Income inequality in China is severe; measured by the Gini-coefficient it amounted to 0.46 in 2011; wealth distribution is even worse with 0.61. These disparities led to a major shift in emphasis of politics in general and of the Five-Year Plan for National Economic and Social Development by the...

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...

Both Rosa Luxemburg and Michal Kalecki utilised Marx’s scheme’s or reproduction as the starting point of their analysis of economic dynamics. However, Luxemburg did not realise that they were not meant to serve as models of capitalist growth, but rather to show that the conditions for stable...

Racial capitalism is a conceptual framework that illuminates the relationship between race and class in the global economy. The concept of racial capitalism has spawned a vast interdisciplinary literature reflecting multiple theoretical perspectives on the various ways that race and class (along...

The concept of racial capitalism has been embraced by scholars and activists as a means of exploring the common roots of contemporary social and ecological crises. These include unprecedented environmental degradation, extreme economic inequality, the resurgence of authoritarian...

This paper discusses the role that finance plays in promoting the capital development of the economy, with particular emphasis on the current situation of the United States and the United Kingdom. We define both "finance" and "capital development" very broadly. We begin with the observation that...

This paper discusses the role that finance plays in promoting the capital development of the economy, with particular emphasis on the current situation of the United States and the United Kingdom. We define both "finance" and "capital development" very broadly. We begin with the observation that...

This paper examines the validity of the factor price equalisation theorem (FPET) in relation to capital theory. Additionally, it presents a survey of the literature on Heckscher-Ohlin-Samuelson (HOS) models that treat capital as a primary factor, beginning with Samuelson (1953). Furthermore,...

This paper surveys some of the quantitative empirical research in two areas of Marxist political economy: (a) Marxist national accounts, and (b) Marxist responses to the Sraffa-based critique of the 1970s. With respect to the first area, this paper explains the basic methodology underlying the...

This paper presents a modern response to the problem imposed by Marx in Capital in 1867, “to lay bare the economic law of motion of modern society” and to provide a vision on how, on the basis of this law of motion the transformation of the capitalist mode of production to the socialist mode...