Economics

Marxist economists analyse the crisis

Financial crisis

Author: 

Costas Lapavitsas/Leo Panitch/Fred Moseley/Michel Husson/Andrew Kliman/David Laibman/Simon Mohun/Trevor Evans/Robert Brenner

Antecedents and sequels of the crisis: discussion notes by Martin Thomas on the first two "rounds", November 2010.
December 2008 onwards: second comments, and some new contributors
1. Michel Husson: The Crisis of Neo-Liberal Capitalism
Andrew Kliman and David Laibman are new contributors, and Michel Husson, Fred Moseley, Leo Panitch, and Costas Lapavitsas present second thoughts, in a symposium also including Simon Mohun, Trevor Evans, Robert Brenner, and Dick Bryan.

Marxist Theory and History: 

Fair trade, free trade, and socialism

Author: 

Paul Hampton

Trade is a vital part of the neoliberal economic, political and ideological regime that now dominates the world economy and most national states.

In this pamphlet we try to grasp the essential features of the world economy, especially relating to trade issues.

Issues and Campaigns: 

Marxist Theory and History: 

Publications: 

The real price of gold

Author: 

Kieran Miles

The pursuit of gold has led to great exploitation throughout history.

From the demands of the Pharaohs to be buried with enormous wealth; the use of slaves in mining operations in the Roman Empire; the genocide of indigenous peoples, first by the Conquistadors, then Columbus and the colonisers of the Americas, continued in the Californian Gold Rush, the “Scramble for Africa” by the major imperialist powers, and the Klondike; the Boer Wars, fought over the Witwatersrand mines; the use of forced labour in the gold mines of the Kolyma gulag; the list continues.

Although most currencies are now depegged from the gold standard, gold is still used in some parts of the world to trade with.

Publications: 

Marxist Theory and History: 

Black slavery in North America

Author: 

George Novack

History is rich in examples of the revival of institutions appropriate to more primitive civilizations in advanced societies. Mankind is infinitely ingenious in adapting old cultural forms to new uses under the changed conditions of a new social order. Like a thrifty housewife, humanity hesitates to discard familiar acquisitions, however outmoded; it prefers to store them in attics or cellars in the hope of finding a use for them in the future. The history of economics, no less than the history of philosophy, religion, and politics, shows that such expectations are often realized.

History is rich in examples of the revival of institutions appropriate to more primitive civilizations in advanced societies - old cultural forms adapted to new uses under a new social order. Chattel slavery in America is a striking case in point.

Marxist Theory and History: 

Around the world: 

Negro Slavery in North America

Author: 

George Novack

History is rich in examples of the revival of institutions appropriate to more primitive civilizations in advanced societies. Mankind is infinitely ingenious in adapting old cultural forms to new uses under the changed conditions of a new social order. Like a thrifty housewife, humanity hesitates to discard familiar acquisitions, however outmoded; it prefers to store them in attics or cellars in the hope of finding a use for them in the future. The history of economics, no less than the history of philosophy, religion, and politics, shows that such expectations are often realized.

History is rich in examples of the revival of institutions appropriate to more primitive civilizations in advanced societies - old cultural forms adapted to new uses under a new social order. Chattel slavery in America is a striking case in point.

Marxist Theory and History: 

Around the world: 

Negro Slavery in North America

Author: 

George Novack

History is rich in examples of the revival of institutions appropriate to more primitive civilizations in advanced societies. Mankind is infinitely ingenious in adapting old cultural forms to new uses under the changed conditions of a new social order. Like a thrifty housewife, humanity hesitates to discard familiar acquisitions, however outmoded; it prefers to store them in attics or cellars in the hope of finding a use for them in the future. The history of economics, no less than the history of philosophy, religion, and politics, shows that such expectations are often realized.

History is rich in examples of the revival of institutions appropriate to more primitive civilizations in advanced societies - old cultural forms adapted to new uses under a new social order. Chattel slavery in America is a striking case in point.

Marxist Theory and History: 

Around the world: 

US courts strangle Argentina

On 29 June, Argentina went into technical default on its foreign debt. 30 days “grace” expires on 29 July. Either the Argentine government fixes a deal before then, or the default goes into full force.

This drama is the outcome of 13 years’ legal wranglings since Argentina defaulted on its debt in 2001. Then, as usually happens in such cases, the Argentine government negotiated a deal with the bondholders to pay them off at a reduced rate.

On 29 June, Argentina went into technical default on its foreign debt. 30 days “grace” expires on 29 July. Either the Argentine government fixes a deal before then, or the default goes into full force.

Around the world: 

Marxist Theory and History: 

Publications: 

Kool-Aid or truth?

Since 23 May, debate has raged among economists about an attempt by journalists on the Financial Times to refute the claim by Thomas Piketty, in his best-seller Capital in the 21st Century, that wealth inequality is rising and likely to continue to rise in the USA and Europe.

Since 23 May, debate has raged among economists about an attempt by journalists on the Financial Times to refute the claim by Thomas Piketty, in his best-seller Capital in the 21st Century, that wealth inequality is rising and likely to continue to rise in the USA and Europe.

Most economists, even quite conservative ones, reckon that Piketty has come best out of the row.

Issues and Campaigns: 

Culture and Reviews: 

Marxist Theory and History: 

Publications: 

Pages