Accounting For Crises A Marxist History Of American Accounting Theory C1929 2007

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Accounting For Crises: A Marxist History Of American Accounting Theory, C.1929-2007

Author : Rob Bryer
Publisher : World Scientific
ISBN 13 : 9811267081
Total Pages : 481 pages
Book Rating : 4.8/5 (112 download)

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Book Synopsis Accounting For Crises: A Marxist History Of American Accounting Theory, C.1929-2007 by : Rob Bryer

Download or read book Accounting For Crises: A Marxist History Of American Accounting Theory, C.1929-2007 written by Rob Bryer and published by World Scientific. This book was released on 2023-07-07 with total page 481 pages. Available in PDF, EPUB and Kindle. Book excerpt: Historians have not convincingly explained modern capitalism's two major economic crises, the Great Depression of the 1930s, and the Global Financial Crisis (GFC) of 2008-2009. Accounting for Crises offers a new explanation, why both began and were more severe in the USA ('America'), based on an accounting interpretation of Marx's theory of crises. It explains their origins in capitalists' control of accumulation, which reveals important overlooked roles for Irving Fisher's accounting theory. This theory, by allowing discretion in accounts, in the context of falling rates of profit, encouraged 'swindling', overstating reported profits, and understating their risk, which facilitated and aggravated both crises. Framed by Fisher's theory, during the 1920s American accounting theorists justified discretion, which Creating the 'Big Mess' (the companion volume) concluded it management used to conservatively smooth earnings. Accounting for Crises shows that Fisher's theory , also underlays the popular new theory of investment that justified valuing shares using reported earnings, which encouraged their manipulation and legitimized 'speculation'. This, it argues, underlays America's exceptional late-1920s stock market boom, the 1929 Great Crash, and the depth and length of its Great Depression. Prominently associated with the boom, Fisher became unpopular after the crash, his name disappearing from public debate. Nevertheless, the book concludes, his theory hindered economic recovery, weakened 1930s reforms, undermined accounting regulation from the late-1930s, and following his rehabilitation from the late-1950s, underlies the Financial Accounting Standards Board's conceptual framework, which by allowing off-balance-sheet accounting for securitization-SPEs, fostered the 2007 'credit crunch' that triggered the 2008-2009 Global Financial Crisis (GFC).

Creating The "Big Mess": A Marxist History Of American Accounting Theory, C.1900-1929

Author : Rob Bryer
Publisher : World Scientific
ISBN 13 : 981124040X
Total Pages : 491 pages
Book Rating : 4.8/5 (112 download)

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Book Synopsis Creating The "Big Mess": A Marxist History Of American Accounting Theory, C.1900-1929 by : Rob Bryer

Download or read book Creating The "Big Mess": A Marxist History Of American Accounting Theory, C.1900-1929 written by Rob Bryer and published by World Scientific. This book was released on 2021-07-15 with total page 491 pages. Available in PDF, EPUB and Kindle. Book excerpt: Creating the 'Big Mess' and its sequel Accounting for Crises use Marx's theory of capitalism to explain why there is no generally accepted theory of financial accounting, and explore the consequences, by studying the history of American accounting theory from c.1900 to 2007. The answer, Creating the 'Big Mess', is first that while late-19th century British accounting principles, founded on the going-concern concept, provided an objective basis for holding management accountable to shareholders for its stewardship of capital, and were accepted by the nascent American profession, they are inchoate. Second, Irving Fisher's economic theory of accounting, based on the assertion that present value is the accountants' measurement ideal, which is subjective, framed early-20th century American accounting theory, which undermined British principles, making them incoherent. In an unregulated, pro-business environment, leading theorists, particularly Henry Rand Hatfield and William A. Paton, Jr., became authorities for management discretion, creating the 'big mess' Hatfield saw in late-1920s American accounting. Accounting for Crises examines the roles of Fisher's theory in promoting the speculation leading to the 1929 Great Crash, aggravating the Great Depression, hindering accounting regulation from the 1930s, producing the Financial Accounting Standard Board's conceptual framework, and facilitating the 2007-2008 Global Financial Crisis.

