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Stephen A. Resnick
Stephen Alvin Resnick (; October 24, 1938 – January 2, 2013) was an American Marxist economist. He was well known for his work (much of it written together with Richard D. Wolff) on Marxian economics, economic methodology, and class analysis. His work, along with that of Wolff, is especially associated with a post- Althusserian perspective on political economy. Biography Resnick earned a B.S. in economics from the University of Pennsylvania in 1960. He received his Ph.D. in 1964 from the Massachusetts Institute of Technology. His dissertation was an econometric analysis of the European Common Market. His early work (during his tenure at Yale University between 1965 and 1971) was with Stephen Hymer and focused on issues of economic development and international political economy. After a brief period at the City College of New York (1971–1973), Resnick began teaching at the Economics Department of the University of Massachusetts Amherst in 1973. He began working with Ric ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Marxian Economics
Marxian economics, or the Marxian school of economics, is a heterodox school of political economic thought. Its foundations can be traced back to Karl Marx's critique of political economy. However, unlike critics of political economy, Marxian economists tend to accept the concept of the economy prima facie. Marxian economics comprises several different theories and includes multiple schools of thought, which are sometimes opposed to each other; in many cases Marxian analysis is used to complement, or to supplement, other economic approaches. An example can be found in the works of Soviet economists like Lev Gatovsky, who sought to apply Marxist economic theory to the objectives, needs, and political conditions of the socialist construction in the Soviet Union, contributing to the development of Soviet political economy. Marxian economics concerns itself variously with the analysis of crisis in capitalism, the role and distribution of the surplus product and surplus value in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
International Trade
International trade is the exchange of capital, goods, and services across international borders or territories because there is a need or want of goods or services. (See: World economy.) In most countries, such trade represents a significant share of gross domestic product (GDP). While international trade has existed throughout history (for example Uttarapatha, Silk Road, Amber Road, salt roads), its economic, social, and political importance has been on the rise in recent centuries. Carrying out trade at an international level is a complex process when compared to domestic trade. When trade takes place between two or more states, factors like currency, government policies, economy, judicial system, laws, and markets influence trade. To ease and justify the process of trade between countries of different economic standing in the modern era, some international economic organizations were formed, such as the World Trade Organization. These organizations work towards the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic History
Economic history is the study of history using methodological tools from economics or with a special attention to economic phenomena. Research is conducted using a combination of historical methods, statistical methods and the Applied economics, application of economic theory to historical situations and institutions. The field can encompass a wide variety of topics, including equality, finance, technology, labour, and business. It emphasizes historicizing the economy itself, analyzing it as a dynamic entity and attempting to provide insights into the way it is structured and conceived. Using both quantitative data and Qualitative data, qualitative sources, economic historians emphasize understanding the historical context in which major economic events take place. They often focus on the institutional dynamics of systems of Production (economics), production, Wage labour, labor, and Capital (economics), capital, as well as the economy's impact on society, culture, and language. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Marxian Theory
Marxism is a political philosophy and method of socioeconomic analysis. It uses a dialectical and materialist interpretation of historical development, better known as historical materialism, to analyse Social class, class relations, social conflict, and social transformation. Marxism originates from the works of 19th-century German philosophers Karl Marx and Friedrich Engels. Marxism has developed over time into various branches and Marxist schools of thought, schools of thought, and as a result, there is no single, definitive "Marxist philosophy, Marxist theory". Marxism has had a profound effect in shaping the modern world, with various left-wing and far-left political movements taking inspiration from it in varying local contexts. In addition to the various schools of thought, which emphasize or modify elements of classical Marxism, several Marxian concepts have been incorporated into an array of Social theory, social theories. This has led to widely varying conclusions. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rethinking Marxism
''Rethinking Marxism'' is a quarterly peer-reviewed academic journal covering Marxist analyses of economics, culture, and society. It was established in 1988 and has been published by Routledge since 2003 on behalf of the Association for Economic and Social Analysis. The editors-in-chief are Yahya M. Madra and Vincent Lyon-Callo. History Founded mainly by the professors and graduate students of the Department of Economics at the University of Massachusetts Amherst, the first issue of ''Rethinking Marxism'' appeared in 1988, just before the dissolution of the Soviet Union began. The journal quickly became an influential academic platform for Althusserian Marxism in the North American context.See and also Even though the journal was launched by a group of economists (among others, Stephen Resnick, Richard D. Wolff, Jack Amariglio, David Ruccio) and continues to regularly publish articles in the various sub-fields of Marxist economics, such as the labor theory of value, cla ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Social Class
