How Labor Powers the Global Economy : A Labor Theory of Capitalism - New Economic Windows

This book presents a probabilistic approach to studying the fundamental role of labor in capitalist economies and develops a non-deterministic theoretical framework for the foundations of political economy. By applying the framework to real-world data, the authors offer new insights into the dynamics of growth, wages, and accumulation in capitalist development around the globe. The book demonstrates that a probabilistic political economy based on labor inputs enables us to describe central organizing principles in modern capitalism. Starting from a few basic assumptions, it shows that the working time of employees is the main regulating variable for determining strict numerical limits on the rate of economic growth, the range of wages, and the pace of accumulation under the present global economic system. This book will appeal to anyone interested in how the capitalist mode of production works and its inherent limitations; in particular, it will be useful to scholars and students of Marxian economics.

ISBN:	9783030933203
Publisher:	Springer International Publishing
Imprint:	Springer
Published date:	13 Apr 2022
DEWEY:	331
DEWEY edition:	23
Language:	English
Number of pages:	152
Weight:	424g
Height:	235mm
Width:	155mm
Spine width:	11mm

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