War On Wealth, The: Fact And Fiction In British Finance Since 1800

Author : Ranald Michie
Publisher : World Scientific
ISBN 13 : 9811270740
Total Pages : 376 pages
Book Rating : 4.8/5 (112 download)

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Book Synopsis War On Wealth, The: Fact And Fiction In British Finance Since 1800 by : Ranald Michie

Download or read book War On Wealth, The: Fact And Fiction In British Finance Since 1800 written by Ranald Michie and published by World Scientific. This book was released on 2023-03-21 with total page 376 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book addresses the divide that exists between the reality of finance and the image it projects. A functioning financial system is an essential feature of a modern economy, providing it with money, credit, capital, and investments. Conversely, those who provide this essential service are neither respected nor trusted. The causes and consequences of this divide is explored using the British experience from 1800 to the present, drawing upon a mixture of factual evidence and contemporary fiction. Nothing of this scale has been attempted before and this is the product of 50 years of research.

The Falling Rate of Profit and the Great Recession of 2007-2009

Author : Peter H. Jones
Publisher : BRILL
ISBN 13 : 9004398325
Total Pages : 272 pages
Book Rating : 4.0/5 (43 download)

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Book Synopsis The Falling Rate of Profit and the Great Recession of 2007-2009 by : Peter H. Jones

Download or read book The Falling Rate of Profit and the Great Recession of 2007-2009 written by Peter H. Jones and published by BRILL. This book was released on 2021-04-06 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: In The Falling Rate of Profit and the Great Recession of 2007-2009, Peter H. Jones develops a new non-equilibrium interpretation of the labour theory of value Karl Marx builds in Capital. Applying this to US national accounting data, Jones shows that when measured correctly the profit rate falls in the lead up to the Great Recession, and for the main reason Marx identifies: the rising organic composition of capital. Jones also details a new theory of finance, which shows how cycles in the profit rate relate to stock market booms and slumps, and movements in the interest rate. He discusses the implications of the analysis and Marx and Engels’ work generally for a democratic socialist strategy.

Accounting for History in Marx's Capital

Author : Robert Bryer
Publisher : Rowman & Littlefield
ISBN 13 : 1498551645
Total Pages : 454 pages
Book Rating : 4.4/5 (985 download)

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Book Synopsis Accounting for History in Marx's Capital by : Robert Bryer

Download or read book Accounting for History in Marx's Capital written by Robert Bryer and published by Rowman & Littlefield. This book was released on 2019-06-25 with total page 454 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book reinterprets Marx’s historical materialism as a world accounting history, answers his critics, and supports his theory with accounting evidence from history. It explains Marx’s prediction of the ‘inevitability’ of socialism, and outlines the necessary tasks of ‘critical accounting’ for Marxists to get Day One.

Marx's Theory of Crisis

Author : Simon Clarke
Publisher : Palgrave Macmillan
ISBN 13 :
Total Pages : 312 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Marx's Theory of Crisis by : Simon Clarke

Download or read book Marx's Theory of Crisis written by Simon Clarke and published by Palgrave Macmillan. This book was released on 1994 with total page 312 pages. Available in PDF, EPUB and Kindle. Book excerpt: The theory of crisis has always played a central role within Marxism, and yet has been one of the weakest theoretical elements of Marxist political economy, while Marx's own writings on crisis have been neglected. The recent publication of the last important manuscripts makes it possible for the first time to provide a complete and systematic account of Marx's theory of crisis.

The Routledge Companion to Management and Organizational History

Author : Patricia Genoe McLaren
Publisher : Routledge
ISBN 13 : 1135918457
Total Pages : 437 pages
Book Rating : 4.1/5 (359 download)

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Book Synopsis The Routledge Companion to Management and Organizational History by : Patricia Genoe McLaren

Download or read book The Routledge Companion to Management and Organizational History written by Patricia Genoe McLaren and published by Routledge. This book was released on 2015-05-15 with total page 437 pages. Available in PDF, EPUB and Kindle. Book excerpt: The field of management and organizational history has reached a level of maturity that means an overview is long overdue. Written by a team of globally renowned scholars, this comprehensive companion analyses management and organizational history, reflecting on the most influential periods and highlighting gaps for future research. From the impact of the Cold War to Global Warming, it examines the field from a wide array of perspectives from humanities to the social sciences. Covering the entire spectrum of the field, this volume provides an essential resource for researchers of business and management.

