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A History of Marxian Economics, Volume 2: 1929-1990 by Michael Charles Howard, John Edward King PDF

By Michael Charles Howard, John Edward King

ISBN-10: 0691604134

ISBN-13: 9780691604138

This moment quantity completes a serious historical past of the social, political, and theoretical forces in the back of Marxian economics--the in simple terms paintings in English to supply such accomplished remedy. starting with Marxian analyses of the good melancholy and Stalinism, it explores the theories built to give an explanation for the "long boom" in Western capitalism after the second one global struggle. Later chapters care for post-Leninist theories of imperialism and carrying on with controversies in worth idea and the idea of exploitation. After outlining contemporary paintings at the "second slump," the combination of rational-choice conception into Marxism, and the political financial system of socialism, the booklet concludes with a evaluation and assessment of Marxian conception over the complete interval on account that Marx's dying. compliment for the 1st quantity: "Howard and King have performed a superb job... One comes away with the impact of Marxian economics being a colourful topic, appropriate to the issues of those occasions and worthy in useful matters."--Meghnad Desai, the days larger schooling Supplement

Originally released in 1992.

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Extra info for A History of Marxian Economics, Volume 2: 1929-1990 (Princeton Legacy Library)

Sample text

The anarchy of capitalist production had long been regarded by Marxists as a major cause of economic crisis. Since investments are undertaken by individual capitalists in isolation from each other, with no overall plan to guide their decisions or to render them consistent with each other, over­ production in particular sectors is almost unavoidable and is likely to spill over into other branches of industry, giving rise to general overproduction. The exact mechanism by which this comes about was never fully specified.

Sweezy, Theory, pp. 269-86; cf. A. M. Sweezy, Monopoly Capital (Harmondsworth: Penguin, 1966), and below, Ch. 6. Moszkowska, Zur Kritik Moderner Krisentheorien, pp. 26, 102; cf. Moszkowska, Zur Dynamik des SpatkapitaIismus (Zurich: Verlag 'der Aufbruch', 1943), and Corey, Decline of American Capitalism, pp. 168-9. Similar ideas were expressed by the Soviet economist E. B. Day, The 'Crisis' and the 'Crash': Soviet Studies of the West (1917-1939) (London: New Left Books, 1981), pp. 213-8. Bauer, Zwischen, pp.

53 Elements of a disproportionality theory are found in both Otto Bauer's and Fritz Naphtali's accounts of capitalist rationalisation in the 1920s. 54 According to Friedrich Pollock, state support for ailing monopolists further weakened the system's automatic self-stabilising capacities. It introduced a form of 'guaranteed capitalism', in which the regulatory power of competition, operating through the inflicting of ruinous losses upon unsuccessful enterprises, was no longer effective. 55 It also indicated a serious weakness in the General Theory, Pollock believed.

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A History of Marxian Economics, Volume 2: 1929-1990 (Princeton Legacy Library) by Michael Charles Howard, John Edward King


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