Approaches to Neo-Marxist Synthesis in Political Economy [regarding the monograph by V.T. Ryazanov, «Modern Political Economy: Prospects for Neo-Marxist Synthesis»]

2019 ◽  
pp. 118-126
Author(s):  
V.M. Kulkov
Keyword(s):  
Economic Theory ◽  
Political Economy ◽  
Subject Field ◽  
The Public ◽  
Economic Problems ◽  
Classical Political Economy ◽  
Modern Capitalism ◽  
Scientific Potential ◽  
Modern Economic ◽  
Theoretical Developments

The article is a review of a new monograph by the famous Russian theoretician-economist V.T. Ryazanov, «Modern Political Economy: Prospects for Neo-Marxist Synthesis». The focus is on the possibilities and content of neo-Marxist synthesis in political economy. Its new subject field, reflecting major changes in modern capitalism, is revealed. The scientific potential of classical political economy and the accumulated theoretical developments of heterodox schools that oppose the mainstream in modern economic theory are also shown. All this taken together makes it possible to lay the foundations of neo-Marxist synthesis as a new version of Marxist political economy. The review reveals specific theoretical, methodological and concrete economic problems studied in the monograph, and some critical remarks are made. According to the reviewer, this monograph can be an important step in contributing to the full revival of political economy in the public, scientific and educational space.

“Capital” as the key to solving modern economic problems (Offline addition to the discussion on the revival of a special seminar on Karl Marx’s “Capital”)

2019 ◽  
pp. 142-150
Author(s):  
Alexandеr V. Buzgalin
Keyword(s):  
Political Economy ◽  
Educational Process ◽  
Capitalist System ◽  
Economic Problems ◽  
Modern Economy ◽  
Modern Economic ◽  
The Relationship

In the article prepared in connection with the discussion on the use of the Marxist political economy heritage and the revival of a special seminar on Marx’s “Capital”, the author shows the dialectic of the relationship between the content and the transformed forms of the modern capitalist system; the potential of “Capital” to understand the content of the modern economy, and the potential of economics to understand its forms. On this basis, the author shows which questions of our time are answered by Marxist methodology and theory, and which are not, and concludes that Marxist political economy has significant methodological potential to become an important component of the scientific and educational process in current conditions.

The Macroeconomic thought of Sir William Petty

2004 ◽  
Vol 26 (3) ◽  
pp. 401-413 ◽  
Author(s):  
James H. Ullmer
Keyword(s):  
Economic Theory ◽  
Political Economy ◽  
Karl Marx ◽  
Adam Smith ◽  
Economic Thought ◽  
Total Employment ◽  
Classical Political Economy ◽  
Surplus Labour ◽  
P 16

Sir William Petty (1623–1687) is generally known to historians of economic thought as an early contributor to classical political economy. In fact, Karl Marx claimed—rightly, I believe—that Petty was the founder of that school of thought (Marx 1867, p. 81). Frank Amati and Tony Aspromourgos echo the sentiment that Petty, and not Adam Smith, was “the founder of classical political economy, that school which had its culmination in the Ricardian economic theory” (Amati and Aspromourgos 1985, p. 127). Aspromourgos has also observed that Petty wrote A Treatise of Taxes and Contributions, as well as other works, in order to provide “an answer to the questions of how to maximize total employment and surplus labour, and how to best utilize surplus labour” (Aspromourgos 1996, p. 16, emphasis added).

Scarcity in the Theories of Value

2021 ◽  
pp. 001946622110172
Author(s):  
Antonella Palumbo
Keyword(s):  
Political Economy ◽  
General Equilibrium ◽  
Crucial Role ◽  
Neoclassical Economics ◽  
Historical Reconstruction ◽  
Demand And Supply ◽  
Classical Political Economy ◽  
Jel Code ◽  
Formal Properties ◽  
Theoretical Developments

