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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.
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Critical Acclaim
Contributors
Contents
More Information
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 that straddle disciplinary boundaries. Some of the contributions offer an exposition of basic concepts, accessible to the general reader, laying out Marx’s own contribution, its significance, and subsequent positions and debates with and within Marxist political economy. The authors offer assessments of historical developments to and within capitalism, and of its current character and prospects. Other chapters adopt a mirror-image approach of pinpointing the conditions of contemporary capitalism as a way of interrogating the continuing salience of Marxist analysis.
This volume will inform and inspire a new generation of students and scholars to become familiar with Marxist political economy from an enlightened and unprejudiced position, and to use their knowledge as both a resource and gateway to future study.
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 that straddle disciplinary boundaries. Some of the contributions offer an exposition of basic concepts, accessible to the general reader, laying out Marx’s own contribution, its significance, and subsequent positions and debates with and within Marxist political economy. The authors offer assessments of historical developments to and within capitalism, and of its current character and prospects. Other chapters adopt a mirror-image approach of pinpointing the conditions of contemporary capitalism as a way of interrogating the continuing salience of Marxist analysis.
This volume will inform and inspire a new generation of students and scholars to become familiar with Marxist political economy from an enlightened and unprejudiced position, and to use their knowledge as both a resource and gateway to future study.
Critical Acclaim
''This will be a valuable resource for scholars, many in fields outside economics, for whom Karl Marx remains such vibrant presence that he is still read and reread in small study groups. It is hard to imagine making any progress in understnading modern capitalise without at least some knowledge of teh basic categories and analytic language provided by Marxian political economy. Space did not permit mention of the many other stimulating chapters in this collection but they convery well that knowledge and language.''
– Thomas R. Michl, Journal of the History of Economic Thought
‘This book is a valuable contribution for everyone with an interest in understanding the theory and application of Marxist analysis. It goes well beyond just repeating or explaining what Marx wrote, or even what he had intended. Instead, each of the 61 essays collected in this volume explores a difference subject, some of which, such as Analytical Marxism, neoliberalism, and radical political economy in the USA, only arose long after Marx’s lifetime. . . This book deserves close attention, not just as an academic exercise, but rather as a tool to make sure that Marxist theory again becomes a vital part of wider social, political, and economic discourse, potentially contributing to moving the world a bit closer to Marx’s original vision.’
– Michael Perelman, Science & Society
‘The Elgar Companion to Marxist Economics is an admirable collection which contains 61 short articles on a myriad of themes within Marxist economics, and from a selection of experts in the field. . . . Simon Mohun provides an accurate account of the difference between productive and unproductive labour in Marxist terms, particularly with regard to the non-productive ‘state sector’ and the domestic sphere. Ben Fine provides an excellent account of the Labour theory of value. Tony Smith offers a penetrating critique of the ‘new economy perspective’. Prabhat Patnaik provides a perspicuous and refreshing take on Lenin which reinstates the libertarian aspect of his thought and provides a clarification of his theory of imperialism. Many of the other articles I have failed to reference set an equally high standard.’
– Tony Mckenna, Marx & Philosphy
– Thomas R. Michl, Journal of the History of Economic Thought
‘This book is a valuable contribution for everyone with an interest in understanding the theory and application of Marxist analysis. It goes well beyond just repeating or explaining what Marx wrote, or even what he had intended. Instead, each of the 61 essays collected in this volume explores a difference subject, some of which, such as Analytical Marxism, neoliberalism, and radical political economy in the USA, only arose long after Marx’s lifetime. . . This book deserves close attention, not just as an academic exercise, but rather as a tool to make sure that Marxist theory again becomes a vital part of wider social, political, and economic discourse, potentially contributing to moving the world a bit closer to Marx’s original vision.’
– Michael Perelman, Science & Society
‘The Elgar Companion to Marxist Economics is an admirable collection which contains 61 short articles on a myriad of themes within Marxist economics, and from a selection of experts in the field. . . . Simon Mohun provides an accurate account of the difference between productive and unproductive labour in Marxist terms, particularly with regard to the non-productive ‘state sector’ and the domestic sphere. Ben Fine provides an excellent account of the Labour theory of value. Tony Smith offers a penetrating critique of the ‘new economy perspective’. Prabhat Patnaik provides a perspicuous and refreshing take on Lenin which reinstates the libertarian aspect of his thought and provides a clarification of his theory of imperialism. Many of the other articles I have failed to reference set an equally high standard.’
