A Political Economy of Contemporary Capitalism and its Crisis

Notes

1 The parasitic absentee owner in the Keynes–Veblen–Proudhon tradition

1 In this section we shall just provide a general outline without entering into a thorough discussion of classical political economy. For more on this issue, see Milios et al. (2002), Postone (2003), Heinrich (1999), and Arthur (2002).

2 Hence, the value of a commodity (as a characteristic or property of the “economic good”) derives from labor and (quantitatively) is proportional to the labor time which has been expended on its production.

3

As soon as land becomes private property, the landlord demands a share of almost all the produce which the labourer can either raise, or collect from it. His rent makes the first deduction from the produce of the labour which ...