario nel Dipartimento di Economia Politica e statistica dell’Università degli Studi di Siena, da sempre economista eterodosso e ormai punto di riferimento della divulgazione dell’economia classica in Italia. Ha recentemente pubblicato due importanti libri che hanno avuto molto successo: Chi non rispetta le regole? del 2018 e Sei lezioni di Economia del 2016, dimostrandosi ancora una volta...

Previously I have discussed how Marx’s well known aggregate equalities have been shown to hold under single-system interpretations of his theory of value. In the July 2018 edition of the Cambridge Journal of Economics, there is a noteworthy paper by Ian Wright that reconciles the classical labor theory of value with Marx’s prices of production within a dual-system framework. As with single-system interpretations, Marx’s equalities also hold under Wright’s approach. However, they do so in a...

The Review of Political Economy has done a great service to those interested in political economy, and in particular those concerned with the revival of the surplus approach. It has published the manuscript of Pierangelo Garegnani's unpublished paper.From Fabio Petri's introduction: In the last year of his life, Pierangelo Garegnani (1930–2011) worked on revising a paper on Marx’s labour theory of value drafted 30 years before, which had remained unpublished. This revised paper is what...

Mind blowing stuff A while ago now I discussed technological determinism, and the existence of economic laws, even if not in the same sense that in the so-called hard sciences. This semester I'm teaching a class for first year students (non Econ majors, to clarify for those outside the US) titled somewhat facetiously 'From Fire to Uber.' In fact, the first reading is Heilbroner's 1967 paper discussed in the first link provided above, on whether machines make history.Bob was on the side...

MR OnlineMarx and Metabolism: lost in translation? Ian Angus | editor of Climate and Capitalism MR OnlineOn the eve of Venezuela’s elections, the U.S. empire isn’t sitting idly by Editorial MR OnlineTen Marxist ideas that define the 21st century Sergio Alejandro Gómez EconospeakThe So-called Labour Fund Sandwichman Radical Political Economy Capitalism and the Expropriation of Nature: The Strategic Discourse of Ecosocialism John Bellamy FosterNaked Capitalism To Reform Capitalism,...

While mainstream ecological theory has been dismissive of Karl Marx, serious research in recent decades has recovered some of his very important insights on ecological issues. The pioneers have been James O’Connor and the journal Capitalism, Nature and Socialism—a tradition continued by Joel Kovel—but the most systematic and thorough investigations on Marx’s ecological views are those of John Bellamy Foster and his friends from Monthly Review. Many ecologists accuse Marx of “productivism.”...

Michael HudsonPeking University, School of Marxist StudiesMay 5-6, 2018 Volumes II and III of Marx’s Capital describe how debt grows exponentially, burdening the economy with carrying charges. This overhead is subjecting today’s Western finance-capitalist economies to austerity, shrinking living standards and capital investment while increasing their cost of living and doing business. That is the main reason why they are losing their export markets and becoming...

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Rilanciamo un breve articolo di Massimo Pivetti pubblicato su Costituzionalismo.it (FASCICOLO 3 | 2017, 16 gennaio 2018) sull'anti-statalismo della sinistra che ha purtroppo radici intellettuali profonde (anche se storicamente comprensibili). Naturalmente il ruolo insopprimibile dello Stato in una socialdemocrazia e a maggior ragione nel socialismo pone problemi molto rilevanti relativi alla sua democraticità (dal punto di vista dei lavoratori naturalmente). La sinistra è però sfuggita ai...