Tema: Økonomisk teori
- Økonomisk teori
- Joseph Choonara: Feedback: PostCapitalism: A reply to Pete Green
International Socialism Journal nr. 150, apr 16 – side 203
Note: It is always a pleasure to see Pete Green’s name listed in the contents of International Socialism. I personally learnt a lot about Karl Marx’s theory of value from reading Pete’s early contributions to this journal and what he has to say is always illuminating, even if the thrust of his recent piece was to critique my review of Paul Mason’s Postcapitalism.
- Jane Hardy: Radical economics, Marxist economics and Marx’s economics
International Socialism Journal nr. 149, jan 16 – side 71
Note: The major global crises of the mid-1970s and 2008-9 provoked debates among the ruling class about the best economic policies to manage capitalism. For socialists and activists the question was different, and debates about whether and to what extent capitalism could be reformed to avert crisis and instil a more humane and fair system became even sharper.
- Peter Green: Feedback: Paul Mason’s PostCapitalism: A response to Joseph Choonara
International Socialism Journal nr. 149, jan 16 – side 197
Note: It came as no surprise that International Socialism could publish, in the last issue, such a dismissive review of Paul Mason’s fascinating and thought-provoking new book. Certainly Mason has moved a considerable distance from the Leninism of his youth and now advocates a politics which uneasily combines elements of left reformism with an autonomist focus on the emergence of alternative forms of cooperative endeavour within contemporary capitalism.
- Joseph Choonara: Paul Mason’s PostCapitalism: Brand new, you’re retro
International Socialism Journal nr. 148, okt 15 – side 161
Note: A review of Paul Mason, PostCapitalism: A Guide to Our Future (Allen Lane, 2015), £16.99
Some 45 years ago futurologist Alvin Toffler published a breathless evocation of a world transformed. Visions of talking dolphins and a rather disturbing fixation with erotic cyborgs fill the pages of his work, Future Shock.
- Tomáš Tengely-Evans: Piketty and Marx
International Socialism Journal nr. 143, jul 14 – side 177
Note: A review of Thomas Piketty, Capital in the Twenty-First Century (Harvard University Press, 2014), £29.95.
In January, Oxfam’s “Working for the Few” report tore apart the idea that wealth “trickles down” and revealed that just 85 billionaires now own more than the poorest half of the world’s population. In the past year alone Britain’s 1,000 richest individuals have seen their wealth increase by 15 percent from £449 billion.
- Joseph Choonara: Financial times
International Socialism Journal nr. 142, apr 14 – side 111
Note: A review of Costas Lapavitsas, Profiting Without Producing: How Finance Exploits Us All (Verso, 2013), £20
In the substantial body of Marxist literature emerging in the wake of the economic crisis that began in 2007-8, two broad positions have been evident.
- Brian O’Boyle: Cracking the crisis – Financial conspiracy or falling rate of profitability?
Irish Marxist Review (Irland) nr. 7, sep 13 – side 17
Note: The current economic crisis is now into its sixth year. Around the world tens of millions of jobs have been lost, pensions have been destroyed and essential services have been routed. This has been the most visible consequence of the economic devastation, but what is ultimately causing the crisis?
- Michael Roberts: What’s wrong with the Keynesian answer to austerity?
Socialist Review nr. 379, apr 13 – side 22
Note: As austerity measures bite while the economy continues to flatline, arguments for a Keynesian response to the recession are gaining traction. Marxist economist Michael Roberts casts a critical eye over the Keynesian case, arguing that it misunderstands the causes of capitalist crisis.
- Brian O’Boyle: Keynesianism and the Crisis
Irish Marxist Review (Irland) nr. 3, sep 12 – side 11
Note: The economic crisis that gripped the world in 2008 shows no signs of abating, with growth and accumulation generally stuck below their pre-recession levels. The global debt mountain has also reached staggering proportions, whilst investment and employment continue to stagnate. Increasingly commentators realise that this is no ordinary recession.
- Joseph Choonara: Review: Nude, shrewd but sometimes crude
International Socialism Journal nr. 134, apr 12 – side 220
Note: Steve Keen, Debunking Economics: The Naked Emperor Dethroned, 2nd edition (Zed, 2011), £18.99
When I first became interested in Marxist political economy, I longed for a critique of mainstream economics written by someone who was thoroughly familiar with the discipline. Heterodox economist Steve Keen has produced just such a work.
- Mona Dohle: Economy class: Does money make the world go round?
