Author: Edward L. Tapia

Edward L. Tapia is an independent Marxist political economist living in Chicago and is on the editorial board of New Politics.

A Growing National Strike Against Neoliberalism in Chile

Chile has exploded in social protests for the past several days, initially ignited by an increase in the metro fare. The initial protests developed into a national strike, even though conservative President Sebastián Piñera rescinded the four percent increase . . .

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The Tendency for the Rate of Profit to Decline—And Why It Matters

The law of the tendency for the rate of profit to decline has been the focus of an immense and on-going debate since the publication of Vol.III of Capital in 1894. In what follows, . . .

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Remembering Dependency Theory

A Marxist-Humanist Review


This article aims to show that dependency theory underlines vividly the problem of examining the logic of capital independent of Marx’s concept of value. It is impossible to completely understand the essence of Marx’s critique of political economy, especially a vision of an alternative to capitalism, without grasping value as distinct from exchange value. The distinction is of vital importance, since uprooting relations of exchange cannot itself eliminate the defining principle of capitalism: abstract labor, production for the sake of value.