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The rise of both negative and positive externalities together with their growing interference in transaction cost--and therefore in the institutions charged with minimising their cost--are substantial trends. Political economy can no longer report them merely in passing, without saying more, as if …

[...] Taylorism in the organisation of work and Fordism in the wage levels of workers. Then the Keynesian compromise, in other words vigorous counter-cyclical operations conducted via government spending and the maintenance of wage increases within the margins of productivity increases. This challe…

From 1975 onwards the pace of economic growth in the developed countries slowed considerably. It fell by at least half and found itself back at the levels prevailing prior to the 'thirty glorious years'. In some years there was virtually zero growth, a situation that would have been unthinkable in …

[...] Over the last thirty years or so it has become standard wisdom, both inside and outside business, that capitalism requires the appliance of more and more brain power in conjunction with information technology--the construction of collective intelligence in order to run complex operations, in …

This relentless focus on intersubjective, interpersonal relations between individual members of different classes completely overlooks the ways in which capitalism operates as a system of objective social relationships. As Ellen Meiksins Wood has argued, the universal market dependence that defines…