– Tony Mckenna, Marx & Philosphy
Contributors
Contributors: G. Albo, R. Albritton, D. Ankarloo, S. Ashman, A.J. Ayers, R. Balakrishnan, J. Banaji, S. Bisnath, M. Boffo, T.J. Byres, A. Campbell, P. Cerni, P. Chattopadhyay, S. Clarke, A. Colás, G.C. Comninel, M. Di Meglio, P.L. dos Santos, G. Duménil, B. Fine, J. Ghosh, G.H. Gimm, H. Goodacre, B. Gruffydd Jones, B. Harriss-White, K. Hart, M. Itoh, H. Jeon, B. Jessop, D. Johnston, R. Kiely, S. Knafo, D. Laibman, D. Lévy, D. Lo, T. Marois, P. Masina, S.D. Mavroudeas, D. Milonakis, S. Mohun, S. Newman, P. Patnaik, U. Patnaik, L. Pradella, H. Radice, A. Saad-Filho, S. Savran, G. Slater, T. Smith, E. Swyngedouw, B. Tinel, A. Toscano, J. Weeks, E.M. Wood, A. Zack-Williams, P. Zarembka, Y. Zhang
Contents
Contents:
Introduction
Ben Fine and Alfredo Saad-Filho
1. Accumulation of Capital
Paul Zarembka
2. The Agrarian Question and the Peasantry
Terence J. Byres
3. Analytical Marxism
Marco Boffo
4. Anthropology
Keith Hart
5. Capital
Jayati Ghosh
6. Capitalism
Ellen Meiksins Wood
7. Centrally Planned Economy
Dic Lo and Yu Zhang
8. Class and Class Struggle
Utsa Patnaik
9. Classical Political Economy
Hugh Goodacre
10. Combined and Uneven Development
Sam Ashman
11. Commodification and Commodity Fetishism
Robert Albritton
12. Competition
Paresh Chattopadhyay
13. Consumerism
Paula Cerni
14. Contemporary Capitalism
Greg Albo
15. Crisis Theory
Simon Clarke
16. Dependency Theory
John Weeks
17. Ecology and the Environment
Barbara Harriss-White
18. Economic Reproduction and the Circuits of Capital
Ben Fine
19. Exploitation and Surplus Value
Ben Fine
20. Feminist Economics
Radhika Balakrishnan and Savitri Bisnath
21. Feudalism
George C. Comninel
22. Finance, Finance Capital and Financialization
Thomas Marois
23. Friedrich Engels
Paresh Chattopadhyay
24. Geography
Erik Swyngedouw
25. Global Commodity Chains and Global Value Chains
Susan Newman
26. Globalization and Imperialism
Ray Kiely
27. International Political Economy
Alejandro Colás
28. Karl Marx
Lucia Pradella
29. Knowledge Economy
Heesang Jeon
30. Labour, Labour Power and the Division of Labour
Bruno Tinel
31. Labour Theory of Value
Ben Fine
32. Market Socialism
Makoto Itoh
33. Marx and Underdevelopment
Mauro Di Meglio and Pietro Masina
34. Marxism and History
George C. Comninel
35. Method of Political Economy
Branwen Gruffydd Jones
36. Mode of Production
Jairus Banaji
37. Money
Paulo L. dos Santos
38. Neoliberalism
Gérard Duménil and Dominique Lévy
39. Neoclassical Economics
Dimitris Milonakis
40. Neo-Ricardianism
Sungur Savran
41. New Technology and the ‘New Economy’
Tony Smith
42. Political Science
Alison J. Ayers
43. Population and Migration
Deborah Johnston
44. Productive and Unproductive Labour
Simon Mohun
45. Race
Alfred Zack-Williams
46. Radical Political Economy in the USA
Al Campbell
47. The Rate of Profit
Simon Mohun
48. The Regulation Approach
Stavros D. Mavroudeas
49. Rent and Landed Property
Erik Swyngedouw
50. The Social Structures of Accumulation Approach
Stavros D. Mavroudeas
51. Socialism, Communism and Revolution
Al Campbell
52. Sociology
