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Capitalism

Capitalism Author Anwar Shaikh
ISBN-10 9780199390632
Release 2016-02-12
Pages 960
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Orthodox economics operates within a hypothesized world of perfect competition in which perfect consumers and firms act to bring about supposedly optimal outcomes. The discrepancies between this model and the reality it claims to address are then attributed to particular imperfections in reality itself. Most heterodox economists seize on this fact and insist that the world is characterized by imperfect competition. But this only ties them to the notion of perfect competition, which remains as their point of departure and base of comparison. There is no imperfection without perfection. In Capitalism, Anwar Shaikh takes a different approach. He demonstrates that most of the central propositions of economic analysis can be derived without any reference to standard devices such as hyperrationality, optimization, perfect competition, perfect information, representative agents, or so-called rational expectations. This perspective allows him to look afresh at virtually all the elements of economic analysis: the laws of demand and supply, the determination of wage and profit rates, technological change, relative prices, interest rates, bond and equity prices, exchange rates, terms and balance of trade, growth, unemployment, inflation, and long booms culminating in recurrent general crises. In every case, Shaikh's innovative theory is applied to modern empirical patterns and contrasted with neoclassical, Keynesian, and Post-Keynesian approaches to the same issues. Shaikh's object of analysis is the economics of capitalism, and he explores the subject in this expansive light. This is how the classical economists, as well as Keynes and Kalecki, approached the issue. Anyone interested in capitalism and economics in general can gain a wealth of knowledge from this ground-breaking text.



Capitalism

Capitalism Author Anwar Shaikh
ISBN-10 9780190298340
Release 2016-01-15
Pages 896
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Orthodox economics operates within a hypothesized world of perfect competition in which perfect consumers and firms act to bring about supposedly optimal outcomes. The discrepancies between this model and the reality it claims to address are then attributed to particular imperfections in reality itself. Most heterodox economists seize on this fact and insist that the world is characterized by imperfect competition. But this only ties them to the notion of perfect competition, which remains as their point of departure and base of comparison. There is no imperfection without perfection. In Capitalism, Anwar Shaikh takes a different approach. He demonstrates that most of the central propositions of economic analysis can be derived without any reference to standard devices such as hyperrationality, optimization, perfect competition, perfect information, representative agents, or so-called rational expectations. This perspective allows him to look afresh at virtually all the elements of economic analysis: the laws of demand and supply, the determination of wage and profit rates, technological change, relative prices, interest rates, bond and equity prices, exchange rates, terms and balance of trade, growth, unemployment, inflation, and long booms culminating in recurrent general crises. In every case, Shaikh's innovative theory is applied to modern empirical patterns and contrasted with neoclassical, Keynesian, and Post-Keynesian approaches to the same issues. Shaikh's object of analysis is the economics of capitalism, and he explores the subject in this expansive light. This is how the classical economists, as well as Keynes and Kalecki, approached the issue. Anyone interested in capitalism and economics in general can gain a wealth of knowledge from this ground-breaking text.



Capitalism

Capitalism Author Anwar Shaikh
ISBN-10 9780199390656
Release 2016-01-15
Pages 896
Download Link Click Here

Orthodox economics operates within a hypothesized world of perfect competition in which perfect consumers and firms act to bring about supposedly optimal outcomes. The discrepancies between this model and the reality it claims to address are then attributed to particular imperfections in reality itself. Most heterodox economists seize on this fact and insist that the world is characterized by imperfect competition. But this only ties them to the notion of perfect competition, which remains as their point of departure and base of comparison. There is no imperfection without perfection. In Capitalism, Anwar Shaikh takes a different approach. He demonstrates that most of the central propositions of economic analysis can be derived without any reference to standard devices such as hyperrationality, optimization, perfect competition, perfect information, representative agents, or so-called rational expectations. This perspective allows him to look afresh at virtually all the elements of economic analysis: the laws of demand and supply, the determination of wage and profit rates, technological change, relative prices, interest rates, bond and equity prices, exchange rates, terms and balance of trade, growth, unemployment, inflation, and long booms culminating in recurrent general crises. In every case, Shaikh's innovative theory is applied to modern empirical patterns and contrasted with neoclassical, Keynesian, and Post-Keynesian approaches to the same issues. Shaikh's object of analysis is the economics of capitalism, and he explores the subject in this expansive light. This is how the classical economists, as well as Keynes and Kalecki, approached the issue. Anyone interested in capitalism and economics in general can gain a wealth of knowledge from this ground-breaking text.



