The Logic of Capital

2021 ◽  
Author(s):  
Deepankar Basu

This book presents the main economic argument developed by Marx in the three volumes of Capital in a coherent and comprehensive manner. The first part presents the main economic argument contained in the Capital in a coherent and comprehensive manner. It also delves into three long-standing debates in Marxist political economy: the transformation problem, the Okishio theorem, and theories of exploitation and oppression. Starting with discussions of methodology, including dialectics and historical materialism, the book explains key concepts of Marxist political economy: commodity, value, money, capital, reserve army of labour, accumulation of capital, circuit of capital, reproduction schemas, prices of production, profit, interest and rent. Scholars of economics, sociology, geography, political science, anthropology, and other kindred disciplines, will find here an accessible yet rigorous treatment of Marxist political economy.

1988 ◽  
Vol 21 (4) ◽  
pp. 813-818 ◽  
Author(s):  
Leo Panitch

At the end of the 1970s, the corporatism growth industry in political science passed from its competitive stage (articles in journals) to its organized stage (articles collected in books). In the founding text of the new stage, Trends Towards Corporatist Intermediation, Philippe Schmitter explained that corporatism was not itself a theory capable of generating explanations and predictions. Rather, it was a phenomenon that had to be theorized within one of the major competing paradigms of social structure and social change, which he identified as those associated with Durkheimian and Parsonian “structural differentiation,” the historical materialism of Weberian and Marxist-revisionist “organized capitalism,” and the Marxist political economy tradition wherein he located the theories of the state popular at the time. Yet, it was perhaps inevitable, given the accumulation of academic capital associated with growth industries in the social sciences, that Schmitter's (and others') sound advice would be ignored and that grandiose claims would be made for corporatism as a theory in its own right.


2017 ◽  
Vol 47 (188) ◽  
pp. 453-470 ◽  
Author(s):  
Hans-Peter Büttner

While the majority of the scientific community holds Marxian Value and Price Theory to be internally inconsistent because of the so-called “transformation problem”, these claims can be sufficiently refuted. The key to the solution of the “transformation problem” is quite simple, so this contribution, because it requires the rejection of simultanism and physicalism, which represent the genuine method of neoclassical economics, a method that is completely incompatible with Marxian Critique of Political Economy. Outside of the iron cage of neoclassical equilibrium economics, Marxian ‘Capital’ can be reconstructed without neoclassical “pathologies” and offers us a whole new world of analytical tools for a critical theory of capitalist societies and its dynamics.


Jean-Jacques Rousseau and Adam Smith are two of the foremost thinkers of the European Enlightenment, thinkers who made seminal contributions to moral and political philosophy and who shaped some of the key concepts of modern political economy. Among Smith’s first published works was a letter to the Edinburgh Review where he discusses Rousseau’s Discourse on the Origin of Inequality. Smith continued to engage with Rousseau’s work and to explore many shared themes such as sympathy, political economy, sentiment, and inequality. This collection brings together an international and interdisciplinary group of Adam Smith and Rousseau scholars to provide an exploration of the key shared concerns of these two great thinkers in politics, philosophy, economics, history, and literature.


