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 ?
Most new contributions within Marxian economics were getting more and more exegetical, seeking to explain what the author believed Marx really meant.
He wrote his first book Marxian Economic Theory in 1973 followed by Applied Econometrics in 1976 and Marxian Economics in 1979.
It is no surprise then that Marxian economics has never managed to find its way into mainstream economics and public policy.
The distinctions between the British school of Marxian economics, which had been influenced by the work of Maurice Dobb and had concentrated simply on the quantitative value problem, and the American school of Marxist economics, which was based on Sweezy's Theory of Capitalist Development with its added emphasis on the qualitative value problem thus stood out in bold relief.
Upon reading Joan Robinson's 1942 Essay on Marxian Economics he admitted to being "left with the feeling, which I had before on less evidence, that he had a penetrating and original flair but was a very poor thinker indeed.
Traditional Marxian economics courses also take up the students' time at the expense of modern economics.
One of the great deans emeritus of Marxian economics, he is at the University of California at Santa Cruz, and is the founder of Capitalism, Nature, Socialism: A Journal of Socialist Ecology published since 1990.
58), the substitution of institutional economics for Marxian economics provided the necessary bridge to pragmatism after 1912.
To consider some of these alternatives, I shall begin by tracing the history of Marxian economics in Japan, before going on to look at some of the critical approaches taken by contemporary Japanese scholars.
Marxian economics, while built on Ricardian foundations, never incorporated the Malthusian population principle.
Certainly, neo-classical theory suffers from great deficiencies and inadequacies, but these pale into insignificance beside the proven, fundamental monstrosities of Marxian economics in practice, commended to us by Hollis and Nell for its anti "positivist" methodological foundations.
Instead, Keyssar offers what he deems a "compelling case" for resurrecting the notion of the "reserve army of the unemployed," a concept linked with Marxian economics.