Value, Technical Change and Crisis


Book Description

This text brings together studies in various aspects of the theory of the capitalist economy. It focuses on major themes of the Marxist tradition that postulate the existence and importance of social relations and structures underlying the esoteric realm of economic categories: prices, profits, wages, etc. The author takes a reappraising, critical look at the concepts of the deep structure - value, explitation, immanent crisis - using the analytical tools of modern economics to improve those concepts. The book is divided into four parts. Part 1 explores the essential nature of capitalism, re-examining problems in the theory of value and exploitation. Part 2 tackles the issue of capitalism-specific paths of growth and technical change, putting forward a rigorous theory of biased technical change and non-steady-state growth. Part 3 examines the cyclical character of capitalist growth and the theory of crises. Finally, Part 4 places capitalism in the wider framework of modes of production, considering the theory of precapitalist formations and aspects of the theory and practical experience of socialism. The guiding theme is the combination, or confrontation, of rigorous, quantitative analytical techniques with equally demanding qualitative and political-economic conceptualization. The book's premise is that this interface is essential to a progressive yet distinctively Marxist social theory.




Value, Technical Change and Crisis


Book Description

This text brings together studies in various aspects of the theory of the capitalist economy. It focuses on major themes of the Marxist tradition that postulate the existence and importance of social relations and structures underlying the esoteric realm of economic categories: prices, profits, wages, etc. The author takes a reappraising, critical look at the concepts of the deep structure - value, explitation, immanent crisis - using the analytical tools of modern economics to improve those concepts. The book is divided into four parts. Part 1 explores the essential nature of capitalism, re-examining problems in the theory of value and exploitation. Part 2 tackles the issue of capitalism-specific paths of growth and technical change, putting forward a rigorous theory of biased technical change and non-steady-state growth. Part 3 examines the cyclical character of capitalist growth and the theory of crises. Finally, Part 4 places capitalism in the wider framework of modes of production, considering the theory of precapitalist formations and aspects of the theory and practical experience of socialism. The guiding theme is the combination, or confrontation, of rigorous, quantitative analytical techniques with equally demanding qualitative and political-economic conceptualization. The book's premise is that this interface is essential to a progressive yet distinctively Marxist social theory.




Value and Crisis


Book Description

Analyzes Japanese contributions to Marxist theory Marxist economic thought has had a long and distinguished history in Japan, dating back to the First World War. When interest in Marxist theory was virtually nonexistent in the United States, rival schools of thought in Japan emerged, and brilliant debates took place on Marx’s Capital and on capitalism as it was developing in Japan. Forty years ago, Makoto Itoh’s Value and Crisis began to chronicle these Japanese contributions to Marxist theory, discussing in particular views on Marx’s theories of value and crisis, and problems of Marx’s theory of market value. Now, in a second edition of his book, Itoh deepens his study Marx’s theories of value and crisis, as an essential reference point from which to analyze the multiple crises that have arisen during the past four decades of neoliberalism. One contribution of the original Value and Crisis was to bridge Japan and the world in the field of Marxian political economy. Itoh’s second edition demonstrates an even wider-ranging familiarity with major schools of Marxist thought, summarizing and assessing viewpoints of such theorists as Hilferding, Bauer, Kautsky, Bukharin, Luxemburg, Grossman, Sweezy, the Japanese Marxist Kozo Uno, together with the relevant parts of Capital and a section on the 1930’s Great Depression. Given today’s current emergencies of world capitalism and socialism, says Itoh, we need to work together to resolve new global problems, articulating new issues of Marx’s theories of value and crisis. The promise of Marx’s theories has not waned. If anything—given the failure of Soviet-style socialism and the catastrophe of neoliberalism—it grows daily.




Value and Crisis: Essays on Labour, Money and Contemporary Capitalism


Book Description

Value and Crisis brings together selected essays written by Alfredo Saad-Filho, one of the most prominent Marxist political economists today. This book examines the labour theory of value from a rich and innovative perspective, from which fresh insights and new perspectives are derived, with applications for the nature of neoliberalism, financialisation, inflation, monetary policy, and the contradictions, limitations and crises of contemporary capitalism.




