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Revitalizing Marxist Theory for Todays Capitalism Paul Zarembka

Revitalizing Marxist Theory for Todays Capitalism

Paul Zarembka

Published December 9th 2011
ISBN : 9781283354806
ebook
300 pages
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 About the Book 

Amidst a capitalist crisis that has upturned mainstream orthodoxies, this volume underscores the importance of historical and materialist understandings of capitalist economies. Thus, fundamentally, it exposes the limitations of neoclassicalMoreAmidst a capitalist crisis that has upturned mainstream orthodoxies, this volume underscores the importance of historical and materialist understandings of capitalist economies. Thus, fundamentally, it exposes the limitations of neoclassical economics endogenous growth theory and how it, in fact, gropes for understandings well established within Marxism. It goes on to examine the relationship between the real economy and finance, and also examines how mainstream accounts of stagnation and financialization suffer from an inability to distinguish between productive and unproductive labour. A related study of the financialization of the Turkish economy dovetails this analysis. The volume also questions the current understanding of the information economy and the value of knowledge on a Marxist basis. Finally, an historical re-examination of the Great Depression in light of the current Great Recession, throws new light on modern capitalisms crisis tendencies. The volume concludes with a critique of Lenins economics, serving also to remind the reader that he is the only world leader who had deeply studied his own countrys economy before eventually becoming its leader.