The "forgotten" second volume of Capital, Marx's world-shaking analysis of economics, politics, and history, contains the vital discussion of commodity, the cornerstone to Marx's theories.

The question of whether 40-60-year Kondratieff long waves in economic growth actually exist has been controversial since the 1920s. The authors of this book apply new methods of time series analysis and report evidence of long waves in the 19th and 20th centuries. In the second section of the book, contributions from Russia, the USA and France show that there is a long wave pattern in the aggregate profit rates of several highly industrialized countries. Although there is still a lot to be discussed about the properties of various profit rate estimates, this research sheds new light on the discussion of the famous Marxian law of the falling tendency of the aggregate profit rate. The third section of this book provides theoretical discussions and attempts at modelling the role of social, economic and technological factors in the long-wave process, besides presenting new data on long-run patterns of labour unrest. While answers to a number of old questions come within reach, interesting new hypotheses emerge.

This book presents new methods for the analysis of time series and the identification of long waves. In Part One it is shown that new time series analyses confirm the existence of Kondratieff long waves in economic growth for the 19th and 20th centuries. Part Two presents evidence on long waves in aggregate profit rates for selected major industrialized countries. Part Three covers theoretical discussions and attempts at modeling social, economic and technological factors in long waves.

The third volume of the book that changed the course of world history, Capital's final chapters were Marx's most controversial writings on the subject, and were never completed.

The extended critical interview is especially flexible as a form, by turns tenacious and glancing, elliptical or sustained, combining argument and counter-argument, reflection, history and memoir with a freedom normally denied to its subjects in conventional writing formats. Lives on the Left brings together sixteen such interviews from New Left Review in a group portrait of intellectual engagement in the twentieth century and since. Four generations of intellectuals discuss their political histories and present perspectives, and the specialized work for which they are, often, best known. Their recollections span the century from the Great War and the October Revolution to the present, ranging across Europe, the Americas, Africa and Asia. Psychoanalysis, philosophy, the gendering of private and public life, capital and class formation, the novel, geography, and language are among the topics of theoretical discussion. At the heart of the collection, in all its diversity of testimony and judgement, is critical experience of communism and the tradition of Marx, relayed now for a new generation of readers. Lives on the Left includes interviews with Georg Lukacs, Hedda Korsch, Jean-Paul Sartre, Dorothy Thompson, Jir?i Pelikan, Ernest Mandel, Luciana Castellina, Lucio Colletti, K. Damodaran, Noam Chomsky, David Harvey, Adolfo Gilly, Joao Pedro Stedile, Asada Akira, Wang Hui and Giovanni Arrighi. New Left Review was founded in 1960 in London, which has remained its base ever since. In fifty years of publication, it has won an international reputation as an independent journal of socialist politics and ideas, attracting readers and contributors from every part of the world. A Spanish-language edition is published bi-monthly from Madrid.

Ernest Mandel's book is a study of Eurocommunism unlike any other. Written in the polemical tradition of Trotsky, its sweep extends well beyond the immediate prospects of the Communist Parties of Western Europe. Mandel traces the long historical process which has transformed the once embattled detachments of the Third International into the constitutionalist formations of "historic compromise" and "union of the people" today. He then goes on to argue that the national roads to socialism of contemporary Eurocommunism are the "bitter fruits of socialism in one country" in the USSR.
Mandel's book contains trenchant and documented criticisms of the ideas of Santiago Carrillo in Spain, the economic policies of the PCI in Italy, and the PCF's theories of the State in France. But it also sets these Western developments in the context of European politics as a whole--discussing the Russian response to Carrillo, the organizational attitudes of the CPSU to the Western parties, and the emergence of major dissident currents in Eastern Germany sympathetic to Eurocommunism.
"From Stalinism to Eurocommunism" represents the first systematic and comprehensive critique from the Marxist Left of the new strategy of Western Communism. It can be read as a barometer of the storms ahead in the European labour movement.

Between 1918 and 1968, the forces of revolution and counter-revolution fought a ceaseless battle over Europe's history. In Germany and Spain, the Moscow-led communist parties led the revolutionary movements to disaster. In the decades after the Second World War, democracy was regularly threatened by right-wing movements which aimed to dramatically constrict democratic rights. This 'Bonapartism' continually threatened democracy in France until the 1968 worker- and student-revolt destroyed the foundations of Gaullism.In this book a participant and political leader within the revolutionary movement gives his perspectives on those struggles. A biographical note by Ernest Mandel, which introduces this volume, explains how over six decades in the workers movement Pierre Frank became perhaps the best-known anti-Stalinist revolutionary in France. He was one of the first to be arrested during the crisis of 1968, when the French section of the Fourth International was banned.Frank was secretary to Leon Trotsky in the 1930s, a central leader of the Fourth International from the 1940s and, until his death in 1984, editor of its French-language theoretical journal, "Quatri me Internationale." His best-known books are "The Long March of the Trotskyists" and "Histoire de l'Internationale Communiste," a chapter of which has been specially translated for this volume.

