Both Rosa Luxemburg and Michal Kalecki utilised Marx’s scheme’s or reproduction as the starting point of their analysis of economic dynamics. However, Luxemburg did not realise that they were not meant to serve as models of capitalist growth, but rather to show that the conditions for stable...

The 15 years spanning from the end of the nineteenth century till the outbreak of the First World War formed, perhaps, the richest period in the history of Marxian economics. The main development between the time of Marx's writing and that of the German-Russian debates was the change in the...