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Author: Alfredo Saad Filho
Publisher: Routledge
ISBN: 1134566972
Category : Business & Economics
Languages : en
Pages : 190
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Book Description
This book constitutes an overview of recent developments in political economy in general, and Marxist value theory in particular. The implications of value theory for bank credit, inflation and deflation are fully explored.
Author: Alfredo Saad Filho
Publisher: Routledge
ISBN: 1134566972
Category : Business & Economics
Languages : en
Pages : 190
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Book Description
This book constitutes an overview of recent developments in political economy in general, and Marxist value theory in particular. The implications of value theory for bank credit, inflation and deflation are fully explored.
Author: Ernesto Screpanti
Publisher: Open Book Publishers
ISBN: 178374782X
Category : Education
Languages : en
Pages : 134
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Book Description
In this book Ernesto Screpanti provides a rigorous examination of Marx’s theory of exploitation, one of the cornerstones of Marxist thought. With precision and clarity, he identifies the holes in traditional readings of Marx’s theory before advancing his own original interpretation, drawing on contemporary philosophy and economic theory to provide a refreshingly interdisciplinary exegesis. Screpanti’s arguments are delivered with perspicuity and verve: this is a book that aims to spark a debate. He exposes ambiguities present in Marx’s exposition of his own theory, especially when dealing with the employment contract and the notions of ‘abstract labor’ and ‘labor value’, and he argues that these ambiguities have given rise to misunderstandings in previous analyses of Marx’s theory of exploitation. Screpanti’s own interpretation is a meticulously argued counterpoint to these traditional interpretations. Labour and Value is a significant contribution to the theory of economics, particularly Marxist economics. It will also be of great interest to scholars in other disciplines including sociology, political science, and moral and political philosophy. Screpanti’s clear and engaging writing style will attract the interested general reader as well as the academic theorist.
Author: Desmond McNeill
Publisher: Springer Nature
ISBN: 3030561232
Category : Business & Economics
Languages : en
Pages : 324
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Book Description
This book demonstrates the continuing relevance of Marx’s critique of the capitalist system, in which value is simply equated with market price. It includes chapters specifically on the environment and financialisation, and presents Marx’s qualitative theory of value and the associated concept of fetishism in a clear and comprehensive manner. Section I demonstrates how fetishism developed in Marx’s writing from a journalistic metaphor to an analytical device central to his critique. In Section II, commodity fetishism is distinguished from other forms: of money, capital and interest-bearing capital. There follows an analysis of Marx’s complex attempt to distinguish his argument from that of Ricardo, and Samuel Bailey. The section ends with a discussion of the ontological status of value: as a social rather than a natural phenomenon. Section III considers the merits of understanding value by analogy with language, and critically assesses the merits of structural Marxism. Section IV challenges Marx’s emphasis solely on production, and considers also exchange and consumption as social relations. Section V critically assesses recent Marx-inspired literature relating to the two key crises of our time, finance and the environment, and identifies strong similarities between the key analytical questions that have been debated in each case.
Author: Robert Bryer
Publisher: Lexington Books
ISBN: 1498536077
Category : Business & Economics
Languages : en
Pages : 333
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Book Description
Many scholars discuss Marx’s Capital from many perspectives, but Accounting for Value uniquely advances and defends an ‘accounting interpretation’ of his theory of value, that he used it to explain capitalists’ accounts. It confirms and builds on the Temporal Single-System Interpretation’s refutation of the charge that Marx’s illustration of the ‘transformation from values to prices’ is inconsistent, and its defense of his ‘Law of the Tendential Fall in the Rate of Profit’. It rejects other interpretations by showing that only a ‘temporal’, ‘single-system’ interpretation is consistent with Marx’s accounting. The book shows that Marx became seriously interested in accounts from the late 1850s during an important period in the development of his critique of political economy, asking Engels for information and explanations. Examining their letters in the context of Marx’s evolving work, it argues, supports the hypothesis that discovering he could explain them with his theory of value gave him the breakthrough he needed to decide how to present his work and explains why, in 1862, he decided to change its title to Capital. Marx’s explanations of capitalist accounting, it concludes, amount to an ‘accounting theory’ that explains how individual capitalists and the capital market use what is, for many, the ‘invisible hand’ of accounting to control the production and distribution of surplus value. Marx claimed his theory of value was a work of ‘science’, a critique of political economy that would deliver a ‘theoretical blow’ from which the bourgeoisie would ‘never recover’. He failed, critics argue, because his critique depends on hypothetical entities, which we cannot directly observe, such as ‘value’ and ‘abstract labour’, ‘surplus value’, which means his theory is not open to empirical refutation. The book, however, argues that he used his theory of value to explain the ‘phenomenal forms’ of ‘profit’, ‘rate of profit’, etc., by explaining the observable accounting principles and practices capitalists use to calculate and control them, in which, as he said, we can ‘glimpse’ the determination of value by socially necessary labor time, which experience could have refuted.
