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Book part
Publication date: 9 December 2022

Gabriele Pastrello

Kalecki's 1968 paper on Marx's Reproduction Schemes aimed, starting from Marxian Schemes, to build an analytical bridge to the modern theories of Effective Demand and Growth…

Abstract

Kalecki's 1968 paper on Marx's Reproduction Schemes aimed, starting from Marxian Schemes, to build an analytical bridge to the modern theories of Effective Demand and Growth. Kalecki accomplished his task modifying the structure of Marxian Schemes, reinterpreting them in terms of vertically integrated sectors, and this sidesteps Marx's analysis of the monetary intersectoral transaction. This chapter tries to show that the impossibility of implementing the intersectoral monetary transaction is not simply due to monetary technicalities, as held by Kalecki, but has crucial implications regarding Say's Law. Putting aside Marx's problem, Kalecki puts aside the true meaning of Marx's unsuccessful analysis: that an economy obeying Say's Law cannot function; as it were, Marx's Impossibility Theorem on Say's Law.

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Polish Marxism after Luxemburg
Type: Book
ISBN: 978-1-80117-890-7

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Article
Publication date: 1 July 1992

Ernest Raiklin

Addresses two major problems. Argues first that the Stalinist modelof socio‐economic development, with its actual emphasis on productionfor the sake of production, has been…

Abstract

Addresses two major problems. Argues first that the Stalinist model of socio‐economic development, with its actual emphasis on production for the sake of production, has been Ricardian in its nature. As a result, its dominant features have been the sellers′ market of shortages. Maintains, second, that the essence of the current transformation of the Stalinist system is its movement from the Ricardian to the modified Marxian model of capitalism. Since the latter′s proclaimed goal is production for the sake of profits, the “reformed” Soviet socio‐economic structure will have to end up as the buyers′ market of plenty.

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International Journal of Social Economics, vol. 19 no. 7/8/9
Type: Research Article
ISSN: 0306-8293

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Book part
Publication date: 11 July 2007

Terrence McDonough

This article traces the history of a continuous tradition of Marxian stage theory from the beginning of the twentieth century until the present day. The resolution of the first…

Abstract

This article traces the history of a continuous tradition of Marxian stage theory from the beginning of the twentieth century until the present day. The resolution of the first crisis of Marxism was found in the work of Hilferding on finance capital, Bukharin on the world economy and Lenin on imperialism as a new stage of capitalism. Hilferding's, Bukarin's and Lenin's analysis was carried into the post–World War II era through the work of Sweezy and Mandel. A second wave of Marxian stage theorizing emerged with the end of the post–World War II expansion. Mandel's long wave theory (LWT), the Social Structure of Accumulation Framework (SSAF), and the Regulation Approach (RA) analyzed the stagflationary crises as the end of a long wave of growth. This long wave was underpinned by the emergence of a postwar stage of capitalism, which was analogous to the reorganization brought about by monopoly capital at the turn of the century. These new schools were reluctant to predict the non-resolution of the current crisis, thus opening up the possibility of further stages of capitalism in the future. This elevated Lenin's theory of the highest stage to a general theory of capitalist stages. The last decade has seen a substantial convergence in the three perspectives. In general, this convergence has reaffirmed the importance of Hilferding's, Bukarin's and Lenin's (HBL's) initial contributions to the stage theoretic tradition. The article concludes with some thoughts on the necessity of stage theory for understanding of the current period of globalization.

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Transitions in Latin America and in Poland and Syria
Type: Book
ISBN: 978-1-84950-469-0

Abstract

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Histories of Economic Thought
Type: Book
ISBN: 978-0-76230-997-9

Article
Publication date: 1 May 1979

André Gabor

The purpose of this paper is to discuss a recent Russian publication which appears to be of interest both to students of Marxian theory and to observers of economic development in…

Abstract

The purpose of this paper is to discuss a recent Russian publication which appears to be of interest both to students of Marxian theory and to observers of economic development in the USSR.

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International Journal of Social Economics, vol. 6 no. 5
Type: Research Article
ISSN: 0306-8293

Article
Publication date: 1 July 1992

M.C. Howard and J.E. King

Analyses the economics of socialism within the Marxian tradition.The ideas of Marx and Engels are included, as are those of the theoristsof the Second International. The debate on…

Abstract

Analyses the economics of socialism within the Marxian tradition. The ideas of Marx and Engels are included, as are those of the theorists of the Second International. The debate on market socialism associated with Oskar Lange also receives attention. The evolution of Mises′s and Hayek′s responses is traced, and there is an outline of how economists in Eastern Europe have come to similar conclusions to these Austrians. Concludes with an assessment of the economics of socialism in the work of contemporary theorists.

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International Journal of Social Economics, vol. 19 no. 7/8/9
Type: Research Article
ISSN: 0306-8293

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Article
Publication date: 9 August 2019

Dale Tweedie and James Hazelton

The purpose of this paper is to encourage and advance interdisciplinary accounting research on economic inequality.

