The Marxian labor theory of value has been criticized in recent years by neoclassical and Sraffian economists as superfluous to the analysis of capitalist economies. It is argued in this paper the usual presentations and de fenses of the labor theory of value are indeed faulty, but the theory...

Among the most important advances in Marxian theory in recent years have been the methodological and philosphical contributions of Louis Althusser and his colleagues. Stephen Resnick and Richard Wolff's "The Theory of Transitional Conjunctures and the Transition from Feudalism to Capitalism in...

This article compares the neoclassical and Marxian theories of the firm. The neoclassical, interpreting the social relations in the production process, in particular the relations of authority and inequality, as flowing from the nature of technology and atomistic preferences, is shown to be...

David Gordon, a pioneer of radical political economics and an activist of the U.S. left, died of congestive heart failure on March 16, 1996, at the age of fifty-one. At the time of his death he was Professor of Economics at the New School for Social Research and Director of the Center for...

This paper seeks to explain trends in United States corporate profitability since World War II through an analysis of the rise and subsequent demise of a postwar social structure of accumulation (SSA). Building from a formal model of the determinants of profitability, we provide econometric...