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Guglielmo Carchedi

Michael Roberts

Contemporary capitalism is always evolving. From digital technologies to cryptocurrencies, current trends in political economy are much discussed, but often little understood. So where can we turn for clarity? As Michael Roberts and Guglielmo Carchedi argue, new trends don’t necessarily call for new theory.

In Capitalism in the 21st Century, the authors show how Marx’s law of value explains numerous issues in our modern world. In both advanced economies and the periphery, value theory provides a piercing analytical framework through which we can approach topics as varied as labour, profitability, automation and AI, the environment, nature and ecology, the role of China, imperialism and the state.

This is an ambitious work that will appeal to both heterodox economists and labour movement activists alike, as it demonstrates the ongoing contemporary relevance of Marxist theory to current trends in political economy.

Pluto Press

IIPPE

Capitalism in the 21st Century: Through the Prism of Value

Ben Fine

Ourania Dimakou

Macroeconomics is your guide to how economics shape how the world functions today. But too often our understanding is based on orthodox, dogmatic analysis. This distinctive book draws upon years of critical questioning and teaching and exposes how macroeconomic theory has evolved from its origins to its current impoverished and extreme state. 

Moving from the Keynesian Revolution to the Monetarist Counter-Revolution, through to New Classical Economics and New Consensus Macroeconomics, the authors both elaborate and question the methods and content of macroeconomic theory at a level appropriate for both undergraduate and postgraduate studies. 

Macroeconomics provides a unique alternative to the multitude of standard textbooks by locating macroeconomic theory in its own history. It will be perfect for those studying macroeconomics, as well as for those looking for a new way to understand our increasingly complicated economic system.

It is accompanied by a counterpart Microeconomics: A Critical Companion.

Macroeconomics: A Critical Companion

Microeconomics: A Critical Companion offers students a clear and concise exposition of mainstream microeconomics from a heterodox perspective. Covering topics from consumer and producer theory to general equilibrium to perfect competition, it sets the emergence and evolution of microeconomics in both its historical and interdisciplinary context.

From the culmination of 40 years of teaching, research and policy advice on political economy, Ben Fine critically exposes the methodological and conceptual content of dominant microeconomic models without sacrificing the technical detail required for those completing a first degree in economics or entering postgraduate study. The result is a book which is sure to establish a strong presence on undergraduate reading lists and in comparative literature on the subject.

Microeconomics: A Critical Companion

Moving beyond abstract economic models and superficial descriptions of the market, Beyond the Developmental State analyses the economic, political and ideological interests which underpin current socio-economic processes. 

Through this approach, the contributors show the close interrelation between states and markets in both national and international contexts. Drawing on a wide range of case studies and themes, the book exposes the theoretical and empirical limitations of the developmental state paradigm, offering alternatives as well as discussing the policy implications and challenges they raise. 

For scholars, students and practitioners of development, Beyond the Developmental State presents a decisive break with the old dogmas of both neoliberal orthodoxy and theories of 'market-imperfection', and outlines theoretically and empirically grounded alternatives.

Beyond the Developmental State: Industrial Policy into the Twenty-first Century

Any student, academic or practitioner wanting to succeed in development studies, radical or mainstream, must understand the World Bank's role and the evolution of its thinking and activities. The Political Economy of Development provides tools for gaining this understanding and applies them across a range of topics.

The research, practice and scholarship of development are always set against the backdrop of the World Bank, whose formidable presence shapes both development practice and thinking. This book brings together academics that specialise in different subject areas of development and reviews their findings in the context of the World Bank as knowledge bank, policy-maker and financial institution. The volume offers a compelling contribution to our understanding of development studies and of development itself.

The Political Economy of Development is an invaluable critical resource for students, policy-makers and activists in development studies.

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