Democracy is being destroyed. This is a crisis that expresses itself in the rising authoritarianism visible in divisive and exclusionary politics, populist political parties and movements, increased distrust in fact-based information and news, and the withering accountability of state institutions. What is less obvious is that the sources of the democratic rot are integral to the systemic crisis generated by neoliberal capitalism, which assigns economic metrics to all aspects of life. In other words, the crisis of democracy is the political crisis of neoliberal capitalism. Over the last four decades, democracy has radically shifted to a market democracy in which all aspects of human, non-human and planetary life are commodified, with corporations becoming more powerful than states and their citizens.

Volume six of the Democratic Marxism series focuses on how decades of neoliberal capitalism have eroded the global democratic project and how, in the process, authoritarian politics are gaining ground. Scholars and activists from the left focus on four country cases – India, Brazil, South Africa and the United States of America – in which the COVID-19 pandemic has fuelled and highlighted the pre-existing crisis. They interrogate issues of politics, ecology, state security, media, access to information and political parties, and affirm the need to reclaim and re-build an expansive and inclusive democracy.

Destroying Democracy is an invaluable resource for the general public, activists, scholars and students who are interested in understanding the threats to democracy and the rising tide of authoritarianism in the global global South and global North.

Despite the unprecedented gravity of the challenges posed by global warming, most political systems have not given them the required priority. The oil industry has resisted, and many countries have taken only token measures to reduce emissions and mitigate the worst effects. In this context, this book examines the progressive options available to today's developing countries as they face the limitations of neoliberalism and the existential challenge of global warming. Examining the cases of both low-income fossil fuel-dependent economies and large middle-income economies, this book argues that for all developing economies the best way forward includes 'green' macroeconomic policies articulated with progressive industrial and social policies, thus allowing these countries to achieve economic diversification, build alternative drivers of growth, and deliver improvements in the distribution of income, wealth and power. There is urgent need for this progressive policy agenda - grounded on heterodox economics, committed to social integration and the reduction of multiple inequalities - to improve the economic outcomes for these countries, improve the lives of citizens and meet global climate targets. The book argues that capitalism challenges the possibility of free and dignified existence while climate change challenges the possibility of life itself, and that these challenges must be confronted together. Since neoliberal capitalism will not adopt the necessary policies to reduce carbon emissions rapidly, it must be overthrown - not only for ethical or logical reasons, or to shift to better arrangements for the functioning of society, but in order to preserve the conditions for life itself. This agenda for progressive economic development is essential reading for anyone interested in heterodox economics, development studies, international politics, international relations and sustainable business.

The 59th annual volume of the Socialist Register examines the growth of corporate power and other important organizational trends in global capitalism. It rejects such notions as stakeholder capitalism and reviews the organisation and strategies of unions and the left, and its current and potential practices, as it searches for new routes to socialism.

This Companion takes stock of the trajectory, achievements, shortcomings and prospects of Marxist political economy. It reflects the contributors' shared commitment to bringing the methods, theories and concepts of Marx himself to bear across a wide range of topics and perspectives, and it provides a testimony to the continuing purpose and vitality of Marxist political economy. Some of the contributions found here offer an exposition of basic concepts, accessible to the general reader, laying out Marx's own contribution, its significance, and subsequent positions and debates with and within Marxist political economy. The authors also offer assessments of historical developments to and within capitalism, and of its current character and prospects. Other chapters adopt a mirror-image approach of pinpointing the conditions of contemporary capitalism as a way of interrogating the continuing salience of Marxist analysis. As a whole, the volume analyzes Marxist political economy in three areas: the critique of mainstream economics in all of its versions; the critical presence of Marxist political economy within, and its influence upon, each of the social science disciplines; and, cutting across these, the analysis of specific topics that straddle disciplinary boundaries. This volume will inform and inspire a new generation of students and scholars to become familiar with Marxist political economy from an enlightened and unprejudiced position, and to use their knowledge as both a resource and gateway to future study.

