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Rosa Luxemburg’s critique of Marx’s schemes of reproduction: a re-evaluation and a possible generalisation

Author

Listed:
  • Desai, Meghnad
  • Veneziani, Roberto

Abstract

Rosa Luxemburg's critique of Marx's Schemes of Reproduction is the only genuinely immanent critique of Marxian dynamics. But it needs to be brought up to date. To this end, in this paper it is placed in the context of more modern discussions of dual instability, in order to gain a better understanding of the role of price - as against quantity - adjustment in tackling instability. This allows us to discuss the path of prices as well as of quantities which have been the sole subject of controversy hitherto. Our approach also allows us to tackle the money circuit of capital parallel to the value circuit as outlined in the first part of Capital Vol 2.

Suggested Citation

  • Desai, Meghnad & Veneziani, Roberto, 2005. "Rosa Luxemburg’s critique of Marx’s schemes of reproduction: a re-evaluation and a possible generalisation," MPRA Paper 30449, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:30449
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    File URL: https://mpra.ub.uni-muenchen.de/30449/1/MