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![]() Marxist Economic Theory
Mandel, Ernest
Publisher: Merlin Press, London, United KingdomYear First Published: {16856 Marxist Economic Theory MARXIST ECONOMIC THEORY Mandel, Ernest Merlin Press London United Kingdom Marxist Economic Theory is a major intellectual project which adapts Marx's analysis of capitalism to the world of the late 20th century. Mandel examines post-war upheavals in the development of imperialism, monopoly capitalism and the structure of the state-controlled economies. 1962 1971 797pp BC16856-MarxistEconTheory.jpg B Book - <br> <br> <br>Table of Contents <br> <br>INTRODUCTION <br> <br>Paradox of Marxism today <br>Responsibility of the Marxists <br>Economic theory and empirical facts <br>Economic theory and economic history <br>Method <br>The value and power of attraction of Marxism <br>Living Marxism: a promise <br> <br> <br>CHAPTER ONE : LABOUR, NECESSARY PRODUCT, SURPLUS PRODUCT <br> <br>Labour, society, communication, language, consciousness, <br>Humanity <br>Necessary product <br>Beginning of the social division of labour <br>First appearance of a social surplus product <br>The neolithic revolution <br>Co-operative organisation of labour <br>Primitive occupation of the soil <br>The cultivation of irrigated land, cradle of civilisation <br>The metallurgical revolution <br>Production and accumulation <br>Is there an "economic surplus"? <br> <br> <br>CHAPTER TWO: EXCHANGE, COMMODITY, VALUE <br> <br>Simple exchange <br>Silent barter and ceremonial gifts <br>Developed <br>Trade <br>Production for use and production of commodities <br>Co-operatively organised society and society based on economy <br>Of labour-time <br>Exchange-value of commodities <br>Petty commodity production <br>Law of value in petty commodity production <br> <br> <br>CHAPTER THREE: MONEY, CAPITAL, SURPLUS-VALUE <br> <br>Need for universal equivalent <br>Evolution of the universal equivalent <br>Money <br>Evolution of social wealth and different functions of money <br>Circulation of commodities and circulation of money <br>Surplus-value emerging from the circulation of commodities <br>Surplus-value arising from commodity production <br>Capital, surplus-value and social surplus product <br>Law of uneven development <br> <br> <br>CHAPTER FOUR: THE DEVELOPMENT OF CAPITAL <br> <br>Forms of agricultural surplus product <br>Accumulation of use-values and accumulation of surplus-value <br>Usurer's capital <br>Merchant capital <br>The commercial revolution <br>Domestic industry <br>Manufacturing capital <br>Creation of the modern proletariat <br>The Industrial Revolution <br>Special features of capitalist development in Western Europe <br>Capital and the capitalist mode of production <br> <br> <br>CHAPTER FIVE: THE CONTRADICTIONS OF CAPITALISM <br> <br>Capital thirsting for surplus-value <br>The lengthening of the working day <br>Growth in the productivity and intensity of labour <br>Human labour-power and machine production <br>Forms and evolution of wages <br>Additional note on the theory of absolute impoverishment <br>Dual function of labour-power <br>Equalisation of he rate of profit in pre-capitalist society <br>Equalisation of the rate of profit in the capitalist mode of production <br>Price of production and value of commodities <br>Centralisation and concentration of capital <br>Tendency of the average rate of profit to fall <br>Supreme contradiction of the capitalist system <br>Free labour and alienated labour <br>Class struggle <br> <br> <br>CHAPTER SIX: TRADE <br> <br>Trade, outcome of uneven economic development <br>Production and realisation of surplus-value <br>Annual amount of surplus-value and annual rate of profit <br>Commercial capital and commercial profit <br>Commercial capital and labour-power engaged in distribution <br>The concentration of commercial capital <br>Capital invested in transport <br>International trade <br>Costs of distribution <br>The Tertiary Sector <br> <br> <br>CHAPTER SEVEN: CREDIT <br> <br>Mutual aid and credit <br>Origin of banking <br>Credit in pre-capitalist society <br>Supply and demand of money capital in the epoch of commercial capital <br>Supply and demand of money capital in the epoch of industrial capitalism <br>Interest and rate of interest <br>Circulation credit <br>Investment credit and the finance market <br>The Stock Exchange <br>Joint-stock companies and the evolution of capitalism <br>Consumer's credit <br>Credit and the contradictions of capitalism <br> <br> <br>CHAPTER EIGHT: MONEY <br> <br>The two functions of money <br>Value of metallic money and price movements <br>Circulation of metallic money <br>Origins of private fiduciary currency <br>Origins of public private fiduciary currency <br>Creation of public fiduciary currency: First source: discounting <br>Creation of public fiduciary currency: Second source: advances on current account (overdrafts) <br>Creation of public fiduciary currency : Third source: public expenditure <br>Socially-necessary stock of currency <br>Circulation of inconvertible paper money <br>Balance of payments <br>Central banks and bank credit <br>Three forms of inflation <br>Purchasing power, circulation currency and rate of interest <br> <br> <br> <br>CHAPTER NINE: AGRICULTURE <br> <br>Agriculture and commodity production <br>Pre-capitalist rent and capitalist ground-rent <br>Origins of capitalist ground-rent <br>Differential ground-rent <br>Absolute ground-rent <br>Ground-rent and the capitalist mode of production <br>Price of land and evolution of ground-rent <br>Landed property and the capitalist mode of production <br>Production-relations and property-relations in the countryside <br>Concentration and centralisation of capital in agriculture <br>The wretched lot of the agricultural worker <br>From the theories of Malthus to agricultural Malthusianism <br>Ground-rent and the marginal theory of value <br> <br> <br> <br>CHAPTER TEN: REPRODUCTION AND GROWTH OF THE NATIONAL INCOME <br> <br>New value, new income and transferred income <br>The State, surplus-value and social income <br>The sharing-out of surplus-value <br>Social product and social income <br>Distribution of incomes and realisation of commodities <br>Production and reproduction <br>Simple reproduction <br>Expanded reproduction <br>Expanded reproduction and the law of development of capitalism <br>Expanded reproduction, economic growth and social accounting <br>Contracted reproduction <br>War economy <br>Redistribution of national income by the state <br> <br> <br>CHAPTER ELEVEN: PERIODICAL CRISES <br> <br>Pre-capitalist and capitalist crises <br>General possibility of capitalist crisis <br>Law of markets <br>Cyclical progress of capitalist economy <br>Internal logic of the capitalist cycle <br>Extension of the basis of capitalist production <br>Under-consumption theories <br>Critique of "under-consumption" models <br>Theories of disproportionality <br>Outline of a synthesis <br>Conditions of capitalist expansion <br>No growth without fluctuations? <br> <br> <br> <br>CHAPTER TWELVE: MONOPOLY CAPITALISM <br> <br>The second industrial revolution <br>Industrial concentration accentuated <br>Monopoly agreements, groupings and combines <br>The forms of capitalist concentration <br>Bank concentration and finance capital <br>Monopolies <br>The empires of financial groups <br>Monopoly super-profits <br>Equalisation of the monopoly rate of profit <br>Origins of monopoly profit <br>Monopolies as fetters on economic progress <br>Monopolies and "oligopolies" <br>Monopoly capitalism and contradictions of capitalism <br> <br> <br> <br>CHAPTER THIRTEEN: IMPERIALISM <br> <br>Capitalism and inequality among nations <br>The world market and industrial capitalism <br>From export of goods to export of capital <br>Colonialism <br>Colonial super-profits <br>The world-wide division of labour <br>International trusts and cartels <br>Private trusts wield sovereign rights in under-developed countries <br>Economic structure of the under-developed countries <br>Imperialism as an obstacle to the industrialisation of under-developed countries <br>Neo-imperialism <br> <br> <br> <br>CHAPTER FOURTEEN: THE EPOCH OF CAPITALIST DECLINE <br> <br>Concentration and centralisation of capital on an international scale <br>Relative shrinkage and fragmentation of the world market <br>All-round cartellisation of industry <br>Forced cartellisation <br>The bourgeoisie and the state <br>The state as guarantor of monopoly profits <br>Increasing fusion between state and monopolies <br>Self-financing <br>Overcapitalisation <br>Growing importance of armaments and war economy <br>Permanent tendency to currency inflation <br>A crisis-free capitalism? <br>The law of development of capitalism in its age of decline <br>Welfare State and Fascism <br>The age of the managers? <br>The bankruptcy of capitalism <br> <br> <br>CHAPTER FIFTEEN: THE SOVIET ECONOMY <br> <br>Stages of the soviet economy <br>What the Five-Year Plans achieved <br>The social character of the soviet economy <br>The "economic categories" in the U.S.S.R. <br>The fundamental contradictions of soviet economy <br>Disproportion between industry and agriculture <br>Planned economy and the material incentive of personal interest <br>The contradictions of bureaucratic management <br>Bureaucratic management and worker' conditions <br> <br> <br>CHAPTER SIXTEEN: THE ECONOMY OF THE TRANSITION PERIOD <br> <br>The third industrial revolution <br>Need for a transition period <br>Sources of international socialist accumulation <br>Sources of socialist accumulation in industrialised countries <br>Sources of socialist accumulation in under-developed countries <br>Maximum and optimum rates of accumulation <br>Note on the "law of priority in the development of the capital goods sector" <br>Economic function of socialist democracy <br>Planned economy and market economy <br>Planning techniques <br>New production relation and socialised mode of production <br>Agriculture and distribution in the transition period <br>A mixed economy? <br> <br> <br> <br>CHAPTER SEVENTEEN: SOCIALIST ECONOMY <br> <br>Mode of production, mode of distribution, mode of life <br>Individual wages and social wages <br>Basic needs and secondary needs : freedom of consumption and rational consumption <br>Withering away of commodity production and money economy <br>Economic revolution and psychological revolution <br>Withering away of classes and the state <br>Economic growth