Keynes was an elitist and pro-capitalist economist, whom the left
should embrace with caution. But his analysis provides a
concreteness missing from Marx and engages with critical issues of
the ...modern world that Marx could not have foreseen. This book
argues that a critical Marxist engagement can simultaneously
increase the power of Keynes's insight and enrich Marxism. To
understand Keynes, whose work is liberally invoked but seldom read,
Dunn explores him in the context of the extraordinary times in
which he lived, his philosophy, and his politics. By offering a
detailed overview of Keynes's critique of mainstream economics and
General Theory , Dunn argues that Keynes provides an
enduringly valuable critique of orthodoxy. The book develops a
Marxist appropriation of Keynes's insights, arguing that a Marxist
analysis of unemployment, capital and the role of the state can be
enriched through such a critical engagement. The point is to change
the world, not just to understand it. Thus the book considers the
prospects of returning to Keynes, critically reviewing the
practices that have come to be known as 'Keynesianism' and the
limits of the theoretical traditions that have made claim to his
legacy.
Neoliberalism is a slippery concept, neither intellectually precise nor political useful. It is used so widely, to mean such different things, that it becomes almost impossibly vague, while ...dissimilar international experiences of social change undermine the sweeping designation provided by most presentations of neoliberalism. The term is too often used as a catch-all category or as a category that catches selectively whatever a particular author chooses and disapproves. It is a word of the academic ‘left’, accepted neither by our opponents, the supposed neoliberals, nor in popular discourse, and its use perpetuates a self-referential world of our own. There is little new or liberal in the ideas or practices of ‘neoliberalism’. The term is politically unhelpful, little use in identifying strategic priorities. A tendency to reproduce a binary, which posits the state as good and market as bad, is particularly unhelpful.
Equity purchases by Australian superannuation funds have the potential to stoke, and may already have stoked, an unsustainable asset bubble. While it is impossible to prove this - financial bubbles ...only reveal themselves after the event - it is clear that Australian superannuation funds fuel an asymmetrical development of equity markets rather than feeding real investment in the way advocates anticipated. Growing superannuation funds provide net money inflows, unmatched by new equity or rises in the level of 'real economy' activity represented by existing shares. Superfunds therefore raise the demand on secondary markets, pushing-up prices.
Celotno besedilo
Dostopno za:
CEKLJ, DOBA, IZUM, KILJ, NUK, ODKLJ, PILJ, PNG, SAZU, SIK, UILJ, UKNU, UL, UM, UPUK
Equity purchases by Australian superannuation funds have the potential to stoke, and may already have stoked, an unsustainable asset bubble. While it is impossible to prove this - financial bubbles ...only reveal themselves after the event - it is clear that Australian superannuation funds fuel an asymmetrical development of equity markets rather than feeding real investment in the way advocates anticipated. Growing superannuation funds provide net money inflows, unmatched by new equity or rises in the level of 'real economy' activity represented by existing shares. Superfunds therefore raise the demand on secondary markets, pushing-up prices.
Celotno besedilo
Dostopno za:
CEKLJ, DOBA, IZUM, KILJ, NUK, ODKLJ, PILJ, PNG, SAZU, SIK, UILJ, UKNU, UL, UM, UPUK
One hundred years on from their first appearance in Leon Trotsky's Results and Prospects, this is a critical re-evaluation of two key Marxist theories: uneven and combined development, and permanent ...revolution. It brings together a formidable array of Marxist intellectuals from across the world including Daniel Bensaid, Michael Löwy, Hillel Ticktin and Patrick Bond. Marx saw societies progressing through distinct historical stages – feudal, bourgeois and communist. Trotsky advanced this model by considering how countries at different stages of development influence each other. Developed countries colonise less developed countries and exploit their people and resources. Elsewhere, even as many were kept in poverty, the influence of foreign capital and state-led industrialisation produced novel economic forms and prospects for political alliances and change. The contributors show how, 100 years on from its original publication, Trotsky's theories are hugely useful for understanding today's globalised economy, dominated by US imperialism. The book makes an ideal introduction to Trosky's thinking, and is ideal for students of political theory and development economics.
The profound insights provided by Minsky's theory of financial instability are insufficient. On the one hand, as Marxists and other critics have pointed out, they tend to dissociate finance from the ...instability-creating dynamics of the wider economy. On the other hand, they tend to depict the state as an exogenous, stabilizing, influence. This creates an inherent tension in Minsky's analysis, which also insists, “stability is destabilizing.” A Marxist understanding resolves this tension. The state is an essential and active component of capitalism and its contradictions. State interventions may attenuate some of capitalism's destabilizing processes but these displace rather than eliminate the underlying contradictions and themselves contribute to longer-term instability and crises.
