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Provides an in-depth explanation of the underlying determinants of trade cycles and the essential political and other extraeconommic factors that are required for the timing of the all-important upswing. Ernest Mandel is the author of "The Formation of the
Late Capitalism is the first major synthesis to have been produced by the contemporary revival of Marxist economics. It represents, in fact, the only systematic attempt so far ever made to combine the general theory of the "laws of motion" of the capitalist mode of production developed by Marx, with the concrete history of capitalism in the twentieth century. Mandel’s book starts with a challenging discussion of the appropriate methods for studying the capitalist economies. He seeks to show why the classical approaches of Luxemburg, Bukharin, Bauer and Grossman failed to accomplish the further development of Marxist theory whose urgency became evident after Marx's death. He then sketches the structure of the world market and the variant types of surplus-profit that have characterized its successive stages. On these foundations Late Capitalism proceeds to advance an extremely bold schema of the "long waves" of expansion and contraction in the history of capitalism, from the Napoleonic Wars to the present. Mandel criticizes and refines Kondratieff's famous use of the notion. Mandel’s book surveys in turn the main economic characteristics of late capitalism as it has emerged in the contemporary period. The last expansionary long wave, it argues, started with the victory of fascism on the European continent and the advent of the war economies in the US and UK during the 1940s, and produced the record world boom of 1947-72. Mandel discusses the reasons why the dynamic upswing of growth in this period was bound to reach its limits at the turn of the 1970s, and why a long wave of economic stagnation and intensified class struggle has set in today. Late Capitalism is a landmark in Marxist economic literature. Specifically designed to explain the international recession of the 1970s, it is a central guide to understanding the nature of the world economic crisis today.
The ambition of this book is to resituate the problem of 'world literature', considered as a revived category of theoretical enquiry, by pursuing the literary-cultural implications of the theory of combined and uneven development. This theory has a long pedigree in the social sciences, where it continues to stimulate debate. But its implications for cultural analysis have received less attention, even though the theory might be said to draw attention to a central -perhaps the central - arc or trajectory of modern(ist) production in literature and the other arts worldwide. It is in the conjuncture of combined and uneven development, on the one hand, and the recently interrogated and expanded categories of 'world literature' and 'modernism', on the other, that this book looks for its specific contours. In the two theoretical chapters that frame the book, the authors argue for a single, but radically uneven world-system; a singular modernity, combined and uneven; and a literature that variously registers this combined unevenness in both its form and content to reveal itself as, properly speaking, world-literature. In the four substantive chapters that then follow, the authors explore a selection of modern-era fictions in which the potential of their method of comparativism seems to be most dramatically highlighted. They treat the novel paradigmatically, not exemplarily, as a literary form in which combined and uneven development is manifested with particular salience, due in no small part to its fundamental association with the rise of capitalism and its status in peripheral and semi-peripheral societies as a 'modernising' import. The peculiar plasticity and hybridity of the novel form enables it to incorporate not only multiple literary levels, genres and modes, but also other non-literary and archaic cultural forms - so that, for example, realist elements might be mixed with more experimental modes of narration, or older literary devices might be reactivated in juxtaposition with more contemporary frames.
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.
Representing Capital, Fredric Jameson’s first book-length engagement with Marx’s magnum opus, is a unique work of scholarship that records the progression of Marx’s thought as if it were a musical score. The textual landscape that emerges is the setting for paradoxes and contradictions that struggle toward resolution, giving rise to new antinomies and a new forward movement. These immense segments overlap each other to combine and develop on new levels in the same way that capital itself does, stumbling against obstacles that it overcomes by progressive expansions, which are in themselves so many leaps into the unknown.
"Portions of this book were originally published as The Law of value and historical materialism c1978 by Monthly Review Press."
The theory of crisis has always played a central role within Marxism, and yet has been one of its weakest elements. Simon Clarke's important new book provides the first systematic account of Marx's own writings on crisis, examining the theory within the context of Marx's critique of political economy and of the dynamics of capitalism. The book concentrates on the scientific interpretation and evaluation of the theory of crisis, and will be of interest to mainstream economists, as well as to sociologists, political scientists and students of Marx and Marxism.
The social structure of accumulation (SSA) approach seeks to explain the long-term fortunes of capitalist economies in terms of the effect of political and economic institutions on growth rates. This book offers an ideal introduction to this powerful tool for understanding capitalist growth, analysing the social and economic differences between countries and the reasons for the successes and failures of institutional reform. The contributors cover a wide range of topics, including the theoretical basis of the SSA approach, the postwar financial system, Marxian and Keynesian theories of economic crisis, labour-management relations, race and gender issues, and the history of institutional innovation. Combining newly written essays with classic articles of the SSA school, the book examines the international economy and the economies of Japan, South Africa, and Puerto Rico, as well as the United States.