New Book: Marx’s Capital – An Unfinishable Project?

Edited by Gerald Hubmann & Marcel van der Linden. From Haymarket Books: For almost 150 years, scholars have been debating how to interpret Marx’s seminal work Capital while they had access to just some of Marx’s economic manuscripts. This changed in 2013 with the publication of all the known economic writings of Marx and Engels … More New Book: Marx’s Capital – An Unfinishable Project?

Claiming Too Much for Exchange

By Bill Dunn, The theories of monopoly capitalism and unequal exchange make important contributions to economic theory. They emphasize, respectively, how big companies can use their power over consumers and smaller-firm suppliers, and how rich countries can exploit poorer ones. Capitalist exchange is not a realm of freedom and equality. However, both theories continue to … More Claiming Too Much for Exchange

Remembering Erik Olin Wright: A Real Utopian in Theory and Praxis

By Michael Burawoy, Erik Olin Wright died just after midnight on January 23, in Milwaukee’s Froedtert Hospital. He was seventy-one years old. The world lost one of its great social scientists, practitioner as well as thinker. He died as he lived — to the fullest. Diagnosed with acute myeloid leukemia the previous April, throughout the subsequent ten … More Remembering Erik Olin Wright: A Real Utopian in Theory and Praxis

The Unreal Basis of Neoclassical Economics

By Al Campbell, Ann Davis, David Fields, Paddy Quick, Jared Ragusett and Geoffrey Schneider American Review of Political Economy – original version Introduction Ten years after the financial crisis, we still find mainstream economists engaging in overly simplistic analysis that does not accurately capture the dynamics of the real world. People studying economics need to … More The Unreal Basis of Neoclassical Economics

New Book: The Rise and Decline of Patriarchal Systems

By Nancy Folbre. From Verso: In this groundbreaking new work, Nancy Folbre builds on a critique and reformulation of Marxian political economy, drawing on a larger body of scientific research, including neoclassical economics, sociology, psychology, and evolutionary biology, to answer the defining question of feminist political economy: why is gender inequality so pervasive? In part, … More New Book: The Rise and Decline of Patriarchal Systems

New Book: The Evolution of Economic Ideas and Systems – A Pluralist Introduction

By Geoffrey Schneider. From Routledge: In order to fully understand the evolution and future growth of economic systems, we must draw on the lessons of economic history. The 2008 Financial Crisis, for example, mirrored past economic meltdowns with uncanny accuracy. Just like the Great Depression of the 1930s and the Savings and Loan Crisis of … More New Book: The Evolution of Economic Ideas and Systems – A Pluralist Introduction

Was the gravedigger thesis central to Marx’s theory of the working class?

By Matt Vidal, Received wisdom holds that history has proven Marx’s theory of the working class to be wrong. This claim hinges on the so-called gravedigger thesis. According to leading industrial relations scholar Paul Edwards, central to Marx’s theory of the working class is the prediction that “that there is an inherent tendency for the … More Was the gravedigger thesis central to Marx’s theory of the working class?