scholarly journals Anwar Shaikh and the classical theory of interest: a critical note

2019 ◽  
Author(s):  
Jan Toporowski
Keyword(s):  
Classical Theory ◽  
Recent Book ◽  
Capitalist Production ◽  
Capitalist Economy ◽  
Critical Note ◽  
Classic Theory ◽  
Production And Distribution ◽  
Rate Of Profit ◽  
Ricardian Theory

Abstract The Note examines the theory of interest put forward in Shaikh’s recent book Capitalism, Competition, Conflict, Crises which presents the classic Ricardian theory of interest, in which the rate of interest is determined by the industrial rate of profit, as the basis for the book’s analysis of banking and credit. The Note argues that the classic theory of Anwar Shaikh holds true only under special assumptions, namely when money is a produced commodity, and credit is external to the system of capitalist production. However, in the modern capitalist economy, credit is endogenous to the system of production and distribution. In this more general case, debt and interest have the function of redistributing income, but are unrelated to the rate of profit from production.

scholarly journals A "Primeira Versão" da Teoria da Crise de Marx: a queda da massa de mais-valia social e o limite interno absoluto do capital

2019 ◽  
Vol 49 (1) ◽  
pp. 163-203
Author(s):  
Nuno Miguel Cardoso Machado
Keyword(s):  
Surplus Value ◽  
Capitalist Economy ◽  
Organic Composition ◽  
The Absolute ◽  
The Law ◽  
Rate Of Profit ◽  
Composition Of Capital

Abstract Marx's theory of crisis is usually associated with the law of the tendential fall in the rate of profit presented in volume three of Capital. According to Marx, the rising organic composition of capital - the fact that variable capital grows in absolute terms, but falls relatively because of the faster growth of constant capital - results in the fall of the general rate of profit, which undermines the reproduction of capital. In this article I will argue that: i) there is a "first version" of Marx's theory of crisis, outlined especially in the Grundrisse, which ascribes the secular crisis of the capitalist economy to the absolute decline of living labour and, therefore, to the falling mass of socially produced surplus-value; ii) only this "first version" of the theory of crisis allows the absolute internal limit of capital to be deduced consistently.

A Critical Analysis of Capitalism, Capital Accumulation and Crisis Theory in David Harvey

2020 ◽  
pp. 097674792095300
Author(s):  
Tanaya Majumder
Keyword(s):  
Business Cycles ◽  
Critical Review ◽  
Critical Analysis ◽  
Capital Accumulation ◽  
Capitalist Economy ◽  
Crisis Theory ◽  
Surplus Labour ◽  
The One ◽  
Rate Of Profit ◽  
Marxist Tradition

This article is a critical review of David Harvey’s essentialist theorisation of a capitalist economy and its crisis from a class focused Marxist perspective. The first part examines Harvey’s immense contribution to the understanding of space and spatiality of capitalism within the Marxist tradition. Capital accumulation in his theorisation serves as the impresario of space and spatiality and the harbinger of capitalist crisis in general. Expanding on a class focused approach, the second part provides a critique of Harvey’s methodology and crisis theory in which the law of capital accumulation reigns supreme. Specifically, using an anti-essentialist methodology of overdetermination with class process of surplus labour as the theoretical entry point, as developed by Resnick and Wolff, I argue that no correspondence of the rate of capital accumulation with those of rate of profit and rate of class distribution can be drawn. This unpredictability renders capitalism inherently unstable, prone to business cycles whose cause cannot be reduced to any chosen causal factor such as the one reducible to capital accumulation.

The Simulation of the Planting Movement for the Dibble-Type Transplanter

2011 ◽  
Vol 130-134 ◽  
pp. 519-523
Author(s):  
Yong Cheng Chen ◽  
Xin Yan Qin ◽  
Lei Liu ◽  
Shuang Ji Hu ◽  
Ke Wu
Keyword(s):  
Computer Simulation ◽  
Working Conditions ◽  
Classical Theory ◽  
Characteristic Parameter ◽  
Classic Theory ◽  
Computing Simulation

