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The circuit of value outlined in the second volume of Marx's Capital provides a coherent framework for the characterization of macroeconomic phenomena from a classical perspective. This paper builds on Foley's (Journal of Economic Theory, 28 (1982), pp. 300-319) formal reconstruction of the...
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-prey' growth cycle model of the economy (Goodwin, R. M. 1967. A growth cycle, pp. 54-8 in Feinstein, C. H. (ed), Socialism …
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