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Growth, exploitation and class inequalities

Galanis, Giorgos; Veneziani, Roberto; Yoshihara, Naoki - 2017

This paper provides a formal dynamic analysis of exploitation, class inequalities and profits. A stylised model of a … existence of exploitation. Second, it is shown that, in a competitive environment, asset inequalities are fundamental for the … emergence of exploitation, but they are not sufficient for its persistence, both in equilibria with accumulation and growth, and …

Persistent link: https://www.econbiz.de/10011927981

The structure and content of Das Kapital

Basu, Deepankar - 2017

Karl Marx's magnum opus, Das Kapital, presents an analysis of the long run dynamics of a mature capitalist economy. The analysis is conducted at two primary levels of abstraction - "capital in general" (where competition between individual capitals is abstracted from) and "many capitals" (where...

Persistent link: https://www.econbiz.de/10011788915

Der spezifische Liberalismus von Hayek im Spektrum des Neoliberalismus

Quaas, Friedrun - 2019

Friedrich August von Hayek hat der Nachwelt ein breites theoretisches Werk hinterlassen. Ein durchgängiger Wesenszug darin ist sein spezifischer Liberalismus, der durch einen negativen Begriff von Freiheit bestimmt ist. Damit verbunden ist Hayeks ausgeprägter methodologischer Individualismus....

Persistent link: https://www.econbiz.de/10011985041

Karl Marx: An early post-Keynesian? A comparison of Marx's economics with the contributions by Sraffa, Keynes, Kalecki and Minsky

Hein, Eckhard - 2019

This paper compares Marx's economics with those by Sraffa, Keynes, Kalecki and Minsky. The paper takes an "ex post" view on the matter and rather looks at the output side of the respective authors, but not at the input side. This means no attempt is made at studying in a systematic way, if and...

Persistent link: https://www.econbiz.de/10011997039

Capital, non-capital and transformative politics in contemporary India

Basu, Deepankar - 2019

Kalyal Sanayal's work on postcolonial capitalism has been influential in many strands of critical social theory. In this brief note, I investigate three key components of his argument and find them wanting. In particular, I show that the evolution of land ownership in India does not support the...

Persistent link: https://www.econbiz.de/10012059909

Finance and crisis: Marxian, institutionalist and circuitist approaches

Argitis, Georgios; Evans, Trevor; Michell, Jo; … - 2014

Most mainstream neoclassical economists completely failed to anticipate the crisis which broke in 2007 and 2008. There is however a long tradition of economic analysis which emphasises how growth in a capitalist economy leads to an accumulation of tensions and results in periodic crises. This...

Persistent link: https://www.econbiz.de/10010435907

Theories of finance and financial crisis: Lessons for the Great Recession

Dodig, Nina; Herr, Hansjörg - 2015

This paper presents an overview of different models which explain financial crises, with the aim of understanding economic developments during and possibly after the Great Recession. In the first part approaches based on efficient markets and rational expectations hypotheses are analyzed, which...

Persistent link: https://www.econbiz.de/10010491264

Long waves of capitalist development: An empirical investigation

Basu, Deepankar - 2016

In this paper, I investigate the phenomenon of long waves of capitalist development from two perspectives. First, I look for evidence of long waves of economic growth taking the dates for turning points of long waves from the historical literature (Mandel, 1995). Using historical data for 20...

Persistent link: https://www.econbiz.de/10011788901

A unified Marxist approach to accumulation and crisis in capitalist economies

Basu, Deepankar - 2017

An economic crisis in capitalism is a deep and prolonged interruption of the economy-wide circuit of capital. Crises emerge from within the logic of capitalism's operation, and are manifestations of the inherently contradictory process of capital accumulation. The Marxist tradition...

Persistent link: https://www.econbiz.de/10011788924

Karl Marx's thoughts on functional income distribution - a critical analysis

Herr, Hansjörg - 2018

Keynes, following the tradition of Marx, argued that all values are created by labour and profits. However, functional income distribution between wages and profits is explained differently. In Marx's explanation of functional income distribution, wages are given as a basket of goods needed for...

Persistent link: https://www.econbiz.de/10011807013