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Capitalism in the 21st Century

Through the Prism of Value

Michael Roberts author Guglielmo Carchedi author

Format:Paperback

Publisher:Pluto Press

Published:20th Dec '22

Should be back in stock very soon

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Capitalism in the 21st Century cover

This book provides a Marxist perspective on modern economic issues, illustrating the relevance of value theory in understanding contemporary capitalism and its challenges.

In Capitalism in the 21st Century, authors Michael Roberts and Guglielmo Carchedi provide a comprehensive overview of significant issues within the global economy, all viewed through a Marxist lens. They explore how contemporary capitalism is constantly evolving, particularly in the face of emerging technologies and trends such as digital advancements and cryptocurrencies. While these developments are frequently discussed, they often lack clear understanding, prompting the authors to seek clarity through established theoretical frameworks.

The book emphasizes that new economic trends do not necessarily require new theories. Instead, Capitalism in the 21st Century illustrates how Marx’s law of value remains relevant in analyzing modern economic challenges. By applying value theory, the authors delve into a range of topics, including labor dynamics, profitability, automation, artificial intelligence, environmental concerns, and the geopolitical role of nations like China. This analytical approach sheds light on the complexities of modern economic systems.

This ambitious work is designed to resonate with both heterodox economists and activists within the labor movement. It makes a compelling case for the enduring significance of Marxist theory in understanding contemporary political economy. By bridging historical insights with modern realities, Capitalism in the 21st Century offers a vital perspective for those seeking to navigate the intricate landscape of today's global economy.

'A tour de force. This Marxist analysis is both a significant addition to the literature on Marx's theory of value and an accessible introduction to why it is essential to understanding the multiple crises of twenty-first century capitalism'

-- Murray E.G. Smith, Professor of Sociology at Brock University

'Carchedi and Roberts make killer arguments that Marx's labour theory of value is indispensable for understanding capitalism's environmental destructiveness, economic crises, impact on knowledge production and aspects of its financial processes'

-- Rick Kuhn, author of the Deutscher Prize winning 'Henryk Grossman and the Recovery of Marxism'

'Fundamental. Roberts and Carchedi explains the characteristics of the current world through its most objective dimension - the theory of value - which, in an anti-dialectical way, has been forgotten by the left in recent decades'

-- Raquel Varela, author of 'A People's History of the Portuguese Revolution'

'Offers a rigorous Marxist interpretation of some of the major issues in contemporary capitalism. Its analysis is firmly based on the Marxist labour theory of value and is coupled with meticulous empirical support'

-- Satvros Mavroudeas, Professor of Political Economy at Panteion University, Greece

'Two of the most accomplished and prominent Marxist authors'

-- Lefteris Tsoulfidis, Professor of Economic Thought, University of Macedonia, Greece

'Capitalism will always be capitalism, but in the 21st century new forms, controversies and challenges have appeared ... This book masterfully shows the strength of Marx’s law of value and the alternative socialist planning'

-- Juan Pablo, Professor of Applied Economics, Complutense University of Madrid

'Brilliant Marxian theoretical and empirical analysis ... as if updating Ernest Mandel’s Late Capitalism for the 21st century'

-- Seongjin Jeong, Professor of Economics, Gyeongsang National University

'Restates Marx’s critique of political economy for today, displaying formidable theoretical rigour and command of the empirical evidence. Roberts and Carchedi offer challenging analyses of ecological catastrophe, economic crises, imperialism, robots, and socialism from which everyone will learn'

-- Alex Callinicos, Professor of European Studies, King’s College Lo

ISBN: 9780745340883

Dimensions: 234mm x 156mm x 20mm

Weight: 369g

288 pages