Globalization and the Myths of Free Trade

Globalization and the Myths of Free Trade Author Anwar Shaikh
ISBN-10 9781135986940
Release 2007-01-24
Pages 272
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The world has become a human laboratory for the momentous social experiment called neoliberalism. Its proclaimed purpose is to reduce global poverty, its protocols are derived from the orthodox theory of competitive free markets and its policies are enforced by the full weight of the rich countries and global institutions such as the World Trade Organization (WTO), the World Bank and the International Monetary Fund (IMF). This book is a critical examination of this ongoing enterprise, of its history, theory, practice, and most of all, of its outcomes. An international team of contributors has been assembled including Lance Taylor, Ha-Joon Chang and Ajit Singh.



Measuring the Wealth of Nations

Measuring the Wealth of Nations Author Anwar M. Shaikh
ISBN-10 0521564794
Release 1996-11-28
Pages 404
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This book provides an alternate foundation for the measurement of the production of nations, and applies it to the U.S. economy for the postwar period. The patterns that result are significantly different from those derived within conventional systems of national accounts. Conventional national accounts seriously distort basic economic aggregates, because they classify military, bureaucratic and financial activities as the creation of new wealth, when in fact they should be classified as forms of social consumption that, like personal consumption, actually use up social wealth in the performance of their functions.



Capital as Power

Capital as Power Author Jonathan Nitzan
ISBN-10 9781134022298
Release 2009-06-02
Pages 464
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Conventional theories of capitalism are mired in a deep crisis: after centuries of debate, they are still unable to tell us what capital is. Liberals and Marxists both think of capital as an ‘economic’ entity that they count in universal units of ‘utils’ or ‘abstract labour’, respectively. But these units are totally fictitious. Nobody has ever been able to observe or measure them, and for a good reason: they don’t exist. Since liberalism and Marxism depend on these non-existing units, their theories hang in suspension. They cannot explain the process that matters most – the accumulation of capital. This book offers a radical alternative. According to the authors, capital is not a narrow economic entity, but a symbolic quantification of power. It has little to do with utility or abstract labour, and it extends far beyond machines and production lines. Capital, the authors claim, represents the organized power of dominant capital groups to reshape – or creorder – their society. Written in simple language, accessible to lay readers and experts alike, the book develops a novel political economy. It takes the reader through the history, assumptions and limitations of mainstream economics and its associated theories of politics. It examines the evolution of Marxist thinking on accumulation and the state. And it articulates an innovative theory of ‘capital as power’ and a new history of the ‘capitalist mode of power’.



The Long Depression

The Long Depression Author Michael Roberts
ISBN-10 9781608465071
Release 2016-09-01
Pages 380
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Setting out from an unapologetic Marxist perspective, The Long Depression argues that the global economy remains in the throes of a depression. Making the case that the profitability of capital is too low, and the debt built up before the Great Recession too high, leading radical economist Michael Roberts persuasively presents his case that this depression will persist until the profitability of capital is restored through yet another slump.



Contemporary Capitalism and Its Crises

Contemporary Capitalism and Its Crises Author Terrence McDonough
ISBN-10 9780521515160
Release 2010-01-11
Pages 360
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This volume analyses contemporary capitalism and its crises based on a theory of capitalist evolution known as the social structure of accumulation (SSA) theory. It applies this theory to explain the severe financial and economic crisis that broke out in 2008 and the kind of changes required to resolve it. The editors and contributors make available new work within this school of thought on such issues as the rise and persistence of the "neoliberal," or "free-market," form of capitalism since 1980 and the growing globalization and financialization of the world economy. The collection includes analyses of the U.S. economy as well as that of several parts of the developing world.



