The last two decades have seen a reshaping of the international economy together with a radical weakening in the conditions of the working class. New productive techniques and methods in the organization of labour have been implemented on a world-wide scale partly as a consequence of the...

An understanding of, and an intervention into, the present capitalist reality requires that we put together the insights of Karl Marx on labor, as well as those of Hyman Minsky on finance. The best way to do this is within a longer-term perspective, looking at the different stages through which...

In Schumpeter's model of economic development money plays an essential role and capitalism is seen as a structurally unstable process. These distinctive features of Schumpeterian theory are due to the endogeneity of innovations and, as a consequence, of money supply. The endogenous nature of...

A critical survey of the recent literature on the labor theory of value is offered, focusing upon the view of Marnian labor theory of value as a macroeconomic theory of exploitation within the money circuit of capita L The traditional and the 'new" solutions of the so-called transformation...

Europe is in the middle of an economic and social storm. Although the turmoil since the mid-2008 originated elsewhere, the European dynamics may turn the Great Recession into a full-blown Great Depression. Within this dynamics, the faulty design of the 'single currency' is a key element,...

The as yet unpublished Sraffa material may help to break the no-communication monologues between Marxists and Sraffa's followers. This is possible only if we contest the vulgate that, after Sraffa, we have to accept a surplus approach which is mutilated from the labour theory of value. The...