Capitalism, development and empowerment of labour

• Verfasst von: Elsenhans, Hartmut [VerfasserIn]
• Titel: Capitalism, development and empowerment of labour
• Titelzusatz: a heterodox political economy
• Verf.angabe: Hartmut Elsenhans
• Ausgabe: First edition
• Verlagsort: London ; New York
• Verlag: Routledge, Taylor & Francis Group
• Jahr: 2022
• Umfang: viii, 224 Seiten
• Illustrationen: Illustrationen
• Gesamttitel/Reihe: Routledge frontiers of political economy
• Fussnoten: Includes bibliographical references and index
• ISBN: 978-1-032-02239-0
• ISBN: 978-1-032-02240-6
• DOI: doi:10.4324/978-1-003-18251-1
• Sprache: eng
• Bibliogr. Hinweis: Erscheint auch als : Online-Ausgabe: Elsenhans, Hartmut, 1941 - 2024: Capitalism, development and empowerment of labour. - London : Routledge, Taylor & Francis Group, 2022. - 1 Online-Ressource (viii, 224 Seiten)
• Bibliogr. Hinweis: Erscheint auch als : Online-Ausgabe: Elsenhans, Hartmut, - 1941-: Capitalism, development and empowerment of labour. - 1 Edition.. - New York : Routledge,, 2022. - 1 online resource.
• RVK-Notation: QD 110
• K10plus-PPN: 1755511337

Abstract

"In economics, the dominant neoliberal approach presents politics and political economy as nuisances which disturb the smooth operation of self-regulating markets. But political economy is not merely an academic issue - it is a class issue - and this book forcefully argues that political economy should return to a central position in the study of the social sciences. This book offers nothing less than a reconciliation of Marxian, Keynesian, and neoclassical economics. This model of political economy is used to analyse global capitalism, with an emphasis on the impact of globalization on the Global South. The book opens with a discussion of the key economic concepts which help to sustain capitalism: price, income, profit, value, growth and crisis. It is shown that under capitalism these concepts are all interconnected because the very emergence of capitalism resulted from the mass empowerment of the so-called "lower orders" through tightly controlled employment and income distribution. And in the Global South today it is clear that enormous riches go hand in hand with widespread misery and poverty because the market does not transform wealth into the kind of investment which might benefit the have-nots. The book argues that the new wealth triggered by productivity increases has enabled the rich to liberate themselves from the capitalist constraints of competition in order to waste their new wealth in the form of rents. The main threat today is, in fact, the globalization of rent. This book demonstrates the analytical power of political economy for all social scientists and will be invaluable reading for economists, political scientists and sociologists in particular. Hartmut Elsenhans is Professor emeritus at the Global and European Studies Institute, Leipzig, Germany."