Contents:
Introduction
1. Materialist Dialects
1.1 Real Abstractions and Mental Generalisations
1.2 Marx, Hegal and 'New Dialects'
1.3 Conclusion
2. Interpretations of Marx's Value Theory
2.1 Embodied Labour Approaches
2.1.1 Traditional Marxism
2.1.2 Sraffian Analyses
2.2 Values from Theories
2.2.1 The Rubin Tradition
2.2.2 The 'New Interpretation'
2.3 Conclusion
3. Value and Capital
3.1 Division of Labour, Exploitation and Value
3.2 Capital
3.3 Conclusion
4. Wages and Exploitation
4.1 Wage Labour and Exploitation
4.2 Value of Labour Power
4.3 Conclusion
5. Values, Prices and Exploitation
5.1 Normalisation of Labour
5.1.1 Labour Intensity and Complexity, Education and Training
5.1.2 Mechanisation, Deskilling and Capitalist Control
5.2 Synchronisation of Labour
5.2.1 Value Transfers
5.2.2 Technical Change, Value and Crisis
5.3 Homogenisation of Labour
5.4 Conclusion
6. Composition of Capital
6.1 Understanding the Composition of Capital
6.2 Production and the Composition of Capital
6.3 Capital Accumulation
6.4 Conclusion
7. Transformation of Values into Prices of Production
7.1 Surplus Value, Profit, and the Composition of Capital
7.2 From Values to Prices of Production
7.3 The Transformation of Input Values
7.4 Conclusion
8. Money, Credit and Inflation
8.1 Labour and Money
8.2 Money and Prices of Production
8.3 Credit, Money and Inflation
8.4 Conclusion
Conclusion
References

The 59th annual volume of the Socialist Register examines the growth of corporate power and other important organizational trends in global capitalism. It rejects such notions as stakeholder capitalism and reviews the organisation and strategies of unions and the left, and its current and potential practices, as it searches for new routes to socialism.

Despite the unprecedented gravity of the challenges posed by global warming, most political systems have not given them the required priority. The oil industry has resisted, and many countries have taken only token measures to reduce emissions and mitigate the worst effects. In this context, this book examines the progressive options available to today's developing countries as they face the limitations of neoliberalism and the existential challenge of global warming. Examining the cases of both low-income fossil fuel-dependent economies and large middle-income economies, this book argues that for all developing economies the best way forward includes 'green' macroeconomic policies articulated with progressive industrial and social policies, thus allowing these countries to achieve economic diversification, build alternative drivers of growth, and deliver improvements in the distribution of income, wealth and power. There is urgent need for this progressive policy agenda - grounded on heterodox economics, committed to social integration and the reduction of multiple inequalities - to improve the economic outcomes for these countries, improve the lives of citizens and meet global climate targets. The book argues that capitalism challenges the possibility of free and dignified existence while climate change challenges the possibility of life itself, and that these challenges must be confronted together. Since neoliberal capitalism will not adopt the necessary policies to reduce carbon emissions rapidly, it must be overthrown - not only for ethical or logical reasons, or to shift to better arrangements for the functioning of society, but in order to preserve the conditions for life itself. This agenda for progressive economic development is essential reading for anyone interested in heterodox economics, development studies, international politics, international relations and sustainable business.

Neoliberalism is based on the systematic use of state power to impose, under the veil of 'non-intervention', a hegemonic project of recomposition of capitalist rule in most areas of social life. The tensions and displacements embedded within global neoliberalism are nowhere more evident than in the middle-income countries. At the domestic level, the neoliberal transitions have transformed significantly the material basis of social reproduction in these countries. These transformations include, but they are not limited to, shifts in economic and social policy. They also encompass the structure of property, the modality of insertion of the country into the international economy, and the domestic forms of exploitation and social domination. The political counterpart of these processes is the limitation of the domestic political sphere through the insulation of 'markets' and investors from social accountability and the imposition of a stronger imperative of labour control, allegedly in order to secure international competitiveness. These economic and political shifts have reduced the scope for universal welfare provision and led to regressive distributive shifts and higher unemployment and job insecurity in most countries. They have also created an income-concentrating dynamics of accumulation that has proven immune to Keynesian and reformist interventions. This book examines these challenges and dilemmas analytically, and empirically in different national contexts. This edited collection offers a theoretical critique of neoliberalism and a review of the contrasting experiences of eight middle-income countries (Brazil, China, India, Mexico, South Africa, South Korea, Turkey and Venezuela). The studies included are interdisciplinary, ranging across economics, sociology, anthropology, international relations, political science and related social sciences. The book focuses on a materialist understanding of the workings of neoliberalism as a modality of social and economic reproduction, and its everyday practices of dispossession and exploitation. It will therefore be of particular interest to scholars in industrial policy, neoliberalism and development strategy.

