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For Marxists, the present controversies are rooted in Marx's own development and exposition of the labor theory of value, especially its presentation in Volumes I (Marx, 1954 [1867]) and III of Capital. As is well known, in Volume I, Marx begins with his analysis of commodities, emphasizing the role of human labor in both its concrete and abstract aspects, and from that he develops (1) the concepts of (exchange) value, of socially necessary labor time, and of its expression in the form of money and the distinction between value and price; (2) the concepts of capital and of surplus value; and (3) the concept of the commodity labor power. With these concepts, his analysis of capitalist production lays bare the nature of capitalist exploitation and links the phenomenon of profit to surplus value (i.e., the unpaid labor time of productive workers). In Parts I and II of Volume III, Marx, explicitly allowing for the interplay of many different capitals, endeavors to show how surplus value is converted into profit, how the rate of surplus value is converted into the rate of profit, how the general rate of profit is formed, and how the values of commodities are transformed into prices of production. He claimed that the transformation preserved the following equalities: total value=total prices; total surplus value=total profits; and, the rate of profit=the rate of surplus value. Marx's presentation of this material in Volume III is, unfortunately, quite rough, since this material is comprised of manuscripts that he had prepared prior to the publication of Volume I in 1867. These manuscripts were not, however, in a final, finished state, and unfortunately Marx never got around to getting them ready for publication.

The overall aim of this chapter is to investigate whether the notion of cultural value can have utility as a context for urban and regional development strategies. It does this by proposing a conceptualisation of ‘cultural assets’ that encompasses both tangible and intangible resources, as well as resources existing and yet to be created. The purpose of the conceptualisation is to establish a framework within which we can better understand how cultural value might be activated or generated in urban and regional areas and so become a context for developmental strategies. Importantly, this paper also sets out to provide further insight into the notion of cultural value itself, particularly in relation to matters of definition, and the notion's utility in other areas of theory and practice.

For much of its 43-year history, the community college sector in Jamaica has been plagued by perceptions of inferior status and mediocre tertiary education offerings. The Jamaican colleges have responded to the criticisms by aggressively pursuing quality assurance initiatives such as program accreditation, expanded course offerings, and ongoing curriculum review. This chapter traces the birth and development of the community college movement in Jamaica and the Caribbean and acknowledges the significant achievement of the Jamaican colleges in increasing access to tertiary education. The chapter also examines threats to the open access policy that may have serious implications for education equity and quality. These include inadequate funding, limited infrastructure to support the curriculum, low enrolment of specialized groups, and unsatisfactory completion and graduation rates. Recommendations for policy and practice are proposed.

Focusing on Johannes L. Sadie, a South African economist hired to investigate the economic options of Southern Rhodesia at the time of the Unilateral Declaration of Independence (UDI), this chapter examines the historical, ideological, pedagogical, and international influences of the intersection between economic discourse and racial ideology. Using the example of the Sadie recommendations, this chapter examines how the changing political context informed the state’s approach to the economy. A reading of the context in which Sadie was hired to justify Rhodesia’s UDI and provide legitimacy to its economic policies sheds light onto the Ian Smith regime’s approach to an alternative post-imperial (but not post-settler) state and economy, but it also speaks of the ways in which economic discourse can be deployed for political purposes by authoritarian regimes.

Although the concept of social capital is rightly associated with Putnam (2000), arguably its roots lie further back in the nineteenth century, but were first articulated in a “contemporary sense” in 1916 (Organisation for Economic Co-operation and Development (OECD), 2001, p. 41). The authors begin their analysis by summarizing the main types of capital: economic, social, political, human, cultural and symbolic, before exploring the different types of social capital, including bonding, bridging and linking. These are then linked to a variety of related concepts, including: social enterprise, social networks, social value, community development, community resilience and sociability (Cook, Halsall, & Wankhade, 2015). It is argued that social capital is central to these, and is of increasing importance across the globe within the context of the threats and opportunities posed by globalization on the one hand (including the spread of COVID-19) and of potential deglobalization on the other, in part as a reaction to COVID-19 and pre-existing nationalist trends toward limitation of global interactions. The discussion is supported by examination of a range of case studies drawn from societies of contrasting types, including the UK, USA, China, Bangladesh and South Africa. The authors conclude their analysis via consideration of how social capital can be expanded further in order to help meet contemporary and future challenges from whichever direction it arises.