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labour. ‘This is why the wage relation is both a relation of exchange and a relation of production’(Aglietta 1979:46). For Aglietta, in economic theory, ‘the task of abstraction is possible because a process of homogenization exists in the reality to be studied, making the objects under investigation commensurable elements in a space to which a measure can be applied’; in fact, ‘the process of homogenization of economic objects is a social relation’. Neoclassical theory, on the other hand, stoops to General Equilibrium ‘since for it prices are homogeneous variables for all economic subjects only on condition of a general equilibrium’; neoclassical economics would not, on the basis of its blunt empiricist method, consider those ‘conditions that require the measurable space to be constructed before it is possible to measure’(1979:38-9). In other words, value concept is paramount to economic science because ‘its commensurability role is independent of whether or not an economic equilibrium prevails’(Driver 1981:150). General Equilibrium models, on the other hand, study over-time accumulation in terms of ‘an easy, automatic transition between two well defined equilibria’(Boyer 2002:322), since changes in the terms of productivity are infinitely reversible in those models. ‘But fixed capital investment cannot be “reversed”, only devalorised’(Driver 1981:150). In A Theory of Capitalist Regulation, departments of production category is integral to the regulationist analysis of accumulation. For Marx, the two departments of production(wage commodities/non-wage commodities or department II/department I) affords an analysis of accumulation over time in terms of reproduction schemas. In Marxist political economy, these schemas has stirred up many controversies foremostly because devalorisation is not part of this heuristic model. Aglietta nevertheless analyses the effect of the unequal growth of non-wage commodity production vis-a-vis wage commodity production and the transformations in the terms of productivity on the surplus value production(i.e. accumulation) with exactly these controversial department of production categories. To that effect, transformations in the standard of production within Department I lowers the value of labour power once 47
Department II is au fait with the changes in productive methods so that productivity increases within the sector of non-wage commodity production have an effect on overall productivity(i.e. increases in the rate of surplus value). A consequence of increased productivity is increasing profitability as the former lowers the unit value of fixed capital and the concomitant decrease in the value of wage commodities has an a fortiori effect on the rate of exploitation. 48
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FUTURE OF REGULATION THEORY: OPEN-E
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I hereby declare that all informati
Page 5 and 6: ÖZ DÜZENLEME OKULUNUN GELECEĞİ:
Page 7 and 8: ACKNOWLEDGMENTS Has all this been a
Page 9 and 10: 4.2 Jessop on Regulation Theory ...
Page 11 and 12: their journal Economies et Sociét
Page 13 and 14: elt around ongoing collective resea
Page 15 and 16: protagonists(albeit with slight cha
Page 17 and 18: foundations in economic analysis, P
Page 19 and 20: CHAPTER 2 RÉGULATION THEORY AND PA
Page 21 and 22: ‘Structural causality’ in Althu
Page 23 and 24: of working class consumption is cot
Page 25 and 26: production’(ibid.:160). This woul
Page 27 and 28: contradiction(or more pedantically
Page 29 and 30: mechanisms no longer had a foothold
Page 31 and 32: accumulation as well. Implicitly, s
Page 33 and 34: Another argument coterminous to tha
Page 35 and 36: In part or whole, a multitude of ab
Page 37 and 38: capacity on the basis of the now in
Page 39 and 40: capital goods industries cheapen th
Page 41 and 42: analysts espouse a cyclical fall in
Page 43 and 44: the concept of structural crisis, i
Page 45 and 46: Castree(1999:150) on Postone), and
Page 47 and 48: Value concept in Marx is, of course
Page 49 and 50: over excess capital/excess commodit
Page 51 and 52: and that each commodity has ‘a’
Page 53 and 54: Strictly inflationary or disinflati
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Page 59 and 60: the analysis of stylised facts abou
Page 61 and 62: cussednesses and controversies in s
Page 63 and 64: Certain sociologists have been incr
Page 65 and 66: tangential to mainstream economics(
Page 67 and 68: market is conceptually an ‘elusiv
Page 69 and 70: market is an institution of ex post
Page 71 and 72: analysis(2001:74). Marshallian Gene
Page 73 and 74: ‘all these configurations are not
Page 75 and 76: through cyclical crises to the high
Page 77 and 78: 2002:320). Though in Marxist theory
Page 79 and 80: CHAPTER 4 REGULATION THEORY AS AN I
Page 81 and 82: For Werner Bonefeld, strategic-rela
Page 83 and 84: methodology over another located wi
Page 85 and 86: that realist ontology has decisive
Page 87 and 88: Jessop’s uptake on the concept of
Page 89 and 90: Although, Aglietta studied both the
Page 91 and 92: ecome suitably sedimented in the pr
Page 93 and 94: Thereby, ‘the question’ is not
Page 95 and 96: accumulation’(1991:45-6). Thus th
Page 97 and 98: mechanisms that are set of, more or
Page 99 and 100: along ‘a renewal and reconstructi
Page 101 and 102: compatibility after being establish
Page 103 and 104: For Jessop, his infléchissement of
Page 105 and 106: 13. Bonefeld, W.(1994) ‘Aglietta
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40. Dunford, M.(1990) ‘Theories o
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67. Jessop, B.(2000) ‘The crisis
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95. Perkmann, M.(1996) ‘Regulatio
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