A new theory of capitalism is suggested. Its key moments and general logic are presented. This theory is based on the … competition" are admitted to be a functional norm of capitalism. Respectively, an equilibrium and "perfect competition" are …

commoditisation of labour power assuming the form of wage labour is specific to capitalism and the sole source of surplus value. This … paper, drawing from various strands of Marxian literature, argues that capitalism never existed in isolation in ‘pure’ and … signifies a confluence of separate processes, it overdetermines the existence and stability of capitalism by a complex …

implications are (b) the emergence of a new social formation that may be called World Market Capitalism, which has a vastly …

capitalism far more than Anglo-American capitalism, and that it is likely to remain this way for the foreseeable future. …

Why has capitalism prevailed as an institution in promoting economic growth despite its apparent unfairness? In this … paper, we argue that within a neoclassical framework, capitalism is fairer compared to collectivism due to the absence of a … capitalism at the aggregate level. Developing countries operating below the steady state may be better off cooperating as they …