The Hard Steps model is applied to argue that the Industrial Revolution (IR) heralded a terminal phase of human existence. Assuming six hard steps, the Kolmogorov-Smirnov method is used to pinpoint the start of the IR to ≈ year 1700. Once these hard steps were cleared, the global economy...

Background and Objective: This paper posits that market-oriented economies foster narcissistic behavior due to their focus on profit, private ownership, competition, and free markets. The research presented demonstrates that while overall levels of narcissism remain stable, certain political...

This paper examines the potential for automation and artificial intelligence (AI) to induce a broader economic decline, impacting not only labor but also the owners of capital and advanced technology. While automation has traditionally favored skilled over unskilled workers, recent advancements...

This paper proposes a theory of the mark-up that is embedded in a circuit model of the capitalist mode of production. The model and the theory are built on Keynes's principle of effective demand, Graziani's monetary theory of production and Pivetti's monetary theory of distribution. The...

According to the economics Nobel laureate, Kenneth Arrow, "… capitalism is a flawed system. It probably has the same virtues as Churchill attributed to democracy: It’s the worst system except for any other." Thus, capitalism is a necessary evil, but it is not inherently bad. I argue that...

Economic systems face critical challenges, including widening income inequality, unemployment driven by automation, mounting public debt, and environmental degradation. This study introduces Economocracy as a transformative framework aimed at addressing these systemic issues by integrating...

Economic development under capitalism is uneven, both socially and spatially. The existing literature, both mainstream social sciences and Marxist political economy, generally separates social inequality (inequality among classes and class-fractions) from spatial inequality. It also pays...

To progress beyond the orthodoxy vs. skepticism divide, Marxist value theory must endorse both qualitative research into the social relations underlying economic phenomena and careful quantitative modeling. It must also accept scientific conclusions, wherever they may lead. New investigations...

Taking German Cameroon as an example, this article uses the concept of the colonial intermediary to analyze Africans' role in colonial capitalism. While researchers have shown that the colonial state depended on Africans, the importance of African intermediaries in European trade has hardly been...