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Value, Money and Capital
The book presents a high-impact re-reading of core topics in the Marx and Marxist debates including: value-theory, the commodity-nature of money, complex or skilled labour, the determination of the value of labour-power and the nature of extraordinary surplus value. Drawing on this literature, the book provides original and innovative insights into key controversies in contemporary capitalism such as the increasingly intellectual character of commodity-producing labour, the emergence of global value chains, the relevance of ground-rent bearing commodities, and the specific, uneven developmental dynamics of "resource-rich" countries in the global process of capital accumulation. Contributing to the renewed vitality of critical studies of the economic works of Karl Marx, this book will be essential reading for all those interested in contemporary debates within Marxism, as well as readers of political economy, economics, development studies and economic sociology.
Deglobalization, Financial Inequality, and the Green Economy
One of the most challenging issues for the current state of global economy is a highly uneven distribution of global financial assets and liabilities. Drawing on extensive data, this book analyses the new global divisions in economic and financial inequality across the globe in the first two decades of this century. After outlining the context of the global financial system in the aftermath of the Global Financial Crisis of 2008/2009, this book provides a detailed examination of the data on economic and financial inequality, analysing growth rates relative to financial liabilities and assets for all countries where data is available. The central issues in understanding the financial and envi...
Researching Poverty and Austerity
Poverty is a complex global challenge rooted in intertwined social, economic and political factors, which excludes people from participating fully in normalised social and market-based activities. The COVID-19 pandemic has exacerbated poverty-related issues such as food insecurity, and growing numbers of people are having to rely on welfare assistance. This pandemic, coupled with austerity measures implemented across many European countries over the past years, has impacted negatively on towns, cities, regions and countries, leaving places and communities depleted. This edited volume curates a collection of relevant research addressing the challenges of poverty and the political-economic mea...
Marx’s Capital, Method and Revolutionary Subjectivity
In Marx ́s Capital, Method and Revolutionary Subjectivity, Guido Starosta develops a materialist inquiry into the social and historical determinations of revolutionary subjectivity. Through a methodologically-minded critical reconstruction of the Marxian critique of political economy, from the early writings up to the Grundrisse and Capital, this study shows that the outcome of the historical movement of the objectified form of social mediation, which has turned into the very alienated subject of social life (i.e., capital), is to develop, as its own immanent determination, the constitution of the (self-abolishing) working class as a revolutionary subject. A crucial element in this intellectual endeavour is the focus on the intrinsic connection between the specifically dialectical form of social science and its radical transformative content.
The Structure and Operation of Modern Economies
This book is about the economy rather than economics. It explores the structures, inner workings and problems of modern economies, showing how the organisations and networks that shape the structure of the economy are arranged to provide society with goods and services. At the centre of the analysis there is the economic system, characterised by organisational components carrying out economic functions (production, consumption, distribution, and establishment and control of the economic activities as well as provision of public goods and services) and by a co-evolving dynamic with the state. The economic system is thus a ‘machine’ that modern states have organised through their laws and international agreements. The book incorporates a historical approach which reveals the varieties, structure and evolution of capitalism as the defining economic system of the modern age. Ultimately, the book demonstrates that the economic sphere and the political sphere are the two powers ruling people’s lives: the economy is the result of their interactions. This book will be of great interest to readers in political economy, economics, sociology and political science.
Economic Theory for the Real World
After the Great Financial Crisis economic theory was fiercely criticized from both outside and inside the discipline for being incapable of explaining a crisis of such magnitude. Slowly but persistently, new strands of economic thought are developing, to replace the old-fashioned neoclassical economic theory, which have a common characteristic: they are better suited to help understand the real-world economy. This book explores the key tenets and applications of these. The book opens with an explanation of the ‘real world’ approach to economics in which theoretical models resemble real world situations, realistic assumptions are made, and factors such as uncertainty, coordination problem...
Nature and Economic Society
This book focuses on the interrelationship between nature and the human economy. Building upon his decades of research into classical and Keynesian economics, Tony Aspromourgos here turns his attention to the interrelationship between nature and the human economy. The result is a tightly argued, concise but comprehensive interpretation of that vital issue, undertaken in the framework of a Classical-Keynesian synthesis. The classical dimension is utilization of a surplus approach to production and distribution, and the Keynesian dimension, incorporation of demand-side determination of economic activity levels and growth. In this conception the human economy is understood as a circular flow bu...
The Financial Foundations of Production and Uncertainty
Rejecting much of mainstream economic theory for being too passive, this book argues that the innovative and unpredictable nature of economic phenomena is better understood with analytical devices, which allow for more creative and participatory analysis. As is demonstrated, this has significant implications for our understanding of production, money, and finance. The book introduces the concept of "production commitments": the expectation of a producer that others in the chain will produce their corresponding output. This expectation forms the basis of all specialized production in the economy. And being at the center of the process of specialization, production commitments are the most bas...
Cooperative Firms and the Sustainable Development Goals
With growing economic inequality and threats to the sustainability of human societies, Koh argues that cooperatives can play an important role in promoting decent work and reducing economic inequality in the twenty-first century and thus urges policy makers to reignite policy discussions on cooperatives. This book shows how worker cooperatives are uniquely situated to empower low- and middle-wage workers and what governments can do to promote them. Koh clarifies the mechanism by which cooperatives create an upper hand over conventional companies in ‘labor-intensive’ sectors, thereby boosting employment potential. He also explains cooperatives’ wide contribution to the Sustainable Devel...
Transformations of Contemporary Capitalism
In recent decades, there has been many attempts to describe, explore, and explain the new ‘post-modern’ capitalism of the twenty-first century. In this context, this book looks at one of the most exciting strands of this research in the late twentieth century: the flexible specialisation research programme (FSRP). Drawing on the history of ideas, discourse, and literature on capitalism of the last four decades, this book shows that although ‘flexible specialisation’ anticipated some of the ways in which capitalism was being transformed in the late twentieth century, they underestimated and failed to anticipate the forms of ‘creative destruction’ and corporate digital control whic...
