retired professor of political economy;
usually looking for trouble;
specialist in unfinished business;
questioning: is there life on Marx?
heretic among ekons
Rossana Rossanda died tonight. She has been a towering figure in the Marxian left, one of the founders of il manifesto, and she has been quite influential in my theoretical and political education.
On September 14, 1867, the first volume of “Das Kapital”, written by Karl Marx, is published in Hamburg in its first edition.
As
@hugocerqueira
reminded, copies were already circulating since Sept. 11.
More tweets may follow on Erste Band, later. Or may be not.
“Marx’s abstraction is not an invention. It is a discovery. It does not exist in Marx’s head but in market economy. It has not an imaginary existence, but a real social existence, so real that it can be cut, hammered, weighed, and put in the form of money. ….”/1
This is the English version of the postface by Massimiliano Tomba and myself to the Italian translation of the best book on
#operaismo
by Steve Wright, discussing of course also
#MarioTronti
. It is included in the second edition of Storming Heaven.
From H.P. Minsky’s “Beginnings”, a 1985 autobiographical article. I read it in front of my dept colleagues two years ago, the year of the centenary + the year they succeeded in destroying any last remnant of a decent curriculum. Even “heterodox” people found that “inappropriate”.
Afterword to Italian transl. of Steve Wright's book on Italian workerism (Storming Heaven, Pluto). Presented at HM London Conference "Many Marxisms‟ (7–9 Nov. 2008). Transl. by S. Wright. Included in 2nd edition of Storming Heaven.
#toninegri
#operaismo
By chance I stumbled upon this great quote by China Miéville: 'The unluckiest books are those ignored or forgotten. But spare a thought too for those fated to become classics. A classic is too often a volume that everyone thinks they know.'/1
As part of their effort towards multidisciplinarity, the "Research and Outreach Center for the Criminal Sciences"
@cpeccfdusp
,
#S
ãoPauloUniversity, Brazil, organizes a short course on
#MarxistPoliticalEconomy
by Prof.
#DuncanFoley
. More information in the flyer below.
"Work and love, love and work - that's all there is" (possibly said by Freud).
After Karl, yesterday, happy birthday today to Sigmund: who, by the way, died in Hampstead.
Courtesy of the co-editor Tommaso Redolfi Riva*, the cover, the backcover, and the table of contents of Marx’s Key Concepts,
@Elgar_Economics
*the one who actually made this book possible.
Harcourt 1982 discussed why Sraffa chose to write his 1960 book in such sparse prose. Possible reasons: (i) 1938 Keynes-Sraffa edition of Hume; (ii) Wittgenstein's Tractatus. He asked Sraffa, who replied: "I don't like writing, so I wrote the book in as few words as possible."
#Sraffa
was born in Turin today in 1898. Napoleoni commented in 1988: “To say what Sraffa’s cultural project was which he pursued with persistence and extreme coherence through the whole of his life both in practical behaviour or in theoretical work, I would put it in this way./1
Soon to appear in Italian translation, a classic of
#Marxian
#critiqueofpoliticaleconomy
: Die Wissenschaft vom Wert (La Scienza del Valore, The Science of Value) by
#MichaelHeinrich
. Translated by Stefano Breda, introduced by me. New introduction by the author. Cover + backcover.
Finally the English translation (by Alexander Lo Cascio) of Michael Heinrich’s book on How to read Capital is out. When writing down my Lectures this will be (for me) compulsory reading.
A few days ago
#MichaelALebowitz
passed away.
I began my studies in economic theory in 1973-74, so his paper in Science & Society* was one of my first readings.
I then met him at an ISMT meeting where he intervened on Marx’s missing book on wage labour.
#Tronti
in socials is "freezed" in 1966. In an interview he said: «never write a successful book when you are young. You stay that way all your life.» To understand why *Operai e capitale* is at the origin of later errors this is the article to be read.
Another great loss. Domenico Mario Nuti died.
