Pub Date : 2023-01-01DOI: 10.13169/worlrevipoliecon.14.3.0443
Anatolii Arseienko, Vitalina Butkaliuk
Based on a class analysis, the article shows the failure of the commercialized health care system in the Global North and South to address the COVID-19 pandemic. To this end, the article investigates the dynamics, consequences, and prospects of the struggle by developed countries to overcome the coronavirus crisis, revealing the extremely low effectiveness and class limitations of the measures taken. The stumbling block in the way of curbing the pandemic on a global scale has been the refusal by developed countries to help developing countries vaccinate their populations. The brunt of the COVID-19 problem has been shifted by the capitalist state and monopolies onto the working class, leading to increased exploitation, excess mortality, and widening inequality. On the basis of an analysis of the health crisis in the capitalist world, the article concludes that global civilization must move toward a more just and democratic world order that is able to put the health of workers before monopoly profits, and to guarantee everyone the right to live with dignity.
{"title":"The Social Consequences of the Global Expansion of the COVID-19 Pandemic","authors":"Anatolii Arseienko, Vitalina Butkaliuk","doi":"10.13169/worlrevipoliecon.14.3.0443","DOIUrl":"https://doi.org/10.13169/worlrevipoliecon.14.3.0443","url":null,"abstract":"Based on a class analysis, the article shows the failure of the commercialized health care system in the Global North and South to address the COVID-19 pandemic. To this end, the article investigates the dynamics, consequences, and prospects of the struggle by developed countries to overcome the coronavirus crisis, revealing the extremely low effectiveness and class limitations of the measures taken. The stumbling block in the way of curbing the pandemic on a global scale has been the refusal by developed countries to help developing countries vaccinate their populations. The brunt of the COVID-19 problem has been shifted by the capitalist state and monopolies onto the working class, leading to increased exploitation, excess mortality, and widening inequality. On the basis of an analysis of the health crisis in the capitalist world, the article concludes that global civilization must move toward a more just and democratic world order that is able to put the health of workers before monopoly profits, and to guarantee everyone the right to live with dignity.","PeriodicalId":41482,"journal":{"name":"World Review of Political Economy","volume":"146 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135151209","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-01-01DOI: 10.13169/worlrevipoliecon.14.3.0328
Persefoni Tsaliki, Lefteris Tsoulfidis
This article examines the extent to which financialization is a new phase of capital accumulation characterized by its own economic laws in which the real (production) economy adjusts accordingly. In order to examine this hypothesis, the authors invoke the share of the financial sector in the GDP of the US, as the best meaningful metric to approximate the expansion of the financialization over time. The findings suggest that the financialization phenomena of the post-1982 years are comparable to those of the “roaring twenties.” The observed differences are quantitative, in the main, and although they indicate the presence of regularities, they, nevertheless, do not suggest an altogether different stage of finance-led capitalism.
{"title":"Financialization Historically Contemplated: Putting Old Wine in New Barrels","authors":"Persefoni Tsaliki, Lefteris Tsoulfidis","doi":"10.13169/worlrevipoliecon.14.3.0328","DOIUrl":"https://doi.org/10.13169/worlrevipoliecon.14.3.0328","url":null,"abstract":"This article examines the extent to which financialization is a new phase of capital accumulation characterized by its own economic laws in which the real (production) economy adjusts accordingly. In order to examine this hypothesis, the authors invoke the share of the financial sector in the GDP of the US, as the best meaningful metric to approximate the expansion of the financialization over time. The findings suggest that the financialization phenomena of the post-1982 years are comparable to those of the “roaring twenties.” The observed differences are quantitative, in the main, and although they indicate the presence of regularities, they, nevertheless, do not suggest an altogether different stage of finance-led capitalism.","PeriodicalId":41482,"journal":{"name":"World Review of Political Economy","volume":"23 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135151211","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-01-01DOI: 10.13169/worlrevipoliecon.14.3.0325
{"title":"World Review of Political Economy","authors":"","doi":"10.13169/worlrevipoliecon.14.3.0325","DOIUrl":"https://doi.org/10.13169/worlrevipoliecon.14.3.0325","url":null,"abstract":"","PeriodicalId":41482,"journal":{"name":"World Review of Political Economy","volume":"2014 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135151446","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-01-01DOI: 10.13169/worlrevipoliecon.14.2.0263
Paramjit Singh
This article examines the complex relationship between right-wing authoritarianism and neoliberalism in India. It explores the consequences of the right-wing authoritarian electoral majority and its alliance with neoliberal forces on democracy, economic development and distributive justice in India. It attributes the decline in economic growth, widespread unemployment, and precariousness of labor market to the alliance between right-wing extremist forces and neoliberal capital. It specifically exposes the colossal economic muddle created by austerity measures and the retreat of the state from distributional spheres. It argues that authoritarian shocks injected by the state have played a decisive role in expanding the network of primitive accumulation through widespread displacement and dispossession of petty and small producers.
