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Marx’s critical political economy, ‘Marxist economics’ and actually occurring revolutions against capitalism
Abstract
Most revolutions against capitalism have occurred in ‘backward’ and Third World societies, and they have divided and disarrayed Marxisms in the West. One key reason, this paper argues, is intellectual. When, long ago, Marxists surrendered to the bourgeois challenge to Marx – neoclassical economics – developing, in place of Marx’s critical political economy, a ‘Marxist economics’, they lost touch with Marx’s analysis of capitalism as contradictory value production. That analysis could illuminate how capitalism’s contradictions drive its imperialist expansionism and how and why resistance to it must, equally necessarily, take national forms. As a result, major currents of Marxism in the West either have paid attention to imperialism and anti-imperialist resistance but without Marx’s analysis of capitalism as contradictory value production or have insisted that their (mistaken) conception of Marx’s analysis implies that capitalism has no necessary connection with imperialism. Neither tradition can actually develop Marxism to comprehend the actual historical record of revolutions since Marx’s time. Neither can inform new mobilisations against capitalism, whether in or outside its homelands. It is high time we return to Marx’s analysis of capitalism as value production and develop it.
Overview
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TL;DR
Desai argues that major Western Marxist currents abandoned Marx’s critical political economy for a “Marxist economics” shaped by neoclassical economics, leaving them unable to theorize imperialism, nations, and actually occurring revolutions against capitalism. She calls for returning to Marx’s analysis of capitalism as contradictory value production to understand anti-imperialist and national struggles.
Key findings
- The paper contends that neoclassical economics was an apologetic counterrevolution against classical political economy and Marx, listing antitheses such as production versus consumption/exchange, labour value versus utility, historical versus ahistorical method, and society as a whole versus a detached “economy.”
- It argues that “Marxist economics” emerged through a “policy of theoretical conciliation” associated with Tugan-Baranovsky and adopted false problems: the “transformation problem,” denial of capitalism’s demand problem, and rejection of the tendency of the rate of profit to fall (TRPF).
- It distinguishes “Smithian”/Monthly Review eclecticism, which kept imperialism politically important but abandoned Marx’s value analysis, from “Political Marxism”/Ricardian Marxism, which denied any necessary relation between capitalism and imperialism and neglected nations.
- It claims Lenin’s recognition of national revolutions against imperialism and the 1920 Comintern turn reflected the actual anti-imperialist dynamic, while Western Marxism divided over successful revolutions from Russia and China through Third World national and social revolutions to Venezuela today.
Methods
- Theoretical and historical essay in critical political economy; no empirical dataset, formal model, or quantitative analysis is presented.
- The analysis is a conceptual and historiographical critique of Marxist currents and texts, including Marx, classical political economy, neoclassical marginalism, Hilferding, Bukharin, Luxemburg, Lenin, Tugan-Baranovsky, Sweezy, Brenner, Mandel, and the Temporal Single System Interpretation (TSSI).
- The main argument is developed through textual interpretation and intellectual history, advocating a return to Marx’s value analysis and a geopolitical-economy approach to imperialism and national anti-imperialism.
Limitations
- The paper states in the acknowledgements that “length limitations prevented me from taking all of them on board” regarding comments from colleagues and referees.
- It also states that no part of the paper suggests wholesale rejection of the writers criticised; the issue is how neoclassical economics skewed their work.
- Evident from the text: the argument is an interpretive intellectual history rather than an empirical test, and it relies on selected theorists and currents to make its case.
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Claims the paper makes
65 Sources not found · 63 Own interpretation · 24 No basis given
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In the paper
“When, after an initial defence (discussed below), Marxists sought to assimilate rather than fight it, they produced a 'Marxist economics' Marx would not have recognised.”
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“It also meant, as Marx and Keynes pointed out, that it conceived exchange as barter, leaving out any consideration of the independent role of money in capitalist society. 19”
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In the paper
“However, revolution has not been kind to Marx's followers, at least in Marxism's Western homelands. Here, Marxism has divided and disarrayed over every successful revolution since Marx's time - from the Russian and Chinese through the national and social revolutions in the Third World to Venezuela today.”
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In the paper
“Initially, some Marxist economists, pre-eminently those associated with the US journal Monthly Review , for whom imperialism and anti-imperialism were politically important, sought to comprehend them through an eclectic theoretical framework, leaving the terrain of Marx's analysis of capitalism as value production.”
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“It posited a self-regulating market order which could exist anywhere at any time as a 'system of provision for human needs' . 14”
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“It forsook Marx's analysis of capitalism as value production, alleging that it suffered from a 'transformation problem' of transforming values into prices.”
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“However, in claiming that free trade benefitted all nations, it justified colonial patterns of trade. 21”
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In the paper
“This is because, long ago, they surrendered before the bourgeoisie's challenge to Marxism, neoclassical economics.”
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“In performing its ideological role, neoclassical economics has remained implacably opposed to left arguments, particularly in its Austrian and, as Quinn Slobodian has recently argued, 'globalist' Geneva versions. 17”
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“Classical political economy had sought to 'investigate the real internal framework [ Zusammenhang ] of bourgeois relations of production' 8 since capitalism's beginnings.”
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In the paper
“Eugen von Böhm-Bawerk may have initiated the encounter between neoclassical economics and Marxism when he criticised Marx in his 1884 Capital and Interest and more systematically and frontally in Karl Marx and the Close of His System .”
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In the paper
“This paper argues that, in Western societies, and those intellectually influenced by them, major currents of Marxism have lacked precisely such an understanding.”
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“After Physiocracy, it was united in considering labour the source of value.”
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“They denied outright any theoretical relation between capitalism and imperialism, leading to a relative neglect of this nexus at least until 'empire' became prominent in the Bush government's discourse in the 2000s.”
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In the paper
“No wonder then that, over the past century and more, Marxists have either reduced or denied the revolutionary significance of national struggles against imperialism, or they have articulated solidarity with them only in eclectic Marxist terms.”
