Professor Shirley Gedeon University of Vermont Marxian Economic Theory

Professor Shirley Gedeon
University of Vermont
Marxian Economic Theory
Economics 210 - Spring 2015
[email protected]
Office Hrs: T/TH 12 - 2 p.m.
and Wednesday by appt.
337 Old Mill
http://uvm.edu/~sgedeon
REQUIRED TEXTS
1. Paul Sweezy, Theory of Capitalist Development, Monthly Review Press
o ISBN: 978-0853450795
2. Robert C. Tucker, The Marx-Engels Reader, Norton
o ISBN: 978-0393090406
3. Harry Braverman, Labor and Monopoly Capital, Monthly Review Press
o ISBN: 978-0853459408
4. Ernesto Screpanti, Global Imperialism and the Great Crisis, Monthly Review Press
o ISBN: 978-1-58367-447-5
o This is available free as PDF on the course website
Course Information
This course explores Marxian economic theory as is presented in Das Kapital, Vol. I. According to Marx,
the source of capitalist profit as well as the central injustice of capitalism was in the exploitation and
alienation of labor, and in this course we will analyze carefully how Marx built this argument. We will
also thoroughly discuss Marx’s critical and innovative synthesis of the causes and dynamics of the
accumulation of capital, economic crises, and of the growth of monopoly capital. We end the course
st
with work of contemporary economists who extend Marx’s theory of imperialism to the 21 century.
Course Requirements
.15(Participation/Homework) + .20(Essay I) + .20(Essay II) + .20 (Essay III) + .25(Crisis
Theory/Imperialism Essay paper) = Course Grade
Participation The participation grade will be determined as follows:
·
Discussion questions answered in writing and submitted in class or on the Class Forum on the
day as assigned
· Quality and depth of discussion in class. Students must complete the assigned readings before
the material is covered in class and participate in class discussions. Students should bring the
text and reading notes to class.
· Quality of in-class writing. Class will regularly begin with a writing prompt. This will help to
organize your thoughts, raise questions, and initiate discussion. It also signals that you have
prepared for class.
Class attendance is mandatory. If you must miss class because of illness, sports, interviews, etc.,
you must notify Professor Gedeon by the morning of the class with the explanation.
Please note: missing class for any reason whatsoever does not excuse the student from the
obligation
to submit a paper approximately 4 pages in length (1000-1300 words) on a topic assigned by
Professor Gedeon that is designed to capture the exposition and discussion of the missed
class.
Students must contact Professor Gedeon for the assigned essay topic on the day
following the
missed class, submit the essay by the next Monday, and receive a grade of 70 before
being permitted
to attend the next week's classes.
Essays I-III and Crisis Theory/Imperialism will be take-home essays on assigned questions.
·
Each should be 10-12 double-spaced pages in length. Questions will be distributed 7 days
before due
Syllabus
Always arrive to class with the assigned reading. Laptops/iPads always welcome
I. Marxism: The Background: Jan 13 - 15
Assigned Reading:
Marx & Engles, "Communist Manifesto" in Tucker, pp. 469-500
Harry Braverman, Labor and Monopoly Capital, Introduction and Ch. 1
Ernest Mandel, "Karl Marx," in The New Palgrave Marxian Economics, pps. 1-32 (recommended)
Class Discussion Schedule:
• Tuesday 1/13: Intro to CourseThursday,
o View video Marx: Masters of Money;
o View Auret van Heerden: Making Global Labor Fair"
o Discuss Braverman
• Thursday, 1/15: Communist Manifesto
o Be sure to bring text with you
II. Historical Materialism and the Transition from Feudalism to Capitalism: Jan 20-27
Assigned Reading:
Hunt, E. K., Property and Prophets Chs. 1-4
Lazonick, William, "Karl Marx and Enclosures in England," RRPE, vol. 6, No. 2, Summer 1974, 1-59
Cohen, G. A., "The Primacy of the Productive Forces," ch. 6 of Karl Marx's Theory of History,
pp 234-171
Fromm, Eric, "Marx's Concepts of Historical Materialism and Alienation" selections from Marx's
Concept of Man
Marx, Preface to A Contribution to the Critique of Political Economy, in Tucker, pp. 3-6
Engels, “Socialism: Utopian and Scientific,” in Tucker pp. 683-717
Engels, “Letters on Historical Materialism,” in Tucker, pp. 760 – 68
Karl Marx, Capital, Chs. 26 – 33 "The So-Called Primitive Accumulation", in Tucker pp. 431-438
Class Discussion Schedule:
• Tuesday, 1/20: Hunt and Fromm
• Thursday, 1/22: Lazonick and Cohen
o Last name A - M: present Lazonick, pps. 1-27
o Last name N - Z: present Lazonick pps. 28 - end
o Prof. Gedeon presents Cohen
• Tuesday, 1/27: All assigned Marx & Engels
o Be sure to bring Tucker with you
III. The Labor Theory of Value: Jan 29 - Feb 10
Asssigned Reading:
Sweezy, Paul M., Theory of Capitalism Development, Introduction and Ch. 1 - 3
Howard & King, Political Economy of Marx, Ch. 2
Capital, I, Ch. 1-3 "Commodities and Money" in Tucker, pp. 302 - 329
Class Discussion Schedule:
• Thursday, 1/29: Marx, Capital, Ch. 1 - 3 (Tucker, pp. 302 -329)
• Tuesday, 2/3: Sweezy, Chs. 1-2 and Howard & King, ch. 2
•
Thursday, 2/5: Ernest Mandel, "Introduction to Capital," p. 2-78"
Essay I Due: Tuesday, 2/10
V. Surplus Value, Rate of Profit, Organic Composition of Capital: Feb 12 - 17
Assigned Reading:
Marx, Capital, Chs 4 - 6 (Tucker, pps. 329 - 343
Sweezy, Ch. 4, "Surplus Value and Capitalism"
Braverman, Labor and Monopoly Capital, Chs. 2 - 6
Class Discussion Schedule
• Thursday, 2/12, Sweezy Ch. 4 and Marx, Capital, Chs. 4-6
• Tuesday, 2/17: Braverman, Chs. 2 - 6
o Last name A -G: Present Ch. 2 & 3
o Last name H - 0: Present Ch. 4
o Last name P - Z; Present Ch. 5 & 6
VI. Labor Process, Mechanization, and Relative Surplus Value: Feb 24 - 26
Assigned Reading:
Marglin, Stephen A., “What Do Bosses Do? The Origins and Functions of Hierarchy in Capitalist
Production”
Braverman, Harry, Labor & Monopoly Capital, Chs. 7– 10
Marx, Capital, Chs. 7- 12, in Tucker, pp. 344 - 384.