Socialist Review nr. 367, mar 12 – side 35
Note: Money is a key factor in explaining inequalities in the world today. Rich people can pay for the best healthcare, education and lifestyle. It seems as though “money makes the world go round”. For those who want to challenge inequality, money is therefore an obvious target.
- Guglielmo Carchedi: Behind and beyond the crisis
International Socialism Journal nr. 132, okt 11 – side 121
Note: The 2007 financial crisis has reignited the discussion on crises, their origin and possible remedies. At present the most influential thesis on the left sees the crisis as caused by underconsumption and recommends Keynesian policies as a solution.
- Joseph Choonara: Once more (with feeling) on Marxist accounts of the crisis
International Socialism Journal nr. 132, okt 11 – side 157
Note: A review of David McNally, Global Slump: The Economics and Politics of Crisis and Resistance (Spectre, 2011), £12.95; and Leo Panich, Greg Albo and Vivek Chibber (eds), Socialist Register 2011: The Crisis This Time (Merlin, 2011), £25
- Joseph Choonara: Decoding capitalism
International Socialism Journal nr. 129, jan 11 – side 137
Note: A review of David Harvey, The Enigma of Capital (Profile, 2010), £14.99
David Harvey ranks today among the world’s most renowned Marxist theoreticians. His fame is thoroughly deserved. Few red professors have his gift for presenting sophisticated ideas with such clarity or his commitment to exploring the central questions of the moment.
- Alex Callinicos: Book reviews: Intellectual weapons
International Socialism Journal nr. 129, jan 11 – side 223
Note: Ha-Joon Chang, 23 Things They Don’t Tell You About Capitalism, (Allen Lane, 2010), £20.00
Ha-Joon Chang is an economist based at Cambridge who has made a reputation as a critic of the free-market orthodoxy in development economics. Thus in Kicking Away the Ladder he showed how the leading Western capitalist states demand that developing economies abjure all the protectionist methods that they themselves had used to industrialise in the first place.
- Gonzalo Pozo: Reassessing the permanent arms economy
International Socialism Journal nr. 127, jul 10 – side 111
Note: In his 1938 Transitional Programme (entitled “The Death Agony of Capitalism and the Tasks of the Fourth International”), Leon Trotsky had predicted an imminent collapse of the Soviet Union and an equally imminent crisis of Western capitalism. However, the world landscape after the war was fundamentally different, if not diametrically opposed to the one anticipated by Trotsky.
- Joseph Choonara: Book review: Economic development
International Socialism Journal nr. 127, jul 10 – side 199
Note: Dimitris Milonakis and Ben Fine, From Political Economy to Economics: Method, the Social and the Historical in the Evolution of Economic Theory (Routledge, 2009), £33.99
Dimitris Milonakis and Ben Fine, From Economics Imperialism to Freakonomics: The Shifting Boundaries between Economics and other Social Sciences (Routledge, 2009), £31.99
These two books are a genuine achievement in Marxist scholarship. The second deservedly won the authors the 2009 Isaac and Tamara Deutscher Prize. Together they form a timely examination of the history of economic thought and its relationship to wider social theory.
- Chris Harman: Not all Marxism is dogmatism: a reply to Michel Husson
International Socialism Journal nr. 125, jan 10 – side 95
Note: Michel Husson has criticised a number of Marxist economists, including myself, in the most stringent manner.1 He writes that:
The crisis has given rise in recent months to a series of contributions characterised by a counterproductive and discouraging dogmatism…What these contributions have in common are references to the orthodox interpretation of the law of the tendency of the rate of profit to fall.
- Guglielmo Carchedi: Zombie Capitalism and the origin of crises
International Socialism Journal nr. 125, jan 10 – side 113
Note: This is the second in a series of responses to Chris Harman’s last book, Zombie Capitalism: Global Crisis and the Relevance of Marx. It was written shortly before Chris’s death.
- Andrew Kliman: Pinning the blame on the system
International Socialism Journal nr. 124, okt 09 – side 85
Note: This is the first in a series of responses to Chris Harman’s latest book, Zombie Capitalism: Global Crisis and the Relevance of Marx.
- Jonny Jones: Book review: Zombie Capitalism
Socialist Review nr. 338, jul 09 – side 25
Note: Chris Harman, Bookmarks Publications; £16.99
Lenin once wrote of politics, "There are decades when nothing happens; and there are weeks when decades happen." For people around the world, rich and poor, young and old, this statement could rarely have rung more true than late in 2008 when the economic orthodoxy came down to earth with an almighty bump.
- Feiyi Zhang: Book Review: Laying the groundwork
International Socialism Journal nr. 121, jan 09 – side 181
Note: Marcello Musto (ed), Karl Marx’s Grundrisse: Foundations of the Critique of Political Economy 150 Years Later (Routledge, 2008), £65
The current global financial meltdown highlights the need to both grasp and apply Karl Marx’s analysis of the crisis-prone and exploitative capitalist economy. The Grundrisse is a manuscript in which Marx elaborated his plan for his major work, Capital, and developed his understanding of the central characteristics of capitalism.
- Chris Harman: To sider af John Maynard Keynes
Socialistisk Arbejderavis nr. 284, dec 08 – side 14
Note: Økonomer på både højre- og venstrefløjen fremhæver Keynes som svaret på krisen. Men når nu hans teorier kun gør meget lidt for at udfordre kapitalismens jerngreb, er det så ikke på tide, at venstrefløjen erkender hans svagheder?
- Anindya Bhattacharyya: History of economics: The ruling class are running out of answers
Socialist Worker nr. 2127, nov 08 – side 6
Note: In the last part of our series Anindya Bhattacharyya argues that neither Keynes nor the neoliberals can solve the crisis
- Anindya Bhattacharyya: History of economics: How the cover-up of exploitation began
Socialist Worker nr. 2126, nov 08 – side 6
Note: In the second part of our series on economics Anindya Bhattacharyya shows how the ruling class rewrote their economic theories as capitalism developed
- Judith Orr: John Maynard Keynes – the second coming
Socialist Review nr. 330, nov 08 – side 4
Note: Politicians and economists across the world are dusting off their copies of the works of economist John Maynard Keynes. Suddenly the free market needs rescuing and state intervention appears to be the only solution to the crash.
- Joseph Choonara: The value of money
Socialist Review nr. 330, nov 08 – side 15
Note: How do the billions wiped off the stock market relate to the rest of the capitalist system? Joseph Choonara goes back to Karl Marx to explain.
- Chris Harman: In Perspective: Two faces of John Maynard Keynes
Socialist Review nr. 330, nov 08 – side 21
Note: Economists, both left and right, are championing Keynes as the answer to the crisis. Since his theories do little to challenge the fundamental grip of capitalism, isn't it time for those on the left to recognise his flaws?
- Anindya Bhattacharyya: History of economics: Discovering the source of wealth
Socialist Worker nr. 2125, nov 08 – side 6
Note: In the first part of our new series on the history of economics, Anindya Bhattacharyya examines the theories of Adam Smith and David Ricardo
- Jørn Andersen: Krise-tema: Krise-ABC for socialister
Socialistisk Arbejderavis nr. 280, jul 08 – side 10
Note: Hvad betyder krise? I en kapitalistisk økonomi er der to former for krise: Cykliske kriser opstår med jævne mellemrum. Bag dem ligger en mere grundlæggende profitratekrise.
- Chris Harman: The rate of profit and the world today
International Socialism Journal nr. 115, jul 07 – side 141
Note: The “tendency of the rate of profit to fall” is one of the most contentious elements in Karl Marx’s intellectual legacy.1 He regarded it as one of his most important contributions to the analysis of the capitalist system.
- Joseph Choonara: Review: Marx's "transformation" made easy
International Socialism Journal nr. 115, jul 07 – side 216
Note: Andrew Kliman, Reclaiming Marx’s “Capital”: A Refutation of the Myth of Inconsistency (Lexington, 2007), £17.99
- Judy Cox: Where Capital came from
International Socialism Journal nr. 106, mar 05 – side 185
Note: A review of Isaac Ilyich Rubin: "A History of Economic Thought" (Bertram), £19.99
- Michael Kidron: A Permanent Arms Economy (1967)
Note: The background to the article reprinted here is the 'long boom' of western capitalism during the 1950s and 1960s. It first appeared in International Socialism journal 1:28 (Spring 1967).
Alt. url: vorhaug.net
- Chris Harman: Galehusets økonomi. Kapitalismen og markedet i dag (norsk)
Note: Oversat fra "Economics of the Madhouse" (Bookmarks, 1995)
Alt. url: Køb den engelske udgave på Forlaget Modstand.org
- Judy Cox: Can capitalism be sustained? (David Harvey: "The Limits to Capital")
International Socialism Journal nr. 86, mar 00 – side 139
Note: David Harvey is well known as the author of the influential 'The Condition of Postmodernity' and before that as a champion of Marxist economics. The publication of a new edition of 'The Limits to Capital' marks the revival of interest in Marxist accounts of capitalism.