Building on Krishna Bharadwaj’s analysis of the differences between neoclassical economics and classical political economy and her careful historical reconstruction of the process that culminated in the birth of the former, this article focuses on the characterisation of neoclassical theories as ‘scarcity’ theories of value. The article intends, in the first place, to analyse the relation that neoclassical theories bear to earlier theoretical developments, particularly the earlier conception of value based on the demand-and-supply interaction, in which the notion of scarcity played a crucial role, a conception entertained both by pre-classical authors and contemporaries of Ricardo. In the second place, it aims to show that the scarcity conception of value is at the root of some basic inconsistencies of the neoclassical approach. Attention will thus be devoted to a particular expression of the latter, the so-called Walras–Cassel system of general equilibrium, and to the discussions that took place in the 1930s on the properties of such system—afterwards culminating in the Vienna debate over the formal properties of the system—in which the limitations of the scarcity conception of value were clearly addressed. JEL Code: B12, B13, D51

scholarly journals INTEGRAL SOCIETY: CONTRADICTIONS AND PERSPECTIVES (IN THE MEMORY OF G.N. TSAGOLOV)

2020 ◽  
Vol 225 (5) ◽  
pp. 126-137
Author(s):  
BUZGALIN ALEKSANDER V. ◽  
◽  
KOLGANOV ANDREY I. ◽  
Keyword(s):  
Economic Theory ◽  
Political Economy ◽  
Economic Development ◽  
Economic System ◽  
Social System ◽  
Real Socialism ◽  
Production Relations ◽  
Basic Production ◽  
The University ◽  
Theoretical Developments

The article describes G.N. Tsagolov’s contribution to the development of political and economic theory, first of all, the theory of that new social system which, according to the scientist and his colleagues, should replace capitalism and “real socialism” — “integrated society”. It seems that G.N. Tsagolov’s theoretical developments were based on the methodology of the University School of Political Economy, which distinguished its initial and basic production relations in each system. The nature of Russian social and economic system as oligarchic and bureaucratic capitalism is revealed and the works in which G.N. Tsagolov showed the progressiveness of Chinese, Vietnamese and similar models of economic development are distinguished.

scholarly journals Scientific approaches to the economic category «public sector efficiency»

2020 ◽  
Vol 12 (2) ◽  
Author(s):  
Irina Gersonskaya
Keyword(s):  
Economic Theory ◽  
Public Sector ◽  
National Economy ◽  
The Public ◽  
Classical Political Economy ◽  
Scientific World ◽  
The Social ◽  
Points Of View ◽  
Public Sector Efficiency ◽  
State Organizations

The article investigates scientific approaches to the category of «public sector efficiency» that have been formed in foreign and domestic economic theory. The author substantiates the necessity of functioning of the public sector system of the national economy and evaluating the effectiveness of its activities. The author considers the first points of view in the scientific world of the physiocrat F. Kene, as well as representatives of the school of classical political economy W. Petty and D. Ricardo in determining the performance of government structures. We study the works of the founders of the concepts of effective functioning of activities in the market economy, including state organizations, such as V. Pareto, A. Pigou, J.M. Keynes, P.F. Drucker, and others. Modern concepts of the efficiency of the public sector of the economy in Western economic theory, developed by P.E. Samuelson, W.D. Nordhouse, R.A. Musgrave, J.E. Stiglitz, N.G. Mankyu, K.R. Mcconnell, and others. Analyzes the scientific approaches to evaluating the effectiveness of the public sector in the national economy domestic scientists-economists such as E.V. Balatsky, O.A. Kokorina, T.D. Romashchenko, Yu.I. Treschevsky, V.V. Lukyanova, O.V. Rudakova, E.M. Samorodova, A.V. Revkuts, S.R. Muravyov, etc. On the basis of analysis of scientific works the author has selected a targeted, cost management and production approaches to the evaluation of the effectiveness of the public sector. In the course of the study, it was concluded that evaluating the performance of the public sector of the national economy based on only two aspects is not appropriate, since it does not fully reflect the activities of all structural components of the public sector. The author believes that the structure of the public sector of the economy includes three main, specific and quite independent elements-management structures, state corporations and the «social sector of the state». Therefore, it is advisable to conduct a study of the efficiency of activity of the public sector of the national economy using a three-component indicator that reflects all areas of activity and aspects of its functioning.

scholarly journals Evolution of The Functions of Money in The Context of The Approaches of Various Schools of Economic Thought

