Value without Fetish

Lange, Elena Louisa

doi:10.1163/9789004449909

Cited by 5 publications

(1 citation statement)

References 34 publications

(49 reference statements)

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“…However, the level of investment is regulated by profitabilitymoney-profit is the barometer and compass for investment decisions, as high profit rates attract investment while low rates deter investment. As Marx argued, it is the labour-time (or labour value) expended in the production of goods and services that regulates the money and profit phenomena (Marx, 1976;Shaikh, 1978); hence, money itself cannot create value but is the symbolic representation of this value (Lange, 2021).…”

Section: The Law Of the Tendency Of The Rate Of Profit To Fallmentioning

confidence: 99%

Military spending and economic development: A theoretical note

Watterton

2023

Human Geography

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Eisenhower once highlighted the growing undemocratic influence of the ‘military-industrial-complex’ (1961) and the enormous opportunity cost associated with it (1953). Since the late-1990s, military spending around the world has been growing but, despite its overall significance, research on it has not followed suit. There remains no consensus on the economic effects of military spending, both in the sense of economic dynamism and whether it ‘crowds-out’ other forms of state spending, like welfare spending. Understanding such primarily depends on how the relationship between the economy and the state is theoretically understood. The present paper outlines in brief three theoretical schools on the state-economy nexus, ultimately arguing that state-backed military spending should be situated as a countertendency to the ‘law of the tendency of the rate of profit to fall’.

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Section: The Law Of the Tendency Of The Rate Of Profit To Fallmentioning

confidence: 99%