In some of the most powerful and engaging passages in Capital in 1867 Karl Marx wrote about the systematic fraud at the heart of market relations. Fraud, adulteration of food (a topic close to Marx’s heart) and corruption, were elements of capitalist development from the earliest days. As [...]
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Werner Bonefeld’s The Strong State and the Free Economy is both a brilliant treatise on the work of a group of German thinkers in the interwar- and postwar years known as ordoliberals, and a forceful argument concerning the nature of present-day European monetary union. In the introduction, [...]
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In May 2017, the Congreso Nacional Indígena [National Indigenous Congress] together with the Ejército Zapatista de Liberación Nacional [EZLN] named a Concejo Indígena de Gobierno (CIG) [Indigenous Governing Council] and an indigenous woman, María de Jesús Patricio Martínez, presidential [...]
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This post is written jointly with Madhumita Dutta and Peter Birke.
Twenty-first century working class struggles have seen alliances of working people in response to issues such as climate change, immigrant rights, informalisation of work and the political-economic crisis across the [...]
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From the very beginning, the area of mainstream economics devoted to Third World development has been imbued with a utopian impulse. The basic idea has been that traditional societies need to be transformed in order to pass through the various stages of growth and, if successful, they will [...]
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In 2012, the Bank of Japan (BoJ), launched one of the largest monetary policy experiments in the history of the 21st century. Whilst in the years since the GFC, many countries have engaged in the kind of bond buy-back programs now referred to as quantitative easing (QE), Japan’s is [...]
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Mainstream economists refer to it as price theory, everyone else value theory. But whatever it’s called, it’s at the center of economists’ differing explanations of what happens in (and alongside) markets.
As I see it, price/value theory serves as the framework to [...]
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My recent monograph with the University of Georgia Press (Geographies of Social Justice and Transformation series), seeks to give empirical grounding to Henri Lefebvre’s famous statement that, ‘Today, more than ever, the class struggle is inscribed in space.’ An overarching focus on issues [...]
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