Pub Date : 2024-06-13DOI: 10.1177/04866134241259073
D. Basu, C. Haas, Thanos Moraitis
In this note, we provide a rejoinder to Rieu (2024), which had presented a critical commentary on our analysis of the intensification of labor in Basu, Haas, and Moraitis (2024). JEL classification: B51, C02
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Pub Date : 2024-04-23DOI: 10.1177/04866134241245478
Kenneth Fox
{"title":"Book Review: Modern Advertising and the Market for Audience Attention","authors":"Kenneth Fox","doi":"10.1177/04866134241245478","DOIUrl":"https://doi.org/10.1177/04866134241245478","url":null,"abstract":"","PeriodicalId":502823,"journal":{"name":"Review of Radical Political Economics","volume":"134 25","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-04-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140668746","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 : 2024-04-23DOI: 10.1177/04866134241247573
G. Quattromini
{"title":"Book Review: Value and Unequal Exchange in International Trade: The Geography of Global Capitalist Exploitation","authors":"G. Quattromini","doi":"10.1177/04866134241247573","DOIUrl":"https://doi.org/10.1177/04866134241247573","url":null,"abstract":"","PeriodicalId":502823,"journal":{"name":"Review of Radical Political Economics","volume":"19 8","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-04-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140668217","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 : 2024-04-18DOI: 10.1177/04866134241239694
Bruno Höfig, Leonardo Paes Müller, Iderley Colombini
This article introduces the distinction between money-as-money dealing capital (MMDC) and money-as-capital dealing capital (MCDC), laying the foundations for new developments in the field of Marxian political economy. First, it explains why banks, which manage the circulation of money-as-money, are able to issue instruments that perform monetary functions, and also why non-bank financial intermediaries, which manage the circulation of money-as-capital, tend to become increasingly important as the capitalist mode of production evolves. The distinction between MMDC and MCDC also allows for a more thorough understanding of the nature of Marx’s category of interest-bearing capital (IBC), explaining when and why a capital’s net income takes the form of profit and interest, unveiling the mechanisms that produce the (socially valid) illusion that every capital bears interest. JEL Classification: B14, B26, E11, E43, E44
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Pub Date : 2024-03-28DOI: 10.1177/04866134241232492
Saswata Guha Thakurata
It is imperative to explore the contribution of the Indian state to the country’s impressive long-term growth performance during the free-market era, given the looming demand deficiency problem arising from this iniquitous growth process. Drawing on Marx’s idea of circuit of capital, this article investigates the various ways in which the state contributes to the process of accumulation and economic growth, especially in the context of India during the period of market-oriented reforms. Additionally, this study aims to trace the changing nature of interventions of the Indian state to ascertain the domain and extent of its withdrawal and continued presence. Furthermore, it investigates the interventions undertaken by the Indian state to sustain or cushion the growth momentum at times of economic downturn during the free-market era. JEL Classification: B51, E62, O11, P16
在自由市场时代，印度的长期增长表现令人印象深刻，鉴于这一不公正的增长过程所带来的需求不足问题迫在眉睫，探讨印度国家对这一增长的贡献势在必行。本文借鉴马克思的 "资本回路"（circuit of capital）思想，探讨了国家促进积累和经济增长的各种方式，尤其是在印度市场化改革时期。此外，本研究还旨在追踪印度国家干预性质的变化，以确定其退出和继续存在的领域和程度。此外，本研究还调查了印度国家在自由市场时代经济下滑时为维持或缓冲增长势头而采取的干预措施。JEL 分类：B51, E62, O11, P16
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Pub Date : 2024-02-27DOI: 10.1177/04866134231222289
Samuel Bowles
In this personal memoir of my lifelong collaborator and friend, Herb Gintis, I reflect on his “A Radical Analysis of Welfare Economics and Individual Development.” Published in the Quarterly Journal of Economics in 1972, the article advances a novel Marx-inspired interpretation of the societal origins of preferences, one that profoundly influenced the ideas of a group of like-minded young economists at Harvard at the time, economics more broadly, and Herb and my subsequent joint work. JEL Classification: B14, B21, D01
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Pub Date : 2024-02-12DOI: 10.1177/04866134241226637
Emilia Ormaechea
