The old theories of imperialism attempted to explain the phenomenon of the militarization of the industrial nations and their conflict over colonies that led to World War I. It was the rise of monopoly capitalism, the emergence of finance capital and the control over the state that led...

This paper compares Marx's economics with those by Sraffa, Keynes, Kalecki and Minsky. The paper takes an "ex post" view on the matter and rather looks at the output side of the respective authors, but not at the input side. This means no attempt is made at studying in a systematic way, if and...

In this paper, I investigate the phenomenon of long waves of capitalist development from two perspectives. First, I look for evidence of long waves of economic growth taking the dates for turning points of long waves from the historical literature (Mandel, 1995). Using historical data for 20...

Karl Marx's magnum opus, Das Kapital, presents an analysis of the long run dynamics of a mature capitalist economy. The analysis is conducted at two primary levels of abstraction - "capital in general" (where competition between individual capitals is abstracted from) and "many capitals" (where...

Austrian economist Ludwig Mises's central role in the socialist calculation debates has been consensually acknowledged since the early 1920s. Yet, only recently, Nemeth, O'Neill, Uebel, and others have drawn particular attention to Mises's pertinent encounter with one of the most colorful...

The old theories of imperialism attempted to explain the phenomenon of the militarization of the industrial nations and their conflict over colonies that led to World War I. It was the rise of monopoly capitalism, the emergence of finance capital and the control over the state that led...

In this Working Paper, also an entry for the International Encyclopedia of Public Policy, John King begins with a brief discussion of the meaning of ‘socialism’ and ‘social democracy,’ from their nineteenth-century origins down to the present day. He then discusses socialist economic...

The manufacturing sector has traditionally been regarded, particularly in development economics and in the Kaldorian literature, as having a ‘special role’ as an engine of growth. This article examines Marx’s approach to manufacturing, and the extent to which manufacturing could be...

This paper compares Marx's economics with those by Sraffa, Keynes, Kalecki and Minsky. The paper takes an 'ex post' view on the matter and looks at the output side of the respective authors, but not at the input side. This means no attempt is made to study in a systematic way whether and to what...

The paper sketches a coherent history of the choice of the measure standard from Adam Smith's Wealth of Nations to Sraffa's Production of Commodities. As neither the Smithian labour commanded unit nor the Ricardian-Marxian labour embodied one provide a general solution to the dilemma concerning...