Author: Wayne Price
Publisher:
ISBN: 9781939202017
Category : Anarchism
Languages : en
Pages : 0
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Book Description
'The Value of Radical Theory' explains Marx's economic theory, providing the reader with a solid foundation of his critique on capitalism, and also offers insights and a framework where anarchists might learn aspects of Marxist theory while remaining anarchists. This erudite primer sidesteps the typical anarchist vs. Marxist debates, presenting Marx's theory as an enduring explanation of contemporary capitalism, one that will aid in the task of overcoming the market and ushering in an era of participatory control of the economy inspired by anarchist ethics.
Author: Karl Marx
Publisher: DigiCat
ISBN:
Category : Fiction
Languages : en
Pages : 62
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Book Description
"Wage-Labour and Capital" was derived from Marx's lectures to the German Workmen's Club of Brussels in 1847, during a period of great political upheaval. The relationship between wage labor and capital is a central concept in Marx's political economy analysis. This book is essential for understanding the evolution of Marxist theory.
Author: Isaak Ilʹich Rubin
Publisher:
ISBN: 9780919618114
Category : Political Science
Languages : en
Pages : 324
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Book Description
Political economy, defined in the study of social relations and culture. Originally published in the former Soviet Union, was suppressed and after 1928 it was never re-issued. This is the first English-language edition. Includes an outstanding introductory essay on "Commodity Fetishism" by Freddy Perlman.
Author: Samir Amin
Publisher: NYU Press
ISBN: 1583674241
Category : Business & Economics
Languages : en
Pages : 97
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Book Description
In this slim, insightful volume, noted economist Samir Amin returns to the core of Marxian economic thought: Marx’s theory of value. He begins with the same question that Marx, along with the classical economists, once pondered: how can every commodity, including labor power, sell at its value on the market and still produce a profit for owners of capital? While bourgeois economists attempted to answer this question according to the categories of capitalist society itself, Marx sought to peer through the surface phenomena of market transactions and develop his theory by examining the actual social relations they obscured. The debate over Marx’s conclusions continues to this day. Amin defends Marx’s theory of value against its critics and also tackles some of its trickier aspects. He examines the relationship between Marx’s abstract concepts—such as “socially necessary labor time”—and how they are manifested in the capitalist marketplace as prices, wages, rents, and so on. He also explains how variations in price are affected by the development of “monopoly- capitalism,” the abandonment of the gold standard, and the deepening of capitalism as a global system. Amin extends Marx’s theory and applies it to capitalism’s current trajectory in a way that is unencumbered by the weight of orthodoxy and unafraid of its own radical conclusions.
Author: Diane Elson
Publisher: Verso Books
ISBN: 1784782319
Category : Political Science
Languages : en
Pages : 186
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Book Description
This republication of a long out-of-print collection of essays, first published in 1979, focuses on the elusive concept of “value.” The field of study surrounding the theory of value remains comparatively sparse in Anglophone circles, and the essays here aim to answer the question, “Why is Marx’s theory of value important?”
Author: Karl Marx
Publisher: Pattern Books
ISBN: 2056745607
Category : Political Science
Languages : en
Pages : 716
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Book Description
Theories of Surplus Value is a book that, unlike Marx, actually needs an introduction. Theories was intended to be collected and published as the fourth volume to Marx's Capital, but after Engels had successfully collected and published volumes two and three after Marx's death, Engels died before he could publish it. Theories has had a long history of being in-and-out of publication, and particularly in-and-out of being an actually accessible publication. In 1905, the infamously-hated-by-Lenin Karl Kautsky, published the first edition of the manuscript in three volumes separated and rearranged by Adam Smith in volume one, to David Ricardo in the other two volumes, with the breakup of the Ricardian school as the third volume. Kautsy's version circulated in print and was translated to many languages over the decades, remaining the sole version of Theories until The Institute of Marxism-Leninism published a new German version. This arrangement, while still relatively close to Kautsy's narrative arrangement of tracing surplus value from Smith to the Ricardian split into "vulgar economics," annotated the manuscript with different topic headings. This version was then translated into English by Progress Publishers and this is the version of the book which circulates today and is considered to be the most accurate version to Marx's notebooks. This Radical Reprint by Pattern Books is made to be accessible and as close to only manufacturing cost as possible. This third volume of Theories of Surplus Value covers the confusion between the concepts of commodity and capital, constant and variable capital and over-production, the problem of the relativizing the categories of value and equivalence, John Stuart Mill's reduction of Ricardian's economic theories, and the reductions of surplus-value into profit theory, and, as Marx continually says, its descent into being "vulgar political economy." These three volumes, in totality, are to show how the classical theories of value led to a theory stuck within the market paradigm and caught in the loop of capitalist circularity. For Marx, the current ontology of political economy only ruled within the scope of pragmatism within the market system, and these programs no longer offered any integrated theory of capitalism.
