For citation:
Zhdanova, L. L. (2019). Debating Points in Production Theory and Accumulation of Capital. Zhurnal Economicheskoj Teorii [Russian Journal of Economic Theory], 16(1), 154-168
Abstract:
This research draws a retrospective comparison of largest economists’ views on capital reproduction in the face of technical progress. The purpose of this study is to explain the disproportions which arise due to this process and suggest possible options to tackle them. The article discusses two types of global imbalance: (a) discrepancy between cost and natural-material structure of produced consumer goods and money income of the population intended for consumer purposes; (b) discrepancy between manufacturing capacities in production sector of investment goods and national business demand for fixed assets. Opportunities and ways to overcome these contradictions are heavily discussed. Slight mitigation of contradiction (a) is thought to be possible to achieve with substantial institutional transitions in developed countries. Regarding contradiction (b), only one approach is considered feasible: export operations and, consequently, positive value of net exports as an integral part of aggregate demand. The article discusses the inconsistency of such a solution, which implicitly transfers the process of macroeconomic equilibrium formation to the world market. In this case, the conservation of underdevelopment will ensue in the economies of countries that fall behind in economic development. The research relies on a genetic method based on the unity of the historical and the logical in the ascending process from the abstract to the concrete. A fundamentally new question is raised. It concerns the transfer of macroeconomic balancing process from the national market to the world market along with the characteristics of the economies involved in this process in terms of the size and natural-material structure of their net exports. The conducted research is aimed primarily to develop the theory of reproduction and capital circulation of all social capital that currently holds the issues of fixed capital reproduction in the unity of natural-material and cost forms at the periphery of academic focus. The findings of the given study may also be used in the development of economic policies aimed to stimulate or deter certain commodity flows in a country’s export and import.
Adzhemoglu, D. & Robinson, Dzh. A. (2016). Pochemu odni strany bogatye, a drugie bednye. Proishozhdenie vlasti, procvetanija i nishhety [Why Nations Fail: The Origins of Power, Prosperity, and Poverty]. Moscow, Russia: AST, 693. (In Russ.)
Bekrenev, Yu. V. & Ugryumova, M. A. (2014). Rossijskij kapitalizm: razvitie i perspektivy s pozicij klassicheskoj polit- jekonomii [Russian capitalism: development and prospects from the standpoint of classical political economy]. Statistika i ekonomika [Statistics and economics], 4, 17–24. (In Russ.)
Biryukov, A. (2013). Dialektika «Nakoplenija kapitala» Rozy Ljuksemburg [Dialectics of «The Accumulation of Capital» by Rosa Luxemburg]. Filosofiya i obshchestvo [Philosophy and society], 4(72), 148–156. (In Russ.)
Vorontsov, V. P. (1882). Sud’by kapitalizma v Rossii [The destiny of capitalism in Russia]. St. Petersburg, Russia: Tipografija M. Stasjulevicha, 312. (In Russ.)
Vorontsov, V. P. (1895). Ocherki teoreticheskoj jekonomii [Essays on theoretical economics]. St. Petersburg, Russia: Tipografija Skorohodova, 321. (In Russ.)
Gritsenko, V. S. & Orlov, V. V. (2015). «Kapital» Marksa i krizis kapitalilzma [«Capital» of Marx and the crisis of capital- ism]. Filosofiya i obshchestvo [Philosophy and society], 12(76), 65–76. (In Russ.)
Gulyaeva, O. S. & Gulyaev, R. A. (2016). Virtual’naja jekonomika i virtual’nyj kapital: konceptual’nyj analiz [Virtual Economics and Virtual Capital: Conceptual Analysis]. Vestnik TvGU. Seriya «Ekonomika i upravlenie» [Bulletin of TSU. “Economics and management” series], 4, 14–20. (In Russ.)
Danielson, N. F. (1893). Ocherki nashego poreformennogo obshhestvennogo hozjajstva [Essays of our post-reform social economy]. St. Petersburg, Russia: Tipografija A. Benke, 353. (In Russ.)
Dzarasov, R. S. (2013). Nacional’nyj kapitalizm: razvitie ili nasazhdenie otstalosti [National capitalism: way forward or dissemination of underdevelopment]. Al’ternativy [Alternatives], 1, 49–60; 2, 58–65; 3, 62–98. (In Russ.)
Dyatel, E. P. (2018). K. Marks: Vozmozhnosti i predely klassovogo i vosproizvodstvennogo podhodov [K. Marx: Possibilities and limits of class and reproduction approaches]. Zhurnal Economicheskoj Teorii [Russian Journal of Economic Theory], 15(1), 107–119. (In Russ.)
Zhdanova, L. L. (2000). Innovacionnyj tip vosproizvodstva v uslovijah global’noj konkurencii [Innovative type of repro- duction amidst global competition]. Ekonomicheskie innovatsii [Economic innovations], 7, 36–42. (In Russ.)
Ivanov, D. V. (2014). Koncepcii kapitala ot Karla Marksa do Marka Cukerberga [Capital concepts from Karl Marx to Mark Zuckerberg]. Vestnik Sankt-Peterburgskogo universiteta. Seriya 12 [Bulletin of Saint Petersburg University. Series 12], 1, 126–134. (In Russ.)
Kanarsh, G. Yu. (2017). Sovremennyj rossijskij kapitalizm: istoriko-geneticheskij i mirohozjajstvennyj aspekty [Modern Russian capitalism: historical-genetic and world economic aspects]. Filosofiya i sovremennost’ [Philosophy and modernity], 1, 78–93. (In Russ.)
Kudelin, A. E. (2006). Vozvrashhenie stran sovetskogo Sodruzhestva k liberal’nomu kapitalisticheskomu predprinima- tel’stvu i prevrashhenie ih v strany periferijnogo kapitalizma [The return of the countries of the Soviet Commonwealth to the liberal capitalist entrepreneurship and their transformation into the countries of peripheral capitalism]. Nauchnyy zhurnal KubGAU [Academic Journal of KSAU], 22. (In Russ.)
Latypov, R. F., Salakhutdinova, R. R. & Ishmuratov, M. M. (2015). Kompradorskaja intelligencija kak instrument ne- okolonial’noj politiki Zapada v stranah periferijnogo i poluperiferijnogo kapitalizma [Comprador intelligentsia as a tool of Western neo-colonial policy in the countries of peripheral and semi-peripheral capitalism]. Vlast’ [Power], 11, 35–39. (In Russ.)
Lenin, V. I. (1967). Po povodu tak nazyvaemogo voprosa o rynkah [About the so-called question of markets]. In Polnoe sobranie sochineniy [Complete works] (5th ed., Vol. 1, pp. 67–122). Moscow, Russia: Izdatel’stvo politicheskoy literatury. (In Russ.)
Lenin, V. I. (1967). Razvitie kapitalizma v Rossii [The development of capitalism in Russia]. In Polnoe sobranie sochineniy [Complete works] (5th ed., Vol. 3). Moscow, Russia: Izdatel’stvo politicheskoy literatury, 609. (In Russ.)
Luxemburg, R. (1931). Nakoplenie kapitala [The Accumulation of Capital] Moscow-Leningrad: Gosudarstvennoe sotsi- al’no-ekonomicheskoe izdatel’stvo, 472. (In Russ.)
Mamontov, V. D. (2011). Soderzhanie jekonomicheskogo uchenija narodnikov skvoz’ prizmu razvitija sovremennogo rossijskogo kapitalizma [The content of populists’ economic teachings through the prism of the development of modern Russian capitalism]. Vestnik TGU. Seriya: gumanitarnye nauki [Bulletin of TSU. “Human sciences” series], 4(96), 19–27. (In Russ.)
Milyutin, V. (1926). O probleme disproporcii i tempe hozjajstvennogo razvitija SSSR (doklad i prenija) [On the prob- lem of disproportion and the economic development rate of the USSR (report and debate)]. Vestnik Kommunisticheskoy Akademii [Bulletin of the Communist Academy], xvi, 216–261. (In Russ.)
Petrov, A. V. (2009). Imitacionnyj kapitalizm v Rossii: social’no-jekonomicheskie posledstvija mezhdunarodnogo razdelenija truda [Imitational capitalism in Russia: socio-economic consequences of the international division of la- bor]. Obshchestvo. Sreda. Razvitie (Terra Humana) [Society. Environment. Development (Terra Humana)], 4, 19–31. (In Russ.)