A social class or social stratum is a grouping of people into a set of Dominance hierarchy, hierarchical social categories, the most common being the working class and the Bourgeoisie, capitalist class. Membership of a social class can for example be dependent on education, wealth, occupation, income, and belonging to a particular subculture or social network. Class is a subject of analysis for sociologists, political scientists, anthropologists and Social history, social historians. The term has a wide range of sometimes conflicting meanings, and there is no broad consensus on a definition of class. Some people argue that due to social mobility, class boundaries do not exist. In common parlance, the term social class is usually synonymous with Socioeconomic status, socioeconomic class, defined as "people having the same social, economic, cultural, political or educational status", e.g. the working class, "an emerging professional class" etc. However, academics distinguish socia ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Communism
Communism () is a political sociology, sociopolitical, political philosophy, philosophical, and economic ideology, economic ideology within the history of socialism, socialist movement, whose goal is the creation of a communist society, a socioeconomic order centered on common ownership of the means of production, distribution, and exchange that allocates products in society based on need.: "One widespread distinction was that socialism socialised production only while communism socialised production and consumption." A communist society entails the absence of private property and social classes, and ultimately money and the State (polity), state. Communists often seek a voluntary state of self-governance but disagree on the means to this end. This reflects a distinction between a Libertarian socialism, libertarian socialist approach of communization, revolutionary spontaneity, and workers' self-management, and an authoritarian socialism, authoritarian socialist, vanguardis ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Capitalism
Capitalism is an economic system based on the private ownership of the means of production and their use for the purpose of obtaining profit. This socioeconomic system has developed historically through several stages and is defined by a number of basic constituent elements: private property, profit motive, capital accumulation, competitive markets, commodification, wage labor, and an emphasis on innovation and economic growth. Capitalist economies tend to experience a business cycle of economic growth followed by recessions. Economists, historians, political economists, and sociologists have adopted different perspectives in their analyses of capitalism and have recognized various forms of it in practice. These include '' laissez-faire'' or free-market capitalism, state capitalism, and welfare capitalism. Different forms of capitalism feature varying degrees of free markets, public ownership, obstacles to free competition, and state-sanctioned social poli ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Feudalism
Feudalism, also known as the feudal system, was a combination of legal, economic, military, cultural, and political customs that flourished in Middle Ages, medieval Europe from the 9th to 15th centuries. Broadly defined, it was a way of structuring society around relationships derived from the holding of land in exchange for service or labour. The classic definition, by François Louis Ganshof (1944),François Louis Ganshof (1944). ''Qu'est-ce que la féodalité''. Translated into English by Philip Grierson as ''Feudalism'', with a foreword by F. M. Stenton, 1st ed.: New York and London, 1952; 2nd ed: 1961; 3rd ed.: 1976. describes a set of reciprocal legal and Medieval warfare, military obligations of the warrior nobility and revolved around the key concepts of lords, vassals, and fiefs. A broader definition, as described by Marc Bloch (1939), includes not only the obligations of the warrior nobility but the obligations of all three estates of the realm: the nobility, the cl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Slavery
Slavery is the ownership of a person as property, especially in regards to their labour. Slavery typically involves compulsory work, with the slave's location of work and residence dictated by the party that holds them in bondage. Enslavement is the placement of a person into slavery, and the person is called a slave or an enslaved person (see ). Many historical cases of enslavement occurred as a result of breaking the law, becoming indebted, suffering a military defeat, or exploitation for cheaper labor; other forms of slavery were instituted along demographic lines such as race or sex. Slaves would be kept in bondage for life, or for a fixed period of time after which they would be granted freedom. Although slavery is usually involuntary and involves coercion, there are also cases where people voluntarily enter into slavery to pay a debt or earn money due to poverty. In the course of human history, slavery was a typical feature of civilization, and existed in most socie ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Surplus Labor
Surplus labor () is a concept used by Karl Marx in his critique of political economy. It means labor performed in excess of the labor necessary to produce the means of livelihood of the worker ("necessary labor"). The "surplus" in this context means the ''additional'' labor a worker has to do in their job, beyond earning their own keep. According to Marxian economics, surplus labor is usually uncompensated (unpaid) labor. Marx's first analysis of what surplus labor means appeared in ''The Poverty of Philosophy'' (1847), a polemic against the philosophy of Pierre-Joseph Proudhon. A much more detailed analysis is presented in the volumes of '' Theories of Surplus Value'' and ''Das Kapital''. Origin Marx explains the origin of surplus labor in the following terms: The historical emergence of surplus labor is, according to Marx, also closely associated with the growth of trade (the economic exchange of goods and services) and with the emergence of a society divided into social cla ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Das Kapital
''Capital: A Critique of Political Economy'' (), also known as ''Capital'' or (), is the most significant work by Karl Marx and the cornerstone of Marxian economics, published in three volumes in 1867, 1885, and 1894. The culmination of his life's work, the text contains Marx's analysis of capitalism, to which he sought to apply his theory of historical materialism in a critique of political economy, critique of classical political economy. 's second and third volumes were completed from manuscripts after Marx's death in 1883 and published by Friedrich Engels. Marx's study of political economy began in the 1840s, influenced by the works of the classical political economists Adam Smith and David Ricardo. His earlier works, including ''Economic and Philosophic Manuscripts of 1844'' and ''The German Ideology'' (1846, with Engels), laid the groundwork for his theory of historical materialism, which posits that the Base and superstructure, economic structures of a society (in par ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
