In 1918 the Central Statistical Administration (TsSU) was founded with the support of Lenin. Pavel Illich Popov was its first director (1918-1926). TsSU proceeded to the merging and centralization of the former decentralized statistical system of the zemstva (local governments) inherited from...

The paper introduces to the special issue of the journal, devoted to Luigi Spaventa, former board member and frequent contributor to the journal, Italian MP and minister of the Budget. While most obituaries and recollections of Spaventa focus on his academic or political activities, the author...

I formulate and calibrate a small 3D classical growth cycle model to explain the rise of income inequality, growth stagnation and the persistence of unemployment in South Africa between 1970-2005. This model exhibits interactions between economic growth, the employment rate, and the rate of...

The Russian doctrine of "new industrialization" that emerged during the global economic crisis is considered. The author concludes that the doctrine is based on orthodox Marxism and suggests revolutionary reforms similar to those carried out by Stalin.

This article aims to offer a reply to Steedman’s critique of Marx’s labor theory of value. Although this critique having been there for about three decades, the anti-critiques from Marxists are up to date flawed with fatal limitation, losing sight of an important dimension of labor theory of...

Abstract: Recent heterodox economic literature makes reference to Hilferding’s “Finance Capital” and Lenin’s “Imperialism” as early insights on the phenomenon of Financialization of capital. In this regard ideas which became dominant in the left during the first decades of the...

The formal representation of economic theories normally takes the form of a model, that is, a system of equations which connect the endogenous variables with the values of the parameters which are taken as given. Sometimes, it is possible to identify one or more equations which are able to...

Abstract This paper begins with a critical presentation of Kondratiev’s (1926) seminal paper on the question of the existence as well as his theoretical explanation of long cyclical fluctuations of the level of economic activity. Furthermore we argue that a coherent explanation of long-run...

This paper will discuss the classical theory of income developed by David Ricardo to understand not only its origin, also the role it plays in the stagnation of capitalist development. Also, since it will clarify the factors behind economic surplus allocation between social classes. In our...

This article aims to shed light on the role played by the ‘rate of turnover’ of capital within the Marxian analysis of the working laws of capitalism. Oddly enough, that concept has been neglected by the most part of Karl Marx’s scholars and exegetes, as is demonstrated proved by the small...