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Subjects Archives: Political Economy
Why Marxian economics?
One of the best reasons for studying Marxian economics is to understand all those criticisms—the criticisms of mainstream economic theory and the criticisms of capitalism.
Why Modi’s government is not up to the task
The Modi regime believes that no matter how impoverished the people are their electoral support can always be won by promoting Hindutva and effecting a communal polarization. It is an utterly cynical view, but then, the present dispensation represents the acme of cynicism.
Medical workers of conviction: Speaking to Cuban doctors who heal the world
The United States government has continued attacking Cuban medical internationalism right up to the current pandemic, making wild allegations against the program that disparage the medical workers.
Deutsche Bank money laundering scandal could create greatest economic crisis in history
The leak of the FinCEN Files over the weekend has rocked global markets and augurs a financial crisis of epic proportions as Deutsche Bank hovers over the precipice.
Review of Jairus Banaji A Brief History of Commercial Capitalism
For Jairus Banaji, theory and history are tightly interwoven: without history, theory ends up ‘bad abstraction’; without theory, the intelligibility of history is doomed to fail.
Beyond the mainstream
This is certainly not the first time people have looked beyond mainstream economics.
Profit raten: On Coronavirus and Crisis
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.
Wise People Know That Winning a War Is No Better Than Losing One
U.S. President Donald Trump and his ‘war council’–led by Secretary of State Mike Pompeo–have amplified their aggression against China.
Tale of two capitalisms
Marxian economists recognize, just like mainstream economists, that capitalism has radically transformed the world in recent decades, continuing and in some cases accelerating long-term trends.
The revolutionary answers of C.L.R. James
The Black Lives Matter movement across the U.S. against police violence and racist inequality is one of the most dynamic political developments in years.
![I’ve just signed a contract with Polity Press to write a new book, “Marxian Economics: An Introduction.” The idea is to publish it in late 2021 or early 2022. - David F. Ruccio (Photo: [ht: adm])](https://mronline.org/wp-content/uploads/2020/09/exupl4jvcamiifh-copy-200x200.jpg "Contemporary relevance of Marxian economics")
Contemporary relevance of Marxian economics
My goal is to write a textbook that can fulfill two purposes: first, a stand-alone book for courses that are focused on Marxian economics or survey courses that have a section devoted to Marxian economics; second, it will also be useful as a companion text in a course that is based on reading all of […]
Which way?
Ups and downs in Germany are less dramatic than in Minsk or the USA, now suffering under the corona pandemic, terrifying forest fires and worrisome election-fever. But Germany, too, could veer left or right.
A victory for students and parents: SPLC, allies win case blocking DeVos from diverting COVID-19 relief funds away from public schools
A federal court has sent a clear message to U.S. Education Secretary Betsy DeVos: You cannot use a national crisis as an excuse to advance your education privatization agenda by siphoning desperately needed COVID-19 relief money away from public schools.
Times remain hard, especially for low-wage workers
The current economic crisis has hit workers hard. Unemployment rates remain high, with total weekly initial claims for unemployment insurance benefits continuing to grow.
A guide to flattening the curve of economic chaos
Well-thought-out policies can reverse the results of incompetence; the onus is on the Centre to spend now
The protracted crisis of capitalism
THERE is a commonly-held view that the current crisis in capitalism, which has resulted in a massive output contraction and increase in unemployment, is because of the pandemic; and that once the pandemic gets over, things will go back to “normal”.
Chart of the day
The number of continued claims for unemployment compensation, while below its peak, rose from the previous week and was more than 29 million American workers—a figure that includes workers receiving Pandemic Unemployment Assistance.
If humanity is to have any future at all
The history of capitalism as a world system is punctuated by struggles for world hegemony between declining hegemonic powers and rising states, usually leading to world wars. We are now in such a period, which had been building for some time under Obama and is now being pursued much more openly and belligerently under Trump.
Mainstream macroeconomics—pandemic edition
Right now, the United States is mired in an economic depression, the Pandemic Depression, not dissimilar to what happened in the 1930s and again after the crash of 2007-08.
