Over the last twenty-five years, Stephen Resnick and Richard Wolff have developed a groundbreaking interpretation of Marxian theory generally and of Marxianeconomics in particular. This book brings together their key contributions and underscores their different interpretations. In facing and trying to resolve contradictions and lapses within Marxism, the authors have confronted the basic incompatibilities among the dominant modern versions of Marxian theory, and the fact that Marxism seemed cut off from the criticisms of determinist modes (...) of thought offered by post-structuralism and post-modernism and even by some of Marxisms greatest theorists. (shrink)
This paper evaluates the contribution of Marxian approaches to the evolution of development economics and the reasons for their current state of impasse, and suggests some areas in which this work may still be capable of providing useful contributions. Development economics was one of the few economics sub?disciplines where Marxian approaches were considered to offer a key perspective and had a wider influence on more mainstream analysis. We explore how, during the 1970s and 1980s, (...) class='Hi'>Marxian analysis was published alongside other perspectives in development journals, producing theoretical and empirical work analysing the conditions under which capitalism in developing economies would continue to play a developmental role. We then consider the critical engagement with dependency theory that denied the possibility of independent capitalist development, as well as with more orthodox perspectives. The conclusion of leading proponents of Marxian development by the mid?1980s, that such work had reached an impasse with no clear evidence of either theoretical or empirical progress, is then assessed. JEL Classifications: B51, O10, P10. (shrink)
Machine generated contents note: Dialectic of Praxis -- I. Philosophy of Subjectivity and -- Historical Materialism 7 -- A. What is the "Toposical Tachiba"? 7 -- B. The Present and Past of Umemoto's Theory of Subjectivity 17 -- C. The Basis and Structure of Degeneration 36 -- II. Confused 'Dialectic of the Subject of Cognition' 48 -- A. Destruction of the Logic of Origo 48 -- 1. Summary of Umemoto's Epistemology 49 -- 2. Umemoto's Defect in Epistemology 56 -- 3. (...) Reversed Hegelianism 60 -- B. Objective Cognition and the Logic of Self-Awareness 68 -- 1. Ontology and Epistemology 68 -- 2. Negation of "Two Circular Structures" 76 -- 3. Objective Cognition and Value Consciousness 82 -- C. Evaporation of Praxiology 89 -- 1. Alienation and Self-Awareness 89 -- 2. Objectivization of Praxis 96 -- 3. Strained Interpretation of Uno's Theory 99 -- 4. Political Economy, Materialist Outlook of History, -- and Praxiology 107 -- 5. A Domain Proper to the Theory of -- Revolutionizing Praxis 116 -- III. Defects in Criticism of Uno's Economics 131 -- A. Problem Awareness 132 -- B. Fall into a "View that the Principles are Lost -- in the Historical Process" 137 -- C. Historicistic Remedy for the Theory of the -- Circulation Form 155 -- 1. Beautification of a Distorting Tendency to -- Emphasize the Circulation Form 156 -- 2. Complementation of the 'Theory of Form -- without the Logic of Substance' 169 -- 3. On the Trans-Historicization of the -- 'Dual Character of Labour' 178 -- IV. Political Economy and -- Materialist Outlook of History 195 -- A. 'Anatomy of Bourgeois Society' and -- 'Anatomy of History' 195 -- B. Consolidation with Reversed Hegelianism 202 -- C. 'Logic of Circularity' and 'Logic of History' 218 -- V, Political Economy and the -- Logic of Revolutionization 231 -- A. Defects in the Understanding of Political Economy 232 -- B. Distortion of 'Labour-Power Commodity' 255 -- 1. On the Dialectic: Commodity Market and the -- Production Process 255 -- 2. Private Property and Capitalist Property 261 -- 3. Negation of the Negation: Sublation of the -- Commoditization of Labour-Power 268 -- C. Capitalist Thingivation and the -- Logic of its Revolutionization 282 -- Afterword 301 -- Supplementary Notes to the English Edition 303 -- Index 309. (shrink)
Samir Amin depicts a world in which NATO has taken over the role of the United Nations, in which US hegemony is more or less complete, in which millions are condemned to die in order to preserve the social order of the US, Europe and Japan. Amin's analyses of the Gulf War, the wars in former Yugoslavia and the war in Central Asia reveal the scope of US strategic aims. He argues that the political and military dimension of US dominance (...) is as significant as US economic preponderance in determining the future of capitalist development. (shrink)
