This book constitutes an overview of recent developments in political economy in general, and Marxist value theory in particular. The implications of value theory for bank credit, inflation and deflation are fully explored

Winner of The Deutscher Memorial Prize 2004. In a completely reworked edition of his classic (1991) volume, Michael A. Lebowitz explores the implications of the book on wage-labour that Marx originally intended to write. Focusing upon critical assumptions in Capital that were to be removed in...