The theory of capital as power (CasP) is radically different from conventional political economy. In the conventional view, mainstream as well as heterodox, capital is seen a ‘real’ economic entity engaged in the production of goods and services, and capitalism …
Unbridgeable: Why Political Economists Cannot Accept Capital as Power
The Esoteric Marx This second lecture picks up on some key points from the first lecture to explore the ‘esoteric’ Marx, a subterranean current of Marxian thought distinct from the ‘exoteric’ Marx of the workers’ movement. I therefore want to …
This four-part lecture series asks what the Marxian critique of political economy can tell us about the twenty-first century, an historical moment marked by deindustrialization, economic stagnation, growing labour superfluity, and a political landscape in which the figure of the …
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 …
This paper establishes, and illustrates for the case of the UK, a temporal method for calculating the labour values of outputs from any process or sector of a market economy. It exhibits the temporal calculation of the Monetary Equivalent of …
This article investigates the mechanisms and causes of recessions and depressions, and their relation to the more spectacular financial crises which announce them. It demonstrates how the concept of the Monetary Expression of Labour Time (MELT) allows us to understand …
THE WHOLE OF THE STORM MONEY, DEBT AND CRISIS IN THE CURRENT LONG DEPRESSION
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 …
Value, Fictitious Capital and Finance. The Timeless of Karl Marx’s Capital
Planning and Anarchy Central planning?! Computers can do it!!! Among the intuitions animating the contemporary left, we must rank rather high the felt sense that powerful new computing technologies now offer a solution to problems of calculation previously insuperable for …
simple and unfolded value form On the one hand, we take a look at the so-called capital-logical reading (which has been widely discussed since the 1968 student movement, especially in Germany, based on Hans-Georg Backhaus as an analysis of value …
If one wants to follow the Japanese philosopher Kojin Karatani, Marx has posed the problem of the value form and value in the course of the theoretical treatment of the antinomy of intrinsic value and value relativism. (Cf. Karatani 2003) …
Kojin Karatani and the Historotranscendental Logic of Capital
The actualization of value depends on material, symbolic money, which as the counterpart of value – counterpart, insofar as money nourishes the illusion of being able to give crisisless form to the potentially infinite of exploitation – affirms and actualizes …
