Starting from Schumpeter's important distinction between "real analysis" and "monetary analysis", in this paper it is shown that major elements of Marx's economic theory fall in the camp of monetary analysis and the implications for Marx's theory of capital accumulation are derived. First,...

Foreword / by Philip Arestis -- Acknowledgements -- List of figures and tables -- List of variables -- Introduction -- Real and monetary analysis in economic paradigms -- Real and monetary analysis in economic paradigms: introduction -- Real analysis in classical, neoclassical, neoclassical...

Money, distribution and economic policy takes issue with the inappropriate treatment of money, effective demand and distribution issues in modern mainstream macroeconomics. It presents contributions which are critical of modern orthodoxy and which explore alternative approaches to macroeconomics...