ABSTRACT

This re-incorporation of economics into political economy is one (small, but not insignificant) element in a larger project: to place all of the resources of present-day social-scientific research at the service of increasing democracy, in an ultimate direction toward socialism in the classic sense. An economics-enriched political economy is, above all, empowering: working people in general can calculate, build models, think theoretically, and contribute to a human-worthy future, rather than leaving all this to their "betters."

chapter |9 pages

Introduction

chapter |18 pages

Rhetoric and substance in value theory

An appraisal of the new orthodox Marxism

chapter |29 pages

Okishio and his critics

Historical cost vs. replacement cost

chapter |11 pages

Rationing and price control

chapter |18 pages

Broadening the theory of aggregate supply

A “New Critical” proposal

chapter |18 pages

Revisioning socialism

The Cherry Esplanade Conjecture