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Marxian Reproduction Schema : Money and Aggregate Demand in a Capitalist Economy - Andrew Trigg

Marxian Reproduction Schema

Money and Aggregate Demand in a Capitalist Economy

Hardcover

Published: 9th February 2006
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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 Marxa (TM)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.

Introduction
The Multiplier
Marx's Reproduction Schema
The Keynesian Multiplier
Leontief Input-Output Analysis
The Kalecki Principle
Kalecki and the Reproduction Schema
Surplus Value
The Kalecki Multiplier
The Value Form
The Monetary Circuit
The Theory of the Monetary Circuit
A Marxian Alternative
The Macro Monetary Model
Money, Growth and Crisis
Capital Outlays and Sales
Domar and Balanced Reproduction
Conditions for Economic Crisis
Beyond Underconsumption
Disproportionality
Luxemburg and Accumulation
Luxemburg's Two Parallel Questions
The Falling Rate of Profit
Grossmann's Law of Capitalist Breakdown
Return of the Kalecki Principle
Simulation without Breakdown
The Falling Rate of Profit
The Transformation Problem
Marx's Transformation Solution
Marx after Sraffa: the New Interpretation
Generalization of the Macro Monetary Model
Table of Contents provided by Publisher. All Rights Reserved.

ISBN: 9780415336697
ISBN-10: 0415336694
Series: Routledge Frontiers of Political Economy
Audience: Tertiary; University or College
Format: Hardcover
Language: English
Number Of Pages: 130
Published: 9th February 2006
Country of Publication: GB
Dimensions (cm): 21.69 x 15.49  x 1.27
Weight (kg): 0.27
Edition Number: 1