Let me remind:
"Vulgar Economy in the Theory of Income Distribution", 1970, De Economist
"The Contradictions of Socialist Economies: A Marxian interpretation", 1979, Socialist Register.
Editor of Dmitriev Economic Essays in 1974.
I was born 1953 at 19.19 pm. My mother & father were born in 1919. Rosa Luxemburg - I did my dissertantion on her with Napoleoni - died in 1919. 42 years ago I met Minsky: he was born in 1919. His parents met at a 1918 gala ball, in honour of Karl Marx's bicentenary.
3 years ago today, at a conference in Rome, the session with Michael Heinrich (Transformations of Marx’s Capital) and me (Dialectics, socialisation and money in Marx), chaired by Luca Basso. The proceedings have been published this year.
Leo Panitch died for covid in the hospital. He was one of the left wing intellectuals from whom I learnt so much. Very often thinking outside the usual paths.
I just heard that Leo Panitch died. He was diagnosed with multiple myeloma and caught covid in the hospital.
I loved that guy as thinker, comrade, and friend.
This year sucks.
'The SAGE Handbook of Marxism' will be released in December 2021 and includes a chapter entitled 'The Transformation Problem' by Andrea Coveri and me. Original title of chapter: Exploitation. But there was too math in it, so ...
.
A common error in Marxists is to think that "money as a commodity" in *Capital* is a dispensable historical assumption about the setting of the monetary system. No: it has to do with value theory, and it's essential. Unless Marx's macro *value theory of labour* is reconstructed.
First proofs of
@Heinrich
's Die Wissenschaft vom Wert (The Science of Value) in Italian.
Below: The Table of Contents.
It will be long, but for the end of the Summer the book should be there ...
The original was 3 times longer, with questions by Gonçalo Fonseca. I discussed in more detail the theory of the monetary circuit, its old version, the connection of that and of Minsky with Marx, my long term view of capitalist development and of crisis.
Fighting Neoliberalism with Keynes & Minsky?
In this week's
#NewEconomicThinking
episode
@r_bellofiore
explains how risk has been shifted from firms to traumatized workers and indebted consumers. He proposes a new approach to achieve a better future:
This may be the day to suggest you read two things of mine on Marx (possibly in this order):
Forever young? [Alternate title: Is there life on Marx?]
The Adventures of Vergesellschaftung [longer version as an Italian book].
A few weeks ago I had a discussion with Mariana Mazzucato on the socialisation of investment (from Keynes to Minsky and beyond) at UCL Institute for Innovation and Public Purpose.
This promises to be one of the *very* important books of the 2020s.
Though I have already a big critique. The modern world is ruled by a
#ghost
, not a
#spectre
... 🥸
This is a good day to remember that
#MichaelHeinrich
's Italian translation edited by Stefano Breda and me is at the printing stage.
It will be out *mid-October* (I don't know the exact day nor the price, so don't ask: but start breaking your piggy bank). You will be posted. /1
Thanks to
@Lprochon
I knew that today at 44 Kensington Park Gardens a blue plaque was installed on
#JoanRobinson
’s home where she lived when she was a young girl. With Jan Toporowski we were there. So I could meet the daughter, Barbara. This is a photo documentation.
The entry on
#geoffharcourt
written by himself in the Arestis-
@SawyerMalcolm
dictionary of dissenting economists is fascinating reading. He concludes about the purpose of economics, in this way: «to make the world a better place for ordinary men and women, /1
Youtube video of the Seminar by
#MichaelHeinrich
about "The Science of Value 25 years later". The talk was held on 27 February 2024 as part of the Postgraduate Course in Critical Theory of Society at the University of Milan-Bicocca.
Why would be a good idea to learn Italian? To listen my lectures on Capital I, on youtube. Maybe you discover things that are not elsewhere (e.g., Harvey, Heinrich, etc.). If I finish a never-ending book on Marx in Eng., I will write them down in Italian.
