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For Robinson, the Orthodox view of short-term employment is based on the idea that the productivity of capital stock determines the rate of profit (63). [1] Yet as Keynes points out, this idea that guaranteed investment leads to sustained increase in profits rests on the assumption that an economy has full employment (65). [1]
Rentier capitalism is a concept in Marxist and heterodox economics to refer to rent-seeking and exploitation by companies in capitalist systems. [1] [2] [3] The term was developed by Austrian social geographer Hans Bobek [4] describing an economic system that was widespread in antiquity and still widespread in the Middle East, where productive investments are largely lacking and the highest ...
The Theory of Capitalist Development is a 1942 book by the Marxian economist Paul Sweezy, in which the author expounds and defends the labor theory of value. [1] It has received praise as an important work, but Sweezy has also been criticized for misrepresenting Karl Marx 's economic theories.
With Robert Brenner, Ellen Meiksins Wood articulated the foundations of political Marxism, a strand of Marxist theory that places history at the centre of its analysis. [3] It provoked a turn away from structuralisms and teleology towards historical specificity as contested process and lived praxis .
A conflict between the development of material productive forces and the relations of production causes social revolutions and the resulting change in the economic basis will sooner or later lead to the transformation of the superstructure. [10] For Marx, this relationship is not a one way process—it is reflexive and the base determines the ...
Differential ground rent and absolute ground rent are concepts used by Karl Marx [1] in the third volume of Das Kapital [2] to explain how the capitalist mode of production would operate in agricultural production, [3] under the condition where most agricultural land was owned by a social class of land-owners [4] who could obtain rent income from farm production. [5]
Uneven and combined development, unequal and combined development, or uneven development is a concept in Marxian political economy [1] intended to describe dynamics of human history involving the interaction of capitalist laws of motion and starting world market conditions whose national units are highly heterogeneous.
As part of the Neue Marx-Lektüre, the book rejects "worldview Marxism" (German: Weltanschauungsmarxismus), which Heinrich characterises as a reading of Marx marked by its oversimplification of social phenomena as the result of purely economic interests, its historical determinism, and view of Marx's theories as "all-encompassing". [10] [12] In ...