This article updates the paper ‘Mr Marx and the Neoclassics’ presented at the July 1996 conference of the History of … orthodox interpretations of Marx’s thought. It provides a rigorous value-theoretic account of the falling profit rate, of … crisis, and of unequal world development rooted in an account of the value-price relation that conforms to Marx’s disputed …

-ignored assertion of Marx, repeated throughout his works, that the equality of supply and demand is contingent and their non …-equality constitutes their law. This highly complex and original idea leads us to the idea of capitalism, and a market, as an entity which … fundamental and unrecognised difference between Marx’s approach and that of the classicals also distinguishes Marx from most …