This paper argues that Marx’s law of the falling rate of profit applies to the problematic of choice of technique in the context of accumulation of capital, and not to the problematic of choice of technique in the context of technological change or new innovation as such. In this context,...

This article pays homage to E. K. Hunt who was a founding member of URPE who helped build chapters on several campuses in western states. Much of the author’s own research work over the past forty years was an attempt to strengthen criticisms Hunt voiced long ago about markets and blind...

Henri de Man is the author of the dissenting “Au-delà du Marxisme†(1926) and of the Belgian Plan du Travail (Labor Plan) of 1933. Later he became a Belgian social-democratic leader. He published between 1931 and 1935 18 economic articles in the Bulletin d’Information et de...

The recent theoretical works of the authors mentioned in the title of the paper provide thorough insights into the workings of contemporary capitalism. Derivatives are the key issue involved here. They comprehend financialization as a development within, rather than a distortion of, capitalist...

This paper attempts to closely investigate the relationship between Ricardo's search for an invariable measure of value and Sraffa's Standard commodity on the one hand and Marx's transformation problem and his notion of exploitation on the other. The paper argues that Marx's notion of...

This paper critically evaluates the "new solution" to the transformation as presented by Foley and Dumenil and others, from the perspective of the author's "macro-monetary" interpretation of Marx's theory. The main issue emphasized is the method of determination of the inputs of constant capital...

This article evaluates the new interpretation (NI) of Marxian value theory consistent with its inherent logic. The problem of double counting will be examined thoroughly. The relationship between the NI's value of labor power and bundle of wage goods will also be discussed. While the NI...

This paper presents a critique of recent efforts, under the rubric of Temporal Single System Marxism, to defend Marx's value theory against the claim that his transformation algorithm is flawed. Although Marx did make a number of errors in elaborating his theory of value and the profit rate,...

This note critically evaluates the “macro-monetary†interpretation of Marx’s theory presented by Moseley (2000) in opposition to the traditional view rooted in the work of Bortkiewicz. The first part argues that the textual evidence from Capital sharply contrasts with the basic...

In recent decades, financial securities have become a dominant form of private property, accounting for much of the growth of wealth around the world. But what kind of property are financial securities? What are the sources of the income they provide, and what are the social relations that...