IDEAS home Printed from https://ideas.repec.org/
MyIDEAS: Login to save this paper or follow this series

Mr Marx and the neoclassics

  • Freeman, Alan

This article, presented to the Annual Conference of the History of Economics Society, Vancouver July 1996, gives a historical analysis of the origins of the general equilibrium or comparative static approach and demonstrates that economic thought as a whole is divided, in each of its schools of thought, between the equilibrium paradigm and its alternative, the temporal paradigm. This applies across the board with, for example, the divergence between Post-Keynesian or Kaleckian economics, between Austrian economics and Walrasian general equilibrium, and in many other contexts. The article demonstrates the difference between the equilibrium and temporal approach using a demonstration of ‘adjustment’ effects in a simple corn-cycle model. It goes on to analyse the reasons why, in the history of thought, adjustment or dynamic effects have been considered as ignorable when in fact they are not. It suggests that the traditional division of the succession of ideas in economic thought – physiocracy, the classics, Marx, marginalism – needs to be reviewed in this light, and argues for a reconsideration of the contribution of Marx to economics, placing him as the first and in many ways the most consistent in a suppressed non-equilibrium tradition in economic thought. It suggests that in this light, Marx has more in common with Austrian and Post-Keynesian thinking than with Ricardo and Smith, among whose ranks he is normally and commonly grouped.

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL: https://mpra.ub.uni-muenchen.de/1291/1/MPRA_paper_1291.pdf
File Function: original version
Download Restriction: no

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 1291.

as
in new window

Length:
Date of creation: Jul 1996
Date of revision:
Handle: RePEc:pra:mprapa:1291
Contact details of provider: Postal: Schackstr. 4, D-80539 Munich, Germany
Phone: +49-(0)89-2180-2219
Fax: +49-(0)89-2180-3900
Web page: https://mpra.ub.uni-muenchen.de

More information through EDIRC

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

as in new window
  1. Alan Freeman & Guglielmo Carchedi (ed.), 1996. "Marx and Non-equilibrium Economics," Books, Edward Elgar, number 737, March.
  2. Dobb,Maurice, 1975. "Theories of Value and Distribution since Adam Smith," Cambridge Books, Cambridge University Press, number 9780521099363.
  3. Samuel Hollander, 1981. "Marxian Economics as ‘General Equilibrium’ Theory," History of Political Economy, Duke University Press, vol. 13(1), pages 121-155, Spring.
Full references (including those not matched with items on IDEAS)

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:1291. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Ekkehart Schlicht)

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.