Classical Political Economics And Modern Capitalism

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Classical Political Economics and Modern Capitalism

Lefteris Tsoulfidis,Persefoni Tsaliki
Classical Political Economics and Modern Capitalism Book PDF

Author : Lefteris Tsoulfidis,Persefoni Tsaliki
Publisher : Springer Nature
Page : 465 pages
File Size : 49,7 Mb
Release : 2019-09-05
Category : Political Science
ISBN : 9783030179670

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Classical Political Economics and Modern Capitalism by Lefteris Tsoulfidis,Persefoni Tsaliki Pdf

This book promotes an in-depth understanding of the key mechanisms that govern the functioning of capitalist economies, pursuing a Classical Political Economics approach to do so. It explores central theoretical issues addressed by the classical economists Smith and Ricardo, as well as Marx, while also operationalizing more recent theoretical developments inspired by the works of Sraffa and other modern classical economists, using actual data from major economies. On the basis of this approach, the book subsequently provides alternative explanations for various microeconomic issues such as the determination of equilibrium prices and their movement induced by changes in income distribution; the dynamics of competition of firms within and between industries; the law of tendential equalization of interindustry profit rates; and international exchanges and transfers of value; as well as macroeconomic issues concerning capital accumulation and cyclical economic growth. Given its scope, the book will benefit all researchers, students, and policymakers seeking new explanations for observed phenomena and interested in the mechanisms that give rise to surface economic categories, such as prices, profits, the unemployment rate, interest rates, and long economic cycles.

Capital Theory and Political Economy

Lefteris Tsoulfidis
Capital Theory and Political Economy Book PDF

Author : Lefteris Tsoulfidis
Publisher : Routledge
Page : 239 pages
File Size : 46,8 Mb
Release : 2021-05-31
Category : Business & Economics
ISBN : 9781351239400

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Capital Theory and Political Economy by Lefteris Tsoulfidis Pdf

In recent years, there have been a number of new developments in what came to be known as the "Capital Theory Debates". The debates took place mainly during the 1960s as a result of Piero Sraffa's critique of the neoclassical theory according to which the prices of factors of production directly depend on their relative scarcities. Sraffa showed that when income distribution changes, there are many complexities developed within the economic system impacting on prices in ways which are not possible to predict. These debates were revisited in the 1980s and again more recently, along with a parallel literature that has developed among neoclassical economists and has also looked at the impact of shocks on an economy. This book summarizes the debates and issues around the theory of capital and brings to the fore the more recent developments. It also pinpoints the similarities and differences between the various approaches and critically evaluates them in light of available empirical evidence. The focus of the book is on the price trajectories induced by changes in income distribution and the resulting shape of the wage rates of profit curves and frontier. These issues are central to areas such as microeconomics, international trade, growth, technological change and macro stability analysis. Each chapter starts with the theoretical issues involved, followed by their formalization and subsequently with their operationalization. More specifically, the variables of the classical theory of value and distribution are rigorously defined and quantified using actual input–output data from a number of major economies, but mainly from the USA, over long stretches of time. The empirical results are not only consistent with the anticipations of the theory but also further inform and therefore strengthen its predictive content raising new significant questions.

Classical Political Economy and Modern Theory

Neri Salvadori,Christian Gehrke,Ian Steedman,Richard Sturn
Classical Political Economy and Modern Theory Book PDF

Author : Neri Salvadori,Christian Gehrke,Ian Steedman,Richard Sturn
Publisher : Routledge
Page : 417 pages
File Size : 48,9 Mb
Release : 2013-06-17
Category : Business & Economics
ISBN : 9781136639418

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Classical Political Economy and Modern Theory by Neri Salvadori,Christian Gehrke,Ian Steedman,Richard Sturn Pdf

Heinz Kurz is recognised internationally as a leading economic theorist and a foremost historian of economic thought. This book pays tribute to his outstanding contributions by bringing together a unique collection of new essays by distinguished economists from around the world. Classical Political Economy and Modern Theory comprises twenty essays, grouped thematically into five sections. Part I examines political economy and its critique, Part II looks at entrepreneurship, evolution and income distribution, Part III discusses Cambridge, Keynes and macroeconomics, Part IV explores crisis and cycles, whilst Part V is dedicated to personal reminiscences. The essays in this book will be an invaluable source of inspiration for economists interested in economic theory and in the evolution of economic thought. They will also be of interest to postgraduate and research students specialising in economic theory and in the history of economic thought.

