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 ?
(64) It is in this sphere that the Church took some pains to suggest both the similarities of its applied theology to modern notions of classical and Marxist economics and, more importantly, the differences between the three approaches to understanding the foundations of economic analysis (and thus the foundations for political regulation).
This piece, written well over a decade ago, begins with the words: "Described by the Wall Street Journal as 'the "dean" of radical economics,' Paul Sweezy has more than any other single person kept Marxist economics alive in North America." I had in mind, of course, that remarkable sequence of work from the 1930s through the '80s that Paul had produced.
Richard Wolff, a Marxist economics professor, offers a more ringing defense of "bad" writing.
Vietnam's Economic Policy since 1975 is an analysis of a socialist experience by an economist who has not only studied it thoroughly but lived through it for more than two decades; a voluminous documentation in hand, Vo Nhan Tri has guided his readers through the maze created by the hermetic jargon of Marxist economics and propaganda.
xxviii] "almost alone in regarding the theory of value and surplus value as Marx's most important contribution." In recent decades the dynamic, production-related elements of the transformation problem have continued as a significant element on Marxist economics [Roemer, 1982, pp.
The Marxist economics in Constructing Capitalism are incomplete: Wells does not succeed in fully grounding Marx's foundational concepts, such as his theory of surplus value.
They cover such contextual issues as the crises of Marxism and the transformation of capitalism, Marxism as developed in Marxist-Leninism to France and Italy at the end of the twentieth century, Anglo-Saxon Marxism, and the new Marxist economics. Configurations of Marxist thought include the analytical, the Frankfurt and Budapest schools, ecological Marxism, market socialism, postcolonial studies, class analysis, state theory, theories of racism, and the relationship between Marxism and language, and leading figures examined include Adorno, Badiou, Bhaskar, Bourdieu, Derrida, Foucault, Gramsci, Habermas, Lefebvre, Kozo Uno and Raymond Williams.
Sweezy, which contained a fairly comprehensive review of the prewar history of Marxist economics and at the same time made explanatory use of concepts introduced into mainstream monopoly and oligopoly theory during the preceding decade.
The editor, Phil O'Hara, will be known to readers of this journal as an occasional contributor on aspects of Marxist economics. It is a tribute to his energy that the work was initially planned and organised by him, with the assistance of four associate editors (all from North America) and an editorial board of ten.
Moreover, it was not too long ago that Keynesian and Marxist economics held equal sway in the world's universities.
There is something reassuring about the fact that Lucas has independently reached most of the same conclusions as the "big sabios" of Marxist economics, liberation theology and feminist theory.