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A Marx 'crises' model: The reproduction schemes revisited

Author

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  • Marco Veronese Passarella

    (University of Leeds)

Abstract

This paper builds upon the Marxian reproduction schemes. It aims to test the impact of some of the most apparent 'stylised facts' which characterise the current phase of capitalism on an artificial two-sector growing economy. It is shown that, simplified though they are, the Marxian reproduction schemes allow framing a variety of radical and other ‘dissenting’ renditions of the recent economic and financial crises of early-industrialised countries with a flexible and sound analytical model.

Suggested Citation

  • Marco Veronese Passarella, 2016. "A Marx 'crises' model: The reproduction schemes revisited," Working Papers PKWP1610, Post Keynesian Economics Society (PKES).
    • Handle: RePEc:pke:wpaper:pkwp1610
    as

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    File URL: https://www.postkeynesian.net/downloads/working-papers/PKWP1610_MbJY9lo.pdf
    File Function: First version, 2016
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    References listed on IDEAS

    as
    1. Anthony P. Thirlwall, 2011. "The Balance of Payments Constraint as an Explanation of International Growth Rate Differences," PSL Quarterly Review, Economia civile, vol. 64(259), pages 429-438.
    2. Marco Veronese Passarella & Hervé Baron, 2015. "Capital’s humpback bridge: ‘financialisation’ and the rate of turnover in Marx’s economic theory," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 39(5), pages 1415-1441.
    3. Marc Lavoie, 2014. "Post-Keynesian Economics: New Foundations," Post-Print hal-01343652, HAL.
    4. Joan Robinson, 1962. "Essays in the Theory of Economic Growth," Palgrave Macmillan Books, Palgrave Macmillan, number 978-1-349-00626-7, December.
    5. Malcolm Sawyer & Marco Veronese Passarella, 2017. "The Monetary Circuit in the Age of Financialisation: A Stock-Flow Consistent Model with A Twofold Banking Sector," Metroeconomica, Wiley Blackwell, vol. 68(2), pages 321-353, May.
    6. Marc Lavoie, 2022. "Post-Keynesian Economics," Books, Edward Elgar Publishing, number 19900, May.
    7. Erik K. Olsen, 2015. "Unproductive Activity and Endogenous Technological Change in a Marxian Model of Economic Reproduction and Growth," Review of Radical Political Economics, Union for Radical Political Economics, vol. 47(1), pages 34-55, March.
    8. ., 2014. "Essentials of heterodox and post-Keynesian economics," Chapters, in: Post-Keynesian Economics, chapter 1, pages 1-71, Edward Elgar Publishing.
    9. Marx, Karl, 1867. "Capital: A Critique of Political Economy (I): The Process of Capitalist Production," History of Economic Thought Books, McMaster University Archive for the History of Economic Thought, volume 1, number marx1867.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Marx; Crisis; Reproduction Schemes; Post-Keynesian Economics;
    All these keywords.

    JEL classification:

    • B50 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - General
    • E11 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Marxian; Sraffian; Kaleckian
    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory

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