Modern Capitalism

Paul M. Sweezy
Modern Capitalism Book PDF

Author : Paul M. Sweezy
Publisher : NYU Press
Page : 195 pages
File Size : 51,7 Mb
Release : 1972
Category : Business & Economics
ISBN : 9780853452164

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Modern Capitalism by Paul M. Sweezy Pdf

Few contributions to the understanding of modern capitalism and its mode of operation and evolution have been more important than those made by Paul Sweezy. The essays in this volume continue and deepen his work of interpretation found in The Theory of Capitalist Development, Monopoly Capital, and The Present as History.

Capitalism Versus Anti-Capitalism

Paul Fabra
Capitalism Versus Anti Capitalism Book PDF

Author : Paul Fabra
Publisher : Transaction Publishers
Page : 386 pages
File Size : 40,7 Mb
Release : 1993-01-01
Category : Business & Economics
ISBN : 1412819121

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Capitalism Versus Anti-Capitalism by Paul Fabra Pdf

Fabra's central thesis is that economics will not get out of the blind alley in which it has led itself--and everyone else--until it undertakes an epi-stemological inquiry into the sources of its biases. This book is concerned then with the most general structural problems that confront the economist. Covering every major theme of modern economics: from the "labor market" to the "gold standard," Fabra aims to show that the classical theories of Ricardo prevail over the more recent doctrines of both Marx and Keynes. He turns every major premise of economics on its head--starting with the reality of money and ending with the abolition of wage labor as a triumph of capitalism and market forces.

The Invention of Capitalism

Michael Perelman
The Invention of Capitalism Book PDF

Author : Michael Perelman
Publisher : Duke University Press
Page : 428 pages
File Size : 46,9 Mb
Release : 2000-05-03
Category : Business & Economics
ISBN : 0822324911

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The Invention of Capitalism by Michael Perelman Pdf

DIVRethinks the history of classical political economy by assessing the Marxian idea of “primitive accumulation,” the process by which a propertyless working class is created./div

Political Economy and the Rise of Capitalism

David McNally
Political Economy and the Rise of Capitalism Book PDF

Author : David McNally
Publisher : University of California Press
Page : 348 pages
File Size : 51,6 Mb
Release : 2018-09-04
Category : History
ISBN : 9780520303317

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Political Economy and the Rise of Capitalism by David McNally Pdf

From the Introduction: This book challenges the conventional wisdom about classical political economy and the rise of capitalism. It is written in the conviction that modern interpretations of political economy have suffered terribly from acceptance of the prevailing liberal view of the origins and development of capitalist society. By the liberal account, capitalism emerged out of the centuries-old competitive activities of merchants and manufacturers in rational pursuit of their individual economic self-interest. Over time, this account claims, the persistent activity of these classes developed new forms of wealth and productive resources and new intellectual and cultural habits, which eroded the existing structure of society. The rise of capitalism is thus explained in terms of the rise to prominence of the most productive, rational, and progressive social groups—merchants and manufacturers. Not surprisingly, classical political economy came to be seen as an intellectual reflection of the ascendance of merchants and manufacturers and as a theoretical justification of their interests and activities. This book argues that capitalism was the product of an immense transformation in the social relationships of landed society and that this fact is crucial to understanding the development of classical political economy. Without a radical transformation of the agrarian economy, the activities of merchants and manufacturers would have remained strictly confined. By no inexorable logic of their own were mercantile and industrial activities capable of fundamentally transforming the essential relations of precapitalist society. Rather, the changes in agrarian economy, which drove rural producers from their land, forced them onto the labour market as wage labourers for their means of subsistence, and refashioned farming as an economic activity based upon the production of agricultural commodities for profit on the market, established the essential relations of modern capitalism. In what follows, these processes are described in terms of the emergence of agrarian capitalism. This title is part of UC Press's Voices Revived program, which commemorates University of California Press’s mission to seek out and cultivate the brightest minds and give them voice, reach, and impact. Drawing on a backlist dating to 1893, Voices Revived makes high-quality, peer-reviewed scholarship accessible once again using print-on-demand technology. This title was originally published in 1988.