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Abstract

Purpose

The purpose of this paper is to encourage and advance interdisciplinary accounting research on economic inequality.

Design/methodology/approach

The authors review prior research into economic inequality, including two new papers in this issue, to identify topics where economic inequality and accounting research intersect. The authors then draw on prior accounting research to identify frameworks accounting scholars already use apposite to analysing these topics.

Findings

Economic inequality cuts across major accounting topics, including measurement, reporting and tax. Inequality also bears on an influential agenda in interdisciplinary accounting research to hold corporations and states accountable for their impacts. Four prior research frameworks accounting scholars might apply to this agenda are: critical Marxian or post-Marxian; accounting ethics; advocacy; and disclosure studies.

Social implications

A growing body of social scientific research, as well as influential global institutions, social movements and political debates, raise concerns over inequitable global distributions of wealth and income. The authors explore ways accounting scholars can help redress these inequities.

Originality/value

While economic inequality affects billions of people, accounting scholarship is yet to give these inequities the attention their scale and social impact merits. The authors suggest ways accounting researchers can make substantive contributions to addressing this issue.

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Accounting, Auditing & Accountability Journal, vol. 32 no. 7
Type: Research Article
ISSN: 0951-3574

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Book part
Publication date: 9 December 2022

Riccardo Bellofiore

Rosa Luxemburg is not an under-consumptionist stressing the tendency to stagnation, it is rather an under-investment perspective: the effective demand crisis results from the…

Abstract

Rosa Luxemburg is not an under-consumptionist stressing the tendency to stagnation, it is rather an under-investment perspective: the effective demand crisis results from the disequilibria determined by a vibrant capitalist accumulation, and stems from production rather than circulation. To show this, the chapter deals with three dimensions of Rosa Luxemburg's economic thought. First, how Luxemburg's approach in her 1913 book is related with some of her prior writings, especially Social Reform or Revolution? and the Introduction to Political Economy. Second, the re-reading that Luxemburg herself provided of her own argument in terms of a macro-monetary circuit model like the one we read in her Anti-Critique. Third and last, in which sense Marx's monetary labour theory of value was for her the essential starting point, which cannot be just set aside. This last point will be preceded by a détour, the critical consideration of some key papers by Kalecki on capitalism and reform, including his late paper with Kowalik on the ‘crucial reform’. The chapter concludes with some hints pointing towards an interpretation of capitalism and its recurring crises where exploitation and effective demand are both essential in accounting for the ascent and collapses of different forms of capitalism itself.

Book part
Publication date: 7 November 2011

Seongjin Jeong

This chapter attempts an evaluation of Lenin's economic thought from a Marxian standpoint. This chapter argues that Lenin's reading of Marx's Capital in Development of Capitalism…

Abstract

This chapter attempts an evaluation of Lenin's economic thought from a Marxian standpoint. This chapter argues that Lenin's reading of Marx's Capital in Development of Capitalism in Russia (1899) was biased toward Ricardian or logic-historical interpretation of value, disproportionality theory of crisis as well as economic determinism, characteristic of the Second International Marxism. While admitting that Lenin overcame economic determinism and reformist politics of the Second International Marxism in his Imperialism (1917), this chapter shows that some essential elements, such as thesis of progressiveness of capitalism, stagiest or typologist conceptions of capitalism, still persisted within and after Imperialism. Moreover, this chapter argues that Lenin's Imperialism cannot be considered as a successful concretization of three latter parts of Marx's plan of critique of political economy in Grundrisse (1857), that is, State (Part 4), Foreign Trade (Part 5), and World Market Crisis (Part 6). This chapter also argues that the ambivalence of Lenin's economic thoughts and incomplete break with the Second International Marxism unexpectedly led to Stalinist thesis of state monopoly capitalism, market socialist ideas, and reformist conception of “varieties of capitalisms.”

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Revitalizing Marxist Theory for Today's Capitalism
Type: Book
ISBN: 978-1-78052-255-5

Book part
Publication date: 8 February 2016

Maxine Eichner

This paper poses the question of whether the mainstream feminist movement in the United States, in concentrating its efforts on achieving gender parity in the existing workplace…

Abstract

This paper poses the question of whether the mainstream feminist movement in the United States, in concentrating its efforts on achieving gender parity in the existing workplace, is selling women short. In it, I argue that contemporary U.S. feminism has not adequately theorized the problems with the relatively unregulated market system in the United States. That failure has contributed to a situation in which women’s participation in the labor market is mistakenly equated with liberation, and in which other far-ranging effects of the market system on women’s lives inside and outside of work – many of them negative – are overlooked. To theorize the effects of the market system on women’s lives in a more nuanced manner, I borrow from the insights of earlier Marxist and socialist feminists. I then use this more nuanced perspective to outline an agenda for feminism, which I call “market-cautious feminism,” that seeks to regulate the market to serve women’s interests.

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Special Issue: Feminist Legal Theory
Type: Book
ISBN: 978-1-78560-782-0

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