The Theory Of Accumulation
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Contemporary Capitalism And Its Crises
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Author : Terrence McDonough
language : en
Publisher: Cambridge University Press
Release Date : 2010-01-11
Contemporary Capitalism And Its Crises written by Terrence McDonough and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-01-11 with Business & Economics categories.
This volume analyses contemporary capitalism and its crises based on a theory of capitalist evolution known as the social structure of accumulation (SSA) theory. It applies this theory to explain the severe financial and economic crisis that broke out in 2008 and the kind of changes required to resolve it. The editors and contributors make available new work within this school of thought on such issues as the rise and persistence of the "neoliberal," or "free-market," form of capitalism since 1980 and the growing globalization and financialization of the world economy. The collection includes analyses of the U.S. economy as well as that of several parts of the developing world.
The Theory Of Accumulation
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Author : Nobuo Okishio
language : en
Publisher: Springer Nature
Release Date : 2022-01-18
The Theory Of Accumulation written by Nobuo Okishio and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-01-18 with Business & Economics categories.
This book treats the mechanisms of growth and cycles in capitalist economies in a unified manner, incorporating a highly original macro-dynamic theory based on Marxian micro-foundations and historical perspectives. That theory was developed about 50 years ago by Nobuo Okishio (1927–2003) and included the ideas of Keynes and Harrod. In mainstream economics, it used to be standard to analyse long-term economic growth and business cycles in different frameworks. That approach has been changing recently, but it still tends to be common to discuss them separately. At the outbreak of the global financial crisis of 2007–2008 and the prolonged stagnation that followed, there was strong criticism among policymakers and businesspeople that mainstream macroeconomics failed to provide convincing explanations and effective policy recommendations. This book offers an alternative perspective that responds to those criticisms. All these macroeconomic difficulties call for new wisdom beyond the limited neoclassical framework. The sharp, wise thoughts of Okishio will add new tools for young researchers worldwide to meet the challenges of the current resource misallocation, the Great Recession and the Lost Decades problems. Okishio proposes a historical perspective for the capitalist system, first. He argues that production relations are conditioned by productive force. The former should evolve as the latter improves, and the latter should evolve in order for human society to survive. While reproduction is indispensable for the economy to continue in any production relations, it takes a specific form in capitalist economy. He next shows that the existence of profit requires the exploitation of the labourer. This is called the Fundamental Marxian Theorem. He also shows a trade-off relationship between the real wage rate and the profit rate. In his theory, the real wage rate is determined to clear commodity markets in the short run as in the Keynesian theory, while Marx believed that the real wage rate is given at subsistence level or is influenced by the labour market. Okishio attributes the origin of the business cycle to labourers’ under-consumption and private capitalists’ dispersive decision of accumulation. The former is caused by exploitation, and the latter is based on the capitalist class’s private ownership of the means of production. Both are derived from the nature of the capitalist economy. He argues lastly that, in the long term, the development of productive force through the business cycle will transform the production relation into a new economic system.
Key Elements Of Social Theory Revolutionized By Marx
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Author : Paul Zarembka
language : en
Publisher: BRILL
Release Date : 2020-09-25
Key Elements Of Social Theory Revolutionized By Marx written by Paul Zarembka and has been published by BRILL this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-09-25 with Social Science categories.
Marx's oeuvre is vast but there are key elements of his ever evolving, class-based contribution to social theory. Declining usefulness for him of Hegelian philosophy and his deepening confrontation with Ricardian political economy were expressions. While the French edition of Capital is closest to Marx’s mature thought, Engels did not understand how work on Russia related to Marx’s evolution, and Engels distorted the outcome. Accumulation of capital is particularly difficult conceptually, including use of ‘primitive accumulation’, and is carefully addressed, as is composition of capital. After Marx, Luxemburg is the most significant contributor to Marxism and her works on political economy and on nationalism are highlighted here. The modern topic of state conspiracies, too often avoided, concludes the book. Troubling issues, however, remain.
Handbook On Social Structure Of Accumulation Theory
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Author : McDonough, Terrence
language : en
Publisher: Edward Elgar Publishing
Release Date : 2021-12-07
Handbook On Social Structure Of Accumulation Theory written by McDonough, Terrence and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-12-07 with Business & Economics categories.
This pioneering Handbook offers a state-of-the-art exploration of the social structure of accumulation theory, a leading theory of stages of capitalism, expertly summarising its development to date. It breaks new ground in several areas, including econometric evidence for the theory and developing institutional analyses of technology and the environment.
Essays In The Theory Of Economic Growth
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Author : Joan Robinson
language : en
Publisher: Springer
Release Date : 1965-01-01
Essays In The Theory Of Economic Growth written by Joan Robinson and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 1965-01-01 with Business & Economics categories.
