This paper develops a discrete-time formalization of the circuit of capital model presented by Marx in Volume II of Capital Marx (1993) as a tool for aggregate economic analysis of capitalist economies. The discrete-time formalization closely follows and extends the continuous-time formalization...

Marx made significant contributions to macroeconomics, laying the grounds for both Keynes's theory of aggregate demand and Schumpeter's theory of creative destruction. His law of the tendency of the rate of profit to fall parallels Alvin Hansen's theory of secular stagnation which has recently...

This paper argues that institutions and policies deeply embedded in neoliberal structures have created conditions that make it difficult for large nonfinancial corporations to operate effectively. Important globally-contested industries are understood to be "natural oligopolies" that require...

This volume focuses on changes to class formation and the state-form in Latin America. It explores the relationships between state and market in countries endowed with vast natural resource wealth such as Argentina, Bolivia, Brazil and Venezuela