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Costas Lapavitsas

Costas Lapavitsas

PROFITING WITHOUT PRODUCING: HOW FINANCE EXPLOITS US ALL

By Costas Lapavitsas

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AVAILABLE NOW: http://www.versobooks.com/books/1506-profiting-without-producing

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“This book is a profound and panoramic study of the most powerful but destructive economic force of our time – financialization. Based on a sophisticated modern reinterpretation of Marxist theories and in depth empirical analysis, the book comes up with bold and fundamental reform proposals. It is a must-read for anyone who is committed to progressive economic and social transformation.” – Ha-Joon Chang, Author of 23 THINGS THEY DON’T TELL YOU ABOUT CAPITALISM

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Financialization is one of the most innovative concepts to emerge in the field of political economy in the last three decades, although there is no agreement on what exactly it is. PROFITING WITHOUT PRODUCING defines financialization in terms of the fundamental conduct of non-financial enterprises, banks and households. Its most prominent feature is the rise of financial profit, in part extracted directly from households through financial expropriation. 

Financialized capitalism is prone to crises, none greater than the gigantic turmoil that began in 2007. Using abundant empirical data, the book establishes the causes of the crisis and discusses the options broadly available for controlling finance.

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HOW TO DO POST-CRASH ECONOMICS? Read Costas Lapavitsas’ outline for the future of economics here: http://www.versobooks.com/blogs/1441-how-to-do-post-crash-economics

VERSO POST-CRASH ECONOMICS READING LIST –

Neoliberal economics isn’t working and students are demanding more from their course reading than the 8th edition of Macroeconomics can provide. Following the news that Economics students in Manchester have formed the Post-Crash Economics Society and Aditya Chakrabortty’s excoriating and controversial commentary in the Guardian on the state of contemporary economics, Verso presents a reading list of economics titles which challenge the mainstream neoliberal consensus and offer powerful alternative models in contemporary economics: http://www.versobooks.com/blogs/1433-post-crash-economics-a-reading-list

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“The growing dominance of global finance over the past generation ushered in the Wall Street crisis of 2007–09, and, along with it, mass unemployment and punishing austerity policies throughout the world. Building from his command of both the Marxian tradition and alternative theoretical perspectives, Costas Lapavitsas provides both a wide panorama and fresh insights as to how “finance exploits us all”. PROFITING WITHOUT PRODUCING is a major contribution to our understanding of financialization and its discontents. – Robert Pollin, Political Economy Research Institute, University of Massachusetts-Amherst

“Costas Lapavitsas has provided an original account of the difficulties that economies will face recovering from the 2008 economic crisis. It is not an optimistic picture, but one that people should struggle with.” – Dean Baker, Center for Economic and Policy Research

“This work is clearly a masterpiece on the financialized capitalism of our age.” – Makoto Itoh, Professor Emeritus, University of Tokyo

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Costas Lapavitsas is a Professor of Economics at the School of Oriental and African Studies, University of London. He is a member of Research on Money and Finance (RMF). He is the lead author of the new RMF report “Breaking Up? A Route Out of the Eurozone Crisis.” His previous publications include SOCIAL FOUNDATIONS OF MARKETS, MONEY AND CREDIT and POLITICAL ECONOMY OF MONEY AND FINANCE.

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Paperback Original / ISBN: 9781781681411 / $29.95 / £20.00 / $34.95CAN/ 352 pages

 

Hardback / ISBN: 9781781682463 / 95.00 / £55.00 / $108.00CAN / 352 pages

 

For more information on PROFITING WITHOUT PRODUCING: HOW FINANCE EXPLOITS US ALL or to buy the book visit: http://www.versobooks.com/books/1506-profiting-without-producing

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Athens, The Academy

NEW DATE FOR ‘THE HUMANITIES AND THE IDEA OF THE UNIVERSITY’ – MIDDLESEX UNIVERSITY

NEW DATE for ‘The Humanities and the Idea of the University’, Philosophy Department, Middlesex University

The Middlesex workshop on the Humanities will now take place on TUESDAY 7 DECEMBER 2010, 11am-6pm, Saloon (M004), Ground Floor, Mansion Building, Middlesex University, Trent Park campus, Bramley Road, London N14 4YZ.

