This paper presents the microeconomic partial and general economic equilibrium analysis of monopoly power in terms of labour values. In the partial analysis it is shown that the monopolistic mark-ups above marginal cost do not constitute labour values but real bubbles of values which prevent the...

The excessive high public debt of almost all member states of the euro area, resulting from diverging tendencies of economic development, requires appropriate adjustment mechanisms. The crucial role of industrial relations is strengthened by the introduction of the economic policy instruments of...

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...

There are striking similarities between the 'Krach' of 1929 and the current euro area debt crisis concerning the adjustment mechanisms involved overcoming international trade imbalances caused then by the German Transfer Problem and war reparations in general and now by intra-euro-area trade...

This article is the English translation of Rudolf Hilferding's article "Zwischen den Entscheidungen", first published in: Die Gesellschaft. Internationale Revue für Sozialismus und Politik, Volume 10, Part 1, January 1933, pp. 1–9. Rudolf Hilferding, the author of "Finance Capital" and...

This article attempts to present the important contribution of Victor V. Novozhilov to Marxian economic theory, the proof that the theory of optimal planning is the proper field of general economic equilibrium theory and that this theory, by fully respecting the objective law of value, leads to...