In this paper, I investigate the phenomenon of long waves of capitalist development from two perspectives. First, I look for evidence of long waves of economic growth taking the dates for turning points of long waves from the historical literature (Mandel, 1995). Using historical data for 20...

An economic crisis in capitalism is a deep and prolonged interruption of the economy-wide circuit of capital. Crises emerge from within the logic of capitalism's operation, and are manifestations of the inherently contradictory process of capital accumulation. The Marxist tradition...

In subsistence economies with general convex technology and rational optimising agents, a new, axiomatic approach is developed, which allows an explicit analysis of the core positive and normative intuitions behind the concept of exploitation. Three main new axioms, called Labour Exploitation in...

This paper provides an innovative axiomatic analysis of the notion of exploitation as the unequal exchange of labour, focusing on the relation between exploitation and profits. General convex economies with heterogeneous agents endowed with unequal amounts of physical and human capital are...