Modern Political Economics

Yanis Varoufakis,Joseph Halevi,Nicholas Theocarakis
Modern Political Economics Book PDF

Author : Yanis Varoufakis,Joseph Halevi,Nicholas Theocarakis
Publisher : Routledge
Page : 543 pages
File Size : 54,5 Mb
Release : 2012-03-29
Category : Business & Economics
ISBN : 9781136814747

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Modern Political Economics by Yanis Varoufakis,Joseph Halevi,Nicholas Theocarakis Pdf

Once in a while the world astonishes itself. Anxious incredulity replaces intellectual torpor and a puzzled public strains its antennae in every possible direction, desperately seeking explanations for the causes and nature of what just hit it. 2008 was such a moment. Not only did the financial system collapse, and send the real economy into a tailspin, but it also revealed the great gulf separating economics from a very real capitalism. Modern Political Economics has a single aim: To help readers make sense of how 2008 came about and what the post-2008 world has in store. The book is divided into two parts. The first part delves into every major economic theory, from Aristotle to the present, with a determination to discover clues of what went wrong in 2008. The main finding is that all economic theory is inherently flawed. Any system of ideas whose purpose is to describe capitalism in mathematical or engineering terms leads to inevitable logical inconsistency; an inherent error that stands between us and a decent grasp of capitalist reality. The only scientific truth about capitalism is its radical indeterminacy, a condition which makes it impossible to use science's tools (e.g. calculus and statistics) to second-guess it. The second part casts an attentive eye on the post-war era; on the breeding ground of the Crash of 2008. It distinguishes between two major post-war phases: The Global Plan (1947-1971) and the Global Minotaur (1971-2008). This dynamic new book delves into every major economic theory and maps out meticulously the trajectory that global capitalism followed from post-war almost centrally planned stability, to designed disintegration in the 1970s, to an intentional magnification of unsustainable imbalances in the 1980s and, finally, to the most spectacular privatisation of money in the 1990s and beyond. Modern Political Economics is essential reading for Economics students and anyone seeking a better understanding of the 2008 economic crash.

A Historical Political Economy of Capitalism

Andrea Micocci
A Historical Political Economy of Capitalism Book PDF

Author : Andrea Micocci
Publisher : Routledge
Page : 212 pages
File Size : 46,6 Mb
Release : 2016-05-26
Category : Business & Economics
ISBN : 9781317273301

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A Historical Political Economy of Capitalism by Andrea Micocci Pdf

In order to understand the resilience of capitalism as a mode of production, social organization, and an intellectual system, it is necessary to explore its intellectual development and underlying structure. A Historical Political Economy of Capitalism argues that capitalism is based on a dominant intellectuality: a metaphysics. It proposes the construction of a history-based 'critique of political economy', capable of revealing the poverty of capitalism's intellectual logic and of its application in practice. This involves a reconsideration of several classical thinkers, including Smith, Marx, Berkeley, Locke, Hobbes, Hume and Rousseau. It also sketches an emancipative methodology of analysis, aiming to expose any metaphysics, capitalist or none. In doing so, this book proposes a completely new approach in materialist philosophy. The new methodology in political economy that is proposed in this volume is an alternative way to organize a materialist approach. Some basic aspects of what is argued by the author can be found in Marx. This book is well suited for those who study political economy and economic theory and philosophy, as well as those who are interested in Marxism.