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“These positions have inevitably redounded to the benefit of capitalism's imperial core. Witness, for instance, the support of important parts of the Marxist left in the West for Western military interventions in the Third World in the name of democracy and human rights today.”
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“About 1870, three years after the publication of Capital , Carl Menger in Austria, Leon Walras in Switzerland and Stanley Jevons in Britain independently distilled the spontaneous consciousness of the bourgeoisie into a systematic apologia for capitalism.”
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“No wonder also that the matter of nations had already split Marxism on the eve of the First World War.”
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“Marx also exposed the limitations of such Ricardian socialism and, by the late nineteenth century, European working classes were marching under the banner of Marxism.”
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“Marx never abandoned this frame.”
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“Given that, throughout the history of capitalism, such state management of its contradictions, such as its tendency to overproduce commodities and capital, has involved imperialism, this also meant that their conception of capitalism was untainted by imperialism.”
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“Marx resolved classical political economy's key problems and antinomies. He identified the source of surplus value by distinguishing labour and labour power. He operationalised the law of value by showing how competition pushed values down to their 'socially necessary' level. And he resolved Ricardo's difficulties with labour values, differing proportions of labour and capital and equal profit”
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“Later, others, whom we know today as 'Political Marxists' , opposed such eclecticism as 'Smithian' . They resorted to a 'pure' , 'purely economic' and therefore contradiction-free Ricardian conception of capitalism above any need of state management of its contradictions.”
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“Hilferding defended Marxism against the latter work in 1904, covering Marx's concept of value and his understanding of the equalisation of rates of profit though a process, 25 and challenging the subjectivism of Böhm-Bawerk and neoclassical economics.”
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“Classical political economy, even in its Ricardian form, had produced socialist currents because Ricardo insisted on the labour origin of value, implying that incomes other than wages were unearned.”
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“Neoclassical economics reached over Marx to Ricardo - not the Ricardo who insisted on the labour origin of value but the Ricardo who accepted Say's Law 18 and conjured up comparative advantage.”
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“Born of the so-called Marginalist Revolution circa 1870, this intellectual counterrevolution was fomented against classical political economy, which Marx's critique had recently brought to its culmination.”
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“Classical political economy analysed capitalist society. Neoclassical economics detached something called 'the economy' from it.”
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“With regard to capitalism, the 'objective function' of neoclassical economics 'was … purely apologetic - to justify the capitalist order as more or less inevitable; to justify wages, prices and profits as the result of exchanges carried out on an equal footing' . 16”
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“Michael Tugan-Baranovsky, the Russian Legal Marxist, had proposed as early as 1890 that neoclassical economics and Marxism could be reconciled. 28 This 'policy of theoretical conciliation' , as Bukharin called it, 29 won the day.”
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“Bukharin's Economic Theory of the Leisure Class (finished 1914, published 1919) memorably saw the latter as an 'economic theory of the leisure class' eliminated from production, given to an anomic individualism and psychologism and fearful of revolution. 26”
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In the paper
“Denying historical change, as neoclassical economics and with it the social sciences generally do (as betrayed in the pervasive use of the simple present tense in them - parties do this, unemployment does that, as if things never change over space and time). They can understand neither capitalism nor its revolutionary historical dynamic.”
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“Max Weber justified this, arguing that modernity separated different spheres of social action and each needed separate study.”
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“Nevertheless, revolution, a transcendence of the social order of capitalism, framed Marx's analysis of capitalism from the outset.”
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“Finally, classical political economy's historical approach was replaced by an ahistorical one.”
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“However, their defeat impressed on Marx and Engels the staying power of capitalism and turned Marx to the lifelong engagement with classical political economy that issued in the penetrating (if also incomplete) historical materialist analysis of capitalism as contradictory value production. 1”
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In the paper
“These revolutions did not take place, as expected, in the most advanced capitalist countries as revolutions of an 'internationalist' working class against capitalist exploitation. Rather, they erupted in the 'backward' regions of Europe and then of the Third World.”
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“In classical political economy, value originated in labour and operated, through competition, to push prices towards the cost of the socially necessary labour commodities embodied. In neoclassical economics, the subjective satisfactions commodities gave individuals, dubbed 'utility' in early versions, determined demand and prices were formed by its interaction with supply.”
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“Marx's conception of capitalism was doubly historical. First, capitalism was not eternal but a historically specific mode of production. Second, being contradictory, and therefore inherently volatile and unstable, it was historically dynamic, its contradictions hurtling it to its doom.”
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In the paper
“They were revolutions against imperialism as well as capitalism. They featured national as well as class struggles.”
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“Classical political economy focused on production (without neglecting exchange), neoclassical economics on consumption and exchange alone.”
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“This Ricardian tradition emerged from its early confinement to debates among 'Marxist economists' with Robert Brenner's famous 'The Origins of Capitalist Development' (1977).”
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Probably not a substantial claim. The paper’s conclusions may not depend on it. The paper may give no reason why it holds.
None of the sources cited for this claim could be matched to a paper in Crossref, so there is nothing to check it against.
In the paper
“These were, of course, false problems: the transformation problem was Ricardo's, not Marx's; Marx insisted that 'The ultimate reason for all crises remains the poverty and restricted consumption of the masses' 31 ; and the case against the TRPF was a fallacy of composition since Marx had argued precisely that individual rationalities led, at the social level, to this perverse result. 32”
What the sources say
- Not matchedcites [31]
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- Not matchedcites [32]
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plaindirect- Asserted: passes — The authors put it forward as true.
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In the paper
“We may recall that Lenin relied on the Legal Marxist case in his Development of Capitalism in Russia to claim that not only could capitalism develop in the Russian countryside, it was already doing so (a point which was later found to have been greatly exaggerated). 38”
What the sources say
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hedgeddirect- Asserted: passes — The authors put it forward as true.
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The paper states this without a source or data behind it here, so there is nothing to check it against. The quote shows it is in the paper.
