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...

Marx's theory of money is critiqued relative to the advent of fiat and electronic currencies and the development of financial markets. Specific topics of concern include (1) today's identity of the money commodity, (2) possible heterogeneity of the money commodity, (3) the categories of land and...

Marx’s theory of money is critiqued relative to the advent of fiat and electronic currencies and the development of financial markets. Specific topics of concern include (1) today’s identity of the money commodity, (2) possible heterogeneity of the money commodity, (3) the categories of land...

The paper is on one of the best Macroeconomics teachers and a finest Marxists of our time, who is none other than Professor Patnaik. The reading is neither decisive nor trivial to understand the contribution of a behemoth personality, nonetheless, presents a humble perception of some of his work...

Progressive macro-economics is defined as theorizing organized capitalism with the aim of providing a theoretical foundation for macro-ecnomic policy, introducing economic reforms paving the way for the transition towards Socialism. The basis of Progressive Macro-economics is the labour theory...

Keynes told Hicks very clearly on March 31st, 1937 that Keynes had already done what Hicks had done on page 156 of his 1937 Econometrica paper, which was to add Aggregate Actual Income I (Keynes's Y) into the three equation set comprising Hicks's later version of Keynes's IS-LM model. However,...