not a permanent aim <br>Alienated labour and free labour <br>Man's limitations? <br> <br> <br> <br>CHAPTER EIGHTEEN: ORIGIN, RISE AND WITHERING AWAY OF POLITICAL ECONOMY <br> <br>Economic activity and ideology <br>The dawn of economic thought <br>Origins of the labour theory of value <br>Development of the labour theory of value <br>Climax and break-up of classical political economy <br>Marx's contribution <br>Attacks on the labour theory of value <br>The marginalist theory of value and neo-classical political economy <br>The "Keynesian revolution" <br>The econometrists <br>An apologetic variant of Marxism <br>New developments in economic thinking in the U.R.S.S. <br>The end of political economy <br> <br>BIBLIOGRAPHY <br> <br>INDEX CX7512 1 false true false CX7512.htm [0xc0003a9c20] Cx} Year Published: 1971 Pages: 797pp Resource Type: Book Cx Number: CX7512 Marxist Economic Theory is a major intellectual project which adapts Marx's analysis of capitalism to the world of the late 20th century. Mandel examines post-war upheavals in the development of imperialism, monopoly capitalism and the structure of the state-controlled economies. Abstract: - Table of Contents INTRODUCTION Paradox of Marxism today Responsibility of the Marxists Economic theory and empirical facts Economic theory and economic history Method The value and power of attraction of Marxism Living Marxism: a promise CHAPTER ONE : LABOUR, NECESSARY PRODUCT, SURPLUS PRODUCT Labour, society, communication, language, consciousness, Humanity Necessary product Beginning of the social division of labour First appearance of a social surplus product The neolithic revolution Co-operative organisation of labour Primitive occupation of the soil The cultivation of irrigated land, cradle of civilisation The metallurgical revolution Production and accumulation Is there an "economic surplus"? CHAPTER TWO: EXCHANGE, COMMODITY, VALUE Simple exchange Silent barter and ceremonial gifts Developed Trade Production for use and production of commodities Co-operatively organised society and society based on economy Of labour-time Exchange-value of commodities Petty commodity production Law of value in petty commodity production CHAPTER THREE: MONEY, CAPITAL, SURPLUS-VALUE Need for universal equivalent Evolution of the universal equivalent Money Evolution of social wealth and different functions of money Circulation of commodities and circulation of money Surplus-value emerging from the circulation of commodities Surplus-value arising from commodity production Capital, surplus-value and social surplus product Law of uneven development CHAPTER FOUR: THE DEVELOPMENT OF CAPITAL Forms of agricultural surplus product Accumulation of use-values and accumulation of surplus-value Usurer's capital Merchant capital The commercial revolution Domestic industry Manufacturing capital Creation of the modern proletariat The Industrial Revolution Special features of capitalist development in Western Europe Capital and the capitalist mode of production CHAPTER FIVE: THE CONTRADICTIONS OF CAPITALISM Capital thirsting for surplus-value The lengthening of the working day Growth in the productivity and intensity of labour Human labour-power and machine production Forms and evolution of wages Additional note on the theory of absolute impoverishment Dual function of labour-power Equalisation of he rate of profit in pre-capitalist society Equalisation of the rate of profit in the capitalist mode of production Price of production and value of commodities Centralisation and concentration of capital Tendency of the average rate of profit to fall Supreme contradiction of the capitalist system Free labour and alienated labour Class struggle CHAPTER SIX: TRADE Trade, outcome of uneven economic development Production and realisation of surplus-value Annual amount of surplus-value and annual rate of profit Commercial capital and commercial profit Commercial capital and labour-power engaged in distribution The concentration of commercial capital Capital invested in transport International trade Costs of distribution The Tertiary Sector CHAPTER SEVEN: CREDIT Mutual aid and credit Origin of banking Credit in pre-capitalist society Supply and demand of money capital in the epoch of commercial capital Supply and demand of money capital in the epoch of industrial capitalism Interest and rate of interest Circulation credit Investment credit and the finance market The Stock Exchange Joint-stock companies and the evolution of capitalism Consumer's credit Credit and the contradictions of capitalism CHAPTER EIGHT: MONEY The two functions of money Value of metallic money and price movements Circulation of metallic money Origins of private fiduciary currency Origins of public private fiduciary currency Creation of public fiduciary currency: First source: discounting Creation of public fiduciary currency: Second source: advances on current account (overdrafts) Creation of public fiduciary currency : Third source: public expenditure Socially-necessary stock of currency Circulation of inconvertible paper money Balance of payments Central banks and bank credit Three forms of inflation Purchasing power, circulation currency and rate of interest CHAPTER NINE: AGRICULTURE Agriculture