In the paper
“how expanding markets for imperial products deindustrialised colonies”
plaindirect- Asserted: passes — The authors put it forward as true.
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In the paper
“'many European Marxists accused American Marxism of being tainted with 'third worldism'' , the belief that 'advanced capitalism had manipulated its internal class contradictions to a point where the only effective challenge that could be launched against it …. was in the periphery. Monthly Review had a more or less similar position' . 54”
What the sources say
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In the paper
“This modified the official position. Imperialist benefits obstructed revolution in the west; communists should support revolutionary bourgeois nationalist movements; and, in certain circumstances, backward countries could achieve communism directly. 51”
What the sources say
- Not matchedcites [51]
Couldn’t be matched to a paper in Crossref, so it can’t be checked.
plaindirect- Asserted: passes — The authors put it forward as true.
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In the paper
“they reinforced the false impression that the middle decades of the nineteenth century were not imperialist (which was conclusively refuted by Gallagher and Robinson 48 ).”
What the sources say
- Not matchedcites [48]
Couldn’t be matched to a paper in Crossref, so it can’t be checked.
boosteddirect- Asserted: passes — The authors put it forward as true.
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In the paper
“First, it held that while imperialism 'can and does happen and it does aid capitalist accumulation … it is not required by the logic of capitalism' . 75”
What the sources say
- Not matchedcites [75]
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plaindirect- Asserted: passes — The authors put it forward as true.
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The paper states this without a source or data behind it here, so there is nothing to check it against. The quote shows it is in the paper.
In the paper
“how imperialism supported the power of unproductive elites incapable of developing productive capacities”
plaindirect- Asserted: passes — The authors put it forward as true.
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In the paper
“Such positions could even lead to the thesis that imperialism was a 'pioneer of capitalism' , as Bill Warren 76 put it.”
What the sources say
- Not matchedcites [76]
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In the paper
“By 1916, his recognition of the centrality of national revolutions against imperialism in the unfolding of world revolution against capital had resulted in the tripartite division of the world into the imperial, backward and colonial and semi-colonial countries, to evolve distinct political strategies for each.”
plaindirect- Asserted: passes — The authors put it forward as true.
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It may state two separate claims as one.
In the paper
“So faithfully was it reflected that, as Prabhat Patnaik recalled, until the 1970s, 'imperialism occupied perhaps the most prominent place in any Marxist discussion' , particularly in the US.”
What the sources say
- Not matchedcites [54]
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In the paper
“This work, later elaborated by others, pre-eminently Ian Steedman, 63 resulted in an explicitly Ricardian Marxism tracing its roots to an allegedly single 'Ricardo-Marx approach to the problems of value and of distribution' . 64”
What the sources say
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- Not matchedcites [64]
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In the paper
“However, at the same time, Sweezy took a position close to Tugan-Baranovsky's on the falling rate of profit 56 and continued the tradition of regarding Marx's analysis as suffering from a 'transformation' problem.”
What the sources say
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plaincorrelational- Asserted: passes — The authors put it forward as true.
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The paper states this without a source or data behind it here, so there is nothing to check it against. The quote shows it is in the paper.
In the paper
“Monthly Review produced rich and insightful analyses of imperialism - particularly American - of its militarism, its wars, its corporations and surplus transfer, its history and resistance to it. It gave rise to dependency theory and world systems analysis.”
plaindirect- Asserted: passes — The authors put it forward as true.
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Probably not a substantial claim. The paper’s conclusions may not depend on it. The paper may give no reason why it holds. It may state two separate claims as one.
A conclusion the paper draws from its own results — it cites no other source for it, so there is none to check. The quote shows it is in the paper.
In the paper
“Whereas Sweezy and his ilk considered the demand problem a manageable one, the Ricardian Marxists did not consider it a problem at all.”
plain- Asserted: passes — The authors put it forward as true.
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In the paper
“Rosa Luxemburg saw clearly that the Legal Marxists were smuggling in Say's Law through the Vol. II back door. Their victory over the populists, she argued, had been 'rather too thorough':”
What the sources say
- Not matchedcites [34]
Couldn’t be matched to a paper in Crossref, so it can’t be checked.
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In the paper
“In line with the idea of comparative advantage, they believed that Third World attempts at autonomous development prompted by theories of underdevelopment were dangerous because they ignored 'the degree to which any significant national development of the productive forces depends today upon a close connection with the international division of labour' . 67”
What the sources say
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plaindirect- Asserted: passes — The authors put it forward as true.
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In the paper
“Whereas imperialism had been central to Marxism until the 1970s, it was 'obviously not the case' thereafter, Patniak noted in the early 1990s. The topic had 'virtually disappeared from the pages of Marxist journals, especially of a later vintage'”
What the sources say
- Not matchedcites [62]
Couldn’t be matched to a paper in Crossref, so it can’t be checked.
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In the paper
“This sort of Marxist economics contributed to the positivistic and economistic turn of the 'Marxism of the Second International' 45 and to its inattention to national questions.”
What the sources say
- Not matchedcites [45]
Couldn’t be matched to a paper in Crossref, so it can’t be checked.
plaindirect- Asserted: passes — The authors put it forward as true.
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In the paper
“However, her arguments were dismissed without 'confronting Luxemburg's theory in its full integrity' 35 because TuganBaranovsky's position had become widely shared.”
What the sources say
- Not matchedcites [35]
Couldn’t be matched to a paper in Crossref, so it can’t be checked.
plaindirect- Asserted: passes — The authors put it forward as true.
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In the paper
“Ernest Mandel 70 rejected and contested all the main claims at issue - the 'transformation problem' , the dismissal of demand problems and the TRPF.”
What the sources say
- Not matchedcites [70]
Couldn’t be matched to a paper in Crossref, so it can’t be checked.
plain- Asserted: passes — The authors put it forward as true.