Neoliberalism is based on the systematic use of state power to impose, under the veil of ?non-intervention?, a hegemonic project of recomposition of capitalist rule in most areas of social life. The tensions and displacements embedded within global neoliberalism are nowhere more evident than in the middle-income countries. At the domestic level, the neoliberal transitions have transformed significantly the material basis of social reproduction in these countries. These transformations include, but they are not limited to, shifts in economic and social policy. They also encompass the structure of property, the modality of insertion of the country into the international economy, and the domestic forms of exploitation and social domination. The political counterpart of these processes is the limitation of the domestic political sphere through the insulation of ?markets? and investors from social accountability and the imposition of a stronger imperative of labour control, allegedly in order to secure international competitiveness.

These economic and political shifts have reduced the scope for universal welfare provision and led to regressive distributive shifts and higher unemployment and job insecurity in most countries. They have also created an income-concentrating dynamics of accumulation that has proven immune to Keynesian and reformist interventions. This book examines these challenges and dilemmas analytically, and empirically in different national contexts.

This edited collection offers a theoretical critique of neoliberalism and a review of the contrasting experiences of eight middle-income countries (Brazil, China, India, Mexico, South Africa, South Korea, Turkey and Venezuela). The studies included are interdisciplinary, ranging across economics, sociology, anthropology, international relations, political science and related social sciences. The book focuses on a materialist understanding of the workings of neoliberalism as a modality of social and economic reproduction, and its everyday practices of dispossession and exploitation. It will therefore be of particular interest to scholars in industrial policy, neoliberalism and development strategy.

Karl Marx's writings provide a uniquely insightful explanation of the inner workings of capitalism, which other schools of thought generally have difficulty explaining. From this vantage point, Marx's works can help to explain important features and economic problems of our age, and the limits of their possible solutions. For example, the necessity and origin of money, the growth of the wage-earning class, uneven development, cycles and crises, and the relevant impoverishment of the workers, leading to debt and overwork. The Value of Marx demonstrates that: *capitalist production necessarily involves conflicts in production and in distribution *competition is an essential feature of capitalism, but it often generates instability, crises and unemployment, showing that capitalism is not only the most productive but also the most systematically destructive mode of production in history *capitalist economies are unstable because of the conflicting forces of extraction, realisation and the accumulation of surplus value under competitive conditions. The instability is structural, and even the best economic policies cannot avoid it completely. The author critically reviews the methodological principles of Marx's value analysis and the best known interpretation of his value theory. He develops an interpretation of Marx focusing primarily upon the processes and relations that regulate social and economic reproduction under capitalism. When analysed from this angle, value theory is a theory of class and exploitation. The concept of value is useful because, among other reasons, it explains capitalist exploitation in spite of the predominance of voluntary market exchanges. The most important controversies in Marxian political economy are reviewed exhaustively, and new light is thrown on the meaning and significance of Marx's analysis and its relevance for contemporary capitalism.

This book offers an analysis of the causes, development, and likely consequences of the Covid-19 pandemic for global neoliberalism. The analysis will draw upon the author's previous work on neoliberalism, and on its twin crises: the economic crisis (the Global Financial Crisis (GFC), ongoing since 2007) and, subsequently, the crisis of political democracy that has been associated with the rise of 'spectacular' authoritarian leaders in several countries. The approach is grounded on Marxist political economy. The book argues that the Covid-19 pandemic emerges out of this context of deep inequalities and crises in the economy and in politics, and it is likely to reinforce the exclusionary tendencies of neoliberalism, with detrimental implications both for economic prosperity and for democracy. In turn, the pandemic has revealed the limitations of neoliberalism like never before, with implications for the legitimacy of capitalism itself, and opening unprecedented spaces for the left. This book will be of interest to academics in economics, international relations, political science, political economy, sociology and development studies.

This Companion takes stock of the trajectory, achievements, shortcomings and prospects of Marxist political economy. It reflects the contributors' shared commitment to bringing the methods, theories and concepts of Marx himself to bear across a wide range of topics and perspectives, and it provides a testimony to the continuing purpose and vitality of Marxist political economy. Some of the contributions found here offer an exposition of basic concepts, accessible to the general reader, laying out Marx's own contribution, its significance, and subsequent positions and debates with and within Marxist political economy. The authors also offer assessments of historical developments to and within capitalism, and of its current character and prospects. Other chapters adopt a mirror-image approach of pinpointing the conditions of contemporary capitalism as a way of interrogating the continuing salience of Marxist analysis. As a whole, the volume analyzes Marxist political economy in three areas: the critique of mainstream economics in all of its versions; the critical presence of Marxist political economy within, and its influence upon, each of the social science disciplines; and, cutting across these, the analysis of specific topics that straddle disciplinary boundaries. This volume will inform and inspire a new generation of students and scholars to become familiar with Marxist political economy from an enlightened and unprejudiced position, and to use their knowledge as both a resource and gateway to future study.

