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Cited by 30Political Economy and MarxismEconomic Theory and PolicyEconomic Theory and Institutions

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The value of history and the history of value

Desai, Radhika·2016·The Great Financial Meltdown
DOI 10.4337/9781784716493.00017
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Abstract

This chapter argues that Marxist economics cannot explain the present crisis because, as a discipline, it is not geared to. It is an oxymoron attempting fit Marxism to the methodological frame of marginalist neoclassical economics. The latter is antithetical to Marxism because it is ahistorical. In place of Marxist economics, this chapter proposes a geopolitical economy which exploits the resources of the historical the traditions of classical political economy and the critics of neoclassical economics in a way that enables us to view the present crisis in its historical and world perspective. It proceeds by first outlining a critique of Marxist economics and follows it up with a discussion of the variety of forms of capitalist crises. These discussions clear the ground for a historical view of value production and an understanding of the drivers of its own history. A full account of the present crisis being impossible here, the chapter closes with sketches of how geopolitical economy would approach two key elements of it: consumption demand and international capital flows.

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Metadata

Authors
Desai, R.
Corresponding author
Desai, Radhika
ORCID
Desai, Radhika
Venue
The Great Financial Meltdown
Publisher
Edward Elgar Publishing
Published
2016-06-24
DOI
10.4337/9781784716493.00017
OpenAlex
W2797306103
Cited by
30
References
0
Citations by year
2022: 1 · 2021: 1 · 2020: 23 · 2019: 1 · 2018: 1 · 2016: 1
FWCI
4.92
Type
book chapter
Language
en
Open access
closed
Locations
Edward Elgar Publishing eBooks (publishedVersion)
Topics
  • Social Sciences › Sociology and Political Science › Political Economy and Marxism
  • Social Sciences › Economics, Econometrics and Finance › General Economics, Econometrics and Finance › Economic Theory and Policy
  • Social Sciences › Economics, Econometrics and Finance › Economics and Econometrics › Economic Theory and Institutions
Keywords
Marxian economics, critique of neoclassical economics, geopolitical economy, crisis of capitalism, value production, history of values, classical economics, consumer demand, international capital flows, methodological critique

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