Böcker av Jan Toporowski

In this 37th issue of the Research in Political Economy series, Jan Toporowski and leading experts offer a unique and insightful overview of Polish Marxism after Luxemburg, serving as an introduction to some key themes and the ideas of several Polish political economists.Polish Marxism after Luxemburg covers various ideas that emerged around the same period as Rosa Luxemburg was active, such as Ludwik Krzywicki who pioneered the study of monopoly finance capital and suggested the possibility of industrial feudalism. Chapters illustrate the current relevance of these thinkers and highlight the development from Polish Marxism of MichaA Kalecki and Oskar Lange, who went on to become one of the founders of what came to be called the Keynesian Revolution in macroeconomics and economic policy. After exploring the relationship of Kalecki to Marxism, through the work of Luxemburg. Polish Marxism after Luxemburg also illuminates a selection of Polish discussions in the political economy from the second half of the twentieth century, particularly in the circle of political economists around Oskar Lange, like WA odzimierz Brus and Tadeusz Kowalik.

This volume of intellectual biography records the work of Michal Kalecki's maturity: his work on monetary economics and the theory of profits;

The essays in this volume explain how financial inflation shifts banking and financial markets towards more speculative activity, changing the financial structure of the economy and corroding the social and political values that underlie welfare state capitalism. The essays begin with an article that was published in the Financial Times that highlights the problems of excess debt, which emerges when financial inflation exceeds the rate at which prices and incomes are rising.Subsequent essays examine the consequences of this for money and international financial, and for financial and accounting techniques such as financial innovation, goodwill and leverage. Among them are critical essays on the role that finance theory has played in covering up the problems caused by finance. These include a portrait of the pioneer of modern finance theorist Fischer Black. Further essays discuss the role of finance in economic inequality, fostering a new political, social and economic divide between the asset-rich and the asset-poor as the housing market (and asset markets in general) become the new 'welfare state of the middle classes'.A final group of essays looks at how financial inflation finally broke down and financial crisis broke out. A previously unpublished essay examines the limitations of central banks in securing financial stability, while two concluding essays discuss the role of international business in transmitting the crisis around the world, and how developing countries become affected by the crisis.

The original theory of finance which grows out of this critique is of interest to students and researchers of financial economics, practitioners in finance and policy-makers.