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A Note on the Surplus Approach as ‘Neo-Marxian’ Political Economy

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  • Massimo Pivetti

Abstract

After a short survey of the reasons why the label ‘Neo-Ricardianism’ customarily fixed to the surplus approach to political economy should be discarded for good, the note focuses on Marx's analysis of the influence of income distribution on the incentive to invest and technical change. It is held that it is principally this analysis that should be taken as the foundation for any further development of the surplus approach, with a view to putting together the essential elements of an alternative theory of employment and activity levels within which also the role of the State and its economic policy may be critically dealt with.

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  • Massimo Pivetti, 2023. "A Note on the Surplus Approach as ‘Neo-Marxian’ Political Economy," Review of Political Economy, Taylor & Francis Journals, vol. 35(3), pages 791-802, July.
    • Handle: RePEc:taf:revpoe:v:35:y:2023:i:3:p:791-802
    DOI: 10.1080/09538259.2022.2099677
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