Ernest Mandel theorised the capitalist world economy as an articulated system of capitalist, semi-capitalist and precapitalist relations of production, linked to each other by capitalist relations of exchange and domination by the capitalist world market. This seems to be an interesting starting point for an historically well-founded theory, building on and going beyond Marx's work, of the worldwide expansion of the capitalist mode of production from its origins to the present. In his attempt to formulate his theory, Mandel did not (...) succeed in resolving all difficulties, however. His main works – Marxist Economic Theory and Late Capitalism – show a number of dangling loose ends. The central question is whether these loose ends are merely technical difficulties or whether they reveal fatal flaws in the theory as a whole. In order to come a step closer to answering this question, a conference was organised in Amsterdam, November 2003. This introduction formulates the five, closely interrelated issues that were highlighted at this conference. (shrink)

The paper functions as a contribution to feminist analyses that are methodologically based on Rosa Luxemburg’s critique of political economy and her understanding of capital accumulation, but also as a contribution to contemporary social-reproduction theory which aims to integrate Luxemburg’s legacy alongside that of Marx. The essay offers a sketch for a ‘Luxemburgian feminism’ consisting of an overview of Luxemburg’s critique of bourgeois feminism and a preliminary application of Luxemburg’s ‘dialectics of spatiality’ to contemporary social-reproduction theory. With Luxemburg’sThe Accumulation of (...) Capitalin mind and her several essays on the so-called ‘women’s question’, we shall attempt to relate Luxemburg’s explanation of the dynamic link between capitalist and non-capitalist spatialities with the commodification of women’s reproductive labour. (shrink)

This paper seeks to answer the following question: does it still make sense today to speak of political emancipation, in particular in the sense bequeathed to us by Marx, as emancipation from capitalism? I consider three serious objections to this possibility: the objection that reference to “capitalism” is unduly essentialist in view of the multiplicity of historical situations; the anti-utopian objection according to which the programme of emancipation from capitalism lacks any precise, practical content; and the normative objection that emancipation (...) in and of itself does not specify the norms of the putative post-capitalist society. In the final section of the paper, I attempt to respond to these three objections, and seek to outline the different levels at which something like an emancipatory project, understood as a surpassing of capitalism, can still make sense today. (shrink)

This essay revisits the question of alterations in Marx’s view of method from the 1857 “Introduction” to Capital. In the wake of the belated upsurge of interest in Marx’s notebooks of 1857–8, posthumously published as the Grundrisse, a dominant interpretation has been developed in Marx scholarship which characterizes the method of the “Introduction” as an ascent from the (transhistorical) abstract to the (historical) concrete and, upon such characterization, stresses the mature Marx’s departure from it. Rereading the 1857 “Introduction” with an (...) emphasis on the theoretical import of its examples, I argue, against this interpretation, that although this text does not provide a fully worked-out account of method, it nevertheless offers invaluable insights into some of the central methodological problems with which Marx was concerned and in response to which his dialectical method was developed. In particular, I highlight what could be called Marx’s critical historicist approach to the categories and argue that this approach, together with his specific understanding of the process of the reproduction of the concrete in thought, constitute the lasting pillars of Marx’s dialectical method, in the 1857 “Introduction” as well as in Capital. Finally, in a concluding section, I re-examine the methodological status of the commodity and argue that the post-1857 emergence of the commodity as Marx’s favourite starting point does not represent a fundamental change, or a reversal, in his view of method. (shrink)

In his essay, Henryk Grossman made a powerful case for the continued relevance of Marxist economics. He argued thatCapitalis a fundamentally coherent whole, structured by Marx’s method of moving systematically from more abstract to more concrete levels of analysis. Despite considerable subsequent debate and research, Grossman’s account remains the outstanding contribution to our understanding of this aspect of Marx’s principal work.

During the late 1960s, the long post-war economic boom which had characterised the advanced capitalist countries began to fade away. In its wake came an equally long era of stagnation, decline, and political and economic turbulence. Unemployment, inflation, falling profitability, business failures and bankruptcies were the new order of the day, and it became commonplace to see fearful headlines about the possible collapse of the global financial system or even of accumulation itself.

