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Economics --- Equality. --- Social justice. --- Moral and ethical aspects. --- 330.1 --- 330.34 --- -economie --- economie planifiee --- socialisme --- theories economiques --- Economic theory --- Political economy --- Social sciences --- Economic man --- Economische grondbegrippen. Algemene begrippen in de economie --- Economische ontwikkeling. Regionale economische ontwikkeling --- Moral and ethical aspects --- planeconomie --- economische theorieen --- 330.34 Economische ontwikkeling. Regionale economische ontwikkeling --- 330.1 Economische grondbegrippen. Algemene begrippen in de economie --- Equality --- Social justice --- economie --- Justice --- Egalitarianism --- Inequality --- Social equality --- Social inequality --- Political science --- Sociology --- Democracy --- Liberty --- Economics - Moral and ethical aspects.
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Capitalism --- Economic policy --- Economic stabilization --- Saving and investment --- Developing countries --- Economic policy.
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Why is money more valuable than the paper on which it is printed? Monetarists link the value of money to its supply and demand, believing the latter depends on the total value of the commodities it circulates. According to Prabhat Patnaik, this logic is flawed. In his view, in any nonbarter economy, the value we assign to money is determined independently of its supply and demand.Through an original and provocative critique of monetarism, Patnaik advances a revolutionary understanding of macroeconomics that highlights the "propertyist" position of Karl Marx and John Maynard Keynes. Unlike the usual division between "classical" economists (e.g., David Ricardo and Marx) and the "marginalists" (e.g., Carl Menger, William Stanley Jevons, and Léon Walras), Patnaik places "monetarists," including Ricardo, on one side, while grouping propertyist writers like Marx, Keynes, and Rosa Luxemburg on the other. This second group subscribes to the idea that the value of money is given from outside the realm of supply and demand, therefore making money a form in which wealth is held. The fact that money is held as wealth in turn gives rise to the possibility of deficiency of aggregate demand under capitalism. It is no accident that this possibility was highlighted by Marx and Keynes while going largely unrecognized by Ricardo and contemporary monetarists. At the same time, Patnaik points to a weakness in the Marx-Keynes traditionnamely, its lack of any satisfactory explanation of why the value of money, determined from outside the realm of supply and demand, remains relatively stable over long stretches of time. The answer to this question lies in the fact that capitalism is not a self-contained system but is born from a precapitalist setting with which it interacts and where it creates massive labor reserves that, in turn, impart stability to the value of money. Patnaik's theory of money, then, is also a theory of imperialism, and he concludes with a discussion of the contemporary international monetary system, which he terms the "oil-dollar" standard.
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Part of a three volume set, this volume is a critical review of macroeconomic issues such as monetary policy, fiscal policy, financial liberalization, intersectoral linkages, open economy macroeconomics, labour conditions, and intergovernmental fiscal transfers.
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In A Theory of Imperialism, economists Utsa Patnaik and Prabhat Patnaik present a new theory of the origins and mechanics of capitalism that sounds an alarm about its ongoing viability. Their theory centers on trade between the core economies of the global North and the tropical and subtropical countries of the global South and considers how the Northern demand for commodities (such as agricultural products and oil) from the South has perpetuated and solidified an imperialist relationship. The Patnaiks explore the dynamics of this process and discuss innovations that could allow the economies of the South to achieve greater prosperity without damaging the economies of the North. The result is an original theory of imperialism that brings to light the crippling limitations of neoliberal capitalism.A Theory of Imperialism also includes a response by David Harvey, who interprets the agrarian system differently and sees other factors affecting trade between the North and the South. Their debate is one of the most provocative exchanges yet over the future of the global economy as resources grow thin, populations explode, and universal prosperity becomes ever more elusive.
Imperialism --- Capitalism --- Colonies --- Economic aspects. --- History. --- Commerce. --- Developed countries --- Market economy --- Economics --- Profit --- Capital --- Colonialism --- Empires --- Expansion (United States politics) --- Neocolonialism --- Political science --- Anti-imperialist movements --- Caesarism --- Chauvinism and jingoism --- Militarism --- Advanced countries --- Advanced nations --- Developed nations --- Economically advanced countries --- Economically advanced nations --- First World --- Industrial countries --- Industrial nations --- Industrial societies --- Industrialized countries --- Industrialized nations --- Western countries --- Economic aspects --- History --- Commerce --- E-books
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"Radical Marxist political economists Utsa Patnaik and Prabhat Patnaik argue that the accumulation of capital has always required the taking of land, raw materials, and bodies from noncapitalist modes of production. They begin with a thorough debunking of mainstream economics. Then, looking at the history of capitalism, from the beginnings of colonialism half a millennium ago to today's neoliberal regimes, they discover that, over the long haul, capitalism, in order to exist, must metastasize itself in the practice of imperialism and the immiseration of countless people"--
Capitalism. --- Imperialism --- Economic aspects. --- Economic order
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"Radical Marxist political economists Utsa Patnaik and Prabhat Patnaik argue that the accumulation of capital has always required the taking of land, raw materials, and bodies from noncapitalist modes of production. They begin with a thorough debunking of mainstream economics. Then, looking at the history of capitalism, from the beginnings of colonialism half a millennium ago to today's neoliberal regimes, they discover that, over the long haul, capitalism, in order to exist, must metastasize itself in the practice of imperialism and the immiseration of countless people"--
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