Using a structural VAR with block exogeneity, diagonality and identifying restrictions, this paper analyzes: first, the macroeconomic linkages among the oil price, U.S. output, interest rate, money supply, general price level and exchange rate and second, the relationships of the macroeconomic variables with the price indices of ten international nonfuel commodity groups. By assuming the block ...

In their article, “Conjunctures, Commodities, and Social State Marxism,” Stephen Shapiro discusses our current moment as the conjuncture of three temporalities: a secular trend centrist liberalism, Kress cycle managerial capitalism, Kondratieff waves. These can be understood by addition implied terms in Marx’s advanced discussion commodity-form through an approach that calls Marxism.