The Basic Theory of Capitalism: The Forms and Substance of the Capitalist Economy

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Rowman & Littlefield, 1988 - Business & Economics - 432 pages
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Beginning with a clear-cut review of the major economic schools, this book systematically studies the strengths and weaknesses in Marx's Capital proposes original solutions to the issues of value, labor and crises. The author thus provides an insight into the basic character of capitalism and its superficial forms and social substance.
 

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Contents

The Birth of the Theoretical System of Capitalism
3
12 PHYSIOCRACY
6
13 THE CLASSICAL SCHOOL
11
Adam Smith
12
David Ricardo
16
The Dissolution of the Classical School and the Diversification of Schools
22
Utopian Socialism
24
The Revisionist Succession to Classical Theory
26
62 THE JOINT PRODUCTION PROBLEM
169
AntiCritiques
171
An Alternative Solution
174
63 THE REPRODUCTION SCHEMES AND THE LAW OF VALUE
178
The Form and Substance of Value in the Reproduction
182
The Social Foundation of the Law of Value
191
Competition among Capitals
199
The Transformation Controversy
210

22 THE HISTORICAL SCHOOL
27
23 THE NEOCLASSICAL SCHOOL
30
The Marxian Theory of Capitalism
39
The Role of Historical Materialism
43
Political Economy in the Manifesto
47
32 THE SCOPE OF THE THEORETICAL SYSTEM OF CAPITAL
51
Marxs Initial Plan and the Scope of Capital
55
How to Locate and Complete Capital
59
33 THE TASKS OF MARXIAN STUDIES AFTER CAPITAL
62
The Tasks of the Basic Theory
65
The Forms of Value Commodity Money and Capital
73
The Valueform of Commodities
78
42 MONEY AND THE CIRCULATION OF COMMODITIES
87
The Means of Circulation
91
Money as the Absolute Form of Value
95
43 THE TRANSFORMATION OF MONEY INTO CAPITAL
97
Another Transformation Problem
102
Capitalist Production and the Law of Value
109
Abstract Labour
113
SurplusLabour
122
52 THE LAW OF VALUE AND THE VALORISATION PROCESS
127
The Value of Labourpower
136
Production of Surplusvalue
141
The Extension of the Theory of the Substance of Value
149
61 SKILLED LABOUR IN THE VALUE THEORY
150
The Recent Technological Analyses
154
The Historical and Universal Basis for a Solution
158
The Theory of Prices of Production Reconsidered
220
72 THE MARKET PRICES OF PRODUCTION
226
73 GROUNDRENT AND LANDED PROPERTY
235
Differential Rent
237
Absolute Rent
246
The Mobilisation of Capitals
250
81 COMMERCIAL CAPITAL
251
82 THE CREDIT SYSTEM
257
Commercial Credit
260
Bank Credit
264
The Rate of Interest
273
83 JOINTSTOCK CAPITAL
278
Business Cycles and Crises
290
92 THE LAW OF CAPITALIST ACCUMULATION
295
93 REGULAR BUSINESS CYCLES AND CRISES
303
Crisis
313
Depression
318
94 BUSINESS CYCLES AND THE LAW OF VALUE
325
95 THE METAMORPHOSES OF THE BUSINESS CYCLE AND THE LONG WAVES
333
On Socialism
347
102 THE IMPLICATIONS OF VALUE THEORY FOR SOCIALISM
354
The Concept of Laboursubstance for Socialism
362
103 ACCUMULATION AND THE STATE IN SOCIALISM
368
Notes
376
Bibliography
417
Index
428
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