'This expert guide to the political economy of Marx's Capital has always been the very best available' - David Harvey This brilliantly concise book is the classic companion to Karl Marx's most well-known work, Capital. In print now for over a quarter of a century, and translated into many languages, this new edition has been fully revised and updated, making it an ideal modern introduction to one of the most important texts in political and economic thought today. The authors cover all central aspects of Marx's economics. They explain the structure of Marx's analysis and the meaning of the key categories in Capital, showing the internal coherence of Marx's approach, and their relevance today. Marx's method and terminology are explored in detail, with supporting examples. Short chapters set out the significance of Marx's main concepts and can be grasped easily, making it a practical text for anyone with an interest in understanding Marx's magnum opus. Discussing Capital's relevance today, the authors keep abstract theorising to a minimum. This readable introduction highlights the continuing relevance of Marx's ideas in the light of the problems of contemporary capitalism.

This thorough and timely book collects essays on the political economy of Brazil, focusing on the federal administrations led by the Workers' Party (PT), under Presidents Lula and Dilma Rousseff. The essays examine the economic, political, and social aspects of these governments, and a whole spectrum of policies implemented - or not - between 2003 and 2016, with implications for the subsequent period up to, and including, the administration led by Jair Bolsonaro. What emerges from this examination is the inescapable recognition that those left leaning governments were neoliberal, but in different ways when compared with other administrations in Brazil's history. Their similarities and differences are examined in detail. Contributors are: Adalmir Antonio Marquetti, Alessandro Miebach, Alfredo Saad-Filho, Ana Paula Colombi, Andre Singer, Andreia Galvao, Armando Boito Jr, Barbara Fritz, Cecilia Hoff, Celio Hiratuka, Claudio Castelo Branco Puty, Cristhiane Falchetti, Daniela Magalhaes Prates, Denise Gentil, Eduardo Fagnani, Fabiano Santos, Fabio Luis Barbosa dos Santos, Glaison Augusto Guerrero, Guilherme Mello, Gustavo Codas Friedmann, Humberto Martins, Jose Dari Krein, Lena Lavinas, Lucas Salvador, Andrietta, Luiz Fernando de Paula, Luiz Filgueiras, Marcelo Arend, Patricia Rocha Lemos, Paula Marcelino, Pedro Cezar Dutra Fonseca, Pedro Mendes Loureiro, Pedro Paulo Zuluth Bastos, Pedro Rossi, Rafael Moura, Ruy Braga, and Soraia Aparecida Cardozo.

This book offers an analysis of the causes, development, and likely consequences of the Covid-19 pandemic for global neoliberalism. The analysis will draw upon the author's previous work on neoliberalism, and on its twin crises: the economic crisis (the Global Financial Crisis (GFC), ongoing since 2007) and, subsequently, the crisis of political democracy that has been associated with the rise of 'spectacular' authoritarian leaders in several countries. The approach is grounded on Marxist political economy. The book argues that the Covid-19 pandemic emerges out of this context of deep inequalities and crises in the economy and in politics, and it is likely to reinforce the exclusionary tendencies of neoliberalism, with detrimental implications both for economic prosperity and for democracy. In turn, the pandemic has revealed the limitations of neoliberalism like never before, with implications for the legitimacy of capitalism itself, and opening unprecedented spaces for the left. This book will be of interest to academics in economics, international relations, political science, political economy, sociology and development studies.

Brazil is the world's sixth largest economy, has played a key role as one of the 'pink wave' administrations in Latin America, and was also responsible for wrecking the US-sponsored proposal for a Free Trade Area of the Americas. It is also one of the few large countries where social spending has risen and the distribution of income has improved in the last thirty years. However, as protests during the World Cup in 2014 have shown, the country remains highly unequal, unmet social needs are vast and its infrastructure is precarious. Alfredo Saad-Filho and Lecio Morais review the paradox that is modern-day Brazil. Focusing on the period from 1980 onwards, they analyse the tensions between the two systemic transitions to have dominated the country: the political transition from military rule to democracy, and to neoliberalism. The authors show how these transitions had contradictory logics and dynamics, yet ultimately became mutually supportive as they unfolded and intertwined.

