Piketty, Marxian Political Economy, and the Law of the Falling Rate of Profit

2017 ◽  
Vol 48 (1-2) ◽  
pp. 146-152
Author(s):  
Tom Rockmore
Author(s):  
Dimitrios Kivotidis

This paper is a contribution to the argument that Engels’s work remains topical and may provide us with the analytical tools necessary to approach contemporary manifestations of capitalist contradictions. Based on Engels’s work on political economy (with emphasis on his contribution to the labour theory of value and the articulation of the law on the tendency of the rate of profit to fall) it will critically review the concept of “surveillance capitalism” as developed by Shoshana Zuboff, in order to explain central aspects of the process of digital surveillance. In particular, it will criticise the view expressed by Zuboff that surveillance capitalism constitutes a break with capitalism’s past and can be tamed through an enhancement of democratic accountability and regulation. Marxist contributions to the critique of digital surveillance have already approached this phenomenon in a many-sided manner. This paper builds upon these contributions and suggests that the exponential growth of digital platforms can be explained as a direct result of the development of capitalist contradictions, especially the contradiction between productive forces and relations of production as expressed in the law of the falling rate of profit.


2019 ◽  
Vol 49 (1) ◽  
pp. 163-203
Author(s):  
Nuno Miguel Cardoso Machado

Abstract Marx's theory of crisis is usually associated with the law of the tendential fall in the rate of profit presented in volume three of Capital. According to Marx, the rising organic composition of capital - the fact that variable capital grows in absolute terms, but falls relatively because of the faster growth of constant capital - results in the fall of the general rate of profit, which undermines the reproduction of capital. In this article I will argue that: i) there is a "first version" of Marx's theory of crisis, outlined especially in the Grundrisse, which ascribes the secular crisis of the capitalist economy to the absolute decline of living labour and, therefore, to the falling mass of socially produced surplus-value; ii) only this "first version" of the theory of crisis allows the absolute internal limit of capital to be deduced consistently.


Capital ◽  
2008 ◽  
Author(s):  
Karl Marx
Keyword(s):  
The Law ◽  

I. General We have seen in the first part of this book that the rate of profit expresses the rate of surplus-value always lower than it actually is. We have just seen that even a rising rate of surplus-value has a tendency to express itself...


2018 ◽  
Vol 43 (4) ◽  
Author(s):  
Rodrigo Finkelstein

Background This article addresses the question of productive labour in the information sector. Based on Marxian political economy, it provides a critical assessment of Dan Schiller’s (2007) arguments on productive and unproductive labour. Unproductive labour, it argues, is not something a) unnecessary, b) morally inferior, c) outside of a wage relationship, or d) unprofitable. Analysis Following an orthodox Marxian interpretation, this article claims that unproductive labour is a category that revolves exclusively around the concept of surplus value, and that this recognition is vital to understanding the type of labour that takes place in those businesses whose main commodity is information. Conclusions and implications  The article ends with a more sophisticated account of how to apply the category of productive labour to the information sector. Contexte  Cet article traite de la problématique du travail productif dans le secteur de l’information. Sur la base de l’économie politique marxiste, les arguments autour du travail productif et improductif de Dan Schiller ont été évalués de façon critique. Je soutiens que le travail improductif n’est pas quelque chose a) d’inutile b) ni moralement inferieur, c) ni exempt d’un rapport de salaire, d) ni lucratif. Analyse  Suivant une interprétation marxiste orthodoxe, je postule que le travail productif est une catégorie en rapport exclusivement avec la production de plus-value et cette reconnaissance est vitale pour comprendre les types de travaux qui se réalisent dans les secteurs où la principale marchandise est l’information. Conclusions et implications  Pour conclure j’apporte une explication plus sophistiquée pour appliquer la catégorie de travail productif au secteur de l’information.


2020 ◽  
pp. e1-e8
Author(s):  
Michael Harvey

The “political economy of health” is concerned with how political and economic domains interact and shape individual and population health outcomes. However, the term is variously defined in the public health, medical, and social science literatures. This could result in confusion about the term and its associated tradition, thereby constituting a barrier to its application in public health research and practice. To address these issues, I survey the political economy of health tradition, clarify its specifically Marxian theoretical legacy, and discuss its relevance to understanding and addressing public health issues. I conclude by discussing the benefits of employing critical theories of race and racism with Marxian political economy to better understand the roles of class exploitation and racial oppression in epidemiological patterning. (Am J Public Health. Published online ahead of print December 22, 2020:e1–e8. https://doi.org/10.2105/AJPH.2020.305996 )


Sign in / Sign up

Export Citation Format

Share Document