- Tom Christiansen: Jesper Jespersen: “Økonomi og virkelighed – Fem økonomiske ‘sandheder’ til debat”: Angreb på liberalismen
Socialistisk Revy nr. 10, dec 98 – side 24
Note: Det er to år siden, at Jesper Jespersen i sin bog “Økonomi og virkelighed” angreb de liberalistiske økonomer – også kaldet neoklassikerne – for at være skyld i, at Europa de sidste 20 år har haft en stigende arbejdsløshed. Dengang vakte bogen ikke så stor opmærksomhed.
- Judith Orr: Making a comeback: the Marxist theory of crisis
International Socialism Journal nr. 79, jun 98 – side 63
Note: A central aspect of Marx's work was his explanation of why economic crises are endemic in capitalism. Judith Orr reviews a new account of this analysis
- Rob Hoveman: Financial crises and the real economy
International Socialism Journal nr. 78, mar 98 – side 55
Note: Rob Hoveman restates the Marxist account of how financial crashes and industrial slumps are linked, taking his example from the fate of the Tiger economies.
- Ole Mølholm Jensen: Hvad skaber arbejde
Socialistisk Arbejderavis nr. 161, jun 97 – side 4
Note: Metoden til at skabe flere arbejdspladser på, fremstilles ofte af regeringen som en tostrenget indsats.
- Chris Harman: The crisis of bourgeois economics
International Socialism Journal nr. 71, jun 96 – side 3
Note: Mainstream economics has suffered a double blow in the last 30 years. First the post-war consensus that government intervention could offset recessions, formed around the work of John Maynard Keynes, was blown apart by the resurgent economic crises of the 1970s. But now the free market dogma which replaced Keynesian economics has proved equally incapable of either explaining capitalism's continuing instability or providing a strategy for overcoming it.
Chris Harman examines the failure of establishment economic thought and charts the dilemma with which it faces both Labour and Tory politicians.
- Martin B. Johansen: Marxisme i hverdagen: Koster lønstigninger arbejdspladser?
Socialistisk Arbejderavis nr. 112, feb 95 – side 9
Note: En jævnligt tilbagevendende påstand er, at hvis de folk, der er i arbejde, skal have mere i løn, så vil det gå ud over beskæftigelsen. Med andre ord: det er yderst usolidarisk, når grupper som sygeplejerskerne kræver lønforhøjelser på op til 15%.
- Peter Green: Questions on the crisis: The seeds of slump. Why are there booms and slumps?
Socialist Review nr. 112, sep 88 – side 21
- Nigel Harris: Theories of unequal exchange
International Socialism Journal nr. 33, sep 86 – side 111
- Peter Green: Once more on the rate of profit – a reply to Dave McNally's 'Debt, inflation and the crisis'
International Socialism Journal nr. 32, jun 86 – side 101
Note: McNally's article was in ISJ2:30
- Charlie Lywood: Kapitalismen i krise: Permanent våbenøkonomi
Socialistisk Arbejderavis nr. 16, jan 86 – side 7
Note: Økonomiske kriser under kapitalismen er et resultat af, at systemet bygger på konkurrence mellem de forskellige enkeltkapitaler.
- Dave McNally: Debt, inflation and the rate of profit
International Socialism Journal nr. 30, sep 85 – side 42
- Leon Trotskij: The interaction between booms, slumps and strikes
International Socialism Journal nr. 20, jun 83 – side 132
Note: Er oversat til dansk og kan læses på Marxisme Online
- Peter Green: What's in a word: Keynesianism: what does it mean?
Socialist Review nr. 40, feb 82 – side 14
- B. Vandesteeg + S. Freeman: What is ‘Unproductive Labour’
International Socialism Journal nr. 12, mar 81 – side 85
Note: The importance of a Marxist theory of productive labour has been neglected in the analysis of the present crisis. In recent years there has been some controversy among Marxist economists over how we should properly define productive labour. But these debates have remained at an academic level and have not been used to develop practical socialist politics.
- Alex Callinicos: Wage Labour and State Capitalism: A reply to Peter Binns and Mike Haynes
International Socialism Journal nr. 12, mar 81 – side 97
Note: An otherwise excellent critique of “exceptionalist” analyses of the eastern bloc by Peter Binns and Mike Haynes in a recent issue of International Socialism was vitiated by the authors’ acceptance of the proposition that “wage-labour is not necessary to capital” (p. 29).