Routledge Handbook of Marxism and Post-Marxism

Author : Alex Callinicos
Publisher : Routledge
ISBN 13 : 1351370014
Total Pages : 722 pages
Book Rating : 4.3/5 (513 download)

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Book Synopsis Routledge Handbook of Marxism and Post-Marxism by : Alex Callinicos

Download or read book Routledge Handbook of Marxism and Post-Marxism written by Alex Callinicos and published by Routledge. This book was released on 2020-12-29 with total page 722 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the past two decades, Marxism has enjoyed a revitalization as a research program and a growth in its audience. This renaissance is connected to the revival of anti-capitalist contestation since the Seattle protests in 1999 and the impact of the global economic and financial crisis in 2007–8. It intersects with the emergence of Post-Marxism since the 1980s represented by thinkers such as Jürgen Habermas, Chantal Mouffe, Ranajit Guha and Alain Badiou. This handbook explores the development of Marxism and Post-Marxism, setting them in dialogue against a truly global backdrop. Transcending the disciplinary boundaries between philosophy, economics, politics and history, an international range of expert contributors guide the reader through the main varieties and preoccupations of Marxism and Post-Marxism. Through a series of framing and illustrative essays, readers will explore these traditions, starting from Marx and Engels themselves, through the thinkers of the Second and Third Internationals (Rosa Luxemburg, Lenin and Trotsky, among others), the Tricontinental, and Subaltern and Post-Colonial Studies, to more contemporary figures such as Huey Newton, Fredric Jameson, Judith Butler, Immanuel Wallerstein and Samir Amin. The Routledge Handbook of Marxism and Post-Marxism will be of interest to scholars and researchers of philosophy, cultural studies and theory, sociology, political economics and several areas of political science, including political theory, Marxism, political ideologies and critical theory.

Mute Compulsion

Author : Søren Mau
Publisher : Verso Books
ISBN 13 : 1839763507
Total Pages : 353 pages
Book Rating : 4.8/5 (397 download)

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Book Synopsis Mute Compulsion by : Søren Mau

Download or read book Mute Compulsion written by Søren Mau and published by Verso Books. This book was released on 2023-01-31 with total page 353 pages. Available in PDF, EPUB and Kindle. Book excerpt: A new Marxist theory of the abstract and impersonal forms of power in capitalism Despite insoluble contradictions, intense volatility and fierce resistance, the crisis-ridden capitalism of the 21st century lingers on. To understand capital’s paradoxical expansion and entrenchment amidst crisis and unrest, Mute Compulsion offers a novel theory of the historically unique forms of abstract and impersonal power set in motion by the subjection of social life to the profit imperative. Building on a critical reconstruction of Karl Marx’s unfinished critique of political economy and a wide range of contemporary Marxist theory, philosopher Søren Mau sets out to explain how the logic of capital tightens its stranglehold on the life of society by constantly remoulding the material conditions of social reproduction. In the course of doing so, Mau intervenes in classical and contemporary debates about the value form, crisis theory, biopolitics, social reproduction, humanism, logistics, agriculture, metabolism, the body, competition, technology and relative surplus populations.

Capital as Power

Author : Jonathan Nitzan
Publisher : Routledge
ISBN 13 : 1134022298
Total Pages : 853 pages
Book Rating : 4.1/5 (34 download)

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Book Synopsis Capital as Power by : Jonathan Nitzan

