Karl Marx’s economic theory, despite being one of the most comprehensive critiques of capitalism, has often been criticized for lacking the mathematical rigor associated with modern economic anal
Great Disappointment Revisited: Neoliberal Capture During and After COVID-19
I was surprised to learn from my friend Pascale Delpeche, the widow of the outstanding Yugoslav writer Danilo Kiš (rumor has it he was once considered for the Nobel Prize in Literature but passed
The United Nations: Balancing High Ideals and Harsh Realities
October 24th marks United Nations Day, commemorating the moment in 1945 when the UN officially came into being, following the ratification of its Charter by the majority of signatories, including t
The Nobel Prize for Institutions: A Critique of Acemoglu and Robinson’s Framework
Introduction On the same day the Nobel Committee announced its decision to award the 2024 Nobel Prize in Economics to Daron Acemoglu, Simon Johnson, and James A. Robinson for their work on institut
A Class Analysis of Russia’s Imperialism
First published at LINKS International Journal of Socialist Renewal In his interview “Political imperialism, Putin’s Russia, and the need for a global left alternative,” Ilya Matveev
Boris Kagarlitsky: China and Russia in the modern world-system — A dual challenge
This is one of those unique cases when I republish someone else’s article. But I feel compelled to do so. The article is written by my co-author Boris Kagarlitsky, currently serving a 5-year
The struggle for global hegemony (Re-reading Giovanni Arrighi)
Two-logic framework As Branko Milanovic has recently remarked, there are some famous books whose ideas have been so absorbed into social sciences that the books themselves are no longer read.
Reinvigorating Marx: A Critical Exploration of Value Theory in 21st-Century Capitalism
MARX’S VALUE THEORY IN A NEW ERA Capitalism in the Twenty-first Century Through the Prism of Value by Guglielmo Carchedi and Michael Roberts aims to explain 21st-century capitalism through Ma
Foreign Direct Investment: The Opium for Development
A Marxist Take on Investment Hopes Last week I presented our research (with Boris Kagarlitsky) at the annual meeting of the Armenian Economic Association in Yerevan. The research takes the Marxist
Russia’s Delinking from the West: The Great Equalizer
In this post, I discuss the recent trend towards more income equality in Russia. Mainstream economics explain it by the country’s transition to war economy. I apply Marxist analysis to demonstrat