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Economic Theory of Capitalism and Its Crises Vol: 17

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28 Apr 1999
Emerald Group Publishing Limited
264 pages - 156 x 234 x 15mm
Research in Political Economy


This work provides articles advancing the theoretical understanding of modern capitalism, including comparing post-Keynesian and Marxian conceptions of the endogenity of money, periodizing stages of capitalism, and understanding what "growth" means precisely beyond its common representations around gross domestic product. The economic theory of crises in capitalism is also explored theoretically and applied to the cases of Australia, France and Sweden in different time periods. The volume concludes with a symposium on applying cost theory to understanding the direction of the rate of profit in capitalism, starting from the well-known work of the Japanese economist Okishio.
List of contributors. Part I. Money, Regulation of Capitalism, and "Growth". The endogeneity of money: post-Keynesian and Marxian concepts compared (M. de Lourdes, R. Mollo). Periodizing capitalism: problems and method -the case of the regulation approach (S.D. Mavroudeas). Addressing the dogma of "growth" (J. Rosenthal). Part II. Economic Crises. Reformers and investors: crisis and confidence during the depression (S.G. Snow). Marxist theories of economic crisis and the Australian evidence (J.R. Doughney). Part III. Symposium on Okishio and his Critics. Okishio and his critics: historical cost versus replacement cost (D. Laibman). Response to David Laibman (D.K. Foley). Sell dear, buy cheap? A reply to Laibman (A. Kliman). Between two world systems: a response to David Laibman (A. Freeman). The profit rate and reproduction of capital: a rejoinder (D. Laibman).

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