Keynes S General Theory And Accumulation
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Author : A. Asimakopulos
language : en
Publisher: Cambridge University Press
Release Date : 1991-06-28
Keynes S General Theory And Accumulation written by A. Asimakopulos and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1991-06-28 with Business & Economics categories.
This book makes Keynes's writing on his General Theory accessible to students by presenting this theory in a careful, consistent manner that is faithful to the original. Keynes's theory continues to be important, because the issues it raised, such as the problems of involuntary unemployment, the volatility of investment, and the complexity of monetary arrangements in modern capitalist economies, are still with us. Keynes's method of analysis, which tries to allow for the complications of dealing with historical time, deserves the careful attention given in this book. Keynes's formal analysis dealt only with a short period of time during which changes in productive capacity as a result of net investment were small relative to initial productive capacity. Roy Harrod and Joan Robinson were the two most prominent followers of Keynes who attempted to extend his analysis to the long period by allowing for the effects of investment on productive capacity as well as on effective demand. The careful examination of their writings on this topic is a natural complement to the presentation of Keynes's General Theory and makes clear the severe limitations on any use of equilibrium concepts in dealing with accumulation in models that try to observe Keynes's warnings about an unknowable future in the type of world we inhabit.
The Law Of Accumulation And Breakdown Of The Capitalist System
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Author : Henryk Grossmann
language : en
Publisher: Pluto Books
Release Date : 1992-03-20
The Law Of Accumulation And Breakdown Of The Capitalist System written by Henryk Grossmann and has been published by Pluto Books this book supported file pdf, txt, epub, kindle and other format this book has been release on 1992-03-20 with Political Science categories.
Henryk Grossmann's influential work provides the key to a fuller understanding of Marx's theory of crisis.
The Theory Of Accumulation
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Author : Nobuo Okishio
language : en
Publisher:
Release Date : 2022
The Theory Of Accumulation written by Nobuo Okishio and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022 with categories.
This book treats the mechanisms of growth and cycles in capitalist economies in a unified manner, incorporating a highly original macro-dynamic theory based on Marxian micro-foundations and historical perspectives. That theory was developed about 50 years ago by Nobuo Okishio (1927-2003) and included the ideas of Keynes and Harrod. In mainstream economics, it used to be standard to analyse long-term economic growth and business cycles in different frameworks. That approach has been changing recently, but it still tends to be common to discuss them separately. At the outbreak of the global financial crisis of 2007-2008 and the prolonged stagnation that followed, there was strong criticism among policymakers and businesspeople that mainstream macroeconomics failed to provide convincing explanations and effective policy recommendations. This book offers an alternative perspective that responds to those criticisms. All these macroeconomic difficulties call for new wisdom beyond the limited neoclassical framework. The sharp, wise thoughts of Okishio will add new tools for young researchers worldwide to meet the challenges of the current resource misallocation, the Great Recession and the Lost Decades problems. Okishio proposes a historical perspective for the capitalist system, first. He argues that production relations are conditioned by productive force. The former should evolve as the latter improves, and the latter should evolve in order for human society to survive. While reproduction is indispensable for the economy to continue in any production relations, it takes a specific form in capitalist economy. He next shows that the existence of profit requires the exploitation of the labourer. This is called the Fundamental Marxian Theorem. He also shows a trade-off relationship between the real wage rate and the profit rate. In his theory, the real wage rate is determined to clear commodity markets in the short run as in the Keynesian theory, while Marx believed that the real wage rate is given at subsistence level or is influenced by the labour market. Okishio attributes the origin of the business cycle to labourers' under-consumption and private capitalists' dispersive decision of accumulation. The former is caused by exploitation, and the latter is based on the capitalist class's private ownership of the means of production. Both are derived from the nature of the capitalist economy. He argues lastly that, in the long term, the development of productive force through the business cycle will transform the production relation into a new economic system.
Capitalist Development And Crisis Theory Accumulation Regulation And Spatial Restructuring
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Author : Mark Gottdeiner
language : en
Publisher: Springer
Release Date : 1989-06-12
Capitalist Development And Crisis Theory Accumulation Regulation And Spatial Restructuring written by Mark Gottdeiner and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 1989-06-12 with Social Science categories.
This collection of essays looks at recent developments in the crisis theory of capitalist development and relates such theories directly to the current patterns of economic, political technological and cultural changes associated with societal restructuring in industrialized countries.
The Basic Theory Of Capitalism
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Author : Makoto Itō
language : en
Publisher: Rowman & Littlefield
Release Date : 1988-01-01
The Basic Theory Of Capitalism written by Makoto Itō and has been published by Rowman & Littlefield this book supported file pdf, txt, epub, kindle and other format this book has been release on 1988-01-01 with Political Science categories.
Beginning with a clear-cut review of the major economic schools, this book systematically studies the strengths and weaknesses in Marx's Capital proposes original solutions to the issues of value, labor and crises. The author thus provides an insight into the basic character of capitalism and its superficial forms and social substance.