A Political Economy of Contemporary Capitalism and its Crisis

Demystifying Finance
Author: Dimitris P Sotiropoulos,John Milios,Spyros Lapatsioras
Publisher: Routledge
ISBN: 1135037922
Category: Business & Economics
Page: 266
View: 9083
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The recent financial meltdown and the resulting global recession have rekindled debates regarding the nature of contemporary capitalism. This book analyses the ongoing financialization of the economy as a development within capitalism, and explores the ways in which it has changed the organization of capitalist power. The authors offer an interpretation of the role of the financial sphere which displays a striking contrast to the majority of contemporary heterodox approaches. Their interpretation stresses the crucial role of financial derivatives in the contemporary organization of capitalist power relations, arguing that the process of financialization is in fact entirely unthinkable in the absence of derivatives. The book also uses Marx’s concepts and some of the arguments developed in the framework of the historic Marxist controversies on economic crises in order to gain an insight into the modern neoliberal form of capitalism and the recent financial crisis. Employing a series of international case studies, this book will be essential reading for all those with an interest in the financial crisis, and all those seeking to comprehend the workings of capitalism.

Contemporary Capitalism and Its Crises

Social Structure of Accumulation Theory for the 21st Century
Author: Terrence McDonough,Michael Reich,David M. Kotz
Publisher: Cambridge University Press
ISBN: 0521515165
Category: Business & Economics
Page: 360
View: 8457
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This volume analyses contemporary capitalism and its crises based on a theory of capitalist evolution known as the social structure of accumulation (SSA) theory. It applies this theory to explain the severe financial and economic crisis that broke out in 2008 and the kind of changes required to resolve it. The editors and contributors make available new work within this school of thought on such issues as the rise and persistence of the "neoliberal," or "free-market," form of capitalism since 1980 and the growing globalization and financialization of the world economy. The collection includes analyses of the U.S. economy as well as that of several parts of the developing world.

The Political Economy of Global Capitalism and Crisis


Author: Bill Dunn
Publisher: Routledge
ISBN: 1317751272
Category: Political Science
Page: 202
View: 9239
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The book provides a theoretically and historically informed analysis of the global economic crisis. It makes original contributions to theories of value, of crisis and of the state and uses these to develop a rich empirical study of the changing character of capitalism in the twentieth century and beyond. It defends, uses and develops Marxist theory while arguing particularly against jumping too quickly from abstract concepts to a concrete understanding of the crisis. Instead, it uses what Marx described in his notebooks as an ‘obvious’ analytical ordering to progress from a general analysis of economy and society to a discussion of recent economic transformations and the specifics of the crisis and its aftermath.Dunn argues that appropriately reconceived, a critical Marxism can incorporate and enrich rather than rejecting insights from other traditions. He disputes general characterisations of capitalism to the crisis and theories which see finance and the contemporary financial crises as largely detached from other aspects of the economy and society. Providing a thoroughly socialised and historically based account, this book will be vital reading for students and scholars of political economy, international political economy, Marxism, sociology, geography and development studies.

Kritik der politischen Ökonomie

eine Einführung
Author: Michael Heinrich
Publisher: N.A
ISBN: 9783896575937
Category: Capital
Page: 240
View: 3824
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Auf der Titelblattrückseite: 3. Aufl., auf dem vorderen Buchdeckel: 5. Aufl.

The Political Economy of Gunnar Myrdal

Transcending Dilemmas Post-2008
Author: Örjan Appelqvist
Publisher: Routledge
ISBN: 131796232X
Category: Business & Economics
Page: 150
View: 2684
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The intellectual trajectory of Gunnar Myrdal, Swedish Nobel Laureate economist, sociologist, and politician, brings us through many of the major issues in the world economy and politics of the 20th century. This new volume explores Myrdal's work on three major themes: breaking away from conventional assumptions in Political Economy (and highlighting flaws that can still be found in today’s teachings on Political Economy); finding ways of re-creating Europe after WW II, including the discussions between liberal Americans and European social democrats on how to create a more cooperative and socially just international order; and understanding the impact or environmental concerns on growth and development, starting with Myrdal’s participation in the first UN Conference on Environment in Stockholm 1960 and continuing with his later writings. What is then the relevance of these themes today? In times when financial crisis threatens to block international and domestic economies, when the European Union’s promises of prosperity and cooperation seems to be severely threatened and when there is a large consensus that current modes of economic development are ecologically unsustainable: can we find ways of transcending seemingly intractable dilemmas? These questions will be discussed in the final part of the book.