Transformation in Times of Crisis: Eight Principles for Creating Opportunities and Value in the Post-Pandemic World


Book Description

The coronavirus pandemic is the kind of unpredictable, global catastrophe of staggering proportions that comes along not just every few years but perhaps once in a hundred years. What started out as health crisis, has quickly developed into an economic crisis spurring social unrest across the world. And yet, despite the widespread distress, the picture is more complex than it may seem. For some companies, the crisis has and continues to, provide opportunities for new growth. This urgent and timely book by a visionary business practitioner, Nitin Rakesh, CEO, Mphasis and an award-winning academician, Jerry Wind, Lauder Professor Emeritus, Wharton bridges the worlds of industry and academia to bring you the knowledge that can help your business thrive in the new world. The book defines 8 key principles that form a highly adaptive framework, that gives businesses the tools to adapt and succeed in a new reality. When Nitin Rakesh and Jerry Wind started collaborating on the book prior to the 2020 pandemic, these 8 principles were concepts on the best ways to navigate disruption that needed further exploration. However, today, having incubated the ideas for a period and encountering the unprecedented crisis, this book is a game changer for the business community. Any business, large or small, can customize and implement a winning strategy by using the eight principles and tools clearly outlined here to seek out opportunities for long-term value creation in a post-pandemic world.




Crisis and Change Today


Book Description

Crisis and Change Today provides a solid introduction to Marxist social theory. The work's unique voice is expressed in its Socratic-dialogic approach, structured around forty questions that students have about society and social change. Topics range from theories of history, economics, unemployment, racial oppression, the state, fascism, the collapse of the Soviet bloc, and points of convergence and difference between the dialectical approach and other approaches to social science. The content and tone of the work invites students to evaluate various traditional and current explanations of social institutions and social processes and encourages them to weigh the debates and investigate further. The first edition was very well received (Distinguished Scholarship Award of the Section on Marxist Sociology of the ASA), and the second edition has been thoroughly revised and updated to be relevant for students today. Though the first edition was written during the wake of the fall of the Berlin Wall and the collapse of the Soviet Union, the growing gap between the rich and the poor and the economic crisis have generated more interest in using Marxist analysis both as a tool to analyze and understand capitalism and the weaknesses of past Marxist praxis.




Marx's Theory of Crisis


Book Description

The theory of crisis has always played a central role within Marxism, and yet has been one of its weakest elements. Simon Clarke's important new book provides the first systematic account of Marx's own writings on crisis, examining the theory within the context of Marx's critique of political economy and of the dynamics of capitalism. The book concentrates on the scientific interpretation and evaluation of the theory of crisis, and will be of interest to mainstream economists, as well as to sociologists, political scientists and students of Marx and Marxism.




The Value of Marx


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.




Money and Totality


Book Description

This ambitious book presents a comprehensive new 'macro-monetary' interpretation of Marx’s logical method in Capital, based on substantial textual evidence, which emphasises two main points: (1) Marx’s theory is primarily a macroeconomic theory of the total surplus-value produced in the economy as a whole; and (2) Marx’s theory is a monetary theory from beginning to end and the circuit of money capital – M - C - M’ – is the logical framework of Marx’s theory. It follows from this 'macro-monetary' interpretation that, contrary to the prevailing view, there is no 'transformation problem' in Marx’s theory; i.e., Marx did not 'fail to transform the inputs of constant capital and variable capital' in his theory of prices of production in Part 2 of Volume III.




Spend Shift


Book Description

Gold Medal Winner, General Business, 2012 Axiom Business Book Awards Understanding the post-crisis consumer In Spend Shift, John Gerzema, world-renowned expert on consumer values, and Pulitzer prizewinning author Michael D'Antonio document the rise of a vibrant, values-driven post-recession economy. To tell the story of this movement, the authors travel to large cities and small towns across eight bellwether states, to examine the value shifts sweeping the nation. Through in-depth observation, proprietary data from Young & Rubicam, and interviews with experts, the authors analyze the changing consumer psyche, document the five shifting values and consumer behaviors that are remaking America and the world, and explain what it means to businesses and leaders. Explores a movement in society where the majority of American consumers are embracing both value and values Shows how post-crisis consumer expectations and behaviors will drive business decisions Draws on interviews with CEOs and entrepreneurs to reveal how companies like Ford and Etsy are reconnecting with the post-crisis consumer Compelling and insightful, Spend Shift is essential reading for anyone interested in how values are changing and how businesses can connect with consumers after the recession.