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Title
How labor powers the global economy: a labor theory of capitalism / Emmanuel D. Farjoun, Moshé Machover, David Zachariah.
ISBN
9783030933210 (electronic bk.)
3030933210 (electronic bk.)
3030933202
9783030933203
Imprint
Cham, Switzerland : Springer, 2022.
Language
English
Description
1 online resource.
Other Standard Identifiers
10.1007/978-3-030-93321-0 doi
Call Number
HD4901
Dewey Decimal Classification
331
Summary
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.
Bibliography, etc. Note
Includes bibliographical references and index.
Access Note
Access limited to authorized users.
Source of Description
Online resource; title from PDF title page (SpringerLink, viewed April 21, 2022).
Series
New economic windows.
Available in Other Form
Print version: 9783030933203
1 Introduction and major propositions
Part I Foundations
2 Production and labor
3 Probabilistic framework
4 Labor content properties and postulates
Part II Results
5 Law of decreasing labor content
6 Wages and class divisions
7 Limits to growth and accumulation
Part III Futures
8 Limits to capitalist development
9 Open problems of transition
Appendix A: Open Theoretical Problems
Appendix B: Technical Appendix
Glossary.
