Search results
Results from the WOW.Com Content Network
Fictitious capital (German: fiktives Kapital) is a concept used by Karl Marx in his critique of political economy. It is introduced in chapter 25 of the third volume of Capital . [ 1 ] Fictitious capital contrasts with what Marx calls "real capital", which is capital actually invested in physical means of production and workers, and "money ...
Balomenos, Christos [2024] Did Engels’ editing of Capital, Volume 3 distort Marx's analysis of the ‘tendency of the rate of profit to fall’? in Capital & Class 1–21 2024; Bell, Peter and Cleaver, Harry [1982] Marx's Theory of Crisis as a Theory of Class Struggle first published in 'Research in Political Economy', Vol 5(5): 189–261, 1982
Overaccumulation is one of the potential causes of the crisis of capital accumulation.In crisis theory, a crisis of capital occurs due to what Karl Marx refers to as the internal contradictions inherent in the capitalist system which result in the reconfiguration of production.
He criticizes the economists for constructing an abstract, fictitious state of nature, similar to how theology explains the origin of evil through the fall of man, instead of understanding the historical and necessary development of economic factors. [27] Marx further develops the idea of alienation, arguing that a worker is alienated in four ways:
Capital is a central concept in Marxian critique of political economy, ... Marx stated that "Capital is dead labour, that, ... Fictitious capital – Marxist Doctrine;
Elliot Goodell Ugalde, in 2024, [5] extends this analysis through Marxian economics by emphasizing that the significant divergence between market price and exchange value, as seen in housing and other forms of fixed capital, is a hallmark indicator of fictitious capital. This distortion not only inflates asset values beyond their productive ...
Karl Marx’s Crises Theories: Labor, Scarcity and Fictitious Capital (1987) Keynes, Investment Theory and the Economic Slowdown: The Role of Replacement Investment and q-Ratios (1989) Information, Social Relations, and the Economics of High Technology (1991) The Pathology of the U.S. Economy: The Costs of a Low Wage System (1993)
Marxist scholar David Harvey explains Marx's primitive accumulation as a process which principally "entailed taking land, say, enclosing it, and expelling a resident population to create a landless proletariat, and then releasing the land into the privatized mainstream of capital accumulation". [5] Marx viewed the colonization of the Americas ...