27 Jul 2021, 4:09 am
Capital & Class
Capital &Class, Ahead of Print.
In this article, I consider what E. P. Thompson and Ellen Meiksins Wood have to say about the concept of a social formation and its significance for Marxism. I consider these thinkers together for two reasons. In the first place, the views of Meiksins Wood owe a great deal to her engagement with Thompson’s writings. In the second place, despite Meiksins Wood claim that she is simply following a lead provided by E. P. Thompson, there is a significant (though unacknowledged) difference between her views and his. Meiksins Wood departs from Thompson when she argues that the concept of a social formation ought to be excluded from the lexicon of Marxism. When discussing the concept of a social formation, both Thompson and Meiksins Wood attach importance to the ‘general illumination’ passage in the general introduction to Marx’s Grundrisse. However, they read this passage in very different ways. According to Thompson, this focal passage supports the view that the concept of a social formation is of fundamental importance for Marxist historians. This reading constitutes a challenge to Meiksins Wood’s view that the concept of a social formation is an Althusserian accretion which has a little significance for our understanding of the views of Marx and Marxism.
9 Jul 2021, 2:48 am
Capital & Class
Capital &Class, Ahead of Print.
This article deals with the Japanese contributions to the Marxian theory of commercial capital, which can be originally found in Part 4 of Capital Vol. 3. This part was formerly considered important for developing the historical development of capitalist society in Japan, which is called the stages theory. From the 1980s to the 2000s, Shigekatsu Yamaguchi led the Japanese studies on the Marxian theory of commercial capital to reorganise the theory in Parts 4 and 5 of Capital Vol. 3, thereby pioneering the theoretical study of the capitalist market. Based on that development, we discuss the reconstruction of the relationship between the theory of the capitalist market and the stages theory, thereby illustrating a renewed and clearer understanding of the historical trajectory of capitalism.
9 Jul 2021, 2:46 am
Capital & Class
Capital &Class, Ahead of Print.
This article builds on Marxist-feminist analyses of the links between the household, the economy, and the state through a discussion of recycling, pointing to the ways the unwaged work of household waste sorting contributes to capitalism’s crisis-prone dynamic of overaccumulation. Household waste sorting is an instance of work transfer – a reorganization of labor and day-to-day life by the state and industry in which production is shifted from industry into households without compensation. A periodization of ‘waste regimes’ reveals how the state management of waste both mirrors and is implicated in accumulation regimes, their crises, and their resolutions. The current recycling crisis demonstrates the contradictory nature and futility of recycling in capitalism, and the specific manner in which the work transfer involved in household waste sorting contributes to accumulation and crisis.
9 Jul 2021, 2:44 am
Capital & Class
Capital &Class, Ahead of Print.
This article describes the ascension of neoliberal economic ideas in the macroeconomic establishment in Denmark. Based on a systematic analysis of documents from the Danish government and the Economic Council from the 1970s to the early 2000s, the article traces the development of the economic ideas and policy instrument that dominate the analytical process of the Danish macroeconomic establishment. The article applies a Gramscian-inspired framework to track the gradual and uneven process under which neoliberal economic ideas became common sense in the Danish context. This framework challenges some of the assumptions of the ideational focus of much constructivist literature, and offers an alternative analysis focused on the legitimating role of economic ideas. As much of the ideational change took place after policy adaptions to international economic developments, the Danish case provides little support for the theory of the causal power of ideas. Rather, it seems as though economic models and ideas are imported as ‘after the fact’ legitimations of changes in policy.
6 Jul 2021, 2:31 am
Capital & Class
Capital &Class, Ahead of Print.
This article sheds light on the little known and poorly understood extensive discussion on the relationship between Marx’s Capital and Hegel’s Science of Logic in the tradition of creative Soviet Marxism. The exploration of the mechanism of ascending from the abstract to the concrete and its relation to the movement of thought from the concrete to the abstract was one of the key points of this discussion. The ascending from the abstract to the concrete is a crucial issue of the dialectical logic developed in German Classical Philosophy, especially in Hegel’s Science of Logic. Marx implemented the method of ascent from the abstract to the concrete to investigate a historically concrete object (the capitalist mode of production) as an organic whole.
18 Jun 2021, 2:45 am
Capital & Class
Capital &Class, Ahead of Print.
Drawing on 25 qualitative interviews, this paper attends to and critiques neoliberalism to demonstrate how management’s enforcement of targets and the expectancy to overwork in various workplaces corrodes the relationship between managers and employees. First, the paper briefly charts how the shift from post-war Keynesian welfare state capitalism to neoliberalism in the global north placed renewed emphasis on maximising profitability, and what this meant for working methods and innovations that managers now use to make an organisation more efficient. This is often regarded as ‘management practices’. It then connects management practices to the political economy and therefore sheds further empirical light on how management practices under neoliberalism impact adversely on workers, generating psychological distress, instability, pressure and a negative working environment. The paper closes with a discussion of how managers potentially perform an ideological function, directing workers’ attention away from neoliberalism and cementing capitalist realism; the negative ideological belief that there is no alternative to the current political economy.
10 Jun 2021, 1:43 am
Capital & Class
Capital &Class, Ahead of Print.
Capitalist-style reforms were an important factor in the economic and social evolution of the Late Ottoman Empire. This research investigates how foreign governments and financiers, and especially Britain, influenced these various financial reforms implemented in the Ottoman Empire during the 19th century. The chief purpose of such reforms was to integrate the Empire into the capitalist world-economy by imposing, both directly and indirectly, the adoption of rules, institutions, attitudes and procedures amenable to exploitation on the part of foreign and also local capitalists. Drawing on primary sources, mainly from the United Kingdom’s National Archives, the article argues that foreign pressure for financial reforms was instrumental in the Empire’s economic subjection to the rules and norms that regulated the capitalist world-economy, most notably in the field of public finance, banking and the monetary sector. It takes a long-term view and largely adheres to the scholarly evolution of Antonio Gramsci’s theory of hegemony and world-systems theory and methodology developed by Fernand Braudel, Immanuel Wallerstein and Giovanni Arrighi, adopting a multidisciplinary and macro-scale perspective. Special attention is paid to the correlation between secondary and primary sources in support of empirical evidence. More broadly, this research contributes to the literature on the capitalist world-economy and brings a set of theoretical frameworks to bear on defining the role of financial reforms induced mainly by Britain in peripheral and semi-peripheral countries.
9 Jun 2021, 3:34 am
Capital & Class
Capital &Class, Ahead of Print.
This short article explores the conception of the international relations of the capitalist world embedded in the last section of the Grundrisse, titled ‘Bastiat and Carey’. It shows that, contrary to the widespread tendency to take Marx as a theorist of ‘globalization’, Marx actually took the existence of nation-states and national economies seriously and conceived of their interrelations as arising from the contradictions of capitalism.
6 Jun 2021, 11:15 pm
Capital & Class
Capital &Class, Volume 45, Issue 2, Page 319-321, June 2021.
6 Jun 2021, 11:15 pm
Capital & Class
Capital &Class, Volume 45, Issue 2, Page 321-323, June 2021.