This paper takes off from Jan Kregel's paper "Shylock and Hamlet, or Are There Bulls and Bears in the Circuit?" (1986), which aimed to remedy shortcomings in most expositions of the "circuit approach". While some "circuitistes" have rejected John Maynard Keynes's liquidity preference theory,...

In classical and Marxian political economy economic advancement takes place in stages of development. These stages are characterized by different functional distributions of income. In this paper we show that the Cobb-Douglas Production Function is the only production function which has the...

The aim of this paper is to outline some aspects of the self-organisation of society based on a dialectical methodology. On a very general level, society can be characterised as a re-creative system: By mutual productive relationships of social structures and actors, society can based on human...

The aim of this paper is to outline some foundational aspects of a theory of self-organising social change. Synchronous social self-organisation is based on a contradiction between structures and actors that produces emergent results. The cycle of expanded reproduction of capital outlined by...

Hermann Heinrich Gossen is generally known as the predecessor of Walras, Menger and Jevons in preparing modern economic analysis. What is generally not known is his Fundamental Theorem as a marginal approach to the labour theory of value. This paper presents his Fundamental Theorem in terms of...

The old theories of imperialism attempted to explain the phenomenon of the militarization of the industrial nations and their conflict over colonies that led to World War I. It was the rise of monopoly capitalism, the emergence of finance capital and the control over the state that led...

The paper sketches a coherent history of the choice of the measure standard from Adam Smith's Wealth of Nations to Sraffa's Production of Commodities. As neither the Smithian labour commanded unit nor the Ricardian-Marxian labour embodied one provide a general solution to the dilemma concerning...

Suppose you propose to retrieve the means of production from the capitalist mode of production, turning them from alien forces conspiring against freedom into an expression of freedom. How might you do that? The question gives rise to a socialisation dilemma. The first horn of the dilemma,...