Economic theory has undergone a very deep transformation during the last forty years. Its method and its tools of analysis have evolved dramatically. The standards by which theoretical statements are now appreciated are far more demanding, especially from a formal point of view, than was the...

More than fifty years after the publication of Keynes' General Theory and of the review article by Hicks, ISLM remains the basic model for teaching Keynesian macroeconomics. Some Keynesians have rightly insisted on the inadequacies of ISLM in capturing Keynes' thought but have not converted the...

The concept of commodity society based on a specific division of labour (opposition between private and social labor) and that of surplus-value are the most prominent achievements of Marx's intellectual efforts in dealing with the economy of capitalism. This paper attempts to evaluate the...

<alinea/> We present a model to analyze different equilibria that exist in an economy in which agents can choose the means of payment to use in trade ; i. e., inside or outside money. Our approach departs from the usual explanation of competition as a phenomenon related to money functions (means of...

Este artículo consideria seriamente la forma del valor como una parte esencial de la crítica de Marx a la economía política. Muestra que esa crítica es particularmente relevante con respecto a la teoría moderna del equilibrio general. Al no dar cabida a los procesos de intercambio...

Se habla recurrentemente de una crisis de la Teoría Económica. Nos parece posible sostener que el fundamento analítico general de todas las crisis posibles de la Economía Política reside en la incompatibilidad entre los objetivos asignados a la teoría económica -lo que se espera de ella-...

The common presentation of political economy as composed of various currents (for example, depending on the theory of value adopted) obscures a more basic distinction: that between real analysis and “monetary analysis". The former starts out from bundles of goods and hence requires a theory of...

This article presents a recent interpretation of ricardian price theory. Some of Piero Sraffa's contributions allow us to show some important equivocations in Karl Marx's reading of Ricardo's theory and, also, the analytical brake between the marxist approach and its classical predecessor....