Revitalizing Marxist Theory for Today's Capitalism
Paul Zarembka, Radhika Desai
Emerald Group Publishing, Nov 7, 2011 - Political Science - 300 pages
As a few alert mainstream and corporate economists rediscover the certain elements of Marx's analysis of capitalism, the essays in the first part of this volume demonstrate that they have far to go. To their discredit, mainstream understandings whether of capitalism's growth or of Western capitalism's interrelated long-term stagnation and financialization are derailed precisely by political aversion to, or ignorance of, Marxist categories and analyses. The chapters in the second part extend Marxist insights into assessing the value of the so-called information, or knowledge-based, commodities, and offer a Marxist critique of Lenin, the only world leader who earlier had deeply studied his own country's economy. The part also presents two important works in translation. The first, read in Russian by Marx himself, raises serious questions about the relevance of Hegel in the understanding of Capital and offers its own insightful analysis. The other, by a Marxist collective in the 1970s demonstrates the centrality of politics and the class struggle in the simplistically conceived economic devalorization of constant capital. The final part contains a debate on the merits of positivist Marxism sparked by an article in Volume 26 of this research series.
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abstract agents aggregate analysis argued assets Bellofiore capitalist capitalist development commodity-producing labor competition complex composition of capital concept constant capital consumption contributed copy crises crisis critique demand determined devalorization dynamics economists endogenous growth theory equilibrium exchange-value external factors financial markets Freeman global growth rate human capital individual information commodities intellectual property rights interest rate interpretation investment Kang Keynesian knowledge labor knowledge production labor power labor-power Lenin mainstream marginal productivity Marx Marx’s Capital Marx’s theory Marxian Marxism means of production mechanical Minsky Mongiovi monopoly price approach neoclassical neoliberal output path perfect competition Political Economy problems production function R&D labor rate of profit relation rent rent seeking reproduction returns to scale revolution role Russia Second International Marxism sector significance Solowian surplus surplus-value technical progress tendency theoretical theory of value unproductive labor use-value value theory wage workers Zarembka