This paper constructs a specifically Marxian theory of economic crisis from scattered but sufficient theoretical arguments in Marx's work. This theory integrates the following conceptual elements viewed as central: capital accumulation, falling rate of profit, realization problem, the efficiency...

Teaching economics differently summarises how we have taught introductory micro and macroeconomics and what we have learned from that teaching experience over the last 40 years. We explain why teaching both economic theories that celebrate and those that criticise capitalism – together in one...

We argue that Marx provided the basis for a far more complex class analysis of social formations than has been recognized. We find this analysis to be consistent neither with the two-class approach long prevalent in the Marxian tradition nor with recent critiques of that approach by Poulantzas,...

This paper offers a unique Marxian formulation of the transformation of values in prices of production. This formulation-based upon a specific reading of Marx's economics not previously applied to the "transformation problem"-permits a radically new conception and solution to that problem. The...