Alberto Toscano
53. The State
Bob Jessop
54. ‘Transformation Problem’
Alfredo Saad-Filho
55. The Transition from Feudalism to Capitalism
David Laibman
56. Transnational Corporations
Hugo Radice
57. Unemployment
Gary Slater
58. Value-form Approach
Samuel Knafo
59. Vladimir I. Lenin
Prabhat Patnaik
60. The Welfare State
Daniel Ankarloo
61. World Economy
Gong Hoe Gimm
References
Index
Introduction
Ben Fine and Alfredo Saad-Filho
1. Accumulation of Capital
Paul Zarembka
2. The Agrarian Question and the Peasantry
Terence J. Byres
3. Analytical Marxism
Marco Boffo
4. Anthropology
Keith Hart
5. Capital
Jayati Ghosh
6. Capitalism
Ellen Meiksins Wood
7. Centrally Planned Economy
Dic Lo and Yu Zhang
8. Class and Class Struggle
Utsa Patnaik
9. Classical Political Economy
Hugh Goodacre
10. Combined and Uneven Development
Sam Ashman
11. Commodification and Commodity Fetishism
Robert Albritton
12. Competition
Paresh Chattopadhyay
13. Consumerism
Paula Cerni
14. Contemporary Capitalism
Greg Albo
15. Crisis Theory
Simon Clarke
16. Dependency Theory
John Weeks
17. Ecology and the Environment
Barbara Harriss-White
18. Economic Reproduction and the Circuits of Capital
Ben Fine
19. Exploitation and Surplus Value
Ben Fine
20. Feminist Economics
Radhika Balakrishnan and Savitri Bisnath
21. Feudalism
George C. Comninel
22. Finance, Finance Capital and Financialization
Thomas Marois
23. Friedrich Engels
Paresh Chattopadhyay
24. Geography
Erik Swyngedouw
25. Global Commodity Chains and Global Value Chains
Susan Newman
26. Globalization and Imperialism
Ray Kiely
27. International Political Economy
Alejandro Colás
28. Karl Marx
Lucia Pradella
29. Knowledge Economy
Heesang Jeon
30. Labour, Labour Power and the Division of Labour
Bruno Tinel
31. Labour Theory of Value
Ben Fine
32. Market Socialism
Makoto Itoh
33. Marx and Underdevelopment
Mauro Di Meglio and Pietro Masina
34. Marxism and History
George C. Comninel
35. Method of Political Economy
Branwen Gruffydd Jones
36. Mode of Production
Jairus Banaji
37. Money
Paulo L. dos Santos
38. Neoliberalism
Gérard Duménil and Dominique Lévy
39. Neoclassical Economics
Dimitris Milonakis
40. Neo-Ricardianism
Sungur Savran
41. New Technology and the ‘New Economy’
Tony Smith
42. Political Science
Alison J. Ayers
43. Population and Migration
Deborah Johnston
44. Productive and Unproductive Labour
Simon Mohun
45. Race
Alfred Zack-Williams
46. Radical Political Economy in the USA
Al Campbell
47. The Rate of Profit
Simon Mohun
48. The Regulation Approach
Stavros D. Mavroudeas
49. Rent and Landed Property
Erik Swyngedouw
50. The Social Structures of Accumulation Approach
Stavros D. Mavroudeas
51. Socialism, Communism and Revolution
Al Campbell
52. Sociology
Alberto Toscano
53. The State
Bob Jessop
54. ‘Transformation Problem’
Alfredo Saad-Filho
55. The Transition from Feudalism to Capitalism
David Laibman
56. Transnational Corporations
Hugo Radice
57. Unemployment
Gary Slater
58. Value-form Approach
Samuel Knafo
59. Vladimir I. Lenin
Prabhat Patnaik
60. The Welfare State
Daniel Ankarloo
61. World Economy
Gong Hoe Gimm
References
Index