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In the paper
“Since, following (the 'bastard') Keynes, Sweezy regarded the demand problem as soluble through demand management, 57 he can be said to have sported, if not a contradiction-free conception of capitalism, one in which its contradictions could be managed.”
What the sources say
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plaindirect- Asserted: passes — The authors put it forward as true.
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In the paper
“and Henryk Grossman, who also neglected the issue of capitalism's demand deficit and inaugurated the tradition of believing that the TRPF is the only or the most fundamental cause of crisis, 44 could be considered another pioneer.”
What the sources say
- Not matchedcites [44]
Couldn’t be matched to a paper in Crossref, so it can’t be checked.
hedgeddirect- Asserted: passes — The authors put it forward as true.
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In the paper
“Disciplinary Marxisms, themselves unaware of the distance of their partial and ahistorical visions from Marx, have flourished and have tended to take the word of Marxist economists when it comes to understanding Marx's 'economics' . 74”
What the sources say
- Not matchedcites [74]
Couldn’t be matched to a paper in Crossref, so it can’t be checked.
plaincorrelational- Asserted: passes — The authors put it forward as true.
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In the paper
“which demonstrates that, provided prices and values are seen to constitute a single system and input and output prices as being determined not simultaneously but separated in time, there is no transformation problem.”
What the sources say
- Not matchedcites [72]
Couldn’t be matched to a paper in Crossref, so it can’t be checked.
boosteddirect- Asserted: passes — The authors put it forward as true.
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A conclusion the paper draws from its own results — it cites no other source for it, so there is none to check. The quote shows it is in the paper.
In the paper
“Implacably opposed to Keynesianism as 'reformist' , they can be said to have erected a virtually neoliberal conception of 'pure' 'economic' capitalism without contradictions.”
plaindirect- Asserted: passes — The authors put it forward as true.
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In the paper
“In particular, Sweezy did not dismiss demand problems. Indeed, against the neoclassical stress on consumer choice, he justified Marx's position on the matter of consumer demand on two counts. First, he pointed out that for Marx, 'under capitalism effective demand is only partly a question of consumers' wants. Even more important is the basic question of income distribution' . Second, in this”
What the sources say
- Not matchedcites [55]
Couldn’t be matched to a paper in Crossref, so it can’t be checked.
plain- Asserted: passes — The authors put it forward as true.
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The paper states this without a source or data behind it here, so there is nothing to check it against. The quote shows it is in the paper.
In the paper
“Luxemburg's argument in The Accumulation of Capital that a 'purely capitalist' society consisting only of capitalists and workers could not be self-contained, and needed non-capitalist spheres to export excess production to, relied on considering demand deficits a major contradiction of capitalism.”
plaindirect- Asserted: passes — The authors put it forward as true.
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A conclusion the paper draws from its own results — it cites no other source for it, so there is none to check. The quote shows it is in the paper.
In the paper
“Long ignored, TSSI is now garnering attention and will help those who accepted that Marx had a transformation problem in finding their way to a better understanding of Marx.”
plaindirect- Asserted: passes — The authors put it forward as true.
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A conclusion the paper draws from its own results — it cites no other source for it, so there is none to check. The quote shows it is in the paper.
In the paper
“However, this attention to imperialism was based on a rather eclectic version of Marxism, blended with Keynesianism, not Marx's analysis of capitalism as value production.”
plaindirect- Asserted: passes — The authors put it forward as true.
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In the paper
“Lenin, for instance, declared, even before reading the book, that considering 'the realization of surplus-value … possible also in a ' purely capitalist' society' was the 'theoretically correct' position. 36”
What the sources say
- Not matchedcites [36]
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In the paper
“Rather, Patnaik attributed the 'theoretically unself-conscious' silence to 'the very strengthening and consolidation of imperialism' after Vietnam. 62”
What the sources say
- Not matchedcites [62]
Couldn’t be matched to a paper in Crossref, so it can’t be checked.
plaindirect- Asserted: passes — The authors put it forward as true.
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A conclusion the paper draws from its own results — it cites no other source for it, so there is none to check. The quote shows it is in the paper.
In the paper
“This Ricardian Marxism was even more prey to the Ricardian fictions, Say's Law and comparative advantage.”
plaindirect- Asserted: passes — The authors put it forward as true.
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A conclusion the paper draws from its own results — it cites no other source for it, so there is none to check. The quote shows it is in the paper.
In the paper
“However, its analysis dispensed with Marx's analysis of capitalism as value production and was based on a conception of a capitalism which was, if not free of contradictions, at least free of unmanageable ones.”
plain- Asserted: passes — The authors put it forward as true.
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A conclusion the paper draws from its own results — it cites no other source for it, so there is none to check. The quote shows it is in the paper.
In the paper
“Soon dubbed 'Political Marxism' , this tradition rightly emphasised class relations and struggle, the role of force, and the realm of production.”
plain- Asserted: passes — The authors put it forward as true.
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Probably not a substantial claim. The paper’s conclusions may not depend on it. The paper may give no reason why it holds. It may state two separate claims as one.
A conclusion the paper draws from its own results — it cites no other source for it, so there is none to check. The quote shows it is in the paper.
In the paper
“Disciplinary Marxisms, themselves unaware of the distance of their partial and ahistorical visions from Marx”
plain- Asserted: passes — The authors put it forward as true.
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In the paper
“These developments replaced the Eurocentrism of the Second International with the Third International's focus on imperial and colonial questions, and from here into the 1970s, the comprehensive 'revolt against the West' 53 that defined the twentieth century was faithfully reflected in Marxism.”
What the sources say
- Not matchedcites [53]
Couldn’t be matched to a paper in Crossref, so it can’t be checked.
plaindirect- Asserted: passes — The authors put it forward as true.
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A conclusion the paper draws from its own results — it cites no other source for it, so there is none to check. The quote shows it is in the paper.
In the paper
“They denatured Marx's analysis and denied the 'materiality of nations' in managing capitalism's contradictions through domestic and international (imperial) actions.”
plaindirect- Asserted: passes — The authors put it forward as true.
