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Tag Archives: Law of Value

Hillel Ticktin

HILLEL TICKTIN ON THE RISE AND FALL OF THE LAW OF VALUE

For the next meeting of the Marx, Individuals & Society Seminar we have Hillel Ticktin talking on: ‘The rise and fall of the law of value’

Room MAL 354, Friday 25th February, 7-30 – 9.00pm, Malet Street, London
That should be interesting; I’m looking forward to it. Hope to see you there.

Best wishes

William Dixon

For further information contact: lukiezac@dircon.co.uk

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Jacob

THE LAW OF WORLDWIDE VALUE – SAMIR AMIN

New from Monthly Review Press

The Law of Worldwide Value

Samir Amin

Order online
Or call 800.670.9499

$15.95 pbk | 144 pages

In his new extensively revised and expanded edition of this book, Samir Amin suggests new approaches to Marxian analysis of the crisis of the late capitalist system of generalized, financialized, and globalized oligopolies following on the financial collapse of 2008.

Considering that Marx’s Capital, written before the emergence of imperialism as a decisive factor in capitalist accumulation, could provide no explanation for the persistent “underdevelopment” of the
countries of the “global South,” Amin advances several important theoretical concepts extending traditional Marxian views of capitalist evolution.

Most strikingly, he proposes adding to the model of reproduction in Volume II of Capital a Third Department of Production devoted to surplus absorption, necessitated by the capitalist tendency constantly to produce an economic surplus too large to be realized by the consumption and investment purchases generated within Marx’s original two-department model.

Equally interesting is his theoretical concept of “imperialist rent,” derived from the scaling of radically different wages paid for the same labor in countries of the North and the South, whose effect has been to provide Northern capital with sufficient profits to permit it to pacify for a long period its conflict with the Northern proletariat. To account for this new type of rent he extends the Marxian “law of value” in the form of a “law of globalized value” whose operations determine such changes in the polarized world system as the industrial growth of many Third-World nations within the global imperialist context.

Amin sees the present crisis as a moment in the second long crisis of the capitalist system, dating from the early 1970’s (the first long crisis, he maintains, lasted from 1873 until 1945). He sees no exit from repeated crises under capitalism except the descent into barbarism. The challenge is not to escape from the crisis of capitalism —a hopeless project—but to escape from capitalism in crisis. And Amin reasserts his historical optimism as to the socialist project. He expects a “second wave” of socialist attempts that will stem from the self-liberating efforts of the nations and peoples of the South which, by eliminating the imperialist rent, will lead to an awakening of the Northern popular classes to join the awakening of the global South. This book has an important place among the theoretical resources for anyone involved in the study of contemporary Marxian economic and political theory.

Samir Amin was born in Egypt in 1931 and received his Ph.D. in economics in Paris in 1957. He is director of the Third World Forum in Dakar, Senegal. His numerous works include Eurocentrism: Second Edition, The World We Wish to See, The Liberal Virus, Accumulation on a World Scale, Unequal Development, and Spectres of Capitalism.

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Global Crisis

GLOBAL CAPITALISM IN CRISIS: KARL MARX AND THE DECAY OF THE PROFIT SYSTEM

A new book by

Murray E.G. Smith

 

http://www.fernwoodpublishing.ca/Global-Capitalism-in-Crisis-Murray-EG-Smith/

    • ISBN: 9781552663530
    • Price: $24.95 CAD
    • Publication Date: Mar 2010
    • Rights: World
    • Pages: 172

The world economy is currently experiencing a devastating slump not seen since the Second World War. Unemployment rates are skyrocketing and salaries are plummeting in the developed world, while astronomical food prices and starvation ravage the developing world. The crisis in global capitalism, Smith argues, should be understood as both a composite crisis of overproduction, credit and finance, and a deep-seated systemic crisis. Using Marx to analyze the origins, implications and scope of the current economic slump, this book argues that the crisis needs to be understood structurally, as the result of a system prone to crisis, rather than as an aberration.

CONTENTS:
The Global Economic Crisis: A Marxist Perspective • A Summary of Marx’s Theories of Value, Capital and Crisis • The Necessity of Value Theory: Brenner’s Analysis of the “Long Downturn” and Marx’s Theory of Crisis • Class Struggle and Socialist Transformation: Beyond the Law of Value • The Global Crisis, Marxism and the Malaise of the Anti-Capitalist Left • Appendix 1, The Controversy Surrounding Marx’s Theory of Value • Appendix 2, Socially Necessary Unproductive Labour in Contemporary Capitalism • Bibliography • Index

ABOUT THE AUTHOR
Murray E.G. Smith is Professor of Sociology and Labour Studies at Brock University

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Not What It Seems

Not What It Seems

CAPITALISM AND THE DIALECTIC

 

PRESS RELEASE
— A Clear introduction to ground-breaking but little-known approach to Marxian political economy —

Capitalism And The Dialectic: The Uno-Sekine Approach To Marxian Political Economy
John R. Bell
Released October 25th 2009
PB / £ 25.00 / 9780745329338 / 230mm x 150mm / 256pp

This book is a clear introduction to a groundbreaking but little-known approach to Marxian economics: the Uno-Sekine approach. With this perceptive and thoughtful volume, John Bell renders a great service to the interested Western reader – Tom Sekine

From the 1960s to the 1990s the ground-breaking Japanese economists Kozo Uno and Thomas Sekine developed a masterful reconfiguration of Marxist economics. The most well-known aspect of which is the levels of analysis approach to the study of capitalism. Written in Japanese, the Uno-Sekine approach to Marx’s work is little understood in the West. John Bell seeks to correct this, explaining how problematic elements of Marxian Political Economy such as the law of value and the law of relative surplus population can be solved by using a more rigorous dialectical analysis. Bell’s clear and accessible synthesis provides economists with the tools to interrogate capitalism in a more powerful way than ever before.

John R. Bell taught for over three decades at Seneca College, Toronto, Canada. His ‘Dialectics and Economic Theory’ appeared in ‘A Japanese Approach to Political Economy’ (1995); ‘From Hegel to Marx to the Dialectic of Capital’ appeared in ‘New Dialectics and Political Economy’ (2003). He and Thomas Sekine co-authored ‘The Disintegration of Capitalism: A Phase of Ex-Capitalist Transition’ in ‘Phases of Capitalist Development: Booms, Crises and Globalizations’ (2001). In 2004 he co-edited ‘New Socialisms’, to which he contributed, ‘Marx’s Anti-Authoritarian Ecocommunism.

For further information, to request a review copy or to speak to the author please contact Jon Wheatley at jonw@plutobooks.com or on 0208 374 6424

345 ARCHWAY ROAD, LONDON, N6 5AA
TEL: 0208 3482724 FAX: 0208 348 9133 http://www.plutobooks.com

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