Rodbertus, K. (1904). Sochinenija. Vypusk 1. K osveshheniju social’nogo voprosa. Social’nye pis’ma k fon-Kirhmanu. Pis’mo vtoroe i tret’e [Works. Issue 1. Towards the coverage of the social question. Social letters to von Kirchman. The second and the third letter]. St. Petersburg: Izdanie N. Glagoleva, 302. (In Russ.)
Rodbertus, K. (1906). Kapital: chetvertoe social’noe pis’mo k fon Kirhmanu Karla Rodbertusa Jagecova [Capital: the fourth social letter to von Kirchman from Karl Rodbertus Yagetsov]. St. Petersburg: Tipografija Spb. t-va «Trud», 208. (In Russ.)
Sorokin, A. V. (2016). Kejnsianskaja proverka teorii Marksa [Keynesian test of Marx’s theory]. Zhurnal Economicheskoj Teorii [Russian Journal of Economic Theory], 3, 93–105 (In Russ.)
Sismondi, Zh.-Sh. (1936). Novye nachala politicheskoj jekonomii ili O bogatstve v ego otnoshenii k narodonaseleniju [New principles of political economy or About wealth in its relation to population] (Vol. 1). Moscow: Gosudarstvennoe sotsi- al’no-ekonomicheskoe izdatel’stvo, 386. (In Russ.)
Sismondi, Zh.-Sh. (1937). Novye nachala politicheskoj jekonomii ili O bogatstve v ego otnoshenii k narodonaseleniju [New principles of political economy or About wealth in its relation to population] (Vol. 2). Moscow: Gosudarstvennoe sotsi- al’no-ekonomicheskoe izdatel’stvo, 242. (In Russ.)
Tenyakov, I. M. (2017). Sistemno-istoricheskaja tipologija jekonomicheskogo rosta [System-historical typology of eco- nomic growth]. Zhurnal Economicheskoj Teorii [Russian Journal of Economic Theory], 4, 83–94. (In Russ.)
Ter-Martirosyan, N. A. (2017). Virtual’nyj kapital i virtualizacija mirovoj jekonomiki [Virtual capital and virtualization of the world economy]. Izvestiya SPbGEU [Bulletin of UNECON], 4(106), 161–165. (In Russ.)
Tugan-Baranovsky, M. I. (1997). Izbrannoe: Periodicheskie promyshlennye krizisy. Istorija anglijskih krizisov. Obshhaja teorija krizisov [Selected works. Periodic industrial crises. History of English crises. The general theory of crises]. Moscow, Russia: Nauka — ROSPEN, 576. (In Russ.)
Ushakov, A. S. (2014). Razvitie virtual’nyh jekonomicheskih otnoshenij i vosproizvodstvo fiktivnogo kapitala [Development of virtual economic relations and reproduction of fictitious capital]. Obshchestvo i pravo [Society and law], 3(49), 312–317. (In Russ.)
Yavlinskiy, G. (2003). Periferijnyj kapitalizm. Lekcii ob jekonomicheskoj sisteme Rossii na rubezhe XX-XXI vekov [Peripheral capitalism. Lectures on the economic system of Russia at the turn of the XX-XXI centuries]. Moscow, Russia: Integral-Inform, 159. (In Russ.)
Yavlinskiy, G. (2005). Reformy 1990-h i jekonomicheskaja sistema sovremennoj Rossii: genezis «periferijnogo kapitalizma» [The reforms of the 1990s and the economic system of modern Russia: the genesis of «peripheral capitalism»]. Ekonomicheskiy zhurnal VShE [HSE Economic Journal], 1, 82–96. (In Russ.)
Amin, S. (1974). Accumulation on a World Scale: A Critique of the Theory of Underdevelopment. New York, NY: Monthly Review Press, 648.
Robinson, J. (1951). [Introduction]. In The accumulation of capital by Rosa Luxemburg (A. Schwarzschild, Trans.) (pp. 13–28). London: Routledge and Kegan Paul Ltd., 474.
Robinson, J. (1956). The Accumulation of Capital. London, Macmillan & Co Ltd, 440.