The complementary deaths of the thinking subject and of the citizen subject -- Producing a Marxist concept of liberation -- Postpolitical politics and global capitalism -- The exacerbation of uneven development : analysis of the current -- The possibility of a new state I : delinking -- Models of liberation I : the politics of identity -- Models of liberation II : the politics of subjectivity -- Models of liberation III : the politics of the event -- Models of liberation (...) IV : the religious transcendent -- Models of liberation V : nomad politics -- The possibility of a new state II : Heterotopia -- Prospects for the new political subject and liberation. (shrink)
Prólogo del Che al proyecto de libro sobre economía política -- Teoría general de la transición socialista -- Cuba : de la liberación nacional a la construcción del socialismo -- Transición extraordinaria del capitalismo al socialismo en Cuba.
In launching modern economics, Adam Smith paved the way for laissez-faire capitalism, Marxism, and contemporary social science. This book scrutinizes Smith's disparagement of politics and religion to illuminate the subtlety of his rhetoric, the depth of his thought, and the ultimate shortcomings of his project. The author analyzes Smith's ideas on government, justice, human psychology, and international relations, stressing Smith's efforts to elevate wealth at the expense of citizenship and to replace normative political philosophy with historical theorizing and empirical (...) modeling that emphasize economic causes. The book also provides the most comprehensive interpretation available of Smith's views on religion, examining the discrepancies between The Wealth of Nations and The Theory of Moral Sentiments. The concluding chapter appraises the demise of communism in light of the Marxian emancipation of economics from politics and religion. (shrink)
Hermeneutics has become a major topic of debate throughout the scholarly community. What has been called the "interpretive turn" has led to interesting new approaches in both the human and social sciences, and has helped to transform divided disciplines by bringing them closer together. Yet one of the largest and most important social sciences economics has so far been almost completely left out of the transformation. Economics and Hermeneutics takes a significant step towards filling this gap by introducing (...) scholars on both sides of the divide to ways that hermeneutics might help economists address some of their most important problems. Among the topics addressed are entrepreneurship, price theory, rational expectations, monetary theory, welfare economics, and economic policy. The approaches to economics represented include the Austrian school, McCloskey's "rhetoric" approach, Marxian critical theory and institutionalism. (shrink)
The paper discusses the sense in which the changes undergone by normative economics in the twentieth century can be said to be progressive. A simple criterion is proposed to decide whether a sequence of normative theories is progressive. This criterion is put to use on the historical transition from the new welfare economics to social choice theory. The paper reconstructs this classic case, and eventually concludes that the latter theory was progressive compared with the former. It also briefly (...) comments on the recent developments in normative economics and their connection with the previous two stages. (Published Online April 18 2006) Footnotes1 This paper suspersedes an earlier one entitled “Is There Progress in Normative Economics?” (Mongin 2002). I thank the organizers of the Fourth ESHET Conference (Graz 2000) for the opportunity they gave me to lecture on this topic. Thanks are also due to J. Alexander, K. Arrow, A. Bird, R. Bradley, M. Dascal, W. Gaertner, N. Gravel, D. Hausman, B. Hill, C. Howson, N. McClennen, A. Trannoy, J. Weymark, J. Worrall, two annonymous referees of this journal, and especially the editor M. Fleurbaey, for helpful comments. The editor's suggestions contributed to determine the final orientation of the paper. The author is grateful to the LSE and the Lachmann Foundation for their support at the time when he was writing the initial version. (shrink)
To understand the human capacity for psychological altruism, one requires a proper understanding of how people actually think and feel. This paper addresses the possible relevance of recent findings in experimental economics and neuroeconomics to the philosophical controversy over altruism and egoism. After briefly sketching and contextualizing the controversy, we survey and discuss the results of various studies on behaviourally altruistic helping and punishing behaviour, which provide stimulating clues for the debate over psychological altruism. On closer analysis, these studies (...) prove less relevant than originally expected because the data obtained admit competing interpretations – such as people seeking fairness versus people seeking revenge. However, this mitigated conclusion does not preclude the possibility of more fruitful research in the area in the future. Throughout our analysis, we provide hints for the direction of future research on the question. (shrink)