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In the paper
“This view was part of a general denial of capitalism's demand deficit: Tugan-Baranovsky also argued that Marx's criticism of Say's Law was wrong and initiated the trend of using the reproduction schemas of Capital , Vol. II, to argue that only disproportions between sectors caused crises in capitalism. 33”
What the sources say
- Not matchedcites [33]
Couldn’t be matched to a paper in Crossref, so it can’t be checked.
plaindirect- Asserted: passes — The authors put it forward as true.
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A conclusion the paper draws from its own results — it cites no other source for it, so there is none to check. The quote shows it is in the paper.
In the paper
“However, while the concept of imperialism was not challenged theoretically, the conception of capitalism whose development we have been tracking matured to have the same effect as a theoretical challenge.”
plaindirect- Asserted: passes — The authors put it forward as true.
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Probably not a substantial claim.
The paper states this without a source or data behind it here, so there is nothing to check it against. The quote shows it is in the paper.
In the paper
“However, Hilferding, Bukharin and Lenin focused on the imperial countries and on their competition for colonies and linked it, not to an inherent imperialism of capitalism, but to a specific stage in its development.”
plaincorrelational- Asserted: passes — The authors put it forward as true.
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In the paper
“First, no one familiar with Marx's advance beyond Ricardo's understanding of value 68 can assimilate the two.”
What the sources say
- Not matchedcites [68]
Couldn’t be matched to a paper in Crossref, so it can’t be checked.
plain- Asserted: passes — The authors put it forward as true.
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The paper states this without a source or data behind it here, so there is nothing to check it against. The quote shows it is in the paper.
In the paper
“However, it also argued, in a Schumpeterian rather than Marxist vein, that capitalism would develop the forces of production unceasingly.”
plaindirect- Asserted: passes — The authors put it forward as true.
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In the paper
“In it, he accused the Monthly Review , dependency and world systems traditions of being 'Smithian' . They had, he felt, trade- and circulation-based understandings of the origin and spread of capitalism”
What the sources say
- Not matchedcites [65]
Couldn’t be matched to a paper in Crossref, so it can’t be checked.
plain- Asserted: passes — The authors put it forward as true.
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- Not matched
The paper states this without a source or data behind it here, so there is nothing to check it against. The quote shows it is in the paper.
In the paper
“The Russian Legal Marxists (who published legally while the revolutionary Marxists could not) had taken on the Narodnik argument that capitalism could not develop in Russia because its market was too limited, by arguing that capitalism would make its own market as previously self-sufficient peasants demanded more commodities.”
plaindirect- Asserted: passes — The authors put it forward as true.
- Checkable: passes — It can be checked against evidence.
- Load-bearing: fails — The paper’s conclusions may not depend on it.
- Based: passes — The paper gives a reason why it holds.
Probably not a substantial claim. The paper’s conclusions may not depend on it.
None of the sources cited for this claim could be matched to a paper in Crossref, so there is nothing to check it against.
In the paper
“Noting his 'curious conception of a system of production for production's sake' in which lack of demand could not possibly be a problem, 41 Hilferding nevertheless insists that if this is 'madness' there is method in it, and a Marxist one at that, for it is just this analysis of the specific historical structure of capitalist production which is distinctively Marxist. It is Marxism gone mad, but”
What the sources say
- Not matchedcites [40]
Couldn’t be matched to a paper in Crossref, so it can’t be checked.
- Not matchedcites [41]
Couldn’t be matched to a paper in Crossref, so it can’t be checked.
- Not matchedcites [42]
Couldn’t be matched to a paper in Crossref, so it can’t be checked.
plain- Asserted: passes — The authors put it forward as true.
- Checkable: passes — It can be checked against evidence.
- Load-bearing: unclear — It is unclear whether the paper’s conclusions depend on it.
- Based: passes — The paper gives a reason why it holds.
It may state two separate claims as one.
- Not matched
A conclusion the paper draws from its own results — it cites no other source for it, so there is none to check. The quote shows it is in the paper.
In the paper
“The conception of capitalism promoted by Marxist economics is influential far beyond its boundaries thanks to the Weberian social scientific division of labour.”
plaindirect- Asserted: passes — The authors put it forward as true.
- Checkable: passes — It can be checked against evidence.
- Load-bearing: fails — The paper’s conclusions may not depend on it.
- Based: fails — The paper may give no reason why it holds.
Probably not a substantial claim. The paper’s conclusions may not depend on it. The paper may give no reason why it holds.
The paper states this without a source or data behind it here, so there is nothing to check it against. The quote shows it is in the paper.
In the paper
“By the time he came to write, with Paul Baran, his most important work, Monopoly Capital , Sweezy had simply dispensed with Marx's value analysis and worked with other eclectically devised categories such as 'surplus' .”
plain- Asserted: passes — The authors put it forward as true.
- Checkable: passes — It can be checked against evidence.
- Load-bearing: unclear — It is unclear whether the paper’s conclusions depend on it.
- Based: passes — The paper gives a reason why it holds.
It may state two separate claims as one.
In the paper
“With any self-destruction of capitalism due to its contradictions ruled out, Sweezy believed its demise might occur thanks to the increasing attractive power of a productively superior socialism. 58”
What the sources say
- Not matchedcites [58]
Couldn’t be matched to a paper in Crossref, so it can’t be checked.
hedgedconditional- Asserted: passes — The authors put it forward as true.
- Checkable: passes — It can be checked against evidence.
- Load-bearing: fails — The paper’s conclusions may not depend on it.
- Based: passes — The paper gives a reason why it holds.
Probably not a substantial claim. The paper’s conclusions may not depend on it.
- Not matched
A conclusion the paper draws from its own results — it cites no other source for it, so there is none to check. The quote shows it is in the paper.
In the paper
“Most Legal Marxists eventually drifted away from Marxism but not before they had shunted Marxism onto the wrong track of 'Marxist economics' .”
plaindirect- Asserted: passes — The authors put it forward as true.
