How Labor Powers the Global Economy: A Labor Theory of Capitalism

This book presents a probabilistic approach to studying the fundamental role of labor in capitalist economies and develops a non-deterministic theoretical framework for the foundations of political economy. By applying the framework to real-world data, the authors offer new insights into the dynamics of growth, wages, and accumulation in capitalist development around the globe.

The book demonstrates that a probabilistic political economy based on labor inputs enables us to describe centra...