Underdevelopment by Design: The Metrics of Unequal Exchange

https://tankie.tube/w/dRV4XPL3TokoMuWC3raZ3N

"Güney Işıkara and Patrick Mokre have published an insightful book that explains how Marx’s theory of value operates to explain the trends and fluctuations in modern capitalist economies. Called Marx’s Theory of Value at the Frontiers – Classical Political Economics, Imperialism and Ecological Breakdown, the title tells the reader that the book is about taking Marx’s law of value towards what they call its ‘frontiers’, namely markets and trade; imperialism and the global environmental crisis.

This is an ambitious project, but the authors succeed with a high degree of clarity in explaining the way that value (as created by human labour power at the highest level of abstraction) is modified and mediated by competition between capitalists into what Marx called ‘prices of production’ (where individual capitals’ profit rates become equalised) and by market prices (where surplus profits drive capitalists into unceasing competition).

The authors, as former students of Anwar Shaikh, adopt his theory of ‘real competition’ as opposed to the mainstream ‘perfect competition’. The latter is based on a view of capitalist production based on harmony and equilibrium, while real competition is unceasing turbulence. That is real competition at work: “antagonistic by nature and turbulent in operation” (Shaikh)."

https://thenextrecession.wordpress.com/2025/10/03/the-frontiers-of-value/

#Capitalism #Marx #Marxism #PoliticalEconomy #Competition #ValueTheory #Imperialism #Ecology

The featured Wiki of the Day for Saturday, 2 August 2025, is Value theory.

Listen to the new episode here: https://wikioftheday.com/wotdep.php?pod=featured&epnum=3011

See our archives or subscribe here: https://wikioftheday.com

#ValueTheory #wiki #wikipedia #podcast

[New post] Of production, extraction, degrowth and doing magic: theories of value in Naomi Novik's Scholomance Trilogy

https://edgeryders.eu/t/of-production-extraction-degrowth-and-doing-magic-theories-of-value-in-naomi-noviks-scholomance-trilogy/21238?u=alberto

Photo: Public domain, from https://www.needpix.com/photo/download/1017235/witch-sorcerer-woman-female-young-medieval-magic-gothic-dark

#scifieconomics
#economics
#valueTheory

"The contributions to the Forum refer to Simon Clarke’s ‘two stages of the same project’, as Clarke explained regarding Marx’s work. They make apparent that Clarke’s initial intellectual contributions to the critique of political economy, form analysis, value theory, theory of the state and money were essential to his later understanding of the collapse and metamorphosis of the former URSS State Socialism into a capitalist form, and his analysis of the political implications of such transformation on labour relations, working-class interests and class struggle in Russia, other Eastern European countries, China, and Vietnam."

https://journals.sagepub.com/doi/full/10.1177/03098168231171635

#Marxism #CriticalTheory #PoliticalEconomy #CritiqueOfPoliticalEconomy #ValueTheory

SEP:ssä kokonaan uutena Adlerin ja Holtugin entry prioritarianismista arvoteoriana,

https://plato.stanford.edu/entries/prioritarianism/

#sep #ethics #etiikka #arvo #arvoteoria #value #valueTheory #new #filosofia #philosophy #policy #political #politicalTheory

Bloomberg report: Wall Street is shorting the green economy

Managers in the $5 trillion hedge fund industry say the reason is obvious: Despite the promises, clean energy and green technology stocks have lagged far behind the broader market. Deep-pocketed institutions are concluding that many climate investments won’t pay off as quickly, or as lucratively, as they’d hoped.

#capitalism baby! It's not that climate investments aren't making money. It's that they aren't making enough, quickly enough. It's profitable, but it's not profitable ENOUGH to induce these fuckers to slow the burning of the planet.

This is what you get when money = value and value = money.

#ValueTheory #Degrowth #ClimateCrisis #ClimateChange #GreenTransition

https://archive.is/2ePct

An excellent piece by Michael Roberts.
Why #Marx's #ValueTheory does not need amending to include nature.

Inter alia, it shows how so called AI obeys the law of "garbage in, garbage out".

"Marx’s theory of value: collapse, AI and Petro"

https://thenextrecession.wordpress.com/2024/10/03/marxs-theory-of-value-collapse-ai-and-petro/