{"title":"The Economic Consequences of Authoritarian Neoliberalism in India","authors":"Paramjit Singh","doi":"10.13169/worlrevipoliecon.14.2.0263","DOIUrl":"https://doi.org/10.13169/worlrevipoliecon.14.2.0263","url":null,"abstract":"This article examines the complex relationship between right-wing authoritarianism and neoliberalism in India. It explores the consequences of the right-wing authoritarian electoral majority and its alliance with neoliberal forces on democracy, economic development and distributive justice in India. It attributes the decline in economic growth, widespread unemployment, and precariousness of labor market to the alliance between right-wing extremist forces and neoliberal capital. It specifically exposes the colossal economic muddle created by austerity measures and the retreat of the state from distributional spheres. It argues that authoritarian shocks injected by the state have played a decisive role in expanding the network of primitive accumulation through widespread displacement and dispossession of petty and small producers.","PeriodicalId":41482,"journal":{"name":"World Review of Political Economy","volume":"1 1","pages":""},"PeriodicalIF":0.3,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"66275435","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-01-01DOI: 10.13169/worlrevipoliecon.14.2.0174
Leming Hu, Gang Liu, Guiai Gao
Proceeding from the perspective of historical materialism, this article examines technological revolution and industrial revolution as intermediate-level concepts for analyzing economic long waves, and reconstructs the political economy analysis framework of long-wave theory. Based on this framework, and in order to avoid a “mismatch” between economic long waves and the cycle of technological revolution, this article modifies the traditional method of periodizing economic long waves from trough to trough, instead employing the method of periodizing them from peak to peak as proposed by Perez. In this way, this article alters the periodization of economic long waves from the traditional five “inverted V-shaped” long waves to six “V-shaped” long waves. Within each industrial revolution, the technological revolution and institutional change that occur correspond to two “W-shaped” long-wave trends. Economic long waves are thus shown to be in essence external manifestations of the trend of evolution of the mode of production. In the final analysis, long-wave theory should not only reveal the decisive role of productivity and the mechanism of interaction between technology and the economy, but should also reveal the long-term changes undergone by politics and culture, and the laws that apply to them.
{"title":"The Periodization and Analytical Framework of Economic Long Waves: A New Study from the Perspective of Historical Materialism","authors":"Leming Hu, Gang Liu, Guiai Gao","doi":"10.13169/worlrevipoliecon.14.2.0174","DOIUrl":"https://doi.org/10.13169/worlrevipoliecon.14.2.0174","url":null,"abstract":"Proceeding from the perspective of historical materialism, this article examines technological revolution and industrial revolution as intermediate-level concepts for analyzing economic long waves, and reconstructs the political economy analysis framework of long-wave theory. Based on this framework, and in order to avoid a “mismatch” between economic long waves and the cycle of technological revolution, this article modifies the traditional method of periodizing economic long waves from trough to trough, instead employing the method of periodizing them from peak to peak as proposed by Perez. In this way, this article alters the periodization of economic long waves from the traditional five “inverted V-shaped” long waves to six “V-shaped” long waves. Within each industrial revolution, the technological revolution and institutional change that occur correspond to two “W-shaped” long-wave trends. Economic long waves are thus shown to be in essence external manifestations of the trend of evolution of the mode of production. In the final analysis, long-wave theory should not only reveal the decisive role of productivity and the mechanism of interaction between technology and the economy, but should also reveal the long-term changes undergone by politics and culture, and the laws that apply to them.","PeriodicalId":41482,"journal":{"name":"World Review of Political Economy","volume":"1 1","pages":""},"PeriodicalIF":0.3,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"66275329","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-01-01DOI: 10.13169/worlrevipoliecon.14.2.0294
Navpreet Kaur, C. Saratchand
The imposition of the Three Farm Laws by the union government of India in 2020 was intended to further corporate encroachment in agriculture. However, this resulted in an unprecedented resistance movement of farmers and workers. The union government of India eventually had to retreat, and the Three Farm Laws were repealed in 2021. In this article, we intend to briefly review with special reference to Punjab, the historical context of corporate encroachment into Indian agriculture, the unfolding of the resistance to this corporate encroachment, and a prognosis on the political economy of the neoliberal project in India.