Download or read book Capital as Power written by Jonathan Nitzan and published by Routledge. This book was released on 2009-06-02 with total page 853 pages. Available in PDF, EPUB and Kindle. Book excerpt: Conventional theories of capitalism are mired in a deep crisis: after centuries of debate, they are still unable to tell us what capital is. Liberals and Marxists both think of capital as an ‘economic’ entity that they count in universal units of ‘utils’ or ‘abstract labour’, respectively. But these units are totally fictitious. Nobody has ever been able to observe or measure them, and for a good reason: they don’t exist. Since liberalism and Marxism depend on these non-existing units, their theories hang in suspension. They cannot explain the process that matters most – the accumulation of capital. This book offers a radical alternative. According to the authors, capital is not a narrow economic entity, but a symbolic quantification of power. It has little to do with utility or abstract labour, and it extends far beyond machines and production lines. Capital, the authors claim, represents the organized power of dominant capital groups to reshape – or creorder – their society. Written in simple language, accessible to lay readers and experts alike, the book develops a novel political economy. It takes the reader through the history, assumptions and limitations of mainstream economics and its associated theories of politics. It examines the evolution of Marxist thinking on accumulation and the state. And it articulates an innovative theory of ‘capital as power’ and a new history of the ‘capitalist mode of power’.

Reclaiming Marx's Capital

Author : Andrew Kliman
Publisher : Lexington Books
ISBN 13 : 9780739118528
Total Pages : 264 pages
Book Rating : 4.1/5 (185 download)

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Book Synopsis Reclaiming Marx's Capital by : Andrew Kliman

Download or read book Reclaiming Marx's Capital written by Andrew Kliman and published by Lexington Books. This book was released on 2007 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: Attempts to reclaim Marx's Capital from the myth of inconsistency. This book is intended for non-specialist readers, and shows that the inconsistencies are actually caused by misinterpretation; the temporal single-system interpretation eliminates all of the alleged inconsistencies.

Critical Theory

Author : Max Horkheimer
Publisher : A&C Black
ISBN 13 : 0826400833
Total Pages : 313 pages
Book Rating : 4.8/5 (264 download)

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Book Synopsis Critical Theory by : Max Horkheimer

Download or read book Critical Theory written by Max Horkheimer and published by A&C Black. This book was released on 1972-01-01 with total page 313 pages. Available in PDF, EPUB and Kindle. Book excerpt: These essays, written in the 1930s and 1940s, represent a first selection in English from the major work of the founder of the famous Institute for Social Research in Frankfurt. Horkheimer's writings are essential to an understanding of the intellectual background of the New Left and the to much current social-philosophical thought, including the work of Herbert Marcuse. Apart from their historical significance and even from their scholarly eminence, these essays contain an immediate relevance only now becoming fully recognized.

Critical Companion to Contemporary Marxism

Author : Jacques Bidet
Publisher : BRILL
ISBN 13 : 9004145982
Total Pages : 830 pages
Book Rating : 4.0/5 (41 download)

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Book Synopsis Critical Companion to Contemporary Marxism by : Jacques Bidet

Download or read book Critical Companion to Contemporary Marxism written by Jacques Bidet and published by BRILL. This book was released on 2008 with total page 830 pages. Available in PDF, EPUB and Kindle. Book excerpt: International and interdisciplinary in range and scope, the "Critical Companion to Contemporary Marxism" provides a thorough and precise panorama of recent developments in Marxist theory in the US, Europe and beyond.

Global Slump

Author : David McNally
Publisher : PM Press
ISBN 13 : 1604860650
Total Pages : 289 pages
Book Rating : 4.6/5 (48 download)

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Book Synopsis Global Slump by : David McNally

Download or read book Global Slump written by David McNally and published by PM Press. This book was released on 2010-12-09 with total page 289 pages. Available in PDF, EPUB and Kindle. Book excerpt: Global Slump analyzes the global financial meltdown as the first systemic crisis of the neoliberal stage of capitalism. It argues that—far from having ended—the crisis has ushered in a whole period of worldwide economic and political turbulence. In developing an account of the crisis as rooted in fundamental features of capitalism, Global Slump challenges the view that its source lies in financial deregulation. The book locates the recent meltdown in the intense economic restructuring that marked the recessions of the mid-1970s and early 1980s. Through this lens, it highlights the emergence of new patterns of world inequality and new centers of accumulation, particularly in East Asia, and the profound economic instabilities these produced. Global Slump offers an original account of the “financialization” of the world economy during this period, and explores the intricate connections between international financial markets and new forms of debt and dispossession, particularly in the Global South. Analyzing the massive intervention of the world’s central banks to stave off another Great Depression, Global Slump shows that, while averting a complete meltdown, this intervention also laid the basis for recurring crises for poor and working class people: job loss, increased poverty and inequality, and deep cuts to social programs. The book takes a global view of these processes, exposing the damage inflicted on countries in the Global South, as well as the intensification of racism and attacks on migrant workers. At the same time, Global Slump also traces new patterns of social and political resistance—from housing activism and education struggles, to mass strikes and protests in Martinique, Guadeloupe, France and Puerto Rico—as indicators of the potential for building anti-capitalist opposition to the damage that neoliberal capitalism is inflicting on the lives of millions.