2021 ◽  
Vol 12 (2) ◽  
pp. 036-049
Author(s):  
Igor M. Shiriaev ◽  
◽  
Daria S. Zakharova ◽  
Keyword(s):  
Economic Theory ◽  
Political Economy ◽  
Comparative Analysis ◽  
Economic Thought ◽  
Monetary Theory ◽  
Theoretical Approaches ◽  
Classical Political Economy ◽  
Different Types ◽  
Neoclassical Economic Theory ◽  
Definition Of

The purpose of this paper is the identification of the functions of money and characteristic of their evolution through change of the used types of money. Research methods are a brief overview and comparative analysis of economic-theoretical approaches to the definition of the functions of money. A comparative analysis of the classifications of the functions of money, made by physiocracy, classical political economy, Marxist political economy, Austrian school of economic theory, German historical school of economics, neoclassical economic theory, Keynesianism, monetarism, institutionalism, modern monetary theory, is carried out. It is shown that various economic schools have different approaches to the definition of the functions of money. Some scientific schools separate money functions for basic and secondary, but other schools consider that all the functions are equally significant. It is concluded that modern changes in the types of money used lead to the fact that different functions of money (in particular, the functions of medium of exchange, measure of value, reserve of value, means of payment) are most effectively implemented by different types of money. Scientific novelty consists in the reconstruction and comparison of lists of functions of money identified by the most important schools of economic theory. The conclusions of the research can be used in scientific and pedagogical activities in the study of the essence and functions of money.

Krishna Bharadwaj on the Role of Expectations in Economic Theory

2021 ◽  
pp. 001946622110198
Author(s):  
Maria Cristina Marcuzzo
Keyword(s):  
Economic Theory ◽  
Political Economy ◽  
Explanatory Role ◽  
Neoclassical Theory ◽  
Jel Codes ◽  
Expectation Formation ◽  
Long Period ◽  
Classical Political Economy ◽  
What Matters

In this article, I discuss the approach favoured by Bharadwaj, in the tradition of classical political economy and of Sraffa, where the focus is on those factors that are observed as opposed to the subjective factors that are neither observable nor measurable. Unlike neoclassical theory, with this approach, there is no room for concepts such as ‘utility’ and the like; insofar as ‘expectations’ are conceived as subjective, non-observable entities, they are not attributed with an explanatory role in the theory of prices and distribution. Moreover, since expectation formation is seen as the effect rather than cause of behaviour, the focus shifts to those social, historical and contingent elements that seem to have a better explanatory force. In this approach, what matters is the persistence of forces leading the system to tend, in the long period, towards a position of rest. JEL Codes: B2, B31

Heuristic Potential of Political Economy of Socialism in the 21st Century

2003 ◽  
pp. 112-124 ◽  
Author(s):  
A. Buzgalin
Keyword(s):  
Economic Theory ◽  
Political Economy ◽  
Economic System ◽  
21St Century ◽  
Transitional Economy ◽  
Industrial Society ◽  
Economic Systems ◽  
Real Socialism ◽  
Modern Economic ◽  
Post Industrial

The author tries to distinguish the main achievements of political economy of socialism, its contribution to modern economic theory and potential in analysis of post-industrial society. To his opinion political economy of socialism is useful for understanding the nature of "real socialism" (i.e. economic system that was really functioning in the USSR and socialist countries), future post-capitalist economic systems and transitional economy. Moreover, this discipline can be helpful in overcoming the market-oriented paradigm dominating now in economic theory.

Organisation informelle et identité : de la théorie des organisations à l’économie politique de l’entreprise

2016 ◽  
Vol 55 (2) ◽  
pp. 189-207
Author(s):  
Virgile Chassagnon ◽  
Bernard Baudry
Keyword(s):  
Economic Theory ◽  
Political Economy ◽  
Social Identity ◽  
Theory Of The Firm ◽  
Political Economics ◽  
The Political ◽  
Economic Theories ◽  
Research Questions ◽  
Classical Economic ◽  
Theoretical Developments

In this paper the authors defend the idea according to which the economic theories of the firm could be astutely enriched by specific theoretical developments of organization theories. In this view, they focus on two crucial research questions for the political economics of the firm: (1) the informal organization of the firm; and (2) social identity in the firm. This analysis allows to show the strong limitations of classical economic theory of the firm and to contribute to the reworking of a political economy of the firm.

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