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This paper compares Marx's economics with those by Sraffa, Keynes, Kalecki and Minsky. The paper takes an "ex post … influenced by Marx's work. First, the relationship between Marx's theory of value and Sraffa's reformulation of the classical … theory of prices and distribution is reviewed. Then the relationship between Marx's and Keynes's monetary theory is examined …
Persistent link: https://www.econbiz.de/10011994938
I study the effect of technical change on the equilibrium profit rate in Classical-Marxian models of economic growth with alternative closures. In each model, capitalists adopt a new technique of production only if it will increase the profit rate given their expectations about the movement of...
Persistent link: https://www.econbiz.de/10015070933
A formalisation of Elster's interpretation of Marx's theory of revolution is presented in terms of a one sector model …
Persistent link: https://www.econbiz.de/10014141340
Marx made significant contributions to macroeconomics, laying the grounds for both Keynes's theory of aggregate demand …
Persistent link: https://www.econbiz.de/10011653595
Persistent link: https://www.econbiz.de/10010197446
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This paper takes off from Jan Kregel’s paper “Shylock and Hamlet, or Are There Bulls and Bears in the Circuit?” (1986), which aimed to remedy shortcomings in most expositions of the “circuit approach.” While some “circuitistes” have rejected John Maynard Keynes’s liquidity...
Persistent link: https://www.econbiz.de/10014174676
Both Rosa Luxemburg and Michal Kalecki utilised Marx’s scheme’s or reproduction as the starting point of their analysis …
Persistent link: https://www.econbiz.de/10014040267
This article analyzes the role of the asymmetry hypothesis in Marx’s reproduction schemes. We assume a propensity of … capitalists for endogenous and uniform saving, and study its effect on the result found by Marx. Afterward, the dynamic …
Persistent link: https://www.econbiz.de/10014199532