scholarly journals Magnitudes in Badiouʼs Objective Phenomenology and Economic Consumer Choice

2021 ◽  
Vol 42 (1) ◽  
Author(s):  
Uroš Kranjc
Keyword(s):  
Economic Theory ◽  
Political Economy ◽  
Consumer Choice ◽  
Consumer Preferences ◽  
Synthetic Approach ◽  
Basic Principles ◽  
New Model ◽  
Economic Framework ◽  
Classical Political Economy ◽  
Economic Thinking

The young Marx once remarked that political economy finds itself in an estranged form and is therefore in desperate need of a critical reconstruction of its object [Gegenstand]. He proposed a complete deconstruction of economic objectivity and its categories, hoping to recover the true species-life of man. In the article, we assert that contemporary economic theory remains confined by this estrangement, despite managing to ‘revolutionize’ itself out of the grip of classical political economy. The subjectivist-marginalist reliance on ‘measurable’ consumer preferences not only solidified the discipline’s estrangement, but also wrested away any remaining basic principles of economics through neoclassical reconceptualization. A break with estrangement would require novel critical economic thinking that would do away with the discontinuity between classical and neoclassical (contemporary) economics. It would therefore need a rich enough framework to scrutinize its principal categories. We argue that Alain Badiou’s objective phenomenology possesses a complementary synchronic structure able to conform to basic economic tenets, allowing for a comparative and synthetic approach. This would then be the basis for a new model of economic theorizing. We conclude the article with Marx’s value form, seeing it as a possible central category of a newly proposed economic framework.

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).

scholarly journals The political economy of sharing

2021 ◽  
Vol 307 ◽  
pp. 01001
Author(s):  
Evgenii Bogomolov ◽  
Olga Orusova ◽  
Maria Ekaterinovskaya
Keyword(s):  
Economic Theory ◽  
Political Economy ◽  
Sharing Economy ◽  
The Political ◽  
Short Term ◽  
New Model ◽  
Goods And Services ◽  
Property Relations ◽  
New Variant ◽  
System Adaptation

The widespread adoption of a new model of economy – the economy of shared consumption (public services for short-term rental of bicycles, cars, apartments, houses, other goods and services) – has raised many questions for the economic theory. What is a shared economy? What are the reasons for its appearance in different countries? How does it change property relations? What is its future? The answers to these questions are considered using the publications of Russian and foreign scientists. The authors conclude that sharing economy is just a new variant of capital system adaptation.

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

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.

Nikolay Sieber in the history of prerevolutionary Russian economic thought

2018 ◽  
pp. 95-110
Author(s):  
L. D. Shirokorad
Keyword(s):  
Economic Theory ◽  
Political Economy ◽  
Organic Synthesis ◽  
Marginal Utility ◽  
Economic Thought ◽  
History Of ◽  
Three Stages

This article shows how representatives of various theoretical currents in economics at different times in history interpreted the efforts of Nikolay Sieber in defending and developing Marxian economic theory and assessed his legacy and role in forming the Marxist school in Russian political economy. The article defines three stages in this process: publication of Sieber’s work dedicated to the analysis of the first volume of Marx’s Das Kapital and criticism of it by Russian opponents of Marxian economic theory; assessment of Sieber’s work by the narodniks, “Legal Marxists”, Georgiy Plekhanov, and Vladimir Lenin; the decline in interest in Sieber in light of the growing tendency towards an “organic synthesis” of the theory of marginal utility and the Marxist social viewpoint.

Jean Tirole: The political economy of corporate finance (On the book by J. Tirole “The theory of corporate finance”)

2017 ◽  
pp. 128-141
Author(s):  
N. Ranneva
Keyword(s):  
Economic Theory ◽  
Political Economy ◽  
Graduate Students ◽  
Corporate Finance ◽  
Critical Review ◽  
The Political ◽  
Institutional Economic ◽  
New Type ◽  
Finance Theory ◽  
Empirical Material

The present article undertakes a critical review of the new book of Jean Tirole, the winner of the 2014 Nobel Prize in Economics, “The theory of cor- porate finance”, which has recently been published in Russian. The book makes a real contribution to the profession by summarizing the whole field of corporate finance and bringing together a big body of research developed over the last thirty years. By simplifying modeling, using unified analytical apparatus, undertaking reinterpretation of many previously received results, and structuring the material in original way Tirole achieves a necessary unity and simplicity in exposition of extremely heterogeneous theoretical and empirical material. The book integrates the new institutional economic theory into classical corporate finance theory and by doing so contributes to making a new type of textbook, which is quite on time and is likely to become essential reading for all graduate students in corporate finance and microeconomics and for everyone interested in these disciplines.

Political Economy of Post-Soviet Marxism (Theses to Forming of Scientific School)

2005 ◽  
pp. 36-55 ◽  
Author(s):  
A. Buzgalin ◽  
A. Kolganov
Keyword(s):  
Economic Theory ◽  
Political Economy ◽  
Transition Economies ◽  
Alternative Schools ◽  
Scientific School ◽  
Theoretical Concepts ◽  
Limited Ability ◽  
Socialist System ◽  
Soviet Marxism ◽  
Modern Russian

The limited ability of neoclassical "mainstream" to explain deep fundamental shifts in economic structures of the present day world determines the renaissance of alternative schools of economic theory, including Marxism. The article is aimed to show theoretical concepts of modern Russian neomarxism, which has a potential to explain the contradictions of the capitalist globalization, the tendencies of forming new types of socioeconomic relations, of the specific forms of transition economies in the post-socialist countries and basic causes of the birth and collapse of the socialist system.

Essays of a “comparatively progressive” economist (On the 150th birth anniversary of Vladimir Geleznoff)

2019 ◽  
pp. 135-145
Author(s):  
Viktor A. Popov
Keyword(s):  
Economic Theory ◽  
Political Economy ◽  
Economic Thought ◽  
History Of Economic Thought ◽  
The Political ◽  
Russian History ◽  
Working Ability ◽  
Intellectual Inquiry ◽  
History Of

Deep comprehension of the advanced economic theory, the talent of lecturer enforced by the outstanding working ability forwarded Vladimir Geleznoff scarcely at the end of his thirties to prepare the publication of “The essays of the political economy” (1898). The subsequent publishing success (8 editions in Russia, the 1918­-year edition in Germany) sufficiently demonstrates that Geleznoff well succeded in meeting the intellectual inquiry of the cross­road epoch of the Russian history and by that taking the worthful place in the history of economic thought in Russia. Being an acknowledged historian of science V. Geleznoff was the first and up to now one of the few to demonstrate the worldwide community of economists the theoretically saturated view of Russian economic thought in its most fruitful period (end of XIX — first quarter of XX century).

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