Out of the closet: the political economy of neo-classical distribution theory

Article Abstract:

The neo-classical distribution theory presents the idea that the measures of marginal productivity are objective and are neither arbitrary nor socially constructed. The structure of the theory rests on several assumptions, among which are that technology and its development are not shaped by social factors in production, that the elements of production are separable and measurable and that market competition is perfect, which divests labor and capital of their power. The removal of these assumptions would place marginal productivity within the social construct which determines its assessment.

Social aspects, Models, Analysis, Distributions, Theory of (Functional analysis), Theory of distributions, Distribution (Economics), Business economics, Managerial economics, Marginal productivity

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Exports and economic growth in Africa: a note on the causality question

Article Abstract:

Export-oriented policies have been found to spur economic growth in countries such as South Korea, Taiwan and other newly-industrializing countries. Such policies are founded on neo-liberal trade assumptions advocated by the World Bank and the International Monetary Fund. However, the African experience has shown that export growth does not necessarily lead to economic growth. Since the 1970s, when export-oriented policies were implemented in Africa, the continent remains mired in severe poverty, malnutrition, starvation, periodic famine and underdevelopment.

Economic aspects, International Monetary Fund, Exports, Economic policy, World Bank, Africa

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Conceptual collapses: a note on value-form theory

Article Abstract:

The value theory is an important consideration in any discussion of Marxist economics. Radical economist Pichit Likitkijsomboon has criticized three recent developments in the value theory. However, Marxist economists must do more than adhere to a particular theory. They must also try to develop theories such as the value theory. In so doing, they contribute significantly to the development of Marxist economics as a whole.

Evaluation, Marxist economics

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