Discussion (in English) about the Italian translation of
#MichaelHeinrich
's the
#ScienceofValue
(La scienza del valore, *Die Wissenschaft vom Wert*) at Villa Mirafiori, Rome.
I am almost sure I'll find a lot to discuss in this new translation of
#DasKapital
Erster Band (
#Capital
|) by Princeton U.P.. I am absolutely sure it will be a scholarly effort and a worthwhile addiction to the mission impossible of translating
#Marx
. II
Routledge Handbook of Marxism and Post-Marxism (forthcoming), eds
@alex_callinicos
,
@LuGuangMing
& Stathis Kouvelakis. With a chapter of mine on
#Rubin
, considering some of the new material included in Day & Gaido Responses to Marx's Capital.
Reading about Wal Suchting (one of my intellectual references) I found that somebody said: 'Avoid this man like the plague’. I'm sure 99,9% of my colleagues (plus others) think the same about me. After all, I must have done something good in my life. Officially retired today.
My forthcoming article in ROPE, likely the last published thing of mine for a long time. Beginning from the discussion of Draghi,
@adam_tooze
+ Kregel, I go into European economic policy, the origin of macro after WWI + New Deal, the meaning of a “social production economy”.
Socialist Register Archive is open for consultation and download, honouring Leo Panitch:
There you find also (SR 2011: The crisis this time) a paper by Garibaldo, Halevi and me on the global crisis and European Neomercantilism
Le week-end de la semaine prochaine je serai à Paris pour parler de l'opéraïsme à l'occasion de l'édition française du livre de Steve Wright, qui inclut la traduction de la postface que j'ai écrite avec Massimiliano Tomba pour Edizioni Alegre. Dans le flyer jour, heure, adresse.
Online course on Monetary Theory and Policy, organised by Denis Melnik for the Centre for the History and Methodology of Economic Science.
Speakers: Sergio Cesaratto, Noemi Levy Orlik, Jan Toporowski and yours truly.
Probably my copy is somewhere in my university, 30 km from my lockdown. I must wait to be surprised by the typos I didn't find and didn't correct in my entry on Isaak Ilic Rubin. But for now it looks gorgeous (and expensive).
The Routledge Handbook of Marxism and Post-Marxism, edited by
@LuGuangMing
, Stathis Kouvelakis, and myself has arrived, just when the need for more Marxism has been dramatically demonstrated!
Yesterday was Luxemburg’s birthday (it should be pronunced in the German or Polish, not in the Anglosaxon, way, as everybody does). I made my dissertation on her, 1975-76. Why? I was reading Frölich’s biography, and at the chapter ‘A candle burning at both ends’./1
At HM I'll talk abt
#absolutevalue
. There is no understanding of
#Marx
without it. My questions: WHAT IS IT? Is it the same as
#intrinsicvalue
? What is its role? Who are the best interpreters? If you come, we may discuss my answers. If not, wait when I publish my paper(s?) on it.
1st edition's 1st chapter + appendix are essential to understand Capital. Some things are better than in later editions. This quote is key to grasp Marx's *real* abstraction. It does not just 'sound' like Hegel, it *is*: and simultaneously a critique of him. And I fully agree!
MARXIAN RANTS.
This *may be* a long-time series. I saw somewhere that
@edwad
called me NML-adjacent. I like the adjective "adjacent". Say, I'm more early NML-adjacent than Heinrich. But I'm also poli-adjacent (as in poli-amorous)./1
A link about free online courses ("stolen" from
@adam_tooze
's Chartbook). Well, there's not indexed my course on Das Kapital Volume I - the lame excuse may be that it is in Italian.
#FredricJameson
turns 90 today. I am honoured to discuss with him
#Marx
's
#Capital
at a conference in Rome which will be held May 28-29. Though the first article I read from 40 years ago was about
#BodyHeat
and the cultural logic of
#postmodernism
...
