The World Review of Political Economy, (Volume 16, Issue 4), opens with “On the Law of Slow Growth under Capitalist Private Ownership”, by Enfu Cheng, Libing Sun and Wenbin Xu. The article explores how even when unfavourable factors are excluded, capitalist economies such as the United States, the United Kingdom, Japan, and India have historically grown more slowly than socialist economies like China and the former Soviet Union. In “Revisiting the Estimations of the Rate of Profit for the US Economy: Does the Measure of Gross Capital Stock Matter?” Dimitris Paitaridis and Lefteris Tsoulfidis, argue that employing gross capital stock, rather than the net stock reported by the Bureau of Economic Analysis (BEA), provides a more accurate measure of the available capital. In Carlos Alberto Duque Garcia applies Marx’s insights on foreign trade to examine “Terms of Trade and the Rate of Profit in South America, 1962–2019: A Marxist Political Economy Approach”.

In “Why the Textbook Theory of Price Needs to Be Scrapped”, Howard Nicholas and Bram Nicholas, argue that the failure of the Modern Quantity Theory of Money (MQTM) to adequately explain the aggregate price level stems from its reliance on neoclassical price theory. In “Devouring Mainstream Economics: Oskar Lange’s War Strategy to (Def)eat Bourgeois Political Economy”, Tiago Camarinha Lopes and Lucas Henrique Campos Marin, present what they call “Langean Anthropophagy”. They argue that Lange’s unfinished masterpiece Political Economy is framed by a creative method of engaging critically with bourgeois economic thought following the marginalist revolution, a method that has not yet been fully appreciated. Finally, this issue closes with an introduction to Fred Moseley’s recent book “Introduction to Marx’s Theory of Value in Chapter 1 of Capital : A Critique of Heinrich’s Value-Form Interpretation”.