Economics and Power

A Marxist critique

Häftad, Engelska, 2019

AvGiulio Palermo,Italy) Palermo, Giulio (University of Brescia

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In the economic debate, power is defined and studied mainly as an interpersonal relation occurring out of perfect competition. This is a consequence of the combination of methodological individualism and the assumption of competition as a natural and everlasting coordinating mechanism, operating without any sort of coercion. This methodology, however, is not adequate to analyze the forms of social coercion that characterize capitalism. Economics and Power criticizes the main theories of power developed in economic literature, analyzing ultraliberal contractualism to radical political economics, and ultimately suggesting a Marxist conception of power and coercion in capitalism. Palermo’s ontological argument is rooted in the philosophy of ‘critical realism’.This unique volume presents his main finding as being that the essential coercive mechanism of capitalism is competition. Capitalist power is not caused by a lack of competition, but by the central role it plays in this mode of production. Following this, the chapters reconstruct a Marxian conception of power where it is analyzed as a social relation and argues that perfect competition does in fact exist under the disguise of capitalist power. This book criticizes the construct of power and the underlying ideas surrounding perfect competition. This book is of interest to those who study political economy, as well as economic theory and philosophy.

Produktinformation

Utgivningsdatum2019-07-29
Mått138 x 216 x 10 mm
Vikt226 g
FormatHäftad
SpråkEngelska
SerieRoutledge Frontiers of Political Economy
Antal sidor180
FörlagTaylor & Francis Ltd
ISBN9780367250935

Tillhör följande kategorier

Företagsekonomi inom Ekonomi och ledarskap
Marxism och kommunism inom Samhalle och politik
Nationalekonomi inom Ekonomi och ledarskap
Ekonomisk politik inom Ekonomi och ledarskap
Ekonomisk historia inom Ekonomi och ledarskap

Foreword and acknowledgements1. IntroductionThe dimensions of power in social sciencesThe unidimensional view of power in economicsMethodological choices and ontological necessitiesHistorical materialism, exploitation and social coercionMarx's critique of capital and the critique of powerStructure of the bookPART I. POWER IN ECONOMICS2. The economic debate on powerThe contractual approach of Alchian and DemsetzWilliamson's transaction costs economicsThe property rights approach of Hart and MooreThe radical political economics of Bowles and GintisGolfberg's institutional perspectiveThe terms of the debate3. Power and post Walrasian economicsPost Walrasian economicsFrom Walrasian to post Walrasian economics The theoretical results of Walrasian economicsThe role of perfect competition in the debate on powerConclusions4. Power demystificationThe categories of post Walrasian economicsAs-if economic historyHistory and efficiencyFree contracting, imperfections and class relationsExchange without productionProduction, circulation, and the free trader vulgarisScientific research and cultural hegemonyConclusionsPART II. THE ONTOLOGY OF CAPITALIST POWER AND THE COERCIVE LAW OF COMPETITION5. Marx’s critique of capital and competitionCompetition in Marx's workTotal social capital and competition between individual capitals The origins of competitionCompetition and the contradictions of capitalThe development of competition and the process of capital subsumptionAssociation against competitionThe end of competitionBourgeois economics and the myth of perfect competitionConclusions6. Capitalism as a system of powerCritical realismCritical realism and Marxism The ontology of powerThe ontology of capitalist powerConclusions7. Final remarksScientific goals, methodology and ontologyFormal similarities within opposite conceptionsEconomists as servant of powerReorienting the struggle

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