I checked Marx's original + translationS, + Heinrich's original (you'll see why). MH is accurate on basic distinction erscheint (appears) and scheint (seems), and meaning of the latter. "By using the verb scheinen, Marx *distances* himself from an 'obvious' conclusion./4
In London since yesterday, once again following Marx's footsteps. Coming from Italy, it's scary how nobody around seems to know what a mask is and how you can enter in closed spaces without any control.
It's funny how the power by banks to create money ab ovo* (ex nihilo*) - i.e., what made capitalism interesting for
#Marx
,
#Schumpeter
,
#Keynes
,
#Minsky
, is so problematic for economists, all wishing to have capital without speculative positions.
* yes, you have to learn Latin
Publication of
#firstvolume
of
#Marx
's
#DasKapital
was announced by Börsenblatt des deutschen Buchhandels on 14 September 1867. Delivery by printers began on 11 September, First copies arrived in London on 17 September. September 1819/ Marx sent copies to close friends./1
Seriously: remind me why nowadays everyone says
#activist
, instead of
#militant
?
Even
#Marxians
and
#progressives
.
Yes, it sounds nicer.
But since the late 1960s I realised we are living in a
#classwar
.
Nothing has made me change my mind.
May be I'm a slow learner.
"When I translated it ("Karl Marx"), I tried to employ the traditional expressions of the American way of speaking, that is I tried to convey the learned thought of Marx, Hegel, etc., in a form in which, actually, it cannot be expressed."
Korsch to Brecht, 13.11.1942
In my there is a section with videos from teaching. They are from the courses that Randy Wray (Advanced Macroeconomics) and Jan Toporowski (International Monetary Economics) did under my sponsorship. They are going to disappear soon from the web. /1
My talk at King's on ABSOLUTE VALUE, a key Marx's notion almost unknown in the English debate, is now on youtube, summarising a forthcoming big chapter in a co-edited book with Redolfi Riva (& a much longer draft). I had to cut all my "reconstructive" part, but it may be useful.
"The essence of capital is the control over working conditions in order to obtain the maximum profit used to multiply capital and to extend control over production. Large joint-stock companies have defeated (eliminated or limited) companies managed by individual capitalists and/1
Another funny thing is that Marxists quote de Brunhoff (original edition 1967) on money and never (never) the book on state capital and economic policy, almost a decade later: which is a substantial conceptual development also on money. In French there is much more, of course.
Finally at a reasonable price the collection of writings by
#AmadeoBordiga
edited and introduced by Pietro Basso. The substantial long introduction in itself is worthwhile, giving a balanced overview of this controversial figure.
Presentation by Peter Hudis (& Rida Vaquas, Sandra Rein, Julia Damphouse, Ben Lewis) of a few volumes of the Complete Works of
#RosaLuxemburg
at
#HistoricalMaterialism
2022 in London./1
The commodities do not become commensurable through money. On the contrary. Only because all commodities, as values, are objectified human labour, and are therefore in and for themselves commensurable,/1
Customer: I would like to buy Das Kapital by Karl Marx.
Bookseller: Should I wrap it, or will you burn it here?
——
Cartoon by Altan, late 1980s - early 1990s. I used it in 1994 for the invitation to my Bergamo Conference on Capital, volume III.
From the Guardian 9/9/2022: “I discovered how Marx was interested in sustainability and how non-capitalist and pre-capitalist societies are sustainable, because they are realising the *stationary* economy, they are not growth-driven,” Saito said.
Something went deeply wrong.
Luigi
#Pasinetti
passed away. He was the last of the great generation of Italian economists 1950s-1980s. I suggest to read the 2016 paper by
#josephhalevi
, «Luigi Pasinetti and the Political Economy of Growth and Distribution»,
@INETeconomics
.
Again on the question raised by
@cacrisalves
. This wp made by various articles is very good. The interventions by
@JoMicheII
are excellent (unfortunately, the one on Schumpeter & Hayek is unpublished). Better grasp of circuitism than most circuitists!