Based on the movement procedure of the Dibble-type Transplanter, the equation of planting movement for the planting apparatus was established. According to the classic theory characteristic parameter λ>1 planting is necessary for the normal working conditions, computer simulation depending on the equation of planting movement was proceeded. The purpose of the computing simulation is to emulate the movement of the Dibble-type Transplanter. Several kind of values for λ is considered, such as the condition λ<1, λ=1 and λ>1. Through the analysis of the computer results, the classical theory λ>1 is necessary for the normal working conditions is confirmed.

scholarly journals Nota crítica sobre Francisco Galán Vélez, Una metafísica para tiempos posmetafísicos. La propuesta de Bernard Lonergan de una Metametodología, México: Universidad Iberoamericana, 2015, 488 p. A Critical Note about Francisco Galán Vélez, Una Metafísica para tiempos posmetafísicos. La propuesta de Bernard Lonergan de una Metametodología, Mexico: Universidad Iberoamericana, 2015, 488 p.

2017 ◽  
Author(s):  
Paniel Osberto Reyes Cárdenas
Keyword(s):  
Recent Book ◽  
Bernard Lonergan ◽  
Human Knowledge ◽  
Critical Note

Esta nota crítica estudia la obra reciente del Prof. Francisco Galán en su proyecto de presentar una metafísica para tiempos pos-metafísicos, es decir, el retomar la tarea de reconstruir la estructura inteligible de la realidad a partir del reconocimiento de la estruc- tura del conocimiento humano en sus distintos patrones de experiencia y articulado por el deseo desasido de conocer. El Profesor Galán encuentra inspiración en el trabajo del Jesui- ta canadiense Bernard Lonergan y presenta su proyecto como un comentario extendido y una propuesta para considerar seriamente las propuestas del mismo. This is a critical note of the recent book of Prof. Francisco Galán and his project of introducing a Meaphysics for post-metaphysical times, i.e., his endeavour to undertake a reconstruction of the intelligible structure of reality from the discovering of the structure of human knowledge in the di erent pa ern of experiences and articulated by a pure desire of knowing. Professor Galán fins inspiration in the works of the Canadian Jesuit philosopher Bernard Lonergan and introduces his own project as an extended comment and a proposal to consider seriously Lonergan’s insights. 

A Reply to Lianos's Critique

1995 ◽  
Vol 17 (2) ◽  
pp. 313-315
Author(s):  
Elias L. Khalil
Keyword(s):  
The Other ◽  
Capitalist Production ◽  
Rate Of Profit

Theodore P. Lianos (1995) agrees with the primary thesis of my paper (Khalil 1994), namely, if Karl Marx's theory is correct about the tendency of the rate of profit to fall in capitalist production, it should imply that all modes of production (including socialist production) also suffer from the tendency. Lianos raises two issues. One is secondary and the other is irrelevant.

Considering (Economic and Ecological) Crisis from a Communist Perspective

2013 ◽  
Vol 12 (1-2) ◽  
pp. 194-218 ◽  
Author(s):  
George Liodakis
Keyword(s):  
Human Development ◽  
Ecological Impact ◽  
Ecological Crisis ◽  
Capitalist Production ◽  
Strategic Response ◽  
Organic Composition ◽  
Sustainable Human Development ◽  
Integrated Interpretation ◽  
Rate Of Profit ◽  
The Relationship

AbstractThe exacerbated (economic and ecological) crisis and the failure of conventional theories and policies aiming at eco-regulation and sustainable development of capitalism make it imperative to consider this socio-ecological crisis from an anti-systemic, communist perspective. This article is an attempt to articulate a unified and integrated interpretation of this socio-ecological crisis, based on a dialectical conception of the relationship between society and nature. The over-accumulation, rising organic composition of capital, and falling rate of profit play a central role in the analysis of this crisis and the articulation of its particular forms. As argued, capital’s strategic response to crisis and the deep restructuring of capitalism cannot ensure ecological and social sustainability, and more importantly the requirements of a socially acceptable human development. While there is some evidence of a recurrent accumulation and crisis, we are rather witnessing a secular downturn of capitalism and all attempts or tendencies towards “dematerialization” or “decoupling” of capitalist production (and growth) from its detrimental ecological impact fail to effectively encounter the root causes of crisis. An attempt is finally made to draw the “broad contours” of an alternative, communist outlook in overcoming this socio-ecological crisis, and a working-class strategy ensuring the conditions of sustainable human development and an ecologically compatible society.

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