The Financialisation Hypothesis and Marxism: a Positive Contribution or a Trojan Horse? – COUNTERPUNCH May 2018

Stavros Mavroudeas Blog

https://www.counterpunch.org/2018/05/11/the-financialisation-hypothesis-and-marxism-a-positive-contribution-or-a-trojan-horse/

May 11, 2018

The Financialisation Hypothesis and Marxism: a Positive Contribution or a Trojan Horse?

byStavros Mavroudeas

FacebookTwitterGoogle+RedditEmail

Introduction

 The Financialisation Hypothesis (FH) is a popular argument in contemporary Heterodox Economics, Marxist Political Economy but also in Mainstream Economics. Its basic thesis is that modern capitalism has undergone a radical transformation during the last three decades. The financial system, through a series of innovative mechanisms, has conquered capitalism’s commanding heights, became independent from productive capital and has transformed the whole system according to its own prerogatives. This new financialized (or financial or finance-dominated or fiduciary) capitalism operates completely different from traditional capitalism.

The FH proposes four stylised facts as its factual basis:

+ The increased weight of the financial sector in contemporary advanced capitalist economies (share in GDP, profits, new complex financial instruments).

+ Corporate sector’s recent trend to finance itself through retained…

Ver la entrada original 5.963 palabras más

THE HISTORICAL PEAK OF THE RATE OF SURPLUS VALUE AND THE “NEW NORMAL” OF THE CHINESE ECONOMY: A POLITICAL ECONOMY ANALYSIS

Hao Qi. Revista de Economia Contemporânea (2018) 22(1): p. 1-22

This paper reports a homogeneous series of the rate of surplus value (RSV, hereaf-

ter) for the Chinese economy using a Marxian approach. This approach highlights

the division between productive labor and unproductive labor, and argues that the

value that unproductive labor obtains is a transfer of surplus value.

Descargue el artículo completo

Download full article

Los 10 mejores libros de economía marxista de 2017

x Michael Roberts

El año pasado se publicaron algunos libros fundamentales e importantes de economía marxista

Los de 2016 incluyen la obra maestra de Anwar Shaikh, Capitalismo: competencia, conflictos y crisis (que voy leyendo poco a poco de forma regular); Fred Moseley, Dinero y Totalidad, una imponente defensa de la teoría del valor de Marx; Francois Chesnais, El Capital Financiero en la actualidad, que describe las tendencias  de las finanzas modernas; así como las importantes contribuciones de Tony Norfield y John Smith (El Imperialismo en el siglo XXI).

Fue difícil competir con ellos en 2017. Sin embargo, ese año se conmemoró el 150 aniversario de la publicación del Volumen I de El Capital de Karl Marx, por lo que se publicaron algunos libros importantes sobre él que todo el mundo debería leer.

Leer texto completo [PDF]

Dirección corta: https://lahaine.org/yQ6

Texto completo en: https://www.lahaine.org/los-10-mejores-libros-de

Se cerró el acceso al archivo del filósofo Lukás, apoyemos que se revierta la acción.

Message from the Lukacs Archive:

We stand with the Archive. And you?

“The man, who wants to act, has not really huge opportunity for action.. But
there is no moment, when one could not do something.” (György Lukács)

On 24 May 2018 the last research associate of the Georg Lukács Archives of
the Hungarian Academy of Sciences was banned from the Archives after
twenty-eight years of employment. Despite the local and international
protesst the Academy with the assistance of its own library, closed the
archives of the only world-renowned Hungarian philosopher, which has existed
since 1972, by this decision after the liquidation of research and takeover
of the manuscripts. The Archives ceased to exist as venue attracting
international interest and researchers by replacing the locks on its doors.

The Lukács Archives International Foundation (LANA) continues to struggle
for preserving the philosopher’s legacy with hoping for minimal success.. We,
who have had the opportunity to work at the Archive and/or enjoy the support
and help of the Archive during our research, and for whom access to the
printed and written manuscripts hold at the Archive will continue to be an
ineluctable necessity in our future work, stand with them.

Therefore we repeatedly call on those responsible for the Hungarian Academy
of Sciences and its library to undo this decision, which not only makes the
research impossible, but also extremely damages it.

Share this protest letter with organizations and/or individuals as much as
possible, because the Archive under the threat of total closure, and probably
this is the last opportunity to act. If you want to express your willingness
to join, please, send an e-mail to muvesz.felelos.szolidaris@gmail.com [1].
We steadily update the list of signatories.

[1] muvesz.felelos.szolidaris@gmail.com