A systematic comparison of the 3 major economic theories — neoclassical, Keynesian, and Marxian—showing how they differ and why these differences matter in shaping economic theory and practice. Contending Economic Theories offers a unique comparative treatment of the three main theories in economics as it is taught today: neoclassical, Keynesian, and Marxian. Each is developed and discussed in its own chapter, yet also differentiated from and compared to the other two theories. The authors identify each theory's starting point, its goals and foci, and its internal logic. They connect their comparative theory analysis to the larger policy issues that divide the rival camps of theorists around such central issues as the role government should play in the economy and the class structure of production, stressing the different analytical, policy, and social decisions that flow from each theory's conceptualization of economics. Building on their earlier book Economics: Marxian versus Neoclassical , the authors offer an expanded treatment of Keynesian economics and a comprehensive introduction to Marxian economics, including its class analysis of society. Beyond providing a systematic explanation of the logic and structure of standard neoclassical theory, they analyze recent extensions and developments of that theory around such topics as market imperfections, information economics, new theories of equilibrium, and behavioral economics, considering whether these advances represent new paradigms or merely adjustments to the standard theory. They also explain why economic reasoning has varied among these three approaches throughout the twentieth century, and why this variation continues today—as neoclassical views give way to new Keynesian approaches in the wake of the economic collapse of 2008.

"The ideas of capitalism's most vigorous and eloquent enemy have been enlightening in every era, the author contends, and our current historical situation of free-market extremes suggests that reading Marx may be more important now than ever. Hobsbawm begins with a consideration of how we should think about Marxism in the post-communist era, observing that the features we most associate with Soviet and related regimes--command economies, intrusive bureaucratic structures, and an economic and political condition of permanent was--are neither derived from Marx's ideas nor unique to socialist states. Further chapters discuss pre-Marxian socialists and Marx's radical break with them, Marx's political milieu, and the influence of his writings on the anti-fascist decades, the Cold War, and the post--Cold War period. Sweeping, provocative, and full of brilliant insights, How to Change the World challenges us to reconsider Marx and reassess his significance in the history of ideas."--Publisher's website.

Wolff and Resnick provide a unique, balanced explication of the differing assumptions, logical structures, and arguments of neoclassical and Marxian economics. They address broader aspects of evaluating or choosing between alternative theories, but their conclusions are nonpolemical. Throughout, math is used simply and sparingly.

Over the last twenty-five years, Stephen Resnick and Richard Wolff have developed a groundbreaking interpretation of Marxian theory generally and of Marxian economics 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 Marxism's greatest theorists.

Moishe Postone undertakes a fundamental reinterpretation of Karl Marx's mature critical theory. He calls into question many of the presuppositions of traditional Marxist analyses and offers new interpretations of Marx's central arguments. He does so by developing concepts aimed at grasping the essential character and historical development of modern society, and also at overcoming the familiar dichotomies of structure and action, meaning and material life. These concepts lead him to an original analysis of the nature and problems of capitalism and provide the basis for a critique of 'actually existing socialism'. According to this new interpretation, Marx identifies the core of the capitalist system with an impersonal form of social domination generated by labor and the industrial production process are characterized as expressions of domination generated by labor itself and not simply with market mechanisms and private property. Proletarian labor and the industrial production process are characterized as expressions of domination rather than as means of human emancipation. This reinterpretation entails the form of economic growth and the structure of social labor in modern society to the alienation and domination at the heart of capitalism. This reformulation, Postone argues, provides the foundation for a critical social theory that is more adequate to late twentieth-century capitalism.

The essays in this volume, by veteran economists as well as younger scholars, are part of a radical attempt to grapple with the problems of advanced capitalist development without discarding the real theoretical breakthroughs made by Keynes. The contributors argue that Keynes was correct in pointing to the economic contradictions stemming from unemployment, income inequality, and speculative finance, but failed to consider the class composition of social output, the macroeconomic effects of the modern firm, and the atrophy of investment under conditions of capitalist maturity. They thus seek to uncover the sources of stagnation under monopoly capitalism by building on the work of three of the great economists of modern times: Marx, Keynes, and Kalecki.

Re/presenting Class is a collection of essays that develops a poststructuralist Marxian conception of class in order to theorize the complex contemporary economic terrain. Both building upon and reconsidering a tradition that Stephen Resnick and Richard Wolff—two of this volume’s editors—began in the late 1980s with their groundbreaking work Knowledge and Class, contributors aim to correct previous research that has largely failed to place class as a central theme in economic analysis. Suggesting the possibility of a new politics of the economy, the collection as a whole focuses on the diversity and contingency of economic relations and processes. Investigating a wide range of cases, the essays illuminate, for instance, the organizational and cultural means by which unmeasured surpluses—labor that occurs outside the formal workplace‚ such as domestic work—are distributed and put to use. Editors Resnick and Wolff, along with J. K. Gibson-Graham, bring theoretical essays together with those that apply their vision to topics ranging from the Iranian Revolution to sharecropping in the Mississippi Delta to the struggle over the ownership of teaching materials at a liberal arts college. Rather than understanding class as an element of an overarching capitalist social structure, the contributors—from radical and cultural economists to social scientists—define class in terms of diverse and ongoing processes of producing, appropriating, and distributing surplus labor and view class identities as multiple, changing, and interacting with other aspects of identity in contingent and unpredictable ways. Re/presenting Class will appeal primarily to scholars of Marxism and political economy. Contributors. Carole Biewener, Anjan Chakrabarti, Stephen Cullenberg, Fred Curtis, Satyananda Gabriel, J. K. Gibson-Graham, Serap Kayatekin, Bruce Norton, Phillip O’Neill, Stephen Resnick, David Ruccio, Dean Saitta, Andriana Vlachou, Richard Wolff