Marxism and Environmental Crises


Author: David Layfield
Publisher: Arena books
ISBN: 9780955605567
Category: Nature
Page: 195
View: 9914
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Layfield argues that Marxism offers a useful means to understand environmental crises. He maintains that capitalism produces the problem and explains why the effects of environmental crises fall most heavily upon those in the worst social and economic positions.

Crises of Global Economy and the Future of Capitalism

An Insight into the Marx's Crisis Theory
Author: Kiichiro Yagi,Nobuharu Yokokawa,Hagiwara Shinjiro,Gary Dymski
Publisher: Routledge
ISBN: 1135101655
Category: Business & Economics
Page: 296
View: 8972
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Recent events in the global financial markets and macro economies have served as a strong reminder for a need of a coherent theory of capitalist crisis and analysis. This book helps to fill the gap with well-grounded alternative articulations of the forces which move today's economic dynamics, how they interact and how ideas of foundational figures in economic theory can be used to make sense of the current predicament. The book presents a comprehensive collection of reflections on the origins, dynamics and implications of the interlinked crises of the U.S. and global economies. The book is a thoughtful collaboration between Japanese heterodox economists of the Japan Society of Political Economy (JSPE) and non-Japanese scholars. It provides a unique immersion in different, sophisticated approaches to political economy and to the crisis. The book illustrates with the understanding of Marx's crisis theory and how it can serve as a powerful framework for analyzing the contemporary sub-prime world crisis. The book explains the subprime loan crisis as a crisis in a specific phase of the capitalist world system and concludes that it is a structural one which destroys the existing capital accumulation regime. It pays attention to structural changes and to how these changes beget profound and controversial consequences. The result is a must-read - one which truly contributes to the resurgence of radical analyses of the political economy, free from the market optimism of the main-stream economics.

The Financialization of Housing

A political economy approach
Author: Manuel B. Aalbers
Publisher: Routledge
ISBN: 1317361792
Category: Business & Economics
Page: 158
View: 7274
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Due to the financialization of housing in today’s market, housing risks are increasingly becoming financial risks. Financialization refers to the increasing dominance of financial actors, markets, practices, measurements and narratives. It also refers to the resulting structural transformation of economies, firms, states and households. This book asserts the centrality of housing to the contemporary capitalist political economy and places housing at the centre of the financialization debate. A global wall of money is looking for High-Quality Collateral (HQC) investments, and housing is one of the few asset classes considered HQC. This explains why housing is increasingly becoming financialized, but it does not explain its timing, politics and geography. Presenting a diverse range of case studies from the US, the UK, the Netherlands, Germany, Italy and Spain, the chapters in this book include coverage of the role of the state as the driver of financialization processes, and the part played by local and national histories and institutions. This cutting edge volume will pave the way for future research in the area. Where housing used to be something "local" or "national", the two-way coupling of housing to finance has been one crucial element in the recent crisis. It is time to reconsider the financialization of both homeownership and social housing. This book will be of interest to those who study international economics, economic geography and financialization.

The Value of Marx

Political Economy for Contemporary Capitalism
Author: Alfredo Saad Filho
Publisher: Routledge
ISBN: 1134566972
Category: Business & Economics
Page: 192
View: 6342
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Karl Marx's writings provide a uniquely insightful explanation of the inner workings of capitalism, which other schools of thought generally have difficulty explaining. From this vantage point, Marx's works can help to explain important features and economic problems of our age, and the limits of their possible solutions. For example, the necessity and origin of money, the growth of the wage-earning class, uneven development, cycles and crises, and the relevant impoverishment of the workers, leading to debt and overwork. The Value of Marx demonstrates that: *capitalist production necessarily involves conflicts in production and in distribution *competition is an essential feature of capitalism, but it often generates instability, crises and unemployment, showing that capitalism is not only the most productive but also the most systematically destructive mode of production in history *capitalist economies are unstable because of the conflicting forces of extraction, realisation and the accumulation of surplus value under competitive conditions. The instability is structural, and even the best economic policies cannot avoid it completely. The author critically reviews the methodological principles of Marx's value analysis and the best known interpretation of his value theory. He develops an interpretation of Marx focusing primarily upon the processes and relations that regulate social and economic reproduction under capitalism. When analysed from this angle, value theory is a theory of class and exploitation. The concept of value is useful because, among other reasons, it explains capitalist exploitation in spite of the predominance of voluntary market exchanges. The most important controversies in Marxian political economy are reviewed exhaustively, and new light is thrown on the meaning and significance of Marx's analysis and its relevance for contemporary capitalism.

