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      A RE-CONCEPTUALIZATION: INTERNAL CONTRADICTIONS OF CAPITAL AND THE SHIFTS WITHIN SURPLUS VALUE

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            Abstract

            The article aims to show that the capitalist mode of production has begun to lose its productivity and historical base due to the rising domination of unproductive capitals at the expense of capital in general and that such a self-destructive process should be explained as the result of the declining productivity of capitalism (not capital productivity), which is embedded in the definition of capitalist commodity production and surplus rather than the tendential fall in the rate of profit. It argues that such a structural problem cannot be solved thanks to the newly industrializing regions in the world. The article re-conceptualizes the internal contradictions and dynamics of capital as well as Lenin's conception of finance capital.

            Content

            Author and article information

            Journal
            worlrevipoliecon
            10.2307/j50005553
            World Review of Political Economy
            Pluto Journals
            2042891X
            1 July 2011
            : 2
            : 2
            : 205-218
            Article
            10.2307/41917734
            8a00e290-4d19-4c62-bec6-485ee80fb161
            © WORLD ASSOCIATION FOR POLITICAL ECONOMY 2011

            All content is freely available without charge to users or their institutions. Users are allowed to read, download, copy, distribute, print, search, or link to the full texts of the articles in this journal without asking prior permission of the publisher or the author. Articles published in the journal are distributed under a http://creativecommons.org/licenses/by/4.0/.

            History

            Political economics

            Notes

            1. E. Gündogan, A Theory of Capitalist Urbanization: David Harvey (Vdm Verlag, 2009), E. Gündogan, Marxian Theory and Socialism in Turkey: A Critique of the Socialist Journal Aydinlik (Vdm Verlag, 2009).

            2. S. Mohun, "Productive and Unproductive Labor in the US Economy: Does the Distinction Matter? A Reply to Houston and Laibman," November 1999, www.countdownnet.info/archivio/teoria/432.pdf (accessed 3/25/2011); F. Moseley, "Marx's Economic Theory and Contemporary Capitalism," www.nodo50.org/cubasigloXXI/congreso/ moseley_10abr03.pdf (accessed 3/25/2011); M. E. G. Smith, "Causes and Consequences of the Global Economic Crisis: A Marxist-Socialist Analysis," 2008, www.bolshevik.org/economics/2008- 1l-25_EconomicCrisis.pdf (accessed 3/25/2011).

            3. S. Mohun, "Productive and Unproductive Labour and the Profit Share in the U.S. Economy, 1964-2001," revised version, May 5, 2004, www. actuelmarx.u-paris10.fr/USProfitShare.pdf (accessed 3/25/2011); S. Mohun, "Distributive Shares in the US Economy, 1964-2001," Cambridge Journal of Economics 30 (2006), 347-370, http://gesd.free.fr/mohun6.pdf (accessed 3/25/2011).

            4. J. Petras, "World Depression: Regional Wars and the Decline of the US Empire, Part I," www.globalresearch.ca/index. php?context=va&aid=12955 (accessed 3/25/2011).

            5. K. Marx, Capital—A Critique of Political Economy, Vol. 1 (Penguin Classics, 1990), p. 1048.

            6. Marx, Capital, Vol. 1, p. 1048.

            7. K. Marx, Works of Karl Marx 1847, Wages, www.marxists.org/archive/marx/works/1847/12/31. htm (accessed 3/15/2011).

            8. Marx, Capital, Vol. 1, p. 126.

            9. Ibid., p. 1038.

            10. Ibid., p. 644.

            11. Ibid., pp. 48-482.

            12. Ibid., p. 1047.

            13. Ibid., p. 1048.

            14. V. I. Lenin, Imperialism, the Highest Stage of Capitalism, A Popular Outline, www.marxists.org/archive/lenin/works/1916/imp-hsc/index.htm (accessed 3/25/2011).

            15. K. Marx, Capital, Vol. 3 [Penguin Classics, 1991], p. 317 Marx, Capital, Vol. 3, p. 318 Marx, Capital, Vol. 3, pp. 322-324, 326, 328-330, 337-338, 346.

            16. K. Marx, Contribution to the Critique of Political Economy, www.marxists.org/archive/marx/ works/1859/critique-pol-economy/preface.htm (accessed 2/8/2010).

            17. "Real Values, Futures and the Future of Capital" in my recent book, Stream of Connections Through Power, Time, Space and Value (2011).

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