We examine the paradigm shift from that of the transformation model to that of stochastic profit models. Some of the anomalies undermining the transformation model are given graphically. In the last two sections we present volume II of Capital as an alternative starting point for thinking about...

"Paul Cockshott, using the dual lenses of Marxist economics and technological advance, provides a critical perspective of human history, from pre-agricultural societies to the present. In "How the World Works," Cockshott connects scientific, economic, and societal strands to produce a detailed...

The article attempts of apply econophysics concepts to the Eurozone crisis. It starts by examining the idea of conservation laws as applied to market economies. It formulates a measure of financial entropy and gives numerical simulations indicating that this tends to rise. We discuss an analogue...