- Checkable: passes — It can be checked against evidence.
- Load-bearing: passes — The paper’s conclusions depend on it.
- Based: unclear — It is unclear why the paper says it holds.
It may state two separate claims as one.
In the paper
“'Oppressed nationalities' of the future USSR helped them win the civil war, and national struggles in Asia relieved imperialist pressure on the revolution. 50”
What the sources say
- Not matchedcites [50]
Couldn’t be matched to a paper in Crossref, so it can’t be checked.
plaindirect- Asserted: passes — The authors put it forward as true.
- Checkable: passes — It can be checked against evidence.
- Load-bearing: unclear — It is unclear whether the paper’s conclusions depend on it.
- Based: passes — The paper gives a reason why it holds.
It may state two separate claims as one.
- Not matched
A conclusion the paper draws from its own results — it cites no other source for it, so there is none to check. The quote shows it is in the paper.
In the paper
“And large parts of the left had been left susceptible to the dominant discourse of Western imperialism today.”
plaindirect- Asserted: passes — The authors put it forward as true.
- Checkable: fails — It may be too vague to check against evidence.
- Load-bearing: passes — The paper’s conclusions depend on it.
- Based: fails — The paper may give no reason why it holds.
Probably not a substantial claim. It may be too vague to check against evidence. The paper may give no reason why it holds.
In the paper
“No wonder Marxists in the west have been so credulous of the cosmopolitan ideologies of 'globalisation' and 'empire' which also debilitate Marxist international relations. 87”
What the sources say
- Not matchedcites [87]
Couldn’t be matched to a paper in Crossref, so it can’t be checked.
plaindirect- Asserted: passes — The authors put it forward as true.
- Checkable: passes — It can be checked against evidence.
- Load-bearing: unclear — It is unclear whether the paper’s conclusions depend on it.
- Based: passes — The paper gives a reason why it holds.
It may state two separate claims as one.
- Not matched
A conclusion the paper draws from its own results — it cites no other source for it, so there is none to check. The quote shows it is in the paper.
In the paper
“Either the world economy is considered a single whole in which national economies do not matter, or the core countries are taken to stand in for it.”
plain- Asserted: passes — The authors put it forward as true.
- Checkable: passes — It can be checked against evidence.
- Load-bearing: passes — The paper’s conclusions depend on it.
- Based: fails — The paper may give no reason why it holds.
Probably not a substantial claim. The paper may give no reason why it holds. It may state two separate claims as one.
A conclusion the paper draws from its own results — it cites no other source for it, so there is none to check. The quote shows it is in the paper.
In the paper
“It treated the necessary connection between capitalism and imperialism in eclectically Marxist or non-Marxist terms or denied it.”
plain- Asserted: passes — The authors put it forward as true.
- Checkable: passes — It can be checked against evidence.
- Load-bearing: passes — The paper’s conclusions depend on it.
- Based: unclear — It is unclear why the paper says it holds.
It may state two separate claims as one.
A conclusion the paper draws from its own results — it cites no other source for it, so there is none to check. The quote shows it is in the paper.
In the paper
“Finally, theoretical difficulties with nations and imperialism leave such Marxism with a rather limited, even vague, conception of revolution.”
plaindirect- Asserted: passes — The authors put it forward as true.
- Checkable: fails — It may be too vague to check against evidence.
- Load-bearing: passes — The paper’s conclusions depend on it.
- Based: fails — The paper may give no reason why it holds.
Probably not a substantial claim. It may be too vague to check against evidence. The paper may give no reason why it holds.
A conclusion the paper draws from its own results — it cites no other source for it, so there is none to check. The quote shows it is in the paper.
In the paper
“And it is perhaps a sign of its renewed weakening that discussion of imperialism is expanding.”
hedgedconditional- Asserted: passes — The authors put it forward as true.
- Checkable: fails — It may be too vague to check against evidence.
- Load-bearing: fails — The paper’s conclusions may not depend on it.
- Based: fails — The paper may give no reason why it holds.
Probably not a substantial claim. It may be too vague to check against evidence. The paper’s conclusions may not depend on it. The paper may give no reason why it holds.
A conclusion the paper draws from its own results — it cites no other source for it, so there is none to check. The quote shows it is in the paper.
In the paper
“If Patnaik's apprehension that discussions of imperialism among Marxists had declined because imperialism had strengthened in the 1980s is correct, it would follow that they had flourished during the immediate post-war period of decolonisation because imperialism had been weakened.”
hedgedconditional- Asserted: fails — The authors may not put it forward as true.
- Checkable: passes — It can be checked against evidence.
- Load-bearing: fails — The paper’s conclusions may not depend on it.
- Based: fails — The paper may give no reason why it holds.
Probably not a substantial claim. The authors may not put it forward as true. The paper’s conclusions may not depend on it. The paper may give no reason why it holds. It may state two separate claims as one.
In the paper
“After initially doing so in response to the ubiquity of the word 'empire' in the Bush Jr administration's discourse, it now has a critical logic of its own. 88”
What the sources say
- Not matchedcites [88]
Couldn’t be matched to a paper in Crossref, so it can’t be checked.
plaindirect- Asserted: passes — The authors put it forward as true.
- Checkable: passes — It can be checked against evidence.
- Load-bearing: unclear — It is unclear whether the paper’s conclusions depend on it.
- Based: passes — The paper gives a reason why it holds.
It may state two separate claims as one.
- Not matched
A conclusion the paper draws from its own results — it cites no other source for it, so there is none to check. The quote shows it is in the paper.
In the paper
“The opportunity to build intellectually powerful and theoretically consistent understandings of the capitalist world and the key contradictions that drive its international relations, provoking resistance and revolutions, is lost.”
plain- Asserted: passes — The authors put it forward as true.
- Checkable: fails — It may be too vague to check against evidence.
- Load-bearing: passes — The paper’s conclusions depend on it.
