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This article attempts to assess Mario Bunge’s important but widely neglected criticisms of dialectics. It begins by providing a contextualized interpretation of Friedrich Engels’s metaphysics of the dialectics of nature before embarking on a detailed discussion of Leon Trotsky’s and contemporary “dialectical” scientists’ views on materialist dialectics. It argues that while some of Bunge’s criticisms are eminently sensible, the principles underlying the works of dialectical scientists are compatible with Bunge’s emergentist and systemic approach and can shed light on such issues (...) |
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The absence of would-be palpable skills in contemporary and modern art has become a commonplace of both conservative and radical art-criticism. Indeed, these criticisms have tended to define where the critic stands in relation to the critique of authorship and the limits of ‘expression’ at the centre of the modernist experience. In this article, I am less interested in why these criticisms take the form they do – this is a matter for ideology-critique and the sociology of criticism and audiences (...) No categories |
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Proponents of a monetary interpretation of Marx’s theory of value (monetäre Werttheorie) argue that one cannot estimate the amounts of socially necessary labour time that lie behind the prices, an interpretation usually ascribed to the West German Neue Marx‑Lektüre. As Hans-Georg Backhaus began fleshing out his monetary interpretation in the early 1970s, he referred explicitly to debate among economists in early‑1960s East Germany about the possibility of estimating quantities of labour value in terms of commodities’ labour content. In fact, scholars (...) |
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Fine and Saad-Filho are wrong to insist that an abstract category of production should be the starting point of Marxist value-theory in logical, temporal and causal terms. Marx, in Capital, begins with a repertoire of simpler categories and slowly constructs the complex category of capitalist production. It is vital that exploitation should be seen as one phase of a process of capital-in-motion, and due weight given to money, competition and realisation. |
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A further critique of Fine and Saad-Filho's reading of Marxist political economy: it neglects the monetary dimension of Marx's analysis; it focuses too much on production, and on the organic composition of capital, treated in isolation from the overall circuit of capital. An alternative theorisation is proposed, stressing what will now be called emergence patterns in Marx's value theory, and giving due weight to circulation, realisation, competition and capital allocation. |
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Minsky’s theory of financial instability helps clarify how Marxist theory can explain the highly financialised capitalism of today, and the crisis which started in 2008. The advanced economies currently have high realised profits in the productive sector and lagging rates of investment. Shareholder pressures encourage corporate strategies which focus on stock-market ratings and M&A operations, less on productive investment. Tax evasion and the build-up of reserve cash piles by corporations have contributed to a global surplus of what Marx called loanable (...) No categories |
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This article assess two important recent books on Marx's political economy and argues that, despite many virtues, there are some crucial limitations in their approach to Marx's political economy. Ben Fine's and Alfredo Saad-Filho's Marx's 'Capital' and The Value of Marx by Saad-Filho place too much explanatory weight on the composition of capital, giving too little attention to Marx's analysis of money, and to the processes of circulation and realisation. |
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Chris Arthur's approach aims at a systematic re-ordering of Marx's categories. This article argues that his approach is actually a different ordering of different categories that are positioned within a specific theoretical whole, a Hegelian re-interpretation of Marx and especially of abstract labour, which distances itself from Marx. While the debate has focused mainly on the philosophical aspects of Arthur's work, its economic features have not been the object of a systematic analysis. Yet, a full assessment of the 'New Dialectics' (...) |
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