Marxism Today

Essays on Capitalism, Socialism, and Strategies for Social Change
Author: Harry R. Targ
Publisher: Greenwood Publishing Group
ISBN: 9780275946043
Category: Political Science
Page: 215
View: 6123
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A revisionist examination of the collapse of communism, offering analysis of the reality of contemporary capitalism with new ideas about socialism and the socialist project.

Beyond Mainstream Explanations of the Financial Crisis

Parasitic Finance Capital
Author: Ismael Hossein-zadeh
Publisher: Routledge
ISBN: 1136190007
Category: Business & Economics
Page: 188
View: 9388
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This book provides a critique of the neoclassical explanations of the 2008 financial collapse, of the ensuing long recession and of the neoliberal austerity responses to it. The study argues that while the prevailing views of deregulation and financialization as instrumental culprits in the explosion and implosion of the financial bubble are not false, they fail to point out that financialization is essentially an indication of an advanced stage of capitalist development. These standard explanations tend to ignore the systemic dynamics of the accumulation of finance capital, the inherent limits to that accumulation, production and division of economic surplus, class relations, and the balance of social forces that mold economic policy. Instead of simply blaming the ‘irrational behavior’ of market players, as neoliberals do, or lax public supervision, as Keynesians do, this book focuses on the core dynamics of capitalist development that not only created the financial bubble, but also fostered the ‘irrational behavior’ of market players and subverted public policy. Due to its interdisciplinary perspective, this book will be of interest to students and researchers in economics, finance, politics and sociology.

New Spirits of Capitalism?

Crises, Justifications, and Dynamics
Author: Paul du Gay,Glenn Morgan
Publisher: Oxford University Press
ISBN: 0199595348
Category: Business & Economics
Page: 328
View: 1759
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This edited book brings together leading scholars from a range of disciplinary fields to offer the first comprehensive attempt to examine the explanatory power and reach of Boltanski and Chiapello's seminal text, The New Spirit of Capitalism, and to do so in relation to the development of neo-liberal capitalism, and in particular its culmination in the ongoing crisis since the financial collapse of 2007-8. Contributors show how the argument can be applied to avariety of empirical studies in order to develop new insights into the functioning and regulation of capitalism in the contemporary era.

Postkapitalismus

Grundrisse einer kommenden Ökonomie
Author: Paul Mason
Publisher: Suhrkamp Verlag
ISBN: 351874478X
Category: Political Science
Page: 500
View: 4357
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Drei Dinge wissen wir: Der Kapitalismus hat den Feudalismus abgelöst; seither durchlief er zyklische Tiefs, spätestens seit 2008 stottert der Motor. Was wir nicht wissen: Erleben wir eine der üblichen Krisen oder den Anbruch einer postkapitalistischen Ordnung? Paul Mason blickt auf die Daten, sichtet Krisentheorien – und sagt: Wir stehen am Anfang von etwas Neuem. Er nimmt dabei Überlegungen auf, die vor über 150 Jahren in einer Londoner Bibliothek entwickelt wurden und laut denen Wissen und intelligente Maschinen den Kapitalismus eines Tages »in die Luft sprengen« könnten. Im Zeitalter des Stahls und der Schrauben, der Hierarchien und der Knappheit war diese Vision so radikal, dass Marx sie schnell in der Schublade verschwinden ließ. In der Welt der Netzwerke, der Kooperation und des digitalen Überflusses ist sie aktueller denn je. In seinem atemberaubenden Buch führt Paul Mason durch Schreibstuben, Gefängniszellen, Flugzeugfabriken und an die Orte, an denen sich der Widerstand Bahn bricht. Mason verknüpft das Abstrakte mit dem Konkreten, bündelt die Überlegungen von Autoren wie Thomas Piketty, David Graeber, Jeremy Rifkin und Antonio Negri und zeigt, wie wir aus den Trümmern des Neoliberalismus eine gerechtere und nachhaltigere Gesellschaft errichten können.

Capitalism in the Age of Globalization

The Management of Contemporary Society
Author: Samir Amin
Publisher: Zed Books
ISBN: 9781856494687
Category: Business & Economics
Page: 158
View: 4674
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The author argues that each society that makes up the global economic system is not inevitably going to be assimilated into the globalization process. He asserts the need to negotiate the inter-dependence of each society with the global econony.