- Based: passes — The paper gives a reason why it holds.
Probably not a substantial claim. It may be too vague to check against evidence.
A conclusion the paper draws from its own results — it cites no other source for it, so there is none to check. The quote shows it is in the paper.
In the paper
“Finally, without an appreciation of the benefits western societies enjoy thanks to their privileged position in the international hierarchy that is the world economy, such a Marxism cannot conceive of how to deal with forsaking them as any socialism must, or with losing them through anti-imperialist advances elsewhere.”
plaindirect- Asserted: passes — The authors put it forward as true.
- Checkable: fails — It may be too vague to check against evidence.
- Load-bearing: passes — The paper’s conclusions depend on it.
- Based: fails — The paper may give no reason why it holds.
Probably not a substantial claim. It may be too vague to check against evidence. The paper may give no reason why it holds.
The paper states this without a source or data behind it here, so there is nothing to check it against. The quote shows it is in the paper.
In the paper
“how colonies became a labour reserve from which to draw semi-free labour”
plaindirect- Asserted: passes — The authors put it forward as true.
- Checkable: passes — It can be checked against evidence.
- Load-bearing: fails — The paper’s conclusions may not depend on it.
- Based: fails — The paper may give no reason why it holds.
Probably not a substantial claim. The paper’s conclusions may not depend on it. The paper may give no reason why it holds.
A conclusion the paper draws from its own results — it cites no other source for it, so there is none to check. The quote shows it is in the paper.
In the paper
“Without a non-capitalist way to build productive capacity, it has shackled itself to capitalism in perpetuity and has, by its own lights, no way out of it.”
plaindirect- Asserted: passes — The authors put it forward as true.
- Checkable: unclear — It is unclear whether it could be checked against evidence.
- Load-bearing: passes — The paper’s conclusions depend on it.
- Based: unclear — It is unclear why the paper says it holds.
It may state two separate claims as one.
A conclusion the paper draws from its own results — it cites no other source for it, so there is none to check. The quote shows it is in the paper.
In the paper
“For it has left the task of developing the forces of production to capitalism on the erroneous Schumpeterian grounds that it alone can do so and, indeed, does so, perpetually and prodigiously.”
plaindirect- Asserted: passes — The authors put it forward as true.
- Checkable: fails — It may be too vague to check against evidence.
- Load-bearing: passes — The paper’s conclusions depend on it.
- Based: fails — The paper may give no reason why it holds.
Probably not a substantial claim. It may be too vague to check against evidence. The paper may give no reason why it holds.
A conclusion the paper draws from its own results — it cites no other source for it, so there is none to check. The quote shows it is in the paper.
In the paper
“Major currents of Marxism have been unable to understand imperialism and national anti-imperialist resistance in consonance with Marx's analysis of capitalism as contradictory value production for more than a century because of a 'policy of theoretical conciliation' between Marx's value analysis and neoclassical economics and the resultant emergence of a 'Marxist Economics' .”
plaindirect- Asserted: passes — The authors put it forward as true.
- Checkable: fails — It may be too vague to check against evidence.
- Load-bearing: passes — The paper’s conclusions depend on it.
- Based: fails — The paper may give no reason why it holds.
Probably not a substantial claim. It may be too vague to check against evidence. The paper may give no reason why it holds. It may state two separate claims as one.
In the paper
“how constraining Third World consumption relieves upward pressure on commodity prices and secures the value of western monies; 79”
What the sources say
- Not matchedcites [79]
Couldn’t be matched to a paper in Crossref, so it can’t be checked.
plaindirect- Asserted: passes — The authors put it forward as true.
- Checkable: passes — It can be checked against evidence.
- Load-bearing: unclear — It is unclear whether the paper’s conclusions depend on it.
- Based: passes — The paper gives a reason why it holds.
It may state two separate claims as one.
- Not matched
A conclusion the paper draws from its own results — it cites no other source for it, so there is none to check. The quote shows it is in the paper.
In the paper
“Moreover, having dispensed with the notion of contradiction, Western Marxism relies on (western) working-class mobilisation alone to magically overcome a capitalism assumed to be all-powerful, worldwide and eternal.”
plaindirect- Asserted: passes — The authors put it forward as true.
- Checkable: passes — It can be checked against evidence.
- Load-bearing: passes — The paper’s conclusions depend on it.
- Based: fails — The paper may give no reason why it holds.
Probably not a substantial claim. The paper may give no reason why it holds. It may state two separate claims as one.
Self-check
Percentages, sums and reported differences re-computed from the paper’s own numbers.
Each contradiction between two passages listed here was confirmed by an independent check.
Rated minor: it would not touch a result — a value no result rests on, a p-value that stays on the same side of the significance level, or a conflict that is clerical, resolved elsewhere in the paper, or outside its own findings.
In the paper
§ Post-war 'Smithian' and Keynesian Marxism · p. 10
“In his encyclopaedic introduction to Marx's political economy, The Theory of Capitalist Development , in 1941, Sweezy recognised”
§ Notes · p. 19
“Sweezy, Paul. The Theory of Capitalist Development: Principles of Marxian Political Economy . London: Dennis Dobson, (1942) 1946.”
Citations
Cites
Imagined Communities. Reflections on the Origin and Spread of Nationalism
Reid, A. J. S. (1985) · Pacific Affairs · doi:10.2307/2759245 · Cited by 25,964
The General Theory of Employment, Interest and Money.
