By Michael Charles Howard, John Edward King
The first quantity of this serious background covers the social, political, and theoretical forces in the back of the improvement of Marxian economics from Marx's loss of life in 1883 till 1929, the yr marking the onset of Stalin's "revolution from above," which as a result remodeled the Soviet Union right into a smooth superpower. in the course of those years, Marxists in either Russia and Germany discovered their financial rules inextricably associated with functional political difficulties, and handled idea as a advisor to motion. This publication systematically examines the real theoretical literature of the interval, together with insightful works through political functionaries outdoor academia--journalists, social gathering organizers, underground activists, and lecturers within the hard work movement--presented the following because the basic forgers of Marxian fiscal thought.
Beginning with Engels's writings, this ebook analyzes the paintings of top Marxist economists within the moment foreign, then concludes with a evaluate of the highbrow events in the Marxian political economic system through the Nineteen Twenties. A moment quantity treating the interval from 1929 to the current will follow.
Originally released in 1989.
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Extra resources for A History of Marxian Economics, Volume II: 1929-1990
The slower the sum of wages and the faster the sum of profits in society grows, the slower is the growth of mass consumption and the faster the growth of the social productive apparatus. Thus everything hinges upon the relative shares of wages and profits. 63 Bauer formalises these insights in the first-ever mathematical model of underconsumption to come from a Marxist writer. He defines accumulation as the difference between net output and consumption. If the rate of exploitation increases, accumulation will accelerate.
Soviet industrialisation also exhibited a bias in favour of capital- intensive techniques of production. This reflected the goal of 'catching up and overtaking' advanced capitalist countries, as well as the traditional Marxist belief in the superior efficiency of large-scale organisation. But Dobb again sought to humanise the issue. 55 As with a concentration of investment in department I, any initial cost in terms of forgone consumption would be temporary and compensated by higher consumption later.
145-6. Ibid, pp. 100-6 and 209-13; and 147-55, respectively. Ibid, pp. 156-62 and 162-89 respectively. 22 The Great Depression and Stalinism 36. M. Tugan-Baranovsky, Studien Zur Theorie und Geschichte der Handelskrisen in England (Jena: Fischer, 1901), pp. 197-231; L. von Bortkiewicz, 'Value and Price in the Marxian System", International Economic Papers 2, 1952, pp. 36-51 (first published 1907). See also B. Croce, Historical Materialism and the Economics of Karl Marx (London: Cass, 1966), pp. 142-58 (an essay first published in 1899); see also volume I of this book, Ch.
A History of Marxian Economics, Volume II: 1929-1990 by Michael Charles Howard, John Edward King