Savage Economics

David L. Blaney,Naeem Inayatullah
Savage Economics Book PDF

Author : David L. Blaney,Naeem Inayatullah
Publisher : Routledge
Page : 248 pages
File Size : 43,5 Mb
Release : 2010-01-04
Category : Political Science
ISBN : 9781135265038

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Savage Economics by David L. Blaney,Naeem Inayatullah Pdf

This innovative book challenges the most powerful and pervasive ideas concerning political economy, international relations, and ethics in the modern world. Rereading classical authors including Adam Smith, James Steuart, Adam Ferguson, Hegel, and Marx, it provides a systematic and fundamental cultural critique of political economy and critically describes the nature of the mainstream understanding of economics. Blaney and Inayatullah construct a powerful argument about how political economy and the capitalist market economy should be understood, demonstrating that poverty is a product of capitalism itself. They address the questions: Is wealth for some bought at the cost of impoverishing, colonizing, or eradicating others? What benefits of wealth might justify these human costs? What do we gain and lose by endorsing a system of wealth creation? Do even "savage cultures" contain values, critiques, and ways of life that the West still needs? Opening the way for radically different policies addressing poverty and demanding a rethink of the connections between political economy and international relations, this thought-provoking book is vital reading for students and scholars of politics, economics, IPE and international relations.

Classical Economic Theory and the Modern Economy

Steven Kates
Classical Economic Theory and the Modern Economy Book PDF

Author : Steven Kates
Publisher : Edward Elgar Publishing
Page : 264 pages
File Size : 48,6 Mb
Release : 2020-06-26
Category : Business & Economics
ISBN : 9781786433572

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Classical Economic Theory and the Modern Economy by Steven Kates Pdf

Economic theory reached its zenith of analytical power and depth of understanding in the middle of the nineteenth century among John Stuart Mill and his contemporaries. This book explains what took place in the ensuing Marginal Revolution and Keynesian Revolution that left economists less able to understand how economies operate. It explores the false mythology that has obscured the arguments of classical economists, providing a pathway into the theory they developed.

Classical Political Economy

William O. Thweatt
Classical Political Economy Book PDF

Author : William O. Thweatt
Publisher : Springer Science & Business Media
Page : 281 pages
File Size : 40,9 Mb
Release : 2013-03-09
Category : Business & Economics
ISBN : 9789401577823

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Classical Political Economy by William O. Thweatt Pdf

William O. Thweatt This book is the second in three surveys of the literature in the history of economic thought in the Kluwer Recent Economic Thought series. The first book, covering the pre-classical literature, has already been published; a third, on the neo-c1assical period, is planned for 1988. This middle book surveys the writings on classical political economy for the past 30 years, or roughly since the publication of Joseph Schumpeter's 1954 monumental History of Economic Analysis. Shortly after World War II, the American Economic Association spon sored a Survey of Contemporary Economics [1949]. That work covered 13 subdisciples of economics, and in 1952 a companion piece appeared in which surveys of 10 additional subdisciples were presented. As Bernard Haley, editor of the second volume, stated, even "though in the two volumes twenty-three fields have been treated ... there remain some aspects of the subject ... that have not been reviewed" [Haley, 1952, p. v].

From Political Economy to Economics

Dimitris Milonakis,Ben Fine
From Political Economy to Economics Book PDF

Author : Dimitris Milonakis,Ben Fine
Publisher : Routledge
Page : 387 pages
File Size : 51,7 Mb
Release : 2009-01-13
Category : Business & Economics
ISBN : 9781134099443

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From Political Economy to Economics by Dimitris Milonakis,Ben Fine Pdf

