Post by: John Milios

EconoFiction

Karl Marx and the Classics

20 Nov , 2020  

An Essay on Value, Crises and the Capitalist Mode of Production

John Milios, Dimitri Dimoulis, George Economakis

Marx’s Critique of Political Economy constitutes not a “correction” of Classical Political Economy’s “mistakes” or “misunderstandings”, but the formation of a new theoretical domain, shaping thus a new theoretical object of analysis and ...

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EconoFiction

ON MARX’S CRISIS THEORY IN THE ORIGINAL MANUSCRIPT OF THE 3RD VOLUME OF CAPITAL

28 Okt , 2020  

The notion of capital overaccumulation, as constructed by Marx in Volume 3 of Capital on the basis of his “preliminary definition” of “absolute overproduction”, is considered in this paper as the key element of Marx’s crisis theory. Following what the author considers as the logic of Marx’s analysis, the paper ...

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EconoFiction

Financialization:Market Discipline or Capital Discipline?

19 Sep , 2020  

John Milios/ Dimitris P. Sotiropoulos

A crucial aspect of nearly all contemporary approaches to imperialism is the idea that the domination of neoliberalism and of the globalized financial sector of the economy produces a predatory version of capitalism, a capitalism that inherently tends towards crisis.

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EconoFiction

Beyond Capitalism. Strategies for a Good Society in the “Era of Financialization”

31 Aug , 2020  

Spyros Lapatsioras, John Milios and Dimitris Sotiropoulos

Contemporary capitalism seems too far away from the implementation of any version of a good society.

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EconoFiction

Marx’s Monetary Theory of Value and Capital as a Critique of Classical Political Economy

14 Aug , 2020  

John Milios Department of Humanities, Social Sciences and LawNational Technical Universityof Athens, GreeceEmail: john.milios@gmail.com

Dimitris P. SotiropoulosDepartment of Sociology University of the Aegean, GreeceEmail: d.p.sotiropoulos@gmail.com

Short description: When does a theory really die? In the history of economic thought, it is rather common to assume that the labour theory of ...

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EconoFiction

Joseph Schumpeter and the German Historical School

2 Jul , 2020  

Undoubtedly, Joseph Alois Schumpeter ‘was one of the greatest economists of all time’ (Haberler, 1950, p. 1) who made seminal contributions to economics and had a major impact on the development of the discipline in the twentieth century. However, some important aspects of his works remain less widely discussed.

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EconoFiction

After Brexit and Donald Trump: Is Nationalism challenging Neoliberalism?

14 Mai , 2020  

… Financial markets generate a structure for overseeing the effectiveness of individual capitals, that is to say a type of supervision of capital movement. The demand for high financial value puts pressure on individual capitals (enterprises) for more1 intensive and more effective exploitation of labour, for higher profitability. This pressure ...

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EconoFiction

“Socialist Planning” and Enterprise in the USSR, 1929-1989

10 Mai , 2020  

The basic element of economic planning in “actually existing socialism” was aspecific kind of economic control exercised over enterprises by the state (in the formof the state planning agencies). This control derives from two sources: (a) the plan itself (which had the status of law), that is to say the ...

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EconoFiction

Marx’s Inquiry into the Birth of Capitalism: Why Does It Matter?

20 Apr , 2020  

Differing approaches to the issue of the beginnings of capitalismimply different conceptualization of what capitalism is. This paperelaborates on the notion of original accumulation. It utilizes theMarxist notion of the mode of production to provide the conceptof the historicalfigure which Marx describes as the pre-capitalistmoney-owner. Two notions are introduced: (1) ...

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EconoFiction

Value, Fictitious Capital and Finance. The Timeless of Karl Marx’s Capital

2 Apr , 2020  

Karl Marx is not a proponent of classical value theory as labour expended. Marx developed in Capital and his other mature economic writings a monetary theory of value and capital.2 He analysed value as an expression of relations exclusively characteristic of the capitalist mode of production. Value registers the rela-tionship ...

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EconoFiction

The Working Class and the Middle Classes in the Greek Economic Crisis: Allies in a Common Anti-Neoliberal Strategy?

8 Dez , 2019  

George Economakis and John Milios

ABSTRACT

On the basis of a Marxist analysis of capitalist relations of classpower and the class configuration in contemporary advanced capitalist societies, the paper investigates the consequences of the recent economic crisis and of the neoliberal capitalist strategies in Greece (austerity, market liberalization and privatizations), ...

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EconoFiction

Financial Capital Globalization as Capital Discipline and the Socialist Alternative

10 Okt , 2019  

John Milios National Technical University of Athens, john.milios@gmail.com

Dimitris P. Sotiropoulos The Open University Business School, UK, d.p.sotiropoulos@gmail.com

1. Globalization, financialization, crisis

The current financial crisis of capitalism is without precedent in the post-war period. Regarding the crisis, recent heterodox literature is dominated by a single and persistent argument. The ...

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