Political protests against neoliberal globalisation, corporate power and the inequities of contemporary capitalism are increasing all the time. Demonstrations in Seattle, Prague, Genoa and elsewhere have fuelled the debate on the possibility of a radically different future. This book is a collection of essays from some of the world's leading Marxist economists on the problems of globalisation and the evolution of modern capitalism. With contributions from Suzanne de Brunhoff, Ellen Meiksins Wood, Ben Fine, Simon Clarke, John Holloway and John Weeks among others, it provides a cohesive critique of the weaknesses of the existing system and puts forward a new agenda for anti-capitalist thought and action. Covering key issues such as globalisation, the nation state, money and finance, conflict and war, technological change, the environment, class struggle, economic crisis, capitalism in the Third World, the collapse of the USSR, and the transcendence of capitalism, this is an ideal introduction to some of the most pressing problems of our time.

Growth and Change in Neoliberal Capitalism brings together selected essays written by Alfredo Saad-Filho, one of the most prominent Marxist political economists today. This book offers a rich analysis of long-term economic development in the current stage of capitalism, the new relations of dependence between countries, the prospects for poor countries, and the progressive alternatives to neoliberalism. The volume also provides a detailed set of studies of the political economy of Brazil, tracking its achievements, tragedies, contradictions and limitations. An essential read for all those looking to understand the contemporary global economy.

Neoliberalism is the dominant ideology shaping our world today. It dictates the policies of governments, and shapes the actions of key institutions such as the WTO, IMF, World Bank and European Central Bank. Its political and economic implications can hardly be overstated. Yet there are obvious problems with the neoliberal project. This book is a perfect introduction to neoliberalism that is ideal for anyone seeking a critical perspective. It explains the nature, history, strengths, weaknesses and implications of neoliberalism from the point of view of radical political economics. Short, self-contained chapters are written by leading experts in each field. The books is organised in three parts: the first section outlining neoliberal theory, the second exploring how neoliberalism has affected various policy areas, and a third looking at how neoliberal policies have played out in particular regions of the world. Using a broad range of left economic perspectives, from post-Keynesian to Marxist, this is a great resource for students of politics and economics, and anyone looking for a grounded critical approach to this broad subject.

The contributors to this volume draw on a non-dogmatic Marxist approach to explain the systemic and conjunctural dynamics of crisis inherent in global capitalism. Their analysis asks what is historically specific to capitalism's crises while avoiding catastrophic or defeatist claims. At the same time the volume situates left agency within actual patterns of resistance and class struggle to clarify the potential for transformative change. The cycle of resistance strengthened by the World Socal Forum and transnational activism is now punctuated by the experience of the Arab Spring, the agency of anti-systemic movements, left think tanks, the Occupy Wall Street Movement, labour unions, left parties in Europe such as Syrizia and Podemos and peoples' budgeting in Kerala, India. On the down side, we are witnessing the waning of the Workers Party in Brazil and serious challenges for South Africa's once powerful labour movement and still formative social justice activism. All these developments are assessed in this volume. This is the second volume in the Democratic Marxism series. It elaborates on crucial themes introduced in the first volume, Marxism in the 21st Century: Crisis, Critique and Struggle (edited by Michelle Williams and Vishwas Satgar).

Brazil is the world's sixth largest economy, has played a key role as one of the 'pink wave' administrations in Latin America, and was also responsible for wrecking the US-sponsored proposal for a Free Trade Area of the Americas. It is also one of the few large countries where social spending has risen and the distribution of income has improved in the last thirty years. However, as protests during the World Cup in 2014 have shown, the country remains highly unequal, unmet social needs are vast and its infrastructure is precarious. Alfredo Saad-Filho and Lecio Morais review the paradox that is modern-day Brazil. Focusing on the period from 1980 onwards, they analyse the tensions between the two systemic transitions to have dominated the country: the political transition from military rule to democracy, and to neoliberalism. The authors show how these transitions had contradictory logics and dynamics, yet ultimately became mutually supportive as they unfolded and intertwined.

Value and Crisis brings together selected essays written by Alfredo Saad-Filho, one of the most prominent Marxist political economists writing today. Divided into two parts, "Essays on the Theory of Value" and "Essays on Contemporary Capitalism," this book examines the labour theory of value from a rich and innovative perspective from which fresh insights are derived. In this volume, Saad-Filho cogently discusses the nature of neoliberalism, financialisation, inflation, monetary policy, the contradictions, limitations and crises of contemporary capitalism, and more.