Economics has become a monolithic science, variously described as formalistic and autistic with neoclassical orthodoxy reigning supreme. So argue Dimitris Milonakis and Ben Fine in this new major work of critical recollection. The authors show how economics was once rich, diverse, multidimensional and pluralistic, and unravel the processes that lead to orthodoxy’s current predicament. The book details how political economy became economics through the desocialisation and the dehistoricisation of the dismal science, accompanied by the separation of economics from the other social sciences, especially economic history and sociology. It is argued that recent attempts from within economics to address the social and the historical have failed to acknowledge long standing debates amongst economists, historians and other social scientists. This has resulted in an impoverished historical and social content within mainstream economics. The book ranges over the shifting role of the historical and the social in economic theory, the shifting boundaries between the economic and the non-economic, all within a methodological context. Schools of thought and individuals, that have been neglected or marginalised, are treated in full, including classical political economy and Marx, the German and British historical schools, American institutionalism, Weber and Schumpeter and their programme of Socialökonomik, and the Austrian school. At the same time, developments within the mainstream tradition from marginalism through Marshall and Keynes to general equilibrium theory are also scrutinised, and the clashes between the various camps from the famous Methodenstreit to the fierce debates of the 1930s and beyond brought to the fore. The prime rationale underpinning this account drawn from the past is to put the case for political economy back on the agenda. This is done by treating economics as a social science once again, rather than as a positive science, as has been the inclination since the time of Jevons and Walras. It involves transcending the boundaries of the social sciences, but in a particular way that is in exactly the opposite direction now being taken by "economics imperialism". Drawing on the rich traditions of the past, the reintroduction and full incorporation of the social and the historical into the main corpus of political economy will be possible in the future.

Economic Sociology

Carlo Trigilia
Economic Sociology Book PDF

Author : Carlo Trigilia
Publisher : John Wiley & Sons
Page : 304 pages
File Size : 42,7 Mb
Release : 2008-04-15
Category : Social Science
ISBN : 9780470692851

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Economic Sociology by Carlo Trigilia Pdf

This book systematically reconstructs the origins and new advances in economic sociology. By presenting both classical and contemporary theory and research, the volume identifies and describes the continuity between past and present, and the move from economics to economic sociology. Most comprehensive and up-to-date overview available by an internationally renowned, award-winning economic sociologist Systematically reconstructs the origins and new advances in economic sociology Organizes the perspectives and methods of economic sociologists of the classical and contemporary eras, including coverage of modernization, globalization, and the welfare state Provides insights into the social consequences of capitalism in the past and present for students of economic sociology.

Capitalism

Anwar Shaikh
Capitalism Book PDF

Author : Anwar Shaikh
Publisher : Oxford University Press
Page : 896 pages
File Size : 50,8 Mb
Release : 2016-01-15
Category : Business & Economics
ISBN : 9780199390656

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Capitalism by Anwar Shaikh Pdf

Orthodox economics operates within a hypothesized world of perfect competition in which perfect consumers and firms act to bring about supposedly optimal outcomes. The discrepancies between this model and the reality it claims to address are then attributed to particular imperfections in reality itself. Most heterodox economists seize on this fact and insist that the world is characterized by imperfect competition. But this only ties them to the notion of perfect competition, which remains as their point of departure and base of comparison. There is no imperfection without perfection. In Capitalism, Anwar Shaikh takes a different approach. He demonstrates that most of the central propositions of economic analysis can be derived without any reference to standard devices such as hyperrationality, optimization, perfect competition, perfect information, representative agents, or so-called rational expectations. This perspective allows him to look afresh at virtually all the elements of economic analysis: the laws of demand and supply, the determination of wage and profit rates, technological change, relative prices, interest rates, bond and equity prices, exchange rates, terms and balance of trade, growth, unemployment, inflation, and long booms culminating in recurrent general crises. In every case, Shaikh's innovative theory is applied to modern empirical patterns and contrasted with neoclassical, Keynesian, and Post-Keynesian approaches to the same issues. Shaikh's object of analysis is the economics of capitalism, and he explores the subject in this expansive light. This is how the classical economists, as well as Keynes and Kalecki, approached the issue. Anyone interested in capitalism and economics in general can gain a wealth of knowledge from this ground-breaking text.