Can cost-reducing, technical change lead to a fall in the long run rate of profit if class struggle manages to keep the rate of exploitation constant? In this paper we demonstrate, in a general circulating capital model, that if (a) the technical change is capital-using labor-saving (CU-LS), (b)...

This study offers a model that formalizes some of Marx’s insights about how capital accumulation generates contradictions that may reproduce never-ending cycles of booms and slumps. The model takes the reserve army of labor as a regulator of the distribution of class-power over the business...

The theory of capital as power (CasP) is radically different from conventional political economy. In the conventional view, mainstream as well as heterodox, capital is seen a 'real' economic entity engaged in the production of goods and services, and capitalism is thought of as a mode of...

The theory of capital as power (CasP) is radically different from conventional political economy. In the conventional view, mainstream as well as heterodox, capital is seen a “real” economic entity engaged in the production of goods and services, and capitalism is thought of as a mode of...

Purpose - The neo-Kaleckian model follows the ideas of Marx, Keynes and Kalecki, that investment is a key influencing factor in the dynamics of the capitalist mode of production. Through the discussion of different forms of investment decision function, this paper constructs the analysis...

The paper serves as an introduction to the RuJE special issue on the circulation of economic ideas between Russia and the West. This circulation is a contentious issue, especially among Russian economists. In this article a specific pattern of West-Russia-West transfer is investigated. The...

Mikhail Tugan‑Baranovsky was one of the most prolific Russian economists at the turn of the 19–20th centuries. His thought was largely influenced by Western ideas, like most of his fellow Russian economists. But Tugan‑Baranovsky’s theories in turn also influenced Western economic thought...

The paper provides an interpretation of Lenin’s earliest contributions (made in 1893–1899) to the study of economic development. In the 1890s, Lenin joined young Marxist intellectuals in their fight against the Narodnik economists, who represented the approach prevalent among the Russian...

This paper investigates whether the parameters of labor demand functions are sensitive to alternative methods of estimation. The assumption that the production technology is of the Generalized Leontief type implies that the demand system can be estimated by analyzing cross-section differences in...

We investigate the effect of Reformed Protestantism, relative to Catholicism, on preferences for leisure and for redistribution and intervention in the economy. With a Fuzzy Spatial Regression Discontinuity Design, we exploit a historical quasiexperiment in Western Switzerland, where in the 16th...

This paper examines how the competing ideological belief systems of Adam Smith and Karl Marx have affected economic governance, conduct businesses, and transactions today. This paper adopts a comparative approach to assess the strength and weakness of the ideologies of both philosophers while...

This article appropriates Ricardo and Marx as progenitors of one of the contemporary CLS approaches to law and political economy. In the first part, I look at Ricardo and Marx through a presentist lens. I ignore their allegiance to the labor theory of value and restate what I think is important...

This interview was commissioned in October 2019 for a special issue on ‘Accumulation and Politics: Approaches and Concepts’ to be published by the Revue de la régulation. We submitted the text in March 2020, only to learn two months later that it won’t be published. The problem, we were...

This interview was commissioned in October 2019 for a special issue on 'Accumulation and Politics: Approaches and Concepts' to be published by the Revue de la régulation. We submitted the text in March 2020, only to learn two months later that it won't be published. The problem, we were...

Purpose - In the current literature, there is little systematic research on the relationship among adjustment of the income distribution, change in economic structure and improvement of macroeconomic efficiency. Design/methodology/approach - This paper expands Marx's reproduction schema into the...

The following paper presents a model that indicates the relevance of intra-capitalist competition when studying the evolution of the rate of profit. The model explains how the tendency of the rate of profit to fall may emerge in a form of competition not usually studied by previous Marxian...

In this paper, I develop a Marxian model of market for money capital populated by capitalists equipped with equal money capital endowment but with heterogeneous linear production technology. Due to a maximization of return on equity, capitalists with relatively weak technology, yielding profit...

This article surveys computational approaches to classical-Marxian economics. These approaches include a range of techniques - such as numerical simulations, agent-based models, and Monte Carlo methods - and cover many areas within the classical-Marxian tradition. We focus on three major themes...

Due to their complex features, structured financial products can hurt the average investor. Are certain investors particularly vulnerable? Using account-level transaction data of retail structured funds, we show that the rich (sophisticated) benefit from complexity at the expense of the poor...

1 Introduction and major propositions -- Part I Foundations -- 2 Production and labor -- 3 Probabilistic framework -- 4 Labor content – properties and postulates -- Part II Results -- 5 Law of decreasing labor content -- 6 Wages and class divisions -- 7 Limits to growth and accumulation --...

"This book introduces Marx as a political philosopher to the 21st-century reader. Comprehensive, accessible, and engaging in equal parts, it presents an unconventional reinterpretation of class struggle. Maffettone sheds light on Marx the individual, the intellectual, the political leader and...

Introduction: Rethinking Marx in Latin America / Karen Benezra -- Property and history. On subsumption as form and the use of asynchronies / Massimiliano Tomba -- "I am he": a history of dispossession's not-yet-present in colonial Yucatán / David Kazanjian -- Latin American Marxism: history and...

Chapter 1: Introduction -- Chapter 2. Capital -- Chapter 3. Credit -- Chapter 4. The Category of Capitalisation -- Chapter 5. Fictitious Capital -- Chapter 6. Speculative Capital -- Chapter 7. Private Banks -- Chapter 8. The Financial System and the State -- Chapter 9. Capital and the World...

"Gramsci Contested is a map with which one can orient oneself in the many readings, debates and controversies that surround Gramsci's work. From the judgements of his contemporaries to the peak of his fame and the apparent decline of his star in the 1990s, we are guided through the entire...

Historical materialism -- Marxism, class and the service industry -- Service labour and value theory -- Retail and the circulation of commodities -- Monopoly capital and the sales effort -- Two stages of production and realisation -- A Marxist analysis of outsourcing -- Cleaning workers and...