2011 ◽  
Vol 9 (3) ◽  
pp. 659-662 ◽  
Author(s):  
Brian Waddell

Jacob S. Hacker and Paul Pierson's Winner-Take-All Politics: How Washington Made the Rich Richer—And Turned Its Back on the Middle Class is both a work of political science and a contribution to broad public discussion of distributive politics. Its topic could not be more relevant to a US polity wracked by bitter partisan disagreements about taxes, social spending, financial regulation, social insecurity, and inequality. The political power of “the rich” is a theme of widespread public attention. The headline on the cover of the January–February 2011 issue of The American Interest—“Inequality and Democracy: Are Plutocrats Drowning Our Republic?”—is indicative. Francis Fukuyama's lead essay, entitled “Left Out,” clarifies that by “plutocracy,” the journal means “not just rule by the rich, but rule by and for the rich. We mean, in other words, a state of affairs in which the rich influence government in such a way as to protect and expand their own wealth and influence, often at the expense of others.” Fukuyama makes clear that he believes that this state of affairs obtains in the United States today.Readers of Perspectives on Politics will know that the topic has garnered increasing attention from political scientists in general and in our journal in particular. In March 2009, we featured a symposium on Larry Bartels's Unequal Democracy: The Political Economy of the New Gilded Age. And in December 2009, our lead article, by Jeffrey A. Winters and Benjamin I. Page, starkly posed the question “Oligarchy in the United States?” and answered it with an equally stark “yes.” Winner-Take-All Politics thus engages a broader scholarly discussion within US political science, at the same time that it both draws upon and echoes many “classic themes” of US political science from the work of Charles Beard and E. E. Schattschneider to Ted Lowi and Charles Lindblom.In this symposium, we have brought together a group of important scholars and commentators who offer a range of perspectives on the book and on the broader themes it engages. While most of our discussants are specialists on “American politics,” we have also sought out scholars beyond this subfield. Our charge to the discussants is to evaluate the book's central claims and evidence, with a focus on three related questions: 1) How compelling is its analysis of the “how” and “why” of recent US public policy and its “turn” in favor of “the rich” and against “the middle class”? 2) How compelling is its critique of the subfield of “American politics” for its focus on the voter–politician linkage and on “politics as spectacle” at the expense of an analysis of “politics as organized combat”? 3) And do you agree with its argument that recent changes in US politics necessitate a different, more comparative, and more political economy–centered approach to the study of US politics?—Jeffrey C. Isaac, Editor


Author(s):  
Etel Solingen

The explosion of research on regional economic institutions (REI) over the last two decades has led to a richer understanding of why they emerge, what form they take, and what effects they have. This chapter argues that research on REI is not a monopoly of any particular theoretical, methodological, or epistemological approach. Ongoing work leans not merely on standard political science and economics but on sociology, psychology, and critical theory. Yet, REI studies cluster in silos more often than barns, although this chapter highlights some research programs with potential for fostering barns. Exclusive attention to power, economic efficiency, transaction costs, and transnational normative diffusion—the common analytical currency in standard accounts of REI—may conceal deeper domestic drivers underlying REI dynamics.


Social Text ◽  
2020 ◽  
Vol 38 (4) ◽  
pp. 125-147
Author(s):  
Aren Z. Aizura ◽  
Marquis Bey ◽  
Toby Beauchamp ◽  
Treva Ellison ◽  
Jules Gill-Peterson ◽  
...  

This roundtable considers trans theory’s status as a site of thinking racialization, empire, political economy, and materiality in the current historical, institutional, and political moment. We ask, what does it mean to think trans in a time of crisis?, and what is the place of critique in a crisis?, acknowledging that global crises are not insulated from trans, and trans is not insulated from the world. This roundtable looks to materialist formations to think trans now, including a new materialism premised on thinking about trans embodiment outside of trans as subject position, the materialism of objects and commodities, and a historical materialism shaped by queer of color critique.


1982 ◽  
Vol 14 ◽  
pp. 57-69
Author(s):  
R. F. Atkinson

Historical materialism I take to be the view expressed in the well-known Preface to the Critique of Political Economy (1859) and exemplified in Capital and in many other writings by Marx and by Marxists. I shall begin with a few introductory remarks, next sketch in the theory, and finally contend that, despite real attractions, it too far limits the scope of legitimate historical enquiry to be ultimately acceptable.


2020 ◽  
Vol 12 (21) ◽  
pp. 9036 ◽  
Author(s):  
Dimitrios Zikos

The study of conflicts over natural resources is neither governed by a coherent set of theories nor limited by strict disciplinary boundaries. Rather, it encompasses a multitude of conceptions grounded within a wide array of disciplines and epistemological assumptions concerning the links between institutional change and conflicts, often concluding in contradictory propositions. This article aims at providing conceptual guidance for the special issue, by reviewing institutional research with a particular focus on institutional change and associated conflicts and drawing some implications from transformative settings. More specifically, the paper explores certain propositions and concepts utilised by institutional economists to explain why conflicts persist despite institutional reforms explicitly or implicitly introduced to resolve them. The author revisits diverse cases from different regions to investigate key concepts related to institutional change and its implications on environmental conflicts associated to transformations, complementing this view from a political science perspective. The paper concludes by offering an overview of factors identified as instrumental in understanding the institutional change and conflict–cooperation continuum.


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