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The Economic Ideas of Marx's Capital - Steps towards post-Keynesian economics (Hardcover)
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The Economic Ideas of Marx's Capital - Steps towards post-Keynesian economics (Hardcover)
Series: Routledge Frontiers of Political Economy
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Nearly two hundred years have passed since the birth of Karl Marx
and continuing to this day the influence of his economic views,
insights and theories can still be felt. However, since the
publication of Das Kapital, the scientific community has not been
sitting idle - it is time to evaluate Marx as an economist and
explore what he can bring to modern economic thinking, particularly
post-Keynesian economics. Starting with Marx's schemes of
reproduction, which, it is shown, are the basis of the linear model
of production as used since the 1960s by Piero Sraffa, Michio
Morishima and others, the book reviews and assesses Marx's major
economic theses. These include: the labour theory of value;
accumulation and technical change and its impact on labour; the
concept of unproductive labour; the tendential falling rate of
profits; the evolution and determinants of the share of wages in
national income; as well as short-run and long-run economic
dynamics. The Economic Ideas of Marx's Capital updates the theses
of the labour theory of value and the conditions for balanced
growth using the recent scholarly literature, and also further
develops issues related to Marx's concept of productive labour.
Moreover, the book analyses the intellectual relationship of Marx's
economic theory with post-Keynesian neo-Marxism, particularly in
the writings of Michal Kalecki, Joan Robinson and others. By doing
so, the book shows the need and possibilities of integrating major
insights of Marxist and post-Keynesian theory. This volume will be
of interest to those who wish to explore Marx's economic theories
through a non-ideological approach, as well as students of Marxist
economics, post-Keynesian economics and the history of economic
thought.
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