{"title":"Resisting the Neoliberal Project in India: Punjab and the Struggle against Corporate Encroachment into Agriculture","authors":"Navpreet Kaur, C. Saratchand","doi":"10.13169/worlrevipoliecon.14.2.0294","DOIUrl":"https://doi.org/10.13169/worlrevipoliecon.14.2.0294","url":null,"abstract":"The imposition of the Three Farm Laws by the union government of India in 2020 was intended to further corporate encroachment in agriculture. However, this resulted in an unprecedented resistance movement of farmers and workers. The union government of India eventually had to retreat, and the Three Farm Laws were repealed in 2021. In this article, we intend to briefly review with special reference to Punjab, the historical context of corporate encroachment into Indian agriculture, the unfolding of the resistance to this corporate encroachment, and a prognosis on the political economy of the neoliberal project in India.","PeriodicalId":41482,"journal":{"name":"World Review of Political Economy","volume":"1 1","pages":""},"PeriodicalIF":0.3,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"66275445","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-01-01DOI: 10.13169/worlrevipoliecon.14.1.0004
Xian Zhang
Whether Marx’s economics and Marxist political economy can be formalized using mathematics is a controversial and divisive issue. From studying the text of Capital and its manuscripts, it emerges that Marx’s research on the capitalist mode of production involves the application of mathematical methods. Marx creates a set of symbols related to the social production of capitalism, and on that basis constructs an economic model corresponding to his theoretical analysis. Obviously, the mathematical method is an integral part of Marx’s economic methodology. In a certain sense, using mathematical methods to study and formalize Marx’s economics is in line with Marx’s approach to economic topics. However, the formalization of Marx’s economics must strictly observe the relevant principles; otherwise, it will lead to serious problems.
{"title":"The Formalization of Marx’s Economics","authors":"Xian Zhang","doi":"10.13169/worlrevipoliecon.14.1.0004","DOIUrl":"https://doi.org/10.13169/worlrevipoliecon.14.1.0004","url":null,"abstract":"Whether Marx’s economics and Marxist political economy can be formalized using mathematics is a controversial and divisive issue. From studying the text of Capital and its manuscripts, it emerges that Marx’s research on the capitalist mode of production involves the application of mathematical methods. Marx creates a set of symbols related to the social production of capitalism, and on that basis constructs an economic model corresponding to his theoretical analysis. Obviously, the mathematical method is an integral part of Marx’s economic methodology. In a certain sense, using mathematical methods to study and formalize Marx’s economics is in line with Marx’s approach to economic topics. However, the formalization of Marx’s economics must strictly observe the relevant principles; otherwise, it will lead to serious problems.","PeriodicalId":41482,"journal":{"name":"World Review of Political Economy","volume":"1 1","pages":""},"PeriodicalIF":0.3,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"66275224","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-01-01DOI: 10.13169/worlrevipoliecon.14.3.0357
B. Gloria Martínez, Alejandro Valle Baeza
This article aims at advancing an explanation, still to be completed, of the paradox of productivity differences and surplus value rate at an international level. New empirical evidence is presented, and it is suggested that an explanation should be developed based on the analysis of the problem of value transfers in international trade. According to the findings of Martínez and Valle (2011), there is empirical evidence that suggests a pattern in which underdeveloped countries with low productivity have a high value composition of capital and a high rate of surplus value, the former being as high as or higher than the corresponding one in a developed country. This work is a contribution to the development of the state of the empirical analysis. Said contribution is made based on econometric and statistical evidence of the relationship between rate of surplus value and value composition of capital of a selection of countries and a sample of 70 countries. Data from Penn World (PWT) v.10, v.9 or Extended Penn World Table (EPWT), v.4 are used.