This book presents fifteen essays, written over the past dozen years, on egalitarianism. The essays explore contemporary philosophical debates on this subject, using the tools of modern economic theory, general equilibrium theory, game theory, and the theory of mechanism design. Egalitarian Perspectives is divided into four parts: the theory of exploitation; equality of resources; bargaining theory and distributive justice; and market socialism and public ownership. The first part presents Roemer's influential reconceptualisation of the Marxian theory of exploitation as a (...) theory of distributive justice. The second part offers a critique of Ronald Dworkin's equality-of-resources theory, and puts forward a new egalitarian proposal based upon a specific method of measuring individual responsibility. The third part introduces a novel application of the theory of mechanism design to the study of political philosophy, and raises new concerns about the limitations of that application. The fourth part presents the author's views on market socialism and public ownership, and demonstrates that Professor Roemer is at the forefront of refining new theories and conceptions of market socialism. (shrink)
David Tyfield’s two-volume The Economics of Science is an ambitious and valuable attempt to explain recent developments in economics of science using a critical realist/Marxian framework, and at the same time to unite critical realism with science and technology studies.
The paper analyses economic evaluations by distinguishing evaluative statements from actual value judgments. From this basis, it compares four solutions to the value neutrality problem in economics. After rebutting the strong theses about neutrality (normative economics is illegitimate) and non-neutrality (the social sciences are value-impregnated), the paper settles the case between the weak neutrality thesis (common in welfare economics) and a novel, weak non-neutrality thesis that extends the realm of normative economics more widely than the other (...) weak thesis does. (shrink)
This is a comprehensive anthology of works concerning the nature of economics as a science, including classic texts and essays exploring specific branches and schools of economics. Apart from the classics, most of the selections in the third edition are new, as are the introduction and bibliography. No other anthology spans the whole field and offers a comprehensive introduction to questions about economic methodology.
The principal findings of experimental economics are that impersonal exchange in markets converges in repeated interaction to the equilibrium states implied by economic theory, under information conditions far weaker than specified in the theory. In personal, social, and economic exchange, as studied in two-person games, cooperation exceeds the prediction of traditional game theory. This book relates these two findings to field studies and applications and integrates them with the main themes of the Scottish Enlightenment and with the thoughts of (...) F. A. Hayek. (shrink)
There is an increasingly widespread belief, both within and outside the discipline, that modern economics is irrelevant to the understanding of the real world. Economics and Reality traces this irrelevance to the failure of economists to match their methods with their subject, showing that formal, mathematical models are unsuitable to the social realities economists purport to address. Tony Lawson examines the various ways in which mainstream economics is rooted in positivist philosophy and examines the problems this causes. (...) It focuses on human agency, social structure and their interaction and explores how the understanding of this social phenomena can be used to transform the nature of economic practice. Economics and Reality concludes by showing how this newly transformed economics might set about shaping economic policy. (shrink)
Welfare biology is the study of living things and their environment with respect to their welfare (defined as net happiness, or enjoyment minus suffering). Despite difficulties of ascertaining and measuring welfare and relevancy to normative issues, welfare biology is a positive science. Evolutionary economics and population dynamics are used to help answer basic questions in welfare biology: Which species are affective sentients capable of welfare? Do they enjoy positive or negative welfare? Can their welfare be dramatically increased? Under plausible (...) axioms, all conscious species are plastic and all plastic species are conscious (and, with a stronger axiom, capable of welfare). More complex niches favour the evolution of more rational species. Evolutionary economics also supports the common-sense view that individual sentients failing to survive to mate suffer negative welfare. A kind of God-made (or evolution-created) fairness between species is also unexpectedly found. The contrast between growth maximization (as may be favoured by natural selection), average welfare, and total welfare maximization is discussed. It is shown that welfare could be increased without even sacrificing numbers (at equilibrium). Since the long-term reduction in animal suffering depends on scientific advances, strict restrictions on animal experimentation may be counter-productive to animal welfare. (shrink)
