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...

I count it a great privilege to contribute an essay to the volume for John Henry. I have known him since he was a doctoral student at McGill in the 1970s. John was supervised by my old and dear friend, the late Athanasios (Tom) Asimakopulos. (Tom and I were Ph.D students at King's, Cambridge in...