Latin American neostructuralism emerged within the Economic Commission for Latin America and the Caribbean by 1990. As such, it was aimed at reviewing original Latin American structuralism and updating those contributions to the new phase of global capitalism. Notwithstanding this institutional point of view, this article argues that neostructuralism did not represent an update to Latin American structuralism but rather a differentiation from its critical and original contributions, which relies mainly on the displacement of the center-periphery concept. In the framework of the neoliberal offensive, this change toward capitalism was the result of the greater influence of theories and approaches generated in the center to problematize Latin America’s development, as well as of the requirement to depoliticize the discussion of development. JEL Classification: B2, B5, O1
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Pub Date : 2024-02-12DOI: 10.1177/04866134231224043
Mukesh Eswaran
I identify a hitherto unrecognized contribution of labor to production stemming from an innate sense of psychological ownership of the fruits of one’s labor. This is rooted in the consciousness accompanying all human activities and is distinct from legal ownership. Consciousness is inalienable; it cannot be contracted on. Labor’s psychological ownership generates quasi-rents, which can be appropriated by capitalist firms with market power. Monopsony power, now empirically seen to be ubiquitous in labor markets, has more serious efficiency and equity consequences than recognized. In a neoclassical framework, I also show why labor is uniquely vulnerable to exploitation—reconciling it with Marxian views. If capitalist owners are taken to be unaware of their workers’ psychological ownership, this exploitation occurs even in competitive labor markets. JEL Classification: P12, J22, J3, J42, D41
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Pub Date : 2024-02-12DOI: 10.1177/04866134241226637
Emilia Ormaechea
Latin American neostructuralism emerged within the Economic Commission for Latin America and the Caribbean by 1990. As such, it was aimed at reviewing original Latin American structuralism and updating those contributions to the new phase of global capitalism. Notwithstanding this institutional point of view, this article argues that neostructuralism did not represent an update to Latin American structuralism but rather a differentiation from its critical and original contributions, which relies mainly on the displacement of the center-periphery concept. In the framework of the neoliberal offensive, this change toward capitalism was the result of the greater influence of theories and approaches generated in the center to problematize Latin America’s development, as well as of the requirement to depoliticize the discussion of development. JEL Classification: B2, B5, O1
{"title":"Latin American Neostructuralism and Its Differentiation from Latin American Structuralism","authors":"Emilia Ormaechea","doi":"10.1177/04866134241226637","DOIUrl":"https://doi.org/10.1177/04866134241226637","url":null,"abstract":"Latin American neostructuralism emerged within the Economic Commission for Latin America and the Caribbean by 1990. As such, it was aimed at reviewing original Latin American structuralism and updating those contributions to the new phase of global capitalism. Notwithstanding this institutional point of view, this article argues that neostructuralism did not represent an update to Latin American structuralism but rather a differentiation from its critical and original contributions, which relies mainly on the displacement of the center-periphery concept. In the framework of the neoliberal offensive, this change toward capitalism was the result of the greater influence of theories and approaches generated in the center to problematize Latin America’s development, as well as of the requirement to depoliticize the discussion of development. JEL Classification: B2, B5, O1","PeriodicalId":502823,"journal":{"name":"Review of Radical Political Economics","volume":"12 5","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139782232","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 : 2024-02-12DOI: 10.1177/04866134231224043
Mukesh Eswaran
I identify a hitherto unrecognized contribution of labor to production stemming from an innate sense of psychological ownership of the fruits of one’s labor. This is rooted in the consciousness accompanying all human activities and is distinct from legal ownership. Consciousness is inalienable; it cannot be contracted on. Labor’s psychological ownership generates quasi-rents, which can be appropriated by capitalist firms with market power. Monopsony power, now empirically seen to be ubiquitous in labor markets, has more serious efficiency and equity consequences than recognized. In a neoclassical framework, I also show why labor is uniquely vulnerable to exploitation—reconciling it with Marxian views. If capitalist owners are taken to be unaware of their workers’ psychological ownership, this exploitation occurs even in competitive labor markets. JEL Classification: P12, J22, J3, J42, D41
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