Leftists are also arguing over a political-economic understanding of the conditions created by the virus. For example, in Konkret, Justin Monday criticized the current crisis rhetoric by indicating that the deployment of labour-power is not being fundamentally called into question, but only deferred.

This a very professional movie made by a leftist director (Raul Peck), starring a number of rather good actors. It covers the time between 1842, when Marx was the chief editor of the Rheinische Zeitung, and early 1848, when the “Communist Manifesto” was finished.

For Capital’s explosive force to truly unfold, not only was education in general necessary, but also knowledge of the relevant economic and philosophical theories, in order to perceive not just the explicit, but also the implicit critiques.

For Marx, is a rising rate of surplus value (s/v) a part of the law itself (as it is presented in chapter 13 of vol. III of Capital) or is it a counteracting factor (dealt with in chapter 14)? There is an easy way to check: we just have to read chapter 13. Marx starts his presentation with a constant rate of surplus value and shows that a rising organic composition of capital leads to a falling rate of profit (pp. 317-18, all pages from the Penguin edition of Capital). Then very quickly he includes a rising rate of surplus value in his considerations (see pp. 319, 322, 326, 327, 333, 337). At pages 333 and 337 Marx even realizes the possibility of a profit rate rising with a rising rate of surplus value, but excludes such a possibility as an “isolated case” or not realistic without going into details. It is clear that he maintains the “law itself” not only with a constant rate of surplus value but also with a rising rate of surplus value!

DIE LINKE (the Left Party) has initiated a debate on its draft party program, which it wishes to officially adopt in Autumn 2011.  Neues Deutschland is joining this debate with a series of articles.  In the Neues Deutschland article published on 9 August 2010, Michael Heinrich tackles the issue of the relationship between capital and […]

Prophecies of Downfall The fact that Marx finally began with the composition of his long-planned economic work in the winter of 1857/1858 was directly occasioned by the economic crisis that broke out in the autumn of 1857 and the concomitant expectations of a deep trauma from which capitalism would no longer recover.  “I am working […]

Debates concerning the “Socialism of the 21st Century” are experiencing an upswing at the moment.  However, this century will initially be rather one of capitalism than socialism.  Not because there is once more an economic recovery.  Prosperity and crisis alternate constantly in capitalism, but behind this up-and-down process are tendencies towards an extension and further […]

Michael Heinrich is a political scientist and mathematician in Berlin and a member of the editorial board of Prokla — journal for critical social science.  Below is an interview with the “. . . ums Ganze!” [. . . All or Nothing!] coalition. “…ums Ganze!”: The federal government has staked out a position for the […]

An Introduction to Marx’ Notion of Money What is money?  This question hardly plays a role in everyday commerce.  What matters is that there is enough.  Bourgeois economic theories reduce money to its economic function.  But the ubiquity of money is fateful and presupposes certain conditions.  Hence, the critique of financial markets is incomplete when […]