Empirical estimates derived in line with the Marxist framework are essential to fully address several topics, from the dynamics of profit and exploitation rates to unequal exchange, crisis and strategies. Edward Ochoa presented and implemented a pioneering practical proposal to perform such...

The paper provides an interpretation of Lenin’s earliest contributions (made in 1893–1899) to the study of economic development. In the 1890s, Lenin joined young Marxist intellectuals in their fight against the Narodnik economists, who represented the approach prevalent among the Russian...

The task of this paper discusses the role of Marx in 20th Century and culture today. An analysis of contemporary political economy Studies works that with the new global crisis of capitalism, a new interest in Karl Marx’s works has emerged. Karl Marx—German philosopher, economist, and...

The labor theory of value, originated in the classics and reformulated by Marx, has found support in numerous empirical works during the last thirty years. In many economies, sectors in monetary terms are highly correlated with them in terms of labor values. In his book Capital as Power (2009),...

La teoría del valor trabajo, originada en los clásicos y reformulada por Marx, ha encontrado apoyo empírico en numerosos trabajos en los últimos treinta años. En diversas economías los sectores en términos monetarios están altamente correlacionados con los mismos en términos de valor...

After a critical review of conventional approaches to sustainability, this paper contrasts orthodox (neoclassical) economic theory with a political economy approach, arguing that such an approach focusing on the historically specific organizational form of production and the inherent...

Banks in bank-based financial systems tend to engage in long-term lending that requires substantial own capital to guarantee solvency. In market-based systems, in contrast, they tend to undertake short-term lending that requires adequate reserves to guarantee liquidity. Theoretical support for...