Marx
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MMT, Marglin and Marx
Let me start this post by quoting Noah Smith, liberal economist and Bloomberg journalist from his blog on Modern Monetary Theory (MMT): “The New York Times (NYT) just came out with a big glowing writeup of MMT, entitled “Time for a Victory Lap*”. This article aroused the anger of just about every macroeconomist on Twitter, and with good reason… Continue reading
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Inflation and financial risk
Is inflation coming back in the major capitalist economies? As the US economy (in particular) and other major economies begin to rebound from the COVID slump of 2020, the talk among mainstream economists is whether inflation in the prices for goods and services in those economies is going to accelerate to the point where central… Continue reading
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The Ideology of Late Imperialism
In 1990, when renowned Indian Marxian economist Prabhat Patnaik asked “Whatever Happened to Imperialism?,” once vibrant and influential schools of theories on imperialism were at a postwar historic low.1 When he left the West to return to India in 1974, imperialism was at the center of all Marxist discussions. But when he came back to… Continue reading
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Breaking the glass screen – framing monopoly capitalism in global commodity chains
The term global commodity chain referred to the material and logistical aspects of organizing production involving numerous components brought together over spatially dispersed global production platforms and or assembly sites. Continue reading
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Engels on nature and humanity
In the light of the current pandemic, here is a rough excerpt from my upcoming short book on Engels’ contribution to Marxian political economy on the 200th anniversary of his birth. Continue reading
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Engels’ pause and the condition of the working class in England
On this day, 15 March 1845, Friedrich Engels published his masterpiece of social analysis, The Condition of the Working Class in England. This year is the 200th anniversary of Engels’ birth. Below is a short (rough) extract from my upcoming book on the contribution that Engels made to Marxian political economy. Continue reading
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A Certain Stage of Development
At a certain stage of development, the material productive forces of society come into conflict with the existing relations of production, or–this merely expresses the same thing in legal terms–with the property relations within the framework of which they have operated hitherto. From forms of development of the productive forces, these relations turn into their… Continue reading
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The Handbook of Karl Marx: profitability, crises and financialisation
The Oxford Handbook of Karl Marx, edited by Matt Vidal, Tomas Rotta, Tony Smith and Paul Prew, brings together a series of chapters by prominent Marxist scholars covering all aspects Marxist theory, from historical materialism, dialectics, political economy, social reproduction and post-capitalist models. Continue reading
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THE “NEW READING OF MARX” (NRM). More irrelevant than immaterial
26 June 2019 — theplanningmotive.com This thesis is about measuring intangible and creative labours. immaterial-production-2-pdf.pdf Continue reading
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Invisible Leviathan – Marx’s law of value in the twilight of capitalism By michael roberts
The message of Murray Smith’s book is aptly portrayed by its title, Invisible Leviathan. The book sets out to explain why Marx’s law of value lurks invisibly behind the movement of markets in modern capitalism and yet ultimately explains the disruptive and regular recurrence of crises in production and investment that so damage the livelihoods (and… Continue reading
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Climate and contradiction in Marx’s theory of history by Matt Huber
Climate change is often seen as a “new” kind of crisis of capitalism – one that throws into question the standard Marxist analysis as having a blind spot with respect to nature. This has led to a whole host of intellectual efforts to “green” Marxism, or to argue an ecological Marxism must go beyond class… Continue reading
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Problems of Value Production (1) By S. Artesian
In Marx’s analysis the commodity embodies and binds together time and space. The commodity possesses both physical and social characteristics, even if the commodity is provided as a service. The social existence is of time. The commodity circulates on the back of a mule called socially necessary labor time. Continue reading
The New Dark Age 