This article describes Keynes's early analysis of replacement investment and his subsequent neglect of the subject, especially by his followers. It goes on to explain how this deficiency helped to mislead later economists who attempted to use Keynes as a guide for economic policy and theory and...

This article addresses the internal contradictions of American imperialism. By emphasizing imperial adventures and the buildup of the military without paying serious attention to the underlying economic conditions, the United States may have difficulty maintaining its military domination.

This paper builds upon the analysis of constant capital as a social relation. It begins by developing the relationship between constant capital and the social divi sion of labor. Next, it investigates the manner in which Marx has treated this subject. To do so, it discusses the alternative...

This paper shows how Marx extended his value theory beyond a mechanistic summing up of labor values to include the effect of scarcity, financial shocks, and technical change. This theory had a subjective and an objective dimension. I demonstrate how Marx's crises theory takes account of scarcity...

This article investigates the implications of devalorisation of fixed capital in Marx's value theory. It shows why an exact, algebraic value theory is impossible. It also indicates how analysis of devalorisation provides a basis for understanding the nature of crises. Copyright 1999 by Oxford...