F., A. W., & Keynes, J. M. (1936) · Journal Of The Royal Statistical Society · doi:10.2307/2980590 · Cited by 12,563
Selections from the Prison Notebooks
Gramsci, A. (2007) · Duke University Press eBooks · doi:10.2307/j.ctv120qr2d.14 · Cited by 6,401
The General Theory of Employment, Interest and Money, by John Maynard Keynes
Beckhart, B. H. (1936) · Political Science Quarterly · doi:10.2307/2143949 · Cited by 6,341
Imagined Communities: Reflections on the Origin and Spread of Nationalism
Wilson, G. M., & Anderson, B. (1985) · The American Historical Review · doi:10.1086/ahr/90.4.903 · Cited by 2,457
Kicking away the ladder: development strategy in historical perspective
(2003) · Choice Reviews Online · doi:10.5860/choice.40-2893 · Cited by 2,020
GALLAGHER, J., & Robinson, R. (1953) · The Economic History Review · doi:10.1111/j.1468-0289.1953.tb01482.x · Cited by 1,740
Kicking Away the Ladder: Development Strategy in Historical Perspective
Venn, F. (2017) · The SHAFR Guide Online · doi:10.1163/2468-1733_shafr_sim280020467 · Cited by 1,599
Slobodian, Q. (2018) · Harvard University Press eBooks · doi:10.4159/9780674919808 · Cited by 1,380
Luxemburg, R. (2010) · Routledge eBooks · doi:10.4324/9780203361863 · Cited by 1,347
Research works printed but not linked: 30
- Anderson Perry., 1968, New Left Review, 50, 3
- Anderson Perry., 1990, New Left Review, 180, 42
- Anderson Perry., 1990, New Left Review, 182, 85
- Blackburn Robin., 1991, New Left Review, 185, 5
- Brenner Robert., 1998, New Left Review, 229, 1
- Brenner Robert., 1977, New Left Review, 104, 25
- Colletti Lucio., 1972, From Rousseau to Lenin: Studies in Ideology
- Cope Zak., 2012, Divided World, Divided Class
- Desai Radhika., 2009, Bankruptcies and Bailouts, 123
- Desai Radhika., 2009, The Asia-Pacific Journal, 11, 1
- 10.1086/ahr/108.3.906 · DOI
- Freeman Alan., 2012, Journal of Australian Political Economy, 70, 167
- Joll James., 1955, The Second International
- Kliman Andrew., 2007, Reclaiming Marx’s Capital: A Refutation of the Myth of Inconsistency
- Lenin V. I., 1923, Collected Works, 33, 487
- Lewin Moshe., Russia/USSR/Russia: The Drive and Drift of a Superstate
- Mandel Ernest., 1978, Capital, 11
- Mandel Ernest., 1981, Capital, 9
- Mandel Ernest., 1972, Late Capitalism
- Marx Karl., Capital
- Marx Karl., Capital
- Marx Karl., Theories of Surplus Value
- Marx Karl., Theories of Surplus Value
- Patnaik Prabhat., 2003, Whatever Happened to Imperialsim? in Whatever Happened to Imperialism and Other Essays
- Patnaik Utsa., The Pioneers of Development Economics, 31
- Patnaik Utsa., 2006, Globalization under Hegemony
- Sardoni C., 1997, A ‘Second Edition’ of the General Theory, 261
- Sweezy Paul., 1949, Karl Marx and the Close of His System
- Tönnies Ferdinand., 1957, Gemeinschaft und Gesellschaft [Community and Society]
- Williams G., 1987, Marx: 100 Years On, 11
Cited by
Sorted by citations
Capitalism, Coronavirus and War
Desai, R. (2022) · Routledge eBooks · doi:10.4324/9781003200000 · Cited by 15
Self-citationHosseini, S. A. H., & Gills, B. K. (2023) · Routledge eBooks · doi:10.4324/9781003340386 · Cited by 11
Marx’s geopolitical economy: ‘The relations of producing nations’
Desai, R. (2021) · Capital & Class · doi:10.1177/03098168211017433 · Cited by 7
Self-citationChen, D. (2022) · Third World Quarterly · doi:10.1080/01436597.2022.2062321 · Cited by 4
DeepSeek Upends Silicon Valley’s Sci-Fin-Fi Business Model
Desai, R. (2025) · International Critical Thought · doi:10.1080/21598282.2025.2579900 · Cited by 3
Self-citation
Metadata
- Authors
- Desai, R.
- Affiliations
- University of Manitoba (CA)
- Corresponding author
- Desai, Radhika
- ORCID
- Desai, Radhika
- Venue
- Third World Quarterly
- Publisher
- Informa UK Limited
- Published
- 2020-04-18
- Volume
- 41
- Issue
- 8
- Pages
- 1353-1370
- ISSN
- 0143-6597 (ISSN-L)
- 1360-2241
- OpenAlex
- W3017385499
- Cited by
- 14
- References
- 81
- Citations by year
- 2025: 1 · 2024: 2 · 2023: 3 · 2022: 2 · 2021: 3 · 2020: 3
- FWCI
- 3.27
- Type
- journal article
- Language
- en
- Open access
- closed
- Locations
- Third World Quarterly (publishedVersion)
- RePEc: Research Papers in Economics (submittedVersion)
- Topics
- Social Sciences › Sociology and Political Science › Political Economy and Marxism
- Social Sciences › Arts and Humanities › Philosophy › Marxism and Critical Theory
- Social Sciences › Sociology and Political Science › Political theory and Gramsci
- Keywords
- Marxian economics, value production, contradictions of capitalism, imperialism, anti-imperialist struggle, neoclassical economics, Third World revolutions, national resistance
About these checks
Registry, retraction, Cites and statistics results are computed, not judged, with one exception: a printed reference that no index lists is read once by a model before it counts as a citation error. Claims are extracted by a model and kept only when their quote appears verbatim in the text; each cited source is then checked, with a model’s help, for whether it says what the claim relies on. Those verdicts can be wrong — read the claim’s quote and the cited source before relying on one.
A language model drew the claims from the paper on 2026-11-09, under version 3 of the claim definition (model deepseek-v4.1-flash, prompt extract-v3).
A second model labelled each claim on 2026-11-09 (model jev-1.13-20260917, definition revision gold-guideline-v0.2).
Statistics and arithmetic are recomputed, not judged.
Confidence bands are shown only for fields calibrated on our annotated test set. None is calibrated yet, so no band is shown.
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