Was October 1917 a coup d'etat or a social revolution? Writing as both a historian and political activist, Ernest Mandel vigorously reasserts the deep legitimacy of the Russian Revolution. He considers mistakes made by the Bolshevik leadership in 1917-21 and sets out lessons to be learnt.David Mandel's 'Factory Committees and Workers' Control in Petrograd in 1917' draws on Russian-language archives to tell the story from below. Petrograd workers did not dream at first of 'socialist experiments'. Factory committees met fierce resistance from owners, they were driven to take management into their own hands and to seek the nationalisation of industries. Common conceptions about the 'utopian' and 'anarchistic' impulses supposedly behind the October Revolution are reassessed and refuted.The introduction by Paul Le Blanc, provides a new evaluation of the events one century on. He discusses recent scholarship and debates, new ways of comprehending class, the centrality of women and that of ethnicity, race and national identity, as well as Lars Lih's reassessment of the role of Kamenev and Zinoviev. Paul Le Blanc considers 'what went right: the revolution that brought 'bread, peace and land' to millions, and 'what went wrong'. Were the Bolsheviks elitist, sectarian and authoritarian? He assesses what is still relevant today and what is not.

Late Capitalism is the first major synthesis to have been produced by the contemporary revival of Marxist economics. It represents, in fact, the only systematic attempt so far ever made to combine the general theory of the "laws of motion" of the capitalist mode of production developed by Marx, with the concrete history of capitalism in the twentieth century. Mandel's book starts with a challenging discussion of the appropriate methods for studying the capitalist economies. He seeks to show why the classical approaches of Luxemburg, Bukharin, Bauer and Grossman failed to accomplish the further development of Marxist theory whose urgency became evident after Marx's death. He then sketches the structure of the world market and the variant types of surplus-profit that have characterized its successive stages. On these foundations, Late Capitalism proceeds to advance an extremely bold schema of the "long waves" of expansion and contraction in the history of capitalism, from the Napoleonic Wars to the present. Mandel criticizes and refines Kondratieff's famous use of the notion. Mandel's book surveys in turn the main economic characteristics of late capitalism as it has emerged in the contemporary period. The last expansionary long wave, it argues, started with the victory of fascism on the European continent and the advent of the war economies in the US and UK during the 1940s, and produced the record world boom of 1947-72. Mandel discusses the reasons why the dynamic upswing of growth in this period was bound to reach its limits at the turn of the 1970s, and why a long wave of economic stagnation and intensified class struggle has set in today. Late Capitalism is a landmark in Marxist economic literature. Specifically designed to explain the international recession of the 1970s, it is a central guide to understanding the nature of the world economic crisis today.

In this revised and expanded edition of Long Waves of Capitalist Development, Ernest Mandel seeks to explain the underlying determinants of the booms and slumps of the trade cycle. Mandel first establishes that there have indeed been twenty- to twenty-five-year-long waves of capitalist expansion and contraction-and that these have persisted in the period since World War II. He then assembles evidence to show that while broad tendencies in the rate of profit have been decisive in triggering downturns, the ingredients necessary for a new upswing are, by contrast, generally political and extra-economic in character. He thereby demonstrates the falsity of neo-liberal doctrines, according to which the free market will itself generate a new formula for balanced and sustainable expansion. Long Waves of Capitalist Development not only offers a penetrating analysis of the ills that have afflicted contemporary capitalist economies but also surveys, and takes forward, one of the classical debates of modern economic history.

We live in an age where everything has been internationalised. Imperialism brought in its wake world politics and world economics. In this book, Pierre Frank explains how the Fourth International, founded in 1938 by Revolutionary Marxist militants, nuclei, currents and organizations, answered the problem of the construction of anti-capitalist, revolutionary political formations. As Ernest Mandel's biographical essay explains, Frank was secretary to Leon Trotsky in 1932-1933. This book draws on Frank's experience as a central leader of the Fourth International through to 1979. Daniel Bensaid's appendix explains the following 30 years of the Fourth International life. Two contributions develop its perspective of establishing a new independent political representation of the working class that takes into account the diversity of the working class in defending a resolutely class-based programme: a statement by founders of the French LCR explaining its decision to dissolve into the NPA; and the key resolution adopted by the Fourth International's 2009 world congress.

A concise presentation of the basic principles of political economy.

The credit crunch of 2008 produced an international recession in 2009. In this volume Claudio Katz and Michel Husson, both fellows of the International Institute for Research and Education, and Raphie de Santos lead an attempt not to only to describe the present crisis, but also to understand its causes and debate socialist solutions. Sean Thompson shows how neoliberal globalisation has an inbuilt tendency towards deflation. As explained in the article by Franois Sabado, the period since the turn of the century has been a disaster for American capitalism; first the catastrophe in Iraq and of the Bush government in general, and now an economic collapse that has completely undermined neoliberalism's 'Washington Consensus'. The ideologues of capitalism are on the defensive. But the Marxist explanation of the crisis has to be hammered home. Who caused this crisis? Why did it occur? What is it in capitalism that leads to the globalisation of poverty while a tiny elite become mega-wealthy? And what are possible alternatives? This book is a signal contribution to making those arguments.

