{"title":"Labor Intensification and Value Production: A Rejoinder","authors":"D. Basu, C. Haas, Thanos Moraitis","doi":"10.1177/04866134241259073","DOIUrl":"https://doi.org/10.1177/04866134241259073","url":null,"abstract":"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","PeriodicalId":502823,"journal":{"name":"Review of Radical Political Economics","volume":"59 16","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-06-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141345768","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}
{"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}
{"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}
Bruno Höfig, Leonardo Paes Müller, Iderley Colombini
{"title":"The Tendency of the Non-Bank Financial Sector to Rise: A Materialist Account of the Growth of Market-Based Finance","authors":"Bruno Höfig, Leonardo Paes Müller, Iderley Colombini","doi":"10.1177/04866134241239694","DOIUrl":"https://doi.org/10.1177/04866134241239694","url":null,"abstract":"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","PeriodicalId":502823,"journal":{"name":"Review of Radical Political Economics","volume":" 33","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-04-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140687297","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}
{"title":"India’s Economic Growth since the 1980s and the Role of the State: An Alternative Perspective","authors":"Saswata Guha Thakurata","doi":"10.1177/04866134241232492","DOIUrl":"https://doi.org/10.1177/04866134241232492","url":null,"abstract":"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","PeriodicalId":502823,"journal":{"name":"Review of Radical Political Economics","volume":"4 6","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-03-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140372039","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}
{"title":"Herbert Gintis and the Societal Origins of Preferences: A Personal Memoir","authors":"Samuel Bowles","doi":"10.1177/04866134231222289","DOIUrl":"https://doi.org/10.1177/04866134231222289","url":null,"abstract":"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","PeriodicalId":502823,"journal":{"name":"Review of Radical Political Economics","volume":"36 4","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140425603","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}
{"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":"69 2","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139842058","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}
{"title":"The Nature of Labor’s Vulnerability to Exploitation","authors":"Mukesh Eswaran","doi":"10.1177/04866134231224043","DOIUrl":"https://doi.org/10.1177/04866134231224043","url":null,"abstract":"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","PeriodicalId":502823,"journal":{"name":"Review of Radical Political Economics","volume":"75 3","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139843877","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}
{"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}
{"title":"The Nature of Labor’s Vulnerability to Exploitation","authors":"Mukesh Eswaran","doi":"10.1177/04866134231224043","DOIUrl":"https://doi.org/10.1177/04866134231224043","url":null,"abstract":"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","PeriodicalId":502823,"journal":{"name":"Review of Radical Political Economics","volume":"46 6","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139784017","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}