In Defense of Housing

Author : Peter Marcuse
Publisher : Verso Books
ISBN 13 : 1804294942
Total Pages : 257 pages
Book Rating : 4.8/5 (42 download)

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Book Synopsis In Defense of Housing by : Peter Marcuse

Download or read book In Defense of Housing written by Peter Marcuse and published by Verso Books. This book was released on 2024-08-27 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: In every major city in the world there is a housing crisis. How did this happen and what can we do about it? Everyone needs and deserves housing. But today our homes are being transformed into commodities, making the inequalities of the city ever more acute. Profit has become more important than social need. The poor are forced to pay more for worse housing. Communities are faced with the violence of displacement and gentrification. And the benefits of decent housing are only available for those who can afford it. In Defense of Housing is the definitive statement on this crisis from leading urban planner Peter Marcuse and sociologist David Madden. They look at the causes and consequences of the housing problem and detail the need for progressive alternatives. The housing crisis cannot be solved by minor policy shifts, they argue. Rather, the housing crisis has deep political and economic roots—and therefore requires a radical response.

World in Crisis

Author : Guglielmo Carchedi
Publisher : Haymarket Books
ISBN 13 : 1608461882
Total Pages : 478 pages
Book Rating : 4.6/5 (84 download)

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Book Synopsis World in Crisis by : Guglielmo Carchedi

Download or read book World in Crisis written by Guglielmo Carchedi and published by Haymarket Books. This book was released on 2018-10-01 with total page 478 pages. Available in PDF, EPUB and Kindle. Book excerpt: Most mainstream economists view capitalism’s periodic breakdowns as nothing more than temporary aberrations from an otherwise unbroken path toward prosperity. For Marxists, this fundamental flaw has long been acknowledged as a central feature of the free-market system. This groundbreaking volume brings together Marxist scholars from around the world to offer an empirically grounded defense of Marx’s law of profitability and its central role in explaining capitalist crises. “World in Crisis has a specific aim: to provide empirical validity to the hypothesis that the cause of recurring economic crises or slumps in output, investment, and employment in modern economies can be found in Marx’s law of the tendential fall in the rate of profit. Marx believed, and we agree, that this is ‘the most important law in political economy.’” —from the preface

Marxism and the Global Financial Crisis

Author : Hillel Ticktin
Publisher : Routledge
ISBN 13 : 1317985621
Total Pages : 182 pages
Book Rating : 4.3/5 (179 download)

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Book Synopsis Marxism and the Global Financial Crisis by : Hillel Ticktin

Download or read book Marxism and the Global Financial Crisis written by Hillel Ticktin and published by Routledge. This book was released on 2013-09-13 with total page 182 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book discusses the nature of Marxist theory of crisis and applies it to the global financial crisis which began in 2007. Is the contemporary crisis simply the usual periodic upturn and downturn or is there something more fundamental? Is there a structural crisis of capitalism, from which there is no immediate solution? Is capitalism managed and does it have a strategy? Is the financial crisis representative of a failure in capitalism itself to subject banks and other financial institutions to the overall economy? The book discusses Marx’s view on crises, as well as ideas on money and finance. It considers the different modern Marxist ideas on the causes of crises – falling rate of profit, disproportionality and underconsumption. It goes into detail as to the nature of the present crisis, its course and causes in a spirited and independent manner. Apart from the United States, it considers the situation in the two countries, in which protests erupted: Iran and Greece. They are taken as examples of the effect of the crisis on the country, the society and the economy as well as its politics. This book was originally published as a special issue of Critique.