This article privileges a financial sector explanation for the persistent German trade surpluses of the past 15 years. More specifically, it explains the disruptive consequences of a long-running stagnation in domestic investment in the face of rising German savings, particularly at corporate...

Marx's and Keynes's analyses of capitalism complement each other well. In a rather general model including the public sector and international trade it is shown that the labour theory of value provides a sound foundation to reveal the factors influencing employment. Workers buy "necessaries" out...

This article demonstrates relationships that are transparent in Sraffa's standard system hold even when relative rates of profit vary persistently among industries. Even with such variations, total constant capital, total variable capital, total surplus value, and the rate of profits are...

National competitiveness, macro-competitiveness, and competitiveness of states; those seemingly simple and common terms, are actually highly controversial. The interpretation of historical backgrounds and basic postulates which have been the foundations of methods for the measurement of...

This paper attempts to clarify how the European economic crisis from 2007 onwards can be understood from the perspective of a Marxian monetary theory of value that emphasizes in-trinsic, structural flaws regarding capitalist reproduction. Chapter two provides an empirical description of the...

Presently, entrepreneurship and innovation within market economies emphasise hedonic conceptualisations of value, in which consumers, on the one hand, are compelled to maximise their utility (the use and usefulness) from any given object (good or service) and producers, on the other hand, are...