Marxian economics

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Marxian economics

the body of economic analysis deriving from the work of MARX, especially Capital (1867) (see also CLASSICAL ECONOMISTS). The distinctive approach of Marxian economists involves a general analysis of the long-run accumulation of capital, and developments and crises in the capitalist system (see CRISES OF CAPITALISM). While some Marxian economists apply Marx's own ideas rigidly, others, e.g. the work of Paul Baran and Paul Sweezy (1966), offer reinterpretations of these conceptions. For example, the LABOUR THEORY OF VALUE which is central in classical Marxist economics, is rejected by others, e.g. Pierre Sraffa (1960), Steedman et al. (1981), who nevertheless preserve many of Marx's essential insights compared with more orthodox economics (see also EXPLOITATION). Marxian economics has also been of particular importance in recent years in analysis of the world economy – see DEPENDENCY THEORY.
References in periodicals archive ?
Although from the discipline of economics, this theory is highly relevant to the theoretical alternative needed to conduct Marxian political economy in terms independent of the mainstream theory of competition, as well as the mainstream economic categories that many Left analysts uncritically use in the place of Marxian measures.
But somewhere in the late 1970s or early 1980s, when I had just arrived in Marxist heaven, it seems to me (in retrospect) that Marxian economics got stuck.
During these moments, Budge suggests that thinkers like Coleridge who hailed the "visionary intuitions" of individual geniuses as antidotes to the democratic "abstraction" of the revolutionary project prefigure the Marxian insight that "bourgeois political economy has made material relationships become immaterial, or spectral" (88).
He wrote his first book Marxian Economic Theory in 1973 followed by Applied Econometrics in 1976 and Marxian Economics in 1979.
Armed rebels from the Middle East such as the PKK in Turkey-the Kurdish Workers Party- to Marxist-Leninist-Maoist parties and rebels in Nepal and India found inspiration in Marxian ideology.
As the world slowly emerges from a recession, contentions over the sources of decline and recovery are reigniting a debate among proponents of three disciplines of economics: neoclassical, Keynesian, and Marxian.
As we will try to demonstrate, the mighty specter of Hegel was always behind Marxian works, that is to say a perfect example of Aufhebung of Hegelian ascendency.
Capitalism was doomed--not by its failures, as in Marxian analysis, but by its successes.
Sotiropoulos (economics, Kingston University), Milios (economics, University of Crete), and Lapatsioras (economics, University of Crete) employ international examples and use Marxian concepts and arguments to discern the true nature of the modern neoliberal form of capitalism and the recent financial crisis.
Though (broadly socialist) "traditionalists" receive mostly sympathetic treatment at the hands of the author, the book's intellectual focus rests firmly on the latter terrain--and this separation is bound to feel a little cutting for anyone possessing more than a passing Marxian conviction.
His earliest publications were in the areas of labour economics (his book Labour Economics was published in 1972) and Marxian economics (the first edition of The Political Economy of Marx, jointly authored by Michael Howard, was published in 1975).
Jeffrey Reiman, As Free and as Just as Possible: The Theory of Marxian Liberalism (Oxford: Wiley-Blackwell, 2012)