Schedule:

11am
Christian Kerslake
Introduction: Philosophy, the Humanities and the University

11.30
Andrew McGettigan
How will Willett’s ‘New Providers’ affect the Arts and Humanities? Independents, For-Profits and External Degrees in the Proposals for Higher Education

12.00
Dave Hill
Education and Resistance in/under Capitalism

12.30
Discussion

1.00
Break for Lunch

2.00
Johann Hoiby, Alfie Meadows, Maria-Louise Rosbech
Student Reflections

2.45
Andrew Goffey
Stupidity and the University

3.15
Matthew Charles
Philanthropy and the Image of the University

3.45
Discussion & Coffee

4.30
Mark Kelly
Resisting the Bureaucratisation of the University

5.00 
Marina Vishmidt
The Humanities and the Location of Value in the University

5.30
Discussion

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THE HUMANITIES AND THE IDEA OF THE UNIVERSITY

What are the Humanities, and what are they for? What is a university, and what is it for? Is it possible to stipulate that Humanities education is an essential component of what a university does, or should be doing? How can the links be reinforced between Humanities education and principles of universality and equality?

In her recent book Not for Profit: Why Democracy needs the Humanities (Princeton, 2010), Martha Nussbaum argues that “thirsty for national profit, nations, and their systems of education, are heedlessly discarding skills that are needed to keep democracies alive. If this trend continues, nations all over the world will soon be producing generations of useful machines, rather than complete citizens who can think for themselves”. She presents a case that Humanities education is essential to the cultivation of critical thinking, reflection and empathy with others. 

How, then, to effectively defend Humanities education? At this current juncture, is it possible to effectively defend the Humanities and higher education without also calling for an overall reform of the economy? 

In the past five years Middlesex University has abandoned teaching and research in two key Humanities subjects, History (closed in 2006) and Philosophy (admissions stopped in 2010). It appears to be on course to reduce all of its Humanities provision. This workshop will be a forum for lecturers and students to discuss the future of the Humanities at Middlesex and in the UK in general.

The workshop is co-organised by Andrew Goffey (a.goffey@mdx.ac.uk) and Christian Kerslake (c.kerslake@mdx.ac.uk).

Attendance is free, but please register at mdxhumanities@yahoo.co.uk.

Tube: Piccadilly line to Oakwood station, free bus to campus.

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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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The Dialectic

CAPITALISM AND THE DIALECTIC: THE UNO-SEKINE APPROACH TO MARXIAN ECONOMY

JOHN R BELL

Capitalism & the Dialectic introduces the approach pioneered by Japanese economist, Kozo Uno and refined perhaps most dramatically by Thomas Sekine. This approach progressively increases its comprehension of capitalism by moving sequentially through three distinct levels of analysis. In the theory of pure capitalism, Uno and Sekine reproduce the logic that capital and its society-wide market employ in the attempt to reproduce material economic life. By adhering to Marx’s Hegelian dialectical method more consistently than did Marx, they are able to correct and complete Capital and to provide a convincing defence of value theory. The stages theory of capitalism’s historical development recognizes that in any historical society capital must also contend with more intractable use-values than the light cotton-type goods that are contemplated by pure theory (and that did indeed dominate British liberal capitalism). In theorizing each of the stages capitalism (mercantilism, liberalism, imperialism), the Uno-Sekine perspective recognizes that stage-specific economic policies must be advanced to tame use-value to the point that the market can operate effectively to reproduce economic life. Subsequent empirical studies are informed by these two levels of theory. The Uno-Sekine approach does not overlook the possibility that a society might still strive to be capitalist after use-value resistance has become so great that no bourgeois policy can provide the market with sufficient support to allow it to successfully regulate economic life.

Contents

Part 1 Dialectical Theory of Capitalism: Circulation
     1 Commodity,Value, Money and Capital Forms
Part II Dialectical Theory of Capitalism: Production
     2 Capitalist Production
     3 Circulation and Reproduction of Capital
Part III Dialectical Theory of Capitalism: Distribution
     4 Theory of Profit
     5 Business Cycles
     6 Rent, Commercial Credit
     7 Interest-Bearing Capital Closes the Dialectic
Part IV Capitalism and History
     8 Stages Theory of Capitalist Development
     9 Conclusion: Capitalists Beyond Capitalism

“This is a clear introduction to a ground-breaking 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.” — Thomas Sekine, author of An Outline of the Dialectic of Capital (1997)