Critical Theory and the Crisis of Contemporary Capitalism


Author: Heiko Feldner,Fabio Vighi
Publisher: Bloomsbury Publishing USA
ISBN: 144113784X
Category: Political Science
Page: 152
View: 1217
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This volume reassesses the nature of the current global economic crisis and its implication for the 21st century, through the unique lens of Marx's theory of the value-form as the unconscious matrix of modern society. Going beyond orthodox Marxist and postmodernist accounts, the author offers fresh new readings of Marx, Benjamin, Foucault, and Â?iÂ?ek. Here he argues that capitalism has not only entered its greatest crisis since WWII, but has in fact reached its historical limit and is in terminal decline. In this light, the book seeks to answer how a rerun of Keynesian regulations could possibly resolve the crisis. It also inquires as to whether a Green New Deal might succeed when the gap between work to be had and work to be done widens, and what alternatives neo-Marxian approaches offer considering the failure of Marxism in the 20th century. This far-reaching, critical examination of the crisis not only builds on critical theory, but also offers new readings of key theorists that will appeal to anyone interested in political theory, critical theory, and political economy.

Siebzehn Widersprüche und das Ende des Kapitalismus


Author: David Harvey
Publisher: Ullstein eBooks
ISBN: 3843710716
Category: Social Science
Page: 384
View: 5399
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WORUM GEHT ES? Gibt es seit dem Ende des Kommunismus wirklich keine echten Alternativen zum Kapitalismus? David Harvey meint: Doch! Man muss allerdings das Wesen des Kapitalismus genau verstehen, um ihn durch einen revolutionären Humanismus ersetzen zu können, in dessen Zentrum nicht das Kapital, sondern der Mensch steht. Konkret untersucht Harvey die Anhäufung von Kapital, das fatale Wachstumscredo, den spekulativen Immobilienmarkt und den Raubbau an der Natur. Er beschreibt jedoch nicht nur Krisen, sondern zeigt auch Chancen auf. Denn gerade die Widersprüche im Kapitalismus können Anfangspunkte für neue politische und kulturelle Bewegungen sein. Die utopische Kraft dafür kommt aus den Städten. WAS IST BESONDERS? Eine fundierte, realitätsnahe Kapitalismuskritik und zugleich ein Manifest des Wandels – geschrieben von einem der führenden Sozialtheoretiker der heutigen Zeit. WER LIEST? • Jeder, der die globalen Machtverhältnisse kritisch sieht • Leser von Stéphane Hessel, Michael J. Sandel, David Graeber und Thomas Piketty

Capitalism and Its Alternatives


Author: Chris Rogers
Publisher: Zed Books Ltd.
ISBN: 1780327390
Category: Political Science
Page: 176
View: 3666
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The global economic crisis has catalysed debates about the merits of capitalism as a system for organizing production, distribution and exchange. Political elites have argued that capitalism is not fundamentally pernicious or crisis-prone and can be successfully reformed with the right set of policies. Conversely, many have argued that a wholesale change of attitude towards the status and creation of wealth in contemporary society is required if crises of this kind are to be prevented in the future. In Capitalism and Its Alternatives, Chris Rogers provides a critical introduction to theories of capitalism and to the forms of its crises in historical and contemporary contexts, as well as reflecting on the practice of anti-capitalism and the ways that economic and social relations are shaped, reshaped and resisted. Crucially, the book asks two key questions: What alternatives to capitalism exist? And by what processes and through what institutions might they be achieved?

The great transformation

politische und ökonomische Ursprünge von Gesellschaften und Wirtschaftssystemen
Author: Karl Polanyi
Publisher: N.A
ISBN: N.A
Category: Economic history
Page: 378
View: 3833
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The End of Diversity?

Prospects for German and Japanese Capitalism
Author: Kōzō Yamamura,Wolfgang Streeck
Publisher: Cornell University Press
ISBN: 9780801488207
Category: Business & Economics
Page: 401
View: 5861
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Kozo Yamamura and Wolfgang Streeck have gathered an international group of authors to examine the likelihood of convergence - to determine whether the global forces of Anglo-American capitalism will give rise to a single, homogeneous capitalist system. The chapters in this volume approach this question from five directions: international integration, technological innovation, labor relations and production systems, financial regimes and corporate governance, and domestic politics.