CONTENTS: Introduction - Labour, Necessary product, Surplus Product - Exchange, Commodity, Value - Money, Capital, Surplus-value - The Development of Capital - The Contradictions of Capitalism - Trade - Credit - Money - Agriculture- Reproduction and the Growth of National Income - Periodical Crises - Monopoly Capitalism - Imperialism - The Epoch of Capitalist Decline - The Soviet Economy - The Economy of the Transition Period - Socialist Economy - Origin, Rise and Withering Away of Political Economy- Bibliography - Index

CONTENTS: Introduction - Labour, Necessary product, Surplus Product - Exchange, Commodity, Value - Money, Capital, Surplus-value - The Development of Capital - The Contradictions of Capitalism - Trade - Credit - Money - Agriculture- Reproduction and the Growth of National Income - Periodical Crises - Monopoly Capitalism - Imperialism - The Epoch of Capitalist Decline - The Soviet Economy - The Economy of the Transition Period - Socialist Economy - Origin, Rise and Withering Away of Political Economy- Bibliography - Index

The very scale of the 1939-45 war has often tempted historians to study particular campaigns at the expense of the wider panorama. In this readable and richly detailed history of the conflict, the Belgian scholar Ernest Mandel (author of the acclaimed Late Capitalism) outlines his view that the war was in fact a combination of several distinct struggles and a battle between rival imperialisms for world hegemony. In concise chapters, Mandel examines the role played by technology, science, logistics, weapons and propaganda. Throughout, he weaves a consideration of the military strategy of the opposing states into his analytical narrative of the war and its results.

Leon Trotsky has become one of the twentieth century's most enduring political legends. Joining the Bolsheviks on the eve of the 1917 revolution he played a vital role as Lenin's right-hand man in the insurrection and went on to lead the Red Army to victory in the ensuing civil war. Having lost to Stalin the struggle for power which followed Lenin's death, he became an implacable opponent of the dictator over the next three decades-a stance which cost him his political career, his citizenship and ultimately his life. A charismatic orator, a prolific author and a political philosopher whose ideas continue to resonate in the wake of the collapse of the Stalinist regimes of Eastern Europe, Trotsky made an indelible mark on world history. Ernest Mandel, one of the foremost leaders of the international movement which Trotsky founded before the Second World War and an influential economist and political theorist, is uniquely placed to review the life and work of Trotsky. In Trotsky as Alternative he presents a portrait of his subject which is appreciative yet critical. He shows that Trotsky's contribution to the history of the twentieth century was primarily political rather than sociological, and this in a practical as well as a theoretical sense. He locates Trotsky's theory of uneven and combined development as a crucial tool whose explanatory power of the mechanisms of world imperialism is as relevant to the late capitalism of the 1990s as it was to the first three decades of the century when it was formulated. Ranging across Trotsky's struggles against Stalin's bureaucracy, his formulation of an alternative economic strategy, his theories relating to the Third World, fascism and the national question, his extensive literary criticism, and concluding with a moving assessment of an extraordinary life, this book is a fitting testimony to a man who, in Mandel's words, "will be judged by history as the most important strategist for the socialist movement."

Analyses of bureaucratic power and privilege have an academic pedigree but have also long preoccupied socialists. The collapse of Communist rule in the Soviet Union and Eastern Europe puts to a new test the classical theories concerning the relationship between bureaucracy and class. Power and Money is a timely contribution to this renewal theory, exploring the social and historical roots of bureaucracy, both within the capitalist state and in workers' mass organizations. Ernest Mandel draws on archival and contemporary accounts in an analysis of both capitalist administration and the ideology and practice of bureaucratic dictatorship in the Communist bloc. He measures the actual performance of Western and Eastern societies against the forecasts of Lenin and Trotsky, Ludwig von Mises and Roberto Michels, or the more recent reflections of Amitai Etzioni and Alvin Gouldner. This lucid study challenges those theories - Stalinist, Weberian or social-democratic - which claim that an autonomous officialdom is a necessary feature of modern societies. It also furnishes a perceptive account of the specific dynamics of Communist and post-communist society.

In this republication of the 1971 original, Ernest Mandel traces the development of Marx's economic ideas from the Economic and Philosophic Manuscripts to the completion of the Grundrisse. In a series of focused chapters he provides an overview of debates and discussions of subjects that are central to Marxist economic theory. Mandel focuses on Marx's concept of "alienation" which gained much currency among Marxists in the twentieth century, traces the development of debates surrounding the labor theory of value, Marx's writings on communism and "crisis." These debates and discussions started by Marx have not ended and remain evermore pertinent to the present day. These writings are vital not just to academics but also to those who wish to interpret and to change the world.