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Sources of Instability in the U.S. Political Economy and Empire

“Sources of Instability in the U.S. Political Economy and Empire,” [PDF] Science & Society, vol. XLIX, no. 2 (Summer 1985), pp. 167-193. In Discussing the sources of instability in the U.S. social order, it is useful to focus successively on the economic, political-cultural and imperial aspects of the problem, corresponding to the three levels of economy, […]

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Monopoly Capital Theory and Stagflation: A Comment

In my view, David Kotz’s article, ‘Monopoly. Inflation and Economic Crisis” (Kotz 1982), provides a clear and, for the most part, internally consistent explanation of the inflationary features of monpolistic pricing in the context of long-term economic stagnation, and deserves to be recognized as a notable addition to Marxian analysis. But his claim of having […]

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Theories of Capitalist Transformation

John E. Elliott’s [1980] article on some of the parallels between the visions of capitalist transformation to be found in Marx and Schumpeter is extremely insofar as it requires a serious reexamination of the schumpeterian system. Elliott’s argument, however, is somewhat misleading, since it overemphasizes the points at which their theories overlap, while largely neglecting […]

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Marxian Economics and the State

How can we account for the somewhat paradoxical fact that certain socialist models of the capitalist economy are often thought to be prone to political degeneration? In essence, there are four divisions among Marxist on the subject of crisis: (1) the falling rate of profit school, (2) disproportionality theory, (3) underconsumptionism, and (4) profit squeeze […]

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Is Monopoly Capitalism An Illusion?

The theory of capitalism’s monopoly stage has had such a long and distinguished history that one could be excused for thinking of it as an established and non-controversial component of Marxian political economy. Indeed, the “neo-Marxian” theory of secular stagnation which developed out of the analysis of monopoly capital—notably, in the work of Micha Kalecki, […]

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Sustainability and Metabolic Revolution in the Work of Henri Lefebvre

“Sustainability and Metabolic Revolution in the Works of Henri Lefebvre” (coauthored with Brian Napoletano, Brett Clark, and Pedro Urquijo, Foster listed third) World (December 2020), pp. 300-317. Humanity’s present social–ecological metabolic configuration is not sustainable, and the need for a radical transformation of society to address its metabolic rifts with the rest of nature is increasingly […]

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