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A New Approach to Applying Marx’s Value Theory and Its Implications for Socialist Strategy
Author:
In The Falling Rate of Profit and the Great Recession of 2007-2009, Peter H. Jones develops a new non-equilibrium interpretation of the labour theory of value Karl Marx builds in Capital. Applying this to US national accounting data, Jones shows that when measured correctly the profit rate falls in the lead up to the Great Recession, and for the main reason Marx identifies: the rising organic composition of capital.
Jones also details a new theory of finance, which shows how cycles in the profit rate relate to stock market booms and slumps, and movements in the interest rate. He discusses the implications of the analysis and Marx and Engels’ work generally for a democratic socialist strategy.
Jones also details a new theory of finance, which shows how cycles in the profit rate relate to stock market booms and slumps, and movements in the interest rate. He discusses the implications of the analysis and Marx and Engels’ work generally for a democratic socialist strategy.
A New Approach to Applying Marx’s Value Theory and Its Implications for Socialist Strategy
Author:
In The Falling Rate of Profit and the Great Recession of 2007-2009, Peter H. Jones develops a new non-equilibrium interpretation of the labour theory of value Karl Marx builds in Capital. Applying this to US national accounting data, Jones shows that when measured correctly the profit rate falls in the lead up to the Great Recession, and for the main reason Marx identifies: the rising organic composition of capital.
Jones also details a new theory of finance, which shows how cycles in the profit rate relate to stock market booms and slumps, and movements in the interest rate. He discusses the implications of the analysis and Marx and Engels’ work generally for a democratic socialist strategy.
Jones also details a new theory of finance, which shows how cycles in the profit rate relate to stock market booms and slumps, and movements in the interest rate. He discusses the implications of the analysis and Marx and Engels’ work generally for a democratic socialist strategy.
Author:
‘Socialism’ is a word that is now habitually taken to refer to a particular social system that prevailed in different parts of the globe during the twentieth century. This system was defined primarily by single-party rule with public (mainly state) ownership of the means of production along with a centrally planned economy. Its material base was generalised commodity production. The spokespersons of this system claim that this socialism was derived from Marx.
Paresh Chattopadhyay’s Socialism and Commodity Production argues the falsity of this claim. On the basis of a comprehensive study of Marx's own texts, as well as a detailed engagement with a wide variety of theorists of socialist economics, it shows that Marx's socialism constituted an ‘Association’ of free individuals in which private ownership, the commodity, wage labour and the state have no place.
Paresh Chattopadhyay’s Socialism and Commodity Production argues the falsity of this claim. On the basis of a comprehensive study of Marx's own texts, as well as a detailed engagement with a wide variety of theorists of socialist economics, it shows that Marx's socialism constituted an ‘Association’ of free individuals in which private ownership, the commodity, wage labour and the state have no place.
Author:
‘Socialism’ is a word that is now habitually taken to refer to a particular social system that prevailed in different parts of the globe during the twentieth century. This system was defined primarily by single-party rule with public (mainly state) ownership of the means of production along with a centrally planned economy. Its material base was generalised commodity production. The spokespersons of this system claim that this socialism was derived from Marx.
Paresh Chattopadhyay’s Socialism and Commodity Production argues the falsity of this claim. On the basis of a comprehensive study of Marx's own texts, as well as a detailed engagement with a wide variety of theorists of socialist economics, it shows that Marx's socialism constituted an ‘Association’ of free individuals in which private ownership, the commodity, wage labour and the state have no place.
Paresh Chattopadhyay’s Socialism and Commodity Production argues the falsity of this claim. On the basis of a comprehensive study of Marx's own texts, as well as a detailed engagement with a wide variety of theorists of socialist economics, it shows that Marx's socialism constituted an ‘Association’ of free individuals in which private ownership, the commodity, wage labour and the state have no place.
An X-Ray of Socialist Yugoslavia
Author:
Suvin’s ‘X-Ray’ of Socialist Yugoslavia offers an indispensable overview of a unique and often overlooked twentieth-century socialism. It shows that the plebeian surge of revolutionary self-determination was halted in SFR Yugoslavia by 1965; that between 1965– 72 there was a confused and hidden but still open-ended clash; and that by 1972 the oligarchy in power was closed and static, leading to failure. The underlying reasons of this failure are analysed in a melding of semiotics and political history, which points beyond Yugoslavia – including its achievements and degeneration – to show how political and economic democracy fail when pursued in isolation. The emphasis on socialist Yugoslavia is at various points embedded into a wider historical and theoretical frame, including Left debates about the party, sociological debates about classes, and Marx’s great foray against a religious State doctrine in The Jewish Question.
An X-Ray of Socialist Yugoslavia
Author:
Suvin’s ‘X-Ray’ of Socialist Yugoslavia offers an indispensable overview of a unique and often overlooked twentieth-century socialism. It shows that the plebeian surge of revolutionary self-determination was halted in SFR Yugoslavia by 1965; that between 1965– 72 there was a confused and hidden but still open-ended clash; and that by 1972 the oligarchy in power was closed and static, leading to failure. The underlying reasons of this failure are analysed in a melding of semiotics and political history, which points beyond Yugoslavia – including its achievements and degeneration – to show how political and economic democracy fail when pursued in isolation. The emphasis on socialist Yugoslavia is at various points embedded into a wider historical and theoretical frame, including Left debates about the party, sociological debates about classes, and Marx’s great foray against a religious State doctrine in The Jewish Question.