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The Limits of Regulation
'Whilst the regulation approach has gone beyond its peak of influence and has been diluted of much of its radical content, this outstanding critical appreciation of its strengths and weaknesses will prove an invaluable point of reference for all those engaged in the political economy of the national within the global economy.' – Ben Fine, University of London, UK This unique and original book offers a critical survey of the regulation approach, an influential theoretical school born in the 1970s and belonging to the neo-Marxist and radical political economy traditions. The author's persuasive argument is that regulation, in order to explain capitalist development, resorts to historicism and institutionalism and thereby adopts a 'middle-range' methodology. He contends that both its theoretical and methodological perspectives are currently unfit for this purpose. This novel critique of regulation will prove a challenging and stimulating read for academics, researchers and graduate students with an interest in heterodox economics, the history of economic thought, political economy, regional development and labour process theory.
Greek Capitalism in Crisis
Despite the depth of the Greek crisis, the exorbitant burdens placed upon the working people and the massive popular resistance movement to capitalist policies, there is a definite lack of consistently Marxist analyses of the Greek problem. International debates regarding the Greek crisis have been dominated by orthodox (Neoclassical and neo-Keynesian) approaches. The heterodox side of these debates has been occupied by Radical Political Economy approaches (usually radical post-Keynesian or Marxo-Keynesian perspectives). Moreover, they are dominated by the ‘financialisation’ thesis which is quite alien to Marxism, neglects the sphere of production and professes that the global crisis is ...
Crisis, Movement, Strategy: The Greek Experience
In 2010 Greece entered a period of extreme austerity measures, but also of intense struggles and protests. Social and political crisis led to tectonic shifts in the political landscape and the rise to power of SYRIZA. However, despite the impressive expression of resistance in the 2015 referendum, the EU-IMF-ECB ‘Troika’ managed to impose the continuation of the same politics of austerity, privatisations, and neoliberal reforms. This social and political sequence poses important theoretical and analytical questions regarding capitalist crisis, public debt, European integration, political crisis, the new forms of protest and social movements, and the rise of neo-fascist parties. It also b...
The Elgar Companion to Marxist Economics
This Companion takes stock of the trajectory, achievements, shortcomings and prospects of Marxist political economy. It reflects the contributors' shared commitment to bringing the methods, theories and concepts of Marx himself to bear across a wide range of topics and perspectives, and it provides a testimony to the continuing purpose and vitality of Marxist political economy. As a whole, this volume analyzes Marxist political economy in three areas: the critique of mainstream economics in all of its versions; the critical presence of Marxist political economy within, and its influence upon, each of the social science disciplines; and, cutting across these, the analysis of specific topics t...
The Dialectics of Democracy
This book examines how the democratic form and the struggle for democracy reflects, influences and shapes the struggle for social emancipation. In the context of increased exploitation, rising inequality, and intensified struggle for social justice in the aftermath of the economic crisis, the channelling of populism through liberal democratic institutions has had contradictory effects: giving rise to both Corbyn and Brexit, Sanders and Trump, Syriza and the Golden Dawn, to name but a few. How can we make sense of these developments? In response, this book approaches the idea of democracy from a socialist constitutionalist standpoint and explores institutional forms and principles that challe...
The Internal Impact and External Influence of the Greek Financial Crisis
This contributed volume explores the political economy and socioeconomic aspects of the Greek Financial Crisis both within the country's borders and as part of the global economy. With chapters authored by international experts, this book examines and explicitly deals with specific and important issues that have been ignored by the dominant socioeconomic theory and practice, which have largely focused on the causes and broad economic consequences of the crisis. Discussions include the efficacy of new EU institutions created to address the crisis, the rise of unregistered economic activity, and comparisons with financial crises in countries beyond Europe. This diverse collection argues that the Greek Financial Crisis was not just an economic crisis, but a political and social crisis as well, one with repercussions beyond Europe.
Reconstructing Keynesian Macroeconomics Volume 3
This book represents the third of three volumes offering a complete reinterpretation and restructuring of Keynesian macroeconomics and a detailed investigation of the disequilibrium adjustment processes characterizing the financial, the goods and the labour markets and their interaction. This book offers a full treatment of the interlinkages between the real and the financial markets, including an analysis of banking, credit, and endogenous money and asset markets. It remains critical of quite frequently used conventional macro models that have dropped the tradition of studying the macroeconomic feedback channels, well-known in the history of macroeconomics. Those feedback mechanisms are kno...
Contemporary Economic Theory
Leading international scholars challenge neoliberalism on its assumptions, way of reasoning and empirical evidence. In particular, they discuss critically, from the standpoint of radical perspectives, the issues of limiting the state and privatization, inflation and unemployment, and the possibility of a socialist society. They also discuss the current project for the monetary and economic union (EMU) of Europe, considered as an application of neoliberalism. They assess and question the internal market, the common currency and central bank independence; and investigate alternatives to the EMU project and the marketization agenda.
The Rejuvenation of Political Economy
This book provides the basic knowledge of Japanese contributions in political economy and the ongoing research agenda, such as the pursuit of theoretical consistency in Marxian economics by Uno School; the concept of ‘civil society’ as a criterion of existing socio-economic structure; a mathematical reconstruction of Marxian theory; and an analysis of environmental pollution. The new generation of Japanese political economists in collaboration with their overseas counterparts has produced new insights into political economy and into the newly emerging structure of the world economy. The book provides useful insights into international capitalism and how past patterns of uneven development are now changing; the role of international finance in affecting both national and international growth and employment patterns; an analysis of recent growth patterns in Asia; and the specific issue emerging within the Asian region and the implications for economics, social change and geopolitics.