This thesis constructs a model of the material causes of the capacity of individuals to act at work, by using the ontology of scientific realism to facilitate a synthesis between Marx and Foucault. This synthetic model is submitted as a solution to the long-standing problem of Industrial Relations theory, now manifest in the deconstruction of the organon of 'control'. The problems of 'control' are rooted in the radical concept of power and traditional, base/superstructure, interpretations of Marx. Developing an alternative to (...) the last provides the means of transcending the limitations of the first and the second. A realist, chronological-bibliographic reading of Marx provides an alternative to traditional interpretations, by creating a novel concept of his object, his initial explicandum and his putative explicans. This reading identifies a fresh problem with his model of capital: it cannot explain how labour is organized into a productive power and subsumed to capital. Foucault provides the means of resolving these deficiencies of Marx's explicans. A realist interpretation turns Marx and Foucault around to face each other, renders them compatible and establishes points of contact between their work. Together they constitute a model of the operative logic of production relations capable of explaining the organization of labour, its subsumption to capital and the materialism of civil society and the idealism of the state. On this basis, the contemporary form of the problem of Industrial Relations theory is explained. (shrink)

This article assess two important recent books on Marx's political economy and argues that, despite many virtues, there are some crucial limitations in their approach to Marx's political economy. Ben Fine's and Alfredo Saad-Filho's Marx's 'Capital' and The Value of Marx by Saad-Filho place too much explanatory weight on the composition of capital, giving too little attention to Marx's analysis of money, and to the processes of circulation and realisation.

The introduction of the concept of capital inCapital– with the words ‘we find’ – has provoked a great deal of discussion about the precise relation between the categories of simple circulation and the concept of capital. In this article, I argue that Marx derives the concept of capital by way of an analysis of the immanent contradictions of money, and that this dialectical derivation can be understood as a conceptual movement in which the concepts of money and capital progressively change (...) their modal status. Furthermore, I examine the development of this transition to capital throughout Marx’s writings from the period 1857 to 1872, arguing that the same arguments can be found in all the relevant writings. Finally, the article provides a critical review of the literature on the transition to capital. (shrink)

This essay revisits Adorno’s relation to Marx through a reading of his recently translated seminar on Marx (1962) within the broader context of the two thinkers’ views on the dialectic. While Adorno’s critical comments in the seminar seem to be applicable to some of Marx’s bold assertions about Hegel’s dialectic, taken in isolation, they fail to challenge Marx’s more rigorous analysis of the dialectic, as presented in his introduction to the Grundrisse. Nevertheless, read alongside Adorno’s mature critique of identity, the (...) text of the seminar could be interpreted as pointing to a much more serious criticism of Marx, that is, the criticism of the primacy of economy that animates Marx’s dialectic from within. The essay is concluded with a warning against reducing Adorno’s position on Marx to his criticism of the primacy of economy, followed by a brief reference to the fundamentally transitory character of critical theory. (shrink)

The Marxist theory of crisis has fallen on hard times. Marx's ‘law of the tendency of the rate of profit to fall’, generally seen, at least in recent times, as the basis of the theory, is now widely rejected by economists who regard themselves as broadly working in his tradition. This state of affairs is in large part a consequence on the larger assault on mounted on the theoretical structure of Capital by self-proclaimed supporters of Piero Sraffa during the 1970s. (...) Analytical Marxism, during its brief efflorescence in the 1980s, took for granted the validity of the Sraffian critique. One of this school's more vulgar advocates published an ‘obituary’ of the TRPF which dismissed Marxists' attachment to the theory as a result of the influence of ‘“extra-scientific” considerations’ on them. The editors of a dictionary of Marxian economics expressed the hope not long ago that the resolution of the debate provoked by the Sraffian critique would be to ‘release Marxian ideas on crises, growth, imperialism, the social and economic evolution of forms of production, and so on, into the mainstream of economics’. (shrink)