In the standard Okishio-Morishima approach, the existence of profits is proved to be equivalent to the exploitation of labor. Yet, it can also be proved that the existence of profits is equivalent to the “exploitation†of any good. Labor and commodity exploitation are just different...

The recent theoretical works of the authors mentioned in the title of the paper provide thorough insights into the workings of contemporary capitalism. Derivatives are the key issue involved here. They comprehend financialization as a development within, rather than a distortion of, capitalist...

This paper argues that Marx’s law of the falling rate of profit applies to the problematic of choice of technique in the context of accumulation of capital, and not to the problematic of choice of technique in the context of technological change or new innovation as such. In this context,...

Henri de Man is the author of the dissenting “Au-delà du Marxisme†(1926) and of the Belgian Plan du Travail (Labor Plan) of 1933. Later he became a Belgian social-democratic leader. He published between 1931 and 1935 18 economic articles in the Bulletin d’Information et de...

An analysis of Marx’s alienation theory is the starting point for establishing if alienation would actually be cancelled in a system of self-managed firms. As Marx held that alienation comes at various degrees and is strongest in capitalistic systems with hired labor, the author argues...

In recent decades, financial securities have become a dominant form of private property, accounting for much of the growth of wealth around the world. But what kind of property are financial securities? What are the sources of the income they provide, and what are the social relations that...

This article further develops the notion of a turnover continuum so as to better comprehend the logical structure of Capital. The concept is modified to include surplus value and the interconnectedness of multiple industries. By bringing together the value of labor-power, the monetary expression...

This work employs the methodology developed by Thomas Weisskopf in the late 1970s to analyze the role of cyclical declines in the profit rate as the cause of crises in the United States during the postwar period, and contrasts the results with Weisskopf’s and other subsequent works he...

Inspired by the interplay between social structure of accumulation theory and labor process theory, this paper is to specify the particular mechanism that labor institutions take in accomplishing China’s rapid capital accumulation in the reform era. The paper starts by proposing a...

This article pays homage to E. K. Hunt who was a founding member of URPE who helped build chapters on several campuses in western states. Much of the author’s own research work over the past forty years was an attempt to strengthen criticisms Hunt voiced long ago about markets and blind...