Marxism has long been accused of economic determinism, reductionism and a silence on human experience. Beyond Capital argues that these problems can be traced back to Marx's failure to write his planned book on Wage-Labor. Added to the subsequent ignorance of Marx's method, the result has been a one-sided presentation of Marxism. By considering workers and their needs, Beyond Capital demonstrates the one-sidedness of such concepts as the value of labor-power and the theoretical inferences drawn from Capital. However, rather than rejecting Marx, Beyond Capital argues that his "political economy of the working class" and the process of struggle are central for going beyond capitalism.

Cover -- Title Page -- Copyright -- Dedication -- Contents -- Foreword Tony Kennedy -- Henryk Grossmann and the Theory of Capitalist Collapse Tony Kennedy -- Introduction by Henryk Grossmann -- 1 The Downfall of Capitalism in the Existing Literature -- The point at issue -- The conception of breakdown in the existing literature -- How Kautsky finally abandoned Marx's theory of accumulation and of breakdown -- Notes -- 2 The Law of Capitalist Breakdown -- Is there a theory of breakdown in Marx? -- Preliminary methodological remarks -- The equilibrium theory of the neo-harmonists -- The conditions and tasks of schematic analysis -- Why was classical economy alarmed by the fall in the rate of profit despite an expanding mass of profit? -- The views of classical economists on the future of capitalism (D Ricardo and J S Mill) -- The Marxist theory of accumulation and breakdown -- Marx's theory of breakdown is also a theory of crises -- An anti-critical interlude -- The logical and mathematical basis of the law of breakdown -- Why the Marxist theory of accumulation and breakdown was misunderstood -- The factors of the breakdown and the business cycle -- Crises and the theory of underconsumption -- The elasticity of accumulation -- The restricted development of productive forces under capitalism -- The Marxist theory of imperfect valorisation -- Notes -- 3 Modifying Countertendencies -- Introduction -- Part 1: Countertendencies Internal to the Mechanism of Capital -- Increases in the rate of profit through the expansion of productivity -- Reducing the costs of variable capital through increases in productivity -- Shortening the turnover time and its impact on the rate of surplus value -- The additional money capital required for an expanded scale of production -- The conflict between use value and exchange value

"Michael A. Lebowitz deepens the arguments he made in his "Beyond Capital." Whereas Karl Marx, in "Capital," treated capitalism as an organic system that reproduces its premises of capital and wage-labor, Lebowitz argues that the solidarity of workers in struggle points toward an organic system of community, an alternative system that produces its own premises, communality, and recognition of the needs of others. "Between Capitalism and Community" demonstrates the analysis that capitalism contains within itself elements of a different society, one of community"--

We live in and from nature, but the way we have evolved of doing this is about to destroy us. capitalism and its by-products–imperialism, war, neoliberal globalization, racism, poverty and the destruction of community–are all playing a part in the destruction of our ecosystem. only now are we beginning to realize the depth of the crisis and the kind of transformation that will have to occur to ensure our survival. This second, thoroughly updated, edition of The Enemy of Nature speaks to this new environmental awareness. By suggesting a radical new way forward, a new kind of “ecosocialism,” Joel Kovel offers real hope and vision for a more sustainable future.

Only a renewed historical materialism can accomplish the task. Meiksins Wood redefines the tradition's basic concepts and theory of history to identify the specificity of capitalism as a system of social relations and political power. This, she argues, is inimical to democracy-a concept she interrogates in both its ancient and modern forms, before asking how it can overcome its present limits.

In this revised and expanded edition of Long Waves of Capitalist Development , Ernest Mandel seeks to explain the underlying determinants of the booms and slumps of the trade cycle. Mandel first establishes that there have indeed been twenty- to twenty-five-year-long waves of capitalist expansion and contraction—and that these have persisted in the period since World War II. He then assembles evidence to show that while broad tendencies in the rate of profit have been decisive in triggering downturns, the ingredients necessary for a new upswing are, by contrast, generally political and extra-economic in character. He thereby demonstrates the falsity of neo-liberal doctrines, according to which the free market will itself generate a new formula for balanced and sustainable expansion. Long Waves of Capitalist Development not only offers a penetrating analysis of the ills that have afflicted contemporary capitalist economies but also surveys, and takes forward, one of the classical debates of modern economic history.

In addition to producing much other literature, Marxist economist Perlo (1912-99) wrote more than 3,000 People vs. Profits columns over 39 years for the Communist Party paper People's Weekly World . Survivors and colleagues reprint a selection based on their portrayal of conditions at the time. Presumably a second volume will consider foreign matters. Annotation (c) Book News, Inc., Portland, OR (booknews.com)