- Chris Harman: Marx’s Theory of Crisis and its critics
International Socialism Journal nr. 11, dec 80 – side 30
Note: This is the second part of an article on locating the crisis. The first part, Theories of the crisis, appeared in IS 2:9, Summer 1980
- Chris Harman: Theories of the Crisis
International Socialism Journal nr. 9, jun 80 – side 45
Note: It is now six years since the worst recession since World War II hit the western economies. A new recession is now developing, even though in most countries there has not been anything like sustained recovery from the last recession. The rate of growth in the ‘post-recession’ year, 1978, was less than the average for boom and slump years prior to 1973.
- Miguel Garcia: Karl Marx and the formation of the average rate of profit
International Socialism Journal nr. 5, jun 79 – side 54
Note: Since von Bortkiewicz it has frequently been assumed that Marx’s solution to the ‘transformation problem’ is faulty. In this article we shall try to show: (a) that Marx’s solution was correct; (b) that it leads to no inconsistencies in his theory of value; (c) that even in spite of this solution, von Bortkiewicz misunderstood the problem.
- Peter Green: The necessity of value and a return to Marx: Part 2 – in reply to the critics
International Socialism Journal nr. 4, mar 79 – side 15
- Peter Green: The necessity of value and a return to Marx: Part 1 – the theory of value
International Socialism Journal nr. 3, dec 78 – side 56
Note: Marx’s theory of value is the cornerstone of his whole investigation of capital. It is at this point that he breaks decisively with all bourgeois economics.
- Alex Callinicos: ‘Marx’s “Capital” and Capitalism Today’ – a critique
International Socialism Journal nr. 2, sep 78 – side 83
Note: A Cutler, B Hindess, P Hirst, A Hussein: ‘“Marx’s Capital and Capitalism Today’”
- Chris Harman: Review: Mandel’s ‘Late Capitalism’
International Socialism Journal nr. 1, jul 78 – side 79
Note: Ernest Mandel: “Late Capitalism”
We are four and a half years into the worst world crisis since World War II and there seems to be no end to it in sight. An understanding of this crisis is central to the strategy and tactics of revolutionary socialism. Are we faced with a temporary hiccough in the upward curve of capitalism? Or are we in for decades of decline for the world system?
- John Ure: Marxist Economics (Part 2): Capitalism as a System of Crisis
International Socialism Journal (1st series) nr. 80, jul 75 – side 23
- John Ure: Marxist Economics: Part 1: The Nature of Capitalism
International Socialism Journal (1st series) nr. 79, jun 75 – side 33
Note: This is the first part of four articles by John Ure on the substance of Marxist economic theory. The subsequent articles will appear in the July/August, September and October issues of the Journal.
- Jette Larsen: Anmeldelse: Paul Mattick: “Marx og Keynes. Blandingsøkonomiens grænser”
Proletar! nr. 9, aug 74 – side 31
Note: Marx klarlagde gennem sin kritik af den politiske økonomi den kapitalistiske produktions samfundsmæssige karakter og kapitalakkumulationens modsætningsfyldte tendenser, som ville føre produktionen ud i stadig dybere kriser.
- LO (Lutte Ouvrière, Frankrig): Ny-Malthusianisme – en bortforklaring af de kapitalistiske kriser
Proletar! nr. 8, maj 74 – side 38
Note: Offentliggørelsen af den velkendte Mansholt Rapport, hvori forfatteren fremlagde sine synspunkter angående den økonomiske vækst, synes at have åbnet sluserne for en sand bølge af malthusianske ideer.
- Paul Mattick: Review: Mandel’s Economics: Another View
International Socialism Journal (1st series) nr. 37, jun 69 – side 35
Note: In the last issue of International Socialism we printed a review of Mandel’s book by Michael Kidron. We are now printing another review of the same book by the American Marxist, Paul Mattick.
- Michael Kidron: Maginot Marxism: Mandel’s Economics
International Socialism Journal (1st series) nr. 36, apr 69 – side 33
Note: Mandel’s "Economics" is a Marxist failure. It is unsure of the central capitalist dynamic. It evades the essentials of the system as it operates today. It is more concerned with defending Marx’s categories of analysis than with applying them. In consequence, it does little damage to the system intellectually or, by derivation, in practice.
- Michael Kidron: Marx’s Theory of Value
International Socialism Journal (1st series) nr. 32, mar 68 – side 8
Note: It seems improbable that marxists should have spent a century defending two very abstract propositions: that values are measured by the amount of time necessarily and actively spent in creating them, and that under certain stringently-defined and wholly artificial conditions equal values exchange. It is at least as improbable that anti-marxists should have spent as much time attacking them, or that a blander school of non-marxists should now bother to deny their relevance. Yet in different tones and with different talent, they have done so and, as this shows, are still doing so.
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