Economics today cannot predict the likely outcome of specific events any better than it could in the time of Adam Smith. This is Alexander Rosenberg's controversial challenge to the scientific status of economics. Rosenberg explains that the defining characteristic of any science is predictive improvability--the capacity to create more precise forecasts by evaluating the success of earlier predictions--and he forcefully argues that because economics has not been able to increase its predictive power for over two centuries, it (...) is not a science. (shrink)
This article provides an ISCT analysis of commercial bribery focused on transaction cost economics. In the language of Antitrust, commercial bribery is a form of vertical arrangement subject to the same efficiency analysis that has found other vertical arrangements potentially beneficial to consumers. My analysis shows that actions condemned as commerical bribery in the Honda case (1996) may well have benefited Honda's dealer network once promotional free riding and other forms of rent seeking by dealers are considered. I propose (...) that the term "commercial bribery" should be avoided until after an ISCT analysis shows that the community is likely to have been harmed. The term "third-party payments" is a more ethically neutral term with which to begin the analysis. (shrink)
This essay discusses the origins, biases, and effects on contemporary discussions of economics and ethics of the unexamined use of the metaphor an economy is a machine. Both neoliberal economics and many critiques of capitalist systems take this metaphor as their starting point. The belief that economies run according to universal laws of motion, however, is shown to be based on a variety of rationalist thinking that – while widely held – is inadequate for explaining lived human experience. (...) Feminist scholarship in the philosophy of science and economics has brought to light some of the biases that have supported the mechanistic worldview. Possible alternatives to the an economy is a machine include an economy is a creative process and an economy is an organism. Such metaphors are intellectually defensible as guides to scientific inquiry and provide a richer ground for moral imagination. (shrink)
The Oxford Handbook of Philosophy of Economics is a cutting-edge reference work to philosophical issues in the practice of economics. It is motivated by the view that there is more to economics than general equilibrium theory, and that the philosophy of economics should reflect the diversity of activities and topics that currently occupy economists. Contributions in the Handbook are thus closely tied to ongoing theoretical and empirical concerns in economics. Contributors include both philosophers of science (...) and economists. Chapters fall into three general categories: received views in philosophy of economics, ongoing controversies in microeconomics, and issues in modeling, macroeconomics, and development. Specific topics include methodology, game theory, experimental economics, behavioral economics, neuroeconomics, computational economics, data mining, interpersonal comparisons of utility, measurement of welfare and well being, growth theory and development, and microfoundations of macroeconomics. The Oxford Handbook of Philosophy of Economics is a groundbreaking reference like no other in its field. It is a central resource for those wishing to learn about the philosophy of economics, and for those who actively engage in the discipline, from advanced undergraduates to professional philosophers, economists, and historians. (shrink)
Many economic problems are also ethical problems: should we value economic equality? how much should we care about preserving the environment? how should medical resources be divided between saving life and enhancing life? This book examines some of the practical issues that lie between economics and ethics, and shows how utility theory can contribute to ethics. John Broome's work has, unusually, combined sophisticated economic and philosophical expertise, and Ethics Out of Economics brings together some of his most important (...) essays, augmented with a new introduction. The first group of essays deals with the relation between preference and value, the second with various questions about the formal structure of good, and the concluding section with the value of life. This work is of interest and importance for both economists and philosophers, and shows powerfully how economic methods can contribute to moral philosophy. (shrink)