The Rate of Surplus Value in Brazil, 1996–2016

2021 ◽  
pp. 048661342198942
Author(s):  
Antonio Freitas
Keyword(s):  
Political Economy ◽  
Labor Productivity ◽  
Wage Rate ◽  
Jel Classification ◽  
Coup D'etat ◽  
Surplus Value ◽  
Classical Political Economy

This paper estimates the Brazilian economy’s rate of surplus value as well as its underlying determinants, i.e., wage rate and labor productivity between 1996 and 2016. In addition, it builds a theoretical narrative of the Brazilian economy that integrates its political successions, highlighting the governments of Fernando Henrique Cardoso (1995–2002), Luiz Inácio Lula da Silva (2003–2010), Dilma Rousseff (2011–August 2016), and the parliamentary coup d’état (December 2015–August 2016). The findings are presented based on the classical political economy tradition, which sees capital-labor struggle as a key, albeit nonexclusive, condition that frames the economic, political, and ideological disputes of society. JEL Classification: B51, E25, N16

scholarly journals Theory and Practice of Crisis in Political Economy: The Case of the Great Recession in Spain

2021 ◽  
pp. 048661342110272
Author(s):  
Juan Pablo Mateo
Keyword(s):  
Political Economy ◽  
Labor Market ◽  
Interest Rates ◽  
Great Recession ◽  
Jel Classification ◽  
Theory And Practice ◽  
Housing Bubble ◽  
Surplus Value ◽  
The Great Recession ◽  
Labor Market Rigidities

This paper addresses Marx’s theory of crisis in order to analyze the Great Recession in Spain, a peripheral economy within the Eurozone. It demonstrates that underlying the problem of the “housing bubble” is an incapacity to generate surplus value, which in turn explains certain particularities related to capital composition, productivity, wages, and finance. The article further carries out a critique of both orthodox and heterodox approaches that focus on (1) profit squeeze caused by labor market rigidities, (2) underconsumption due to stagnant wages, and (3) finances, interest rates, and indebtedness JEL classification: B14, E11, E20, E43, J30

Consumers Preferences, Subsistence and Real Wage

1993 ◽  
Author(s):  
D. Andrews
Keyword(s):  
Political Economy ◽  
Real Wage ◽  
Consumer Preference ◽  
Sharp Contrast ◽  
Index Number ◽  
Neoclassical Theory ◽  
The Real ◽  
Individual Consumer ◽  
Classical Political Economy

In classical political economy, the real wage derives its reality from its association with a given set of products that provides for the subsistence of workers through time. In neoclassical theory the connection between the real wage and a given set of products is broken, because the restriction of workers’ consumption to a particular set of products conflicts with the idea of individual consumer preference. Thus, the ‘reality’ of the real wage in neoclassical theory is grounded differently, in a particular standard of value that can be called an index number standard. The difficulties involved with this construction raise questions about the theoretical adequacy of the notion of real wage itself. In particular, this leads to a conclusion that stands in sharp contrast to the empiricist proclamations of neoclassical theory.

Review: Claudio Celis Bueno, The Attention Economy: Labour, Time and Power in Cognitive Capitalism

2018 ◽  
Vol 35 (7-8) ◽  
pp. 331-337
Author(s):  
Ben Turner
Keyword(s):  
Political Economy ◽  
Economic Systems ◽  
Unanswered Question ◽  
Surplus Value ◽  
The Core ◽  
Attention Economy ◽  
Core Concepts ◽  
Immanent Critique ◽  
Political Project ◽  
Labour Time

How should we conceptualise the turn to attention as a means of producing surplus value? Claudio Celis Bueno answers this question through a consideration of the attention economy in the context of a rethinking of Marxist political economy. Bueno accounts for the development of the economisation of attention through the concepts of value, labour and time, but also investigates how the shift to attention requires us to rethink the basis of these terms. Using the attention economy as an example, he develops a method of immanent critique which rejects a-historical understandings of labour, in order to show how the core concepts of Marxist political economy transform across different economic systems. Despite the clarity of this argument, Bueno opens an interesting but unanswered question as to how one transitions from this insight to a positive political project that may not be compatible with immanent critique.

The Right to Income

1993 ◽  
Author(s):  
D. Baker
Keyword(s):  
Political Economy ◽  
Policy Implications ◽  
Neoclassical Economics ◽  
Labor Theory ◽  
Classical Political Economy ◽  
The Individual ◽  
The Right ◽  
Similar Notion

This paper argues for a right to income based on a conception of the integrity of the individual. It first justifies the argument through the notion of social need developed by Hegel, contrasting that idea with the notion of subsistence in classical political economy and of needs and wants in the neoclassical economics. It then reexamines Locke’s labor theory of property and argues that its intuitive strength actually relies on a similar notion of individual integrity, not on labor pre se. The paper concludes by applying this notion of rightful acquisition of property to the situation of production by capital and explores some policy implications of a right to income.

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