Imperialism in the Twenty First Century

Imperialism in the Twenty First Century Author John Smith
ISBN-10 9781583675793
Release 2016-01-22
Pages 384
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Winner of the first Paul A. Baran-Paul M. Sweezy Memorial Award for an original monograph concerned with the political economy of imperialism, John Smith's Imperialism in the Twenty-First Century is a seminal examination of the relationship between the core capitalist countries and the rest of the world in the age of neoliberal globalization.Deploying a sophisticated Marxist methodology, Smith begins by tracing the production of certain iconic commodities-the T-shirt, the cup of coffee, and the iPhone-and demonstrates how these generate enormous outflows of money from the countries of the Global South to transnational corporations headquartered in the core capitalist nations of the Global North. From there, Smith draws on his empirical findings to powerfully theorize the current shape of imperialism. He argues that the core capitalist countries need no longer rely on military force and colonialism (although these still occur) but increasingly are able to extract profits from workers in the Global South through market mechanisms and, by aggressively favoring places with lower wages, the phenomenon of labor arbitrage. Meticulously researched and forcefully argued, Imperialism in the Twenty-First Century is a major contribution to the theorization and critique of global capitalism.



Production of Commodities by Means of Commodities

Production of Commodities by Means of Commodities Author Piero Sraffa
ISBN-10 0521099692
Release 1975-05-15
Pages 98
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Production of Commodities by Means of Commodities has been writing in one form or another for most of life. You can find so many inspiration from Production of Commodities by Means of Commodities also informative, and entertaining. Click DOWNLOAD or Read Online button to get full Production of Commodities by Means of Commodities book for free.



Reclaiming Marx s Capital

Reclaiming Marx s Capital Author Andrew Kliman
ISBN-10 0739118528
Release 2007
Pages 231
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This book reclaims Marx's Capital from the myth of inconsistency. An accessible account written for non-specialist readers, it shows that the inconsistencies are actually caused by misinterpretation; the recent "temporal single-system interpretation" eliminates all of the alleged inconsistencies.



Origins of the Crisis in the U S S R Essays on the Political Economy of a Disintegrating System

Origins of the Crisis in the U S S R   Essays on the Political Economy of a Disintegrating System Author Hillel Ticktin
ISBN-10 9781315488035
Release 2016-09-16
Pages 224
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Hillel Ticktin has been one of the most controversial figures in Soviet studies for 25 years. His assertions that the Soviet economy was hopelessly inefficient, that the ruble was a sham, and that the elite was desperate once sounded outrageous. Ticktin consistently argued that perestroika would fail. In his view the USSR was and remained inherently Stalinist. It might lurch back and forth between reformist and reactionary leadership factions but, the system could not evolve, nor could it be restructured. Ultimately, it could only disintegrate, and when it did, the workers would hold the balance. This collection of essays offers a thorough sample of his views.



Structural Crisis and Institutional Change in Modern Capitalism

Structural Crisis and Institutional Change in Modern Capitalism Author Bruno Amable
ISBN-10 9780198787815
Release 2017-03-23
Pages 248
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This book analyses the evolution of the French model of capitalism in relation to the instability of socio-political compromises. In the 2010s, France was in a situation of systemic crisis, namely, the impossibility for political leadership to find a strategy of institutional change, or more generally a model of capitalism, that could gather sufficient social and political support. This book analyses the various attempts at reforming the French model since the 1980s, when the left tried briefly to orient the French political economy in a social-democratic/socialist direction before changing course and opting for a more orthodox macroeconomic and structural policy direction. The attempts of governments of the right to implement a radically neo-liberal structural policy also failed in the face of a significant social opposition. The enduring French systemic crisis is the expression of contradictions between the economic policies implemented by the successive left and right governments, and the existence of a dominant, social bloc, that is, a coalition of social groups that would politically support the dominant political strategy. Since 1978, both the right and the left have failed to find a solution to the contradictions between the policies they implemented and the expectations of their respective social bases, which are themselves inhabited by tensions and contradictions that evolve with the structural reforms that gradually transformed French capitalism.