“Many thinkers have been influenced by the work of Japanese political economist Kozo Uno. Thomas Sekine’s two volume work, An Outline of the Dialectic of Capital, has done the most to reflect and enlarge Uno’s work. John Bell’s book is essential reading for anyone interested in understanding the core concepts and principles of this important 
school of thought.” – Robert Albritton, author of Economics Transformed (Pluto Press, 2007)

“Japanese political economist Kozo Uno made major interventions [on important questions of Marxist theory] … but due to language barriers these were passed over. John Bell’s book helps to fill an intellectual gap with an overview of Uno’s compelling reconstruction of Marx ‘s Capital.” – Richard Westra, author of Political Economy and Globalization (2009)

Publication date October 2009
ISBN hardcover 97807745329349
ISBN  paperback 9780745329338
h 9.25″ x 5.87″
Pluto Press   http://www.plutopress.com
Author’s site http://capitalismandthedialectic.com

John R Bell taught for over three decades at Seneca College. He was co-editor of New Socialisms (2004) and is currently working on a book on the subject of socialism. He co-authored, “The Disintegration of Capitalism: A Phase of Post of Ex-Capitalist Transition” with Tom Sekine, whom he is now asisting with the translation of Kozo Uno’s 
Economic Policies Under Capitalism.

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Social Capital

THEORIES OF SOCIAL CAPITAL

Theories of Social Capital: Researchers Behaving Badly

Ben Fine

Released March 15th 2010

PB / £ 27.50 / 9780745329963 / 230mm x 150mm / 288 pp

Ben Fine is the world’s most thorough and indefatigible critic of the abuse of the concept of capital that follows from adding “social” to it. … Here he … explore[s] the reasons behind the chaos this causes and the consequences of the penetration of notions of profit into every nook and cranny of our lives. A must-read for all irritated and irritable thinkers in social science. — Barbara Harriss-White, Oxford University

Tracing the evolution of social capital since his highly acclaimed contribution of 2001 (Social Capital Versus Social Theory), Ben Fine consolidates his position as the world’s leading critic of the concept.

Fine forcibly demonstrates how social capital has expanded across the social sciences only by degrading the different disciplines and topics that it touches: a McDonaldisation of social theory. The rise and fall of social capital at the World Bank is critically explained as is social capital’s growing presence in disciplines, such as management studies, and its relative absence in others, such as social history.

Writing with a sharp critical edge, Fine not only deconstructs the roller-coaster presence of social capital across the social sciences but also draws out lessons on how (and how not) to do research.

Ben Fine is Professor of Economics at the School of Oriental and African Studies, University of London. He most recently co-authored From Economics Imperialism to Freakonomics: The Shifting Boundaries Between Economics and Other Social Sciences (2009) and serves on the Social Science Research Committee of the UK’s Food Standards Agency.

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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Zombie Capitalism

New from Bookmarks Publications

Zombie Capitalism: Global crisis and the relevance of Marx, by Chris Harman

A major new study of capitalism from Marx to the 21st century

Praise for Zombie Capitalism:

“A powerful, comprehensive and accessible critique of capitalism from one of the world’s pre-eminent Marxist economists. This book needs to be read far and wide. It is a clear, incisive warning of the massive dangers posed by a ‘runaway system’ and the threat it poses for the future of humanity.” Graham Turner, author of Credit Crunch: Housing Bubbles, Globalisation and the Worldwide Economic Crisis 

“Essential reading for anyone who wants to understand the present crisis and its place in the history of capitalism and an important contribution to Marxist political economy” Alex Callinicos, Professor of European Studies, King’s College London

To read an interview with Chris about his new book, click here

To read Chris’s article “The Rate of Profit and the World Today”, click here

ISBN: 9781905192533; July 2009 428pp; £16.99

To order Zombie Capitalism for the special offer price of £15, click here

To request a review copy, email: publications@bookmarks.uk.com

Chris Harman is the editor of International Socialism journal (http://www.isj.org.uk). His previous books include A People’s History of the World (Bookmarks 1999 and Verso 2008), Revolution in the 21st Century (Bookmarks 2006), Economics of the Madhouse (Bookmarks 1995), The Fire Last Time: 1968 and After (Bookmarks 1988), Explaining the crisis (Bookmarks 1984) and The Lost Revolution: Germany 1918 to 1923 (Bookmarks 1982).

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