By Luciano Vasapollo
This e-book is a compendium of a complete treatise of utilized economics released in Italian through Jaca Books in 2007. It incorporates a variety of adjustments and updates, and a brand new part at the contradictory relation of capital to nature, intrinsic to the basic clash among capital and labour. The context for the research supplied of the dynamics of the capitalist improvement of the forces of creation is the worldwide financial system, or capitalism as an international process.
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Additional info for Crisis of Capitalism: Compendium of Applied Economics (Global Capitalism)
Unemployed and paupers are in contrast with those holding a stable employment to conquer or maintain a form of survival. The “laboursellers,” always and necessarily in excess, are in permanent competition among themselves. Synthetically, it is possible to affirm that in the 1844 Manuscripts, Marx indicated the historicity of production’s relationships and perceived the “contradictory” character of capitalist society. In that moment, by the way, he still lacked a Marxian economic theory that could give a reason to these contradictions and could explain the working of capitalist society.
Therefore, some basic notions of economic theory about investment, employment, trade, international relations, the economic role of State, will be introduced, to show how these concepts are translated into the historical dynamics of capitalism. So, we discuss the concept of quantitative economic growth, technological revolution, neoliberal globalization, the role of transnational and multinational corporations,4 without omitting the 4 Although later in the text the term “multinationals” will be used, we have to clarify that in this enterprise the parent company has a dominant role in strategic decision-making, while transnational companies combine coordination needs with the needs of autonomy of the whole experiences by their branches, addressed to the dynamics of integration and aimed at the exchange of knowledge, products, services.
For this reason, in several attempts to construct both a science of economics and a critique of the economy, a partial knowledge of capitalism leads down the wrong direction. A substantial part of the problem is the lack of understanding the rules of the game rules in a society where power is distributed according to how much money people have, generating at the same time an ideology claiming that power is distributed according to the innate abilities. For this reason, economists of the “partial phenomenon” are experts in explaining what has already happened.