In 1878 Karl Marx developed the reproduction schema: his model of how total capital is produced and reproduced. This is thought to be the first two-sector economic model ever constructed. Two key aspects of Marx´s writings are widely agreed to be undeveloped: The role of aggregate demand and the role of money. This book synthesizes various strands of economic thought to enable the reader to understand and clarify the structure of the reproduction schema. This synthesis will challenge prevailing orthodoxies.
This book constructs a macro monetary model which draws on a wide range of economic theories, within both the Marxian economic tradition, and the tradition of Keynes, Kalecki, Domar, Sraffa and Leontief. Marxian economics has been dominated by supply-side thinking, including general equilibrium theory and pronouncements about the shortage of surplus value, whilst Post Keynesians have failed to take seriously the importance of reproduction and the multisectoral structure of capitalism. By locating aggregate demand and the circuit of money in the reproduction schema, this key book provides an analytical contribution to both Marxian and Post Keynesian economics.
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Marx is still the most well-known economist, and studies of Marxian economics tend to do well
Trigg is an up and coming economist who has already written two textbooks including a key introduction to microeconomics for Thomson
He is the first to examine Marx's reproduction schema
1. Introduction 2. The Multiplier 3. The Kalecki Principle 4. The Monetary Circuit 5. Money, Growth and Crisis 6. Beyond Underconsumption 7. The Falling Rate of Profit 8. The Transformation Problem
In this book, Andrew Trigg relates Marx's reproduction schema to Keynes's multiplier, Leontieff's input-output analysis, Domar's growth model and Kalecki's principle - in the process offering intriguing and innovative clarifications.
Inhaltsverzeichnis
1. Introduction 2. The Multiplier 3. The Kalecki Principle 4. The Monetary Circuit 5. Money, Growth and Crisis 6. Beyond Underconsumption 7. The Falling Rate of Profit 8. The Transformation Problem
Klappentext
In this book, Andrew Trigg relates Marx's reproduction schema to Keynes's multiplier, Leontieff's input-output analysis, Domar's growth model and Kalecki's principle - in the process offering intriguing and innovative clarifications.