and commodity production Pre-capitalist rent and capitalist ground-rent Origins of capitalist ground-rent Differential ground-rent Absolute ground-rent Ground-rent and the capitalist mode of production Price of land and evolution of ground-rent Landed property and the capitalist mode of production Production-relations and property-relations in the countryside Concentration and centralisation of capital in agriculture The wretched lot of the agricultural worker From the theories of Malthus to agricultural Malthusianism Ground-rent and the marginal theory of value CHAPTER TEN: REPRODUCTION AND GROWTH OF THE NATIONAL INCOME New value, new income and transferred income The State, surplus-value and social income The sharing-out of surplus-value Social product and social income Distribution of incomes and realisation of commodities Production and reproduction Simple reproduction Expanded reproduction Expanded reproduction and the law of development of capitalism Expanded reproduction, economic growth and social accounting Contracted reproduction War economy Redistribution of national income by the state CHAPTER ELEVEN: PERIODICAL CRISES Pre-capitalist and capitalist crises General possibility of capitalist crisis Law of markets Cyclical progress of capitalist economy Internal logic of the capitalist cycle Extension of the basis of capitalist production Under-consumption theories Critique of "under-consumption" models Theories of disproportionality Outline of a synthesis Conditions of capitalist expansion No growth without fluctuations? CHAPTER TWELVE: MONOPOLY CAPITALISM The second industrial revolution Industrial concentration accentuated Monopoly agreements, groupings and combines The forms of capitalist concentration Bank concentration and finance capital Monopolies The empires of financial groups Monopoly super-profits Equalisation of the monopoly rate of profit Origins of monopoly profit Monopolies as fetters on economic progress Monopolies and "oligopolies" Monopoly capitalism and contradictions of capitalism CHAPTER THIRTEEN: IMPERIALISM Capitalism and inequality among nations The world market and industrial capitalism From export of goods to export of capital Colonialism Colonial super-profits The world-wide division of labour International trusts and cartels Private trusts wield sovereign rights in under-developed countries Economic structure of the under-developed countries Imperialism as an obstacle to the industrialisation of under-developed countries Neo-imperialism CHAPTER FOURTEEN: THE EPOCH OF CAPITALIST DECLINE Concentration and centralisation of capital on an international scale Relative shrinkage and fragmentation of the world market All-round cartellisation of industry Forced cartellisation The bourgeoisie and the state The state as guarantor of monopoly profits Increasing fusion between state and monopolies Self-financing Overcapitalisation Growing importance of armaments and war economy Permanent tendency to currency inflation A crisis-free capitalism? The law of development of capitalism in its age of decline Welfare State and Fascism The age of the managers? The bankruptcy of capitalism CHAPTER FIFTEEN: THE SOVIET ECONOMY Stages of the soviet economy What the Five-Year Plans achieved The social character of the soviet economy The "economic categories" in the U.S.S.R. The fundamental contradictions of soviet economy Disproportion between industry and agriculture Planned economy and the material incentive of personal interest The contradictions of bureaucratic management Bureaucratic management and worker' conditions CHAPTER SIXTEEN: THE ECONOMY OF THE TRANSITION PERIOD The third industrial revolution Need for a transition period Sources of international socialist accumulation Sources of socialist accumulation in industrialised countries Sources of socialist accumulation in under-developed countries Maximum and optimum rates of accumulation Note on the "law of priority in the development of the capital goods sector" Economic function of socialist democracy Planned economy and market economy Planning techniques New production relation and socialised mode of production Agriculture and distribution in the transition period A mixed economy? CHAPTER SEVENTEEN: SOCIALIST ECONOMY Mode of production, mode of distribution, mode of life Individual wages and social wages Basic needs and secondary needs : freedom of consumption and rational consumption Withering away of commodity production and money economy Economic revolution and psychological revolution Withering away of classes and the state Economic growth not a permanent aim Alienated labour and free labour Man's limitations? CHAPTER EIGHTEEN: ORIGIN, RISE AND WITHERING AWAY OF POLITICAL ECONOMY Economic activity and ideology The dawn of economic thought Origins of the labour theory of value Development of the labour theory of value Climax and break-up of classical political economy Marx's contribution Attacks on the labour theory of value The marginalist theory of value and neo-classical political economy The "Keynesian revolution" The econometrists An apologetic variant of Marxism New developments in economic thinking in the U.R.S.S. The end of political economy BIBLIOGRAPHY INDEX Subject Headings |