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.
Collins Dictionary of Sociology, 3rd ed. © HarperCollins Publishers 2000
References in periodicals archive ?
Polish Marxist economist and organizer of Jewish workers Grossman (1881-1950) was concerned throughout his career with making the Marxist case for revolutionary working-class action.
Kolkata: Eminent Marxist economist Ashok Mitra, who served as Chief Economic Adviser during Indira Gandhi's prime ministerial tenure and as Finance Minister of West Bengal, passed away at a nursing home here on Tuesday following old age complications.
Kowalik's treatment of Lenin as a critic of Luxemburg is also interesting, not because that criticism is extensive (it was in fact quite limited) and invariably correct, but because it points to the early strengths of Lenin as a Marxist economist. This is done (pp.
Ernest Mandel, a Marxist economist and political theorist, once wrote:
If you didn't believe that, you couldn't be a Marxist economist.
Tsakalotos, a low-key Oxford University-trained Marxist economist, was at the finance helm when Greece and its creditors produced an 86 billion-euro loan accord on August.
Speaking with a student, a Marxist economist from China finishing up a Fulbright fellowship, he asked the student if he found anything surprising during his stay in America.
However Sir Alan Beith, the former Liberal Democrat MP for Berwick, who taught at Newcastle University's politics department in the 1970s, said it was surprising that a Marxist economist would have emerged from the institution.
Although strident criticism of the way Greece has been treated is typical for Varoufakis, a Marxist economist, the remarks caused a stir in Germany where voters and politicians are increasingly reluctant to lend Greece money.
Kliman (2012: 218), for instance, includes a link to an audio-recorded debate he had with the French Marxist economist Gerard Dumenil at a conference in New York in 2010.