Marx’s Critique of (Ricardian) Political Economy, the Quantity Theory of Money and Credit Money

25 Jun , 2018  

The Marxist concept of value is very frequently equated, whether explicitly or merely tacitly, with the corresponding Ricardian concept of “labour expended”. This paper argues that unlike the Ricardian theory of value, the Marxist theory of value is a monetary theory. In the Marxist system, the value of a commodity


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Karl Marx and the Classics

28 Apr , 2018  

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

by John Milios, Dimitri Dimoulis and 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 ...

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Marx’s Value Theory Revisited. A ‘Value-form’ Approach

12 Apr , 2018  

Marx’s  Capital  does not present an analysis of different economic ‘models’ of ‘themes’ (first the ‘simple commodity production’, then the ‘capitalist commodity’, etc.). It has a unique object of study,  the capitalist mode of production  (i.e. the immanent regularities and tendencies of capitalist social relations), which Marx analyses, first of ...

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Value of Labour-Power, Wages, Productivity and Imperialism

10 Apr , 2018  

These are notes from, and for, a series of discussions on imperialism organised by Redline. (See here for other details) As such, they are not a fully rounded analysis, just some guidance on points in these debates.

A key point to note is that the discussion of these topics ...

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Documentation, EconoFiction

On the Character of Marxian Theory, “Ricardian Marxism” and the Role of F. Engels

21 Jan , 2018  

Exposition of the basic points of the Marxist theory of value and its ideological implications, of money (Parts I and II), of social capital and of crises (Parts III and IV) makes it clear that the theoretical analysis (the system of concepts and their logical implications) in question is not ...

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Against Labor, against Capital – An Interview with Robert Kurz

12 Okt , 2017  

An Interview with Robert Kurz – Sonia Montaño

1. What do you mean by “radical critique of value”?

As you know, the traditional Marxists of the workers movement only accused capitalism of depriving the wage workers of the famous surplus-value, which the owners of the means of production appropriate as ...

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Documentation, EconoFiction

Ernest Mandel’s contribution to Economic Dynamics

12 Sep , 2017  

Ernest Mandel’s contribution to  Marxist economic theory, made in the late sixties and early seventies, was in its time without equal. He rescued from oblivion the most central concept available to us today in explaining the dynamics of uneven development and crisis  – Marx’s concept of surplus profit. By analysing ...

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Creative Industries, Value Theory and Michael Heinrich’s New Reading of Marx

7 Jan , 2016  

Abstract: This article utilises the new reading of Marx found in the work of Michael Heinrich to analyse the creative industries. It considers the role played in the production of value by the labour that takes place in the sphere of circulation. The specific focus is on creative industries such ...

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