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Ernest Mandel, a heterodox Marxist economist, shows here how a political economist can analyse systems such as the Soviet Union.
‘We cannot afford their peace & We cannot bear their wars’:
Value, Exploitation, Profitability Crises & ‘Rectification’
The second edition of International Political Economy continues to be the perfect short introduction to the fundamental theories and issues of international political economy (IPE).
The concept of financialisation has undergone a similar career as ‘globalisation’, ‘neoliberalism’ or even ‘capitalism’, in the course of which it changed from the explanandum to the explanans; the process of financialisation is taken for granted, while the concrete historical and empirical causal conditions of its realisation and perpetuation are being moved into the background.
Professor David Harvey presents a complete visual representation of the flow of capital in all its forms. Similar to the Water Cycle diagrams, Harvey models the economics of production, consumption, human reproduction, labor, private business, and government redistribution.
The book’s central theme is to develop a new theory of speculative capital related to other forms of capital, the world market, and the state. Unlike most marxist and heterodox theories, the book distinguishes credit and fictitious capital from speculative capital to show its hegemony today in the capital markets.
To explain the pronounced instability of the world economy since the 1970s, the book offers an important and systematic theoretical examination of money and finance.
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