本文旨在从国际层面对生产率差异与剩余价值率悖论进行解释，但仍有待完善。本文提出了新的经验证据，并建议在分析国际贸易中的价值转移问题的基础上，发展一种解释。根据Martínez和Valle(2011)的研究结果，有经验证据表明，生产率低的不发达国家具有高资本价值构成和高剩余价值率的模式，前者与发达国家的相应资本价值构成相同或更高。本文的工作是对发展现状的实证分析的一种贡献。上述贡献是基于一些国家和70个国家样本的剩余价值率与资本价值构成之间关系的计量经济学和统计证据做出的。数据来自Penn World (PWT) v.10, v.9或Extended Penn World Table (EPWT)， v.4。
{"title":"Capital Composition and Rate of Surplus Value: Empirical Evidence for Rethinking the Value Transfers in International Trade","authors":"B. Gloria Martínez, Alejandro Valle Baeza","doi":"10.13169/worlrevipoliecon.14.3.0357","DOIUrl":"https://doi.org/10.13169/worlrevipoliecon.14.3.0357","url":null,"abstract":"This article aims at advancing an explanation, still to be completed, of the paradox of productivity differences and surplus value rate at an international level. New empirical evidence is presented, and it is suggested that an explanation should be developed based on the analysis of the problem of value transfers in international trade. According to the findings of Martínez and Valle (2011), there is empirical evidence that suggests a pattern in which underdeveloped countries with low productivity have a high value composition of capital and a high rate of surplus value, the former being as high as or higher than the corresponding one in a developed country. This work is a contribution to the development of the state of the empirical analysis. Said contribution is made based on econometric and statistical evidence of the relationship between rate of surplus value and value composition of capital of a selection of countries and a sample of 70 countries. Data from Penn World (PWT) v.10, v.9 or Extended Penn World Table (EPWT), v.4 are used.","PeriodicalId":41482,"journal":{"name":"World Review of Political Economy","volume":"46 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134980561","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-01-01DOI: 10.13169/worlrevipoliecon.14.3.0426
Carlos Martinez
This article provides a detailed analysis of China’s ongoing struggle against poverty. In addition to discussing the recently concluded targeted poverty alleviation program, in which the CPC-led government achieved its goal of ending extreme poverty, the author discusses the anti-poverty measures taken during the various phases of the Chinese Revolution, including land reform in the liberated areas in the 1930s and 1940s; the period of initial socialist construction from 1949; reform and opening up from 1978; and the more recent measures aimed at building common prosperity. He concludes that poverty alleviation, and more broadly the improvement of people’s living standards, has been foundational to the entire Chinese socialist project and constitutes a key theme of each of its stages.
{"title":"China’s Long War on Poverty","authors":"Carlos Martinez","doi":"10.13169/worlrevipoliecon.14.3.0426","DOIUrl":"https://doi.org/10.13169/worlrevipoliecon.14.3.0426","url":null,"abstract":"This article provides a detailed analysis of China’s ongoing struggle against poverty. In addition to discussing the recently concluded targeted poverty alleviation program, in which the CPC-led government achieved its goal of ending extreme poverty, the author discusses the anti-poverty measures taken during the various phases of the Chinese Revolution, including land reform in the liberated areas in the 1930s and 1940s; the period of initial socialist construction from 1949; reform and opening up from 1978; and the more recent measures aimed at building common prosperity. He concludes that poverty alleviation, and more broadly the improvement of people’s living standards, has been foundational to the entire Chinese socialist project and constitutes a key theme of each of its stages.","PeriodicalId":41482,"journal":{"name":"World Review of Political Economy","volume":"137 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135151452","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-10-20DOI: 10.13169/worlrevipoliecon.13.4.0531
J. Pateman
Since its inception, Marxism has showcased the scientific superiority of political economy over economics. This article argues that Mao Zedong played an important role in demonstrating this superiority. In his A Critique of Soviet Economics, Mao criticised Soviet political economy for its economic focus, which underestimated the importance of politics and ideology. It was essential, Mao argued, to explore how the political and ideological superstructure affects the economic base. Only then can political economy scientifically understand the processes of socio-economic development, most notably the socialist revolution and period of socialist construction. This article argues that Mao’s arguments retain key insights for the study and development of Marxist political economy today. They remain especially important in the People’s Republic of China. By upholding and enriching Mao’s insights into the critical role of politics and ideology under socialism, the Communist Party of China has ensured the successful development of socialism with Chinese characteristics.
{"title":"Mao Zedong’s a Critique of Soviet Economics","authors":"J. Pateman","doi":"10.13169/worlrevipoliecon.13.4.0531","DOIUrl":"https://doi.org/10.13169/worlrevipoliecon.13.4.0531","url":null,"abstract":"Since its inception, Marxism has showcased the scientific superiority of political economy over economics. This article argues that Mao Zedong played an important role in demonstrating this superiority. In his A Critique of Soviet Economics, Mao criticised Soviet political economy for its economic focus, which underestimated the importance of politics and ideology. It was essential, Mao argued, to explore how the political and ideological superstructure affects the economic base. Only then can political economy scientifically understand the processes of socio-economic development, most notably the socialist revolution and period of socialist construction. This article argues that Mao’s arguments retain key insights for the study and development of Marxist political economy today. They remain especially important in the People’s Republic of China. By upholding and enriching Mao’s insights into the critical role of politics and ideology under socialism, the Communist Party of China has ensured the successful development of socialism with Chinese characteristics.","PeriodicalId":41482,"journal":{"name":"World Review of Political Economy","volume":" ","pages":""},"PeriodicalIF":0.3,"publicationDate":"2022-10-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46644065","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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