Three important features of the U.S. economy during the neoliberal era since the mid-1970s have been: (a) growing financialization, (b) increasing household debt, and (c) stagnant real wages for production and non-supervisory workers. This paper develops a discrete-time Marxian circuit of...

In this Working Paper, also an entry for the International Encyclopedia of Public Policy, John King begins with a brief discussion of the meaning of ‘socialism’ and ‘social democracy,’ from their nineteenth-century origins down to the present day. He then discusses socialist economic...

This paper conducts a causal analysis of determinants of the profit share of income for nonfinancial corporations in the Neoliberal era. The analysis focuses on power relations across and amongst three classes: labor, industrial capitalists and financial capitalists. Particular attention is paid...