A materialist development of some recent contributions to the labour theory of value

The paper offers a novel interpretation and affirmation of theopening arguments of Capital, answering the fundamental butneglected question of why labour is the substance of value.Marx's arguments require that two philosophical threads, oftenseparated in the literature on value, be woven together. Theargument that value is the intrinsic ‘content’ makingcommodities exchangeable employs the thread of realism. Theargument that abstract labour is the emergent ‘socialsubstance’ of value employs the thread of dialectics.This interpretation develops the materialist and dialecticalphilosophy of E.V. Ilyenkov and deepens the approach to valuetheory initiated by Ben Fine.     

Thinking about developmental states in Africa

During much of the 1980s and 90s, a literature emerged suggestingthat ‘developmental states’ were impossible in Africa.The arguments given ranged from cultural ones about the pervasivenature of clientalism to structural ones on the dependence ofAfrican economies or the atypical levels of rent seeking inAfrican economies. This paper argues that Africa has had statesthat were ‘developmental’ in both their aspirationsand economic performance. It further argues that these experiencesneed to be examined critically for useful lessons, an exercisethat has been hindered by an excessive levelling of the Africanpolitical and economic landscapes.     

Preferences, reductionism and the microfoundations of Analytical Marxism

Analytical Marxism has recommended that Marxian theory shouldconform to ‘normal’ scientific methods and thatthis should involve the development of microfoundations. Thelatter has involved the adoption of rational choice theory andits corresponding assumptions regarding agents' behaviour. Thispaper seeks to question this position and highlight a numberof problems which Analytical Marxism faces, particularly inthe domain of economic theory. The different views of scienceespoused by Analytical Marxists display a tension between ‘positivist’and ‘realist’ perspectives, and the arguments forindividualist and anti-reductionist approaches to social andeconomic theory are also argued to be problematic. The approachof Analytical Marxism, it is suggested, can involve the uncriticaladoption of many of the assumptions of standard economic theoryand, as such, it is subject to a number of substantive criticisms,some of which have been elaborated from within mainstream economictheory.     

Wage formation in historical perspective: the French experience

Translator's note: In this article Robert Bayer introduces thenotion ‘regulation’ as a key concept in analysesof the labour market. The term refers to the balance of social,institutional and economic forces which characte rise at a particulartime the economic system as a whole or particular parts of it.I considered translating ‘regulation’ as ‘order’,‘regime’, ‘system’ or ‘formation’;but these terms are either too static or already bear inappropriateconnotations. It was therefore decided to retain the Frenchexpression in the English text.