Category: Political Economy

Choose the future, choose socialism.

Date: March 10, 2019Author: Paul Cockshott 1 Capitalism Class society The most important thing about capitalism is that it is a class system. It is a society based on class hierarchy dominated by a rich upper class. Like any class system it is unequal. Like any class system it is based on exploitation, on majority working Read More

Calculating Slave Reparations in Dollars

Date: September 9, 2019Author: Paul Cockshott Last week I discussed the issue of slave reparations in the USA in the abstract. I now want to look at it more concretely, to put figures to it. I will be analysing just how much surplus labour was plausibly extracted from slaves in the USA from shortly after Read More

No to carbon taxes!

Date: May 6, 2019Author: Paul Cockshott I have produced a couple of videos recently on the danger posed by global warming. This is something that I have been concerned with since about 1977 when I wrote a report for the shop stewards committee at GEC Trafford Park, called Workers’ Power. It was for the shop Read More

Fossil fuel and the ebbing of globalisation

Date: April 18, 2017Author: Paul Cockshott n the social production of their existence, men inevitably enter into definite relations, which are independent of their will, namely relations of production appropriate to a given stage in the development of their material forces of production. The totality of these relations of production constitutes the economic structure of Read More

Energy, Science and Capitalism

Date: September 1, 2016Author: Paul Cockshott Were fossil fuels necessary? Read moreFirst MTT PodcastDid capitalism itself generate its own technical advances? Why was energy so vital to the development of capitalism? Read moreThe role of computerisation in planned economiesFundamentally it is because by substituting inanimate energy for human muscle, the amount of human time and Read More

Why no Roman industrial revolution?

Date: July 28, 2017Author: Paul Cockshott In my last post I repeated Marx’s phrase the the hand mill gave you the feudal lord the steam mill the industrial capitalist. One reader objected that this overstated the role of technology and that steam power was already known to the Romans. I concede that Marx over simplified. Read More

Input-output or Harmony planning

Date: May 14, 2019Author: Paul Cockshott In corresponding with readers it has become clear that in TNS we did not perhaps do a good enough job of explaining the relative roles of input-output techniques and the Harmony planning technique which we proposed. The input-output method is defined in terms of flows. If you look at Read More

Short note on the rate of profit

Date: November 1, 2019Author: Paul Cockshott We know that the share of wages in national income is relatively stable in the range 40% to 60% If follows from this that the share of surplus also is stable in this range. It also follows that the magnitude of surplus must be strongly correlated with the size Read More

3 Bad Objections To the labour theory of value

Date: September 5, 2019 Author: Paul Cockshott Read moreFirst MTT PodcastSince various economics professors noticed that Marxists had been publishing articles showing, from empirical data, that the labour theory of value was right[ 5,3,4,6,1 7,2  ], they have felt the need to come up with objections. Whilst in the past the objections economists raised to Read More

Land Nationalisation and Rent

Date: August 27, 2019 Author: Paul Cockshott Read moreFirst MTT PodcastAnyone familiar with the Communist Manifesto will remember that one of its demands is for the nationalisation of land and the allocation of land-rent to fund public purposes. The objective was spelt out in more detail in the Demands of the Communist Party In Germany Read More

1 2 3