Classical Econophysics

Classical Econophysics Author Allin F. Cottrell
ISBN-10 9781134020751
Release 2009-06-02
Pages 384
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This monograph examines the domain of classical political economy using the methodologies developed in recent years both by the new discipline of econo-physics and by computing science. This approach is used to re-examine the classical subdivisions of political economy: production, exchange, distribution and finance. The book begins by examining the most basic feature of economic life – production – and asks what it is about physical laws that allows production to take place. How is it that human labour is able to modify the world? It looks at the role that information has played in the process of mass production and the extent to which human labour still remains a key resource. The Ricardian labour theory of value is re-examined in the light of econophysics, presenting agent based models in which the Ricardian theory of value appears as an emergent property. The authors present models giving rise to the class distribution of income, and the long term evolution of profit rates in market economies. Money is analysed using tools drawn both from computer science and the recent Chartalist school of financial theory. Covering a combination of techniques drawn from three areas, classical political economy, theoretical computer science and econophysics, to produce models that deepen our understanding of economic reality, this new title will be of interest to higher level doctoral and research students, as well as scientists working in the field of econophysics.



Good Capitalism Bad Capitalism and the Economics of Growth and Prosperity

Good Capitalism  Bad Capitalism  and the Economics of Growth and Prosperity Author William J. Baumol
ISBN-10 0300134797
Release 2007
Pages 321
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Imagine this: a mere century ago, the purchasing power of an average American was one-tenth of what it is today. But what will it take to sustain that growth through the next century? And what can be said about economic growth to aspiring nations seeking higher standards of living for their citizens? In this important book, William Baumol, Robert Litan, and Carl Schramm contend that the answers to these questions lie within capitalist economies, though many observers make the mistake of believing that capitalism is of a single kind. Writing in an accessible style, the authors dispel that myth, documenting four different varieties of capitalism, some "Good" and some "Bad" for growth. The authors identify the conditions that characterise Good Capitalism: the right blend of entrepreneurial and established firms, which can vary among countries; as well as the features of Bad Capitalism. They examine how countries catching up to the United States can move faster toward the economic frontier, while laying out the need for United States itself to stick to and reinforce the recipe for growth that has enabled it to be the leading economic force in the world. This path-breaking book is a must read for any one who cares about global growth and how to ensure America's economic future.



Eminent Economists II

Eminent Economists II Author Michael Szenberg
ISBN-10 9781107040533
Release 2014-02-24
Pages 470
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The sequel to Eminent Economists, this book presents the ideas of some of the most outstanding economists of the past half century. The contributors, representing divergent points of the ideological compass, present their life philosophies and reflect on their conceptions of human nature, society, justice, and the source of creative impulse. These self-portraits reveal details of the economists' personal and professional lives that capture the significance of the total person. The essays represent streams of thought that lead to the vast ocean of economics, where gems of the discipline lie, and the volume will appeal to a wide array of readers, including professional economists, students, and laypersons who seek a window into the heart of this complex field. The contributors include Alan S. Blinder, Clair Brown, John Y. Campbell, Vincent P. Crawford, Paul Davidson, Angus Deaton, Harold Demsetz, Peter Diamond, Avinash Dixit, Barry Eichengreen, Jeffrey Frankel, Richard B. Freeman, Benjamin M. Friedman, John Hull, Michael D. Intriligator, Peter B. Kenen, Anne O. Krueger, Helen F. Ladd, Harry M. Markowitz, Frederic S. Mishkin, Elinor Ostrom, Anwar Shaikh, Jeremy J. Siegel, Vernon L. Smith, Robert M. Stern, Myra H. Strober, Hal R. Varian, Michelle J. White, and Marina V.N. Whitman.



Capitalism 4 0

Capitalism 4 0 Author Anatole Kaletsky
ISBN-10 9781610390743
Release 2011-06-28
Pages 448
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In this controversial book, Anatole Kaletsky puts the upheavals of 2007-2009 in historical and ideological perspective. He shows how the forces that precipitated the financial meltdown are now creating a new and stronger version of the global capitalist system-- one that will continue to be led and shaped by the U.S. if its businesses and politicians play their cards well. This is Capitalism 4.0, and it will change politics, finance, international relations, and economic thinking in the coming decades.