Nadeem, Shehzad, "Long Hours Offshore: Harsh Days at Indian Call Centers" (also available to
read under "Assigned Reading"
Class Discussion Schedule:
• Thursday, 2/19: Braverman, Chs. 7 - 10
o Last name A - C: Present Braverman Chs. 7 & 8
o Last name D - M: Present Braverman Ch. 9
o Last name N - P: Present Braverman, Ch. 10
o Last name Q - Z: Present Shehzad, linking specifically to Braverman's analysis
• Tuesday, 2/24: Marglin and Marx
o All students: Bring Marglin reading notes to class and Marx reading
Essay II Due: by Sunday, 3/1
IV. The Accumulation Process and Crisis: Mar 10 - 24
Assigned Reading:
Marx, Chs. 8 - 15 and Ch. 25 (Tucker, pps. 384 - 434)
Sweezy, Chs. 5 - 10
Ernest Mandel, Marxist Economic Theory, Vol I, "The Contradictions of Capitalism," Ch. 5
Class Discussion Schedule:
• Tuesday, 3/10: Sweezy, Chs. 5 and 6: "Accumulation and Reserve Army" and "Falling
Tendency of Rate of Profit
• Thursday, 3/12: Sweezy, Chs. 7, "Transformation Problem"
• Tuesday, 3/17: Sweezy, Ch. 8 and 9, "Nature of Capitalist Crises" and "Crises Associated With
Falling Rate of Profit"
• Thursday, 3/19: Sweezy, Ch. 10 "Realization Crises" and Mandel
Essay III due: Tuesday, 3/24
V. Imperialism: Mar 26 - Apr 16
Assigned Reading:
Lenin, V. I., Imperialism (as PDF under Assigned Reading)
Karl Marx, "On the Theory of Free Trade" 1848
Karl Marx, "The Modern Theory of Colonialization," Capital, Vol. I, Ch. 33
Brewer, Anthony, Marxist Theories of Imperialism , Routledge (as PDF under Assigned Reading)
Chs. 4 & 5
Screpanti, Ernesto, Global Imperialism and the Great Crisis, Monthly Review Press (as PDF under
Assigned Reading)
Sweezy, Ch. 14, "The Development of Monopoly Capital", and Ch. 17, "Imperialism"
Iren Levina, "A Puzzling Rise in Financial Profits and the Role of Capital-Gain Like Revenues"
Political Economy Research Institute, Working Paper 347, 2014
Class Discussion Schedule:
• Thursday, 3/26: Sweezy, Chs. 14, 17
o Last name A-B: present Sweezy, Ch. 17
o Prof. Gedeon presents Ch. 14
• Tuesday, 3/31 Marx, "On the Theory of Free Trade" and "The Modern Theory of
Colonialization" and Brewer, Ch. 2, "Marx" pps. 25-58
o In-class free write on Marx and Brewer. Bring your notes/laptops
• Thursday, 4/2: Brewer, Ch. 4, "Hobson" and Ch. 5, "Hilferding"
o Last name C - D present Ch. 4
o Last name E - H present Ch. 5
• Tuesday, 4/7: Lenin, Imperialism.
o
Last name I - L present first half Imperialism
• Thursday, 4/9: Lenin, ImperialismTuesday,
o
Last name M - P present send half Imperialism
• Tuesday, 4/14: Screpanti, Ch. 1 & 2
o Professor Gedeon presents Ch. 1 & 2
• Thursday, 4/16: Screpanti, Ch. 3, 4, pps. 97 - 146
o Last name Q - Z present Ch. 3 & 4
• Tuesday, 4/21: Screpanti, Ch. 6, 7, pps. 147 - 202
o
Last name A - M present Chs. 6 & 7
• Thursday, 4/24: Screpanti, Conclusion and Levina
o Last name T - Z - Screpanti Conclusion and Levina
CRISIS THEORY/IMPERIALISM PAPER DUE: May 4
Recommended Commentary on Crisis Theory in late 20th/early 21st centuries
Giovanni Arrighi, The Long Twentieth Century: Money, Power, and the Origins of Our Times, Verso
S. Ibi Ajayi and Leonce Ndikumana, Capital Flight from Africa: Causes, Effects & Policy Issues, Oxford
University Press, 2015
Thomas Piketty, Capital in the 21st Century, 2014
Saru Jayaraman, "Shelved: How Wages and Working Conditions for California's Food Retail Workers
Have Declined as the Industry has Thrived," Food Labor Research Center, UC Bereley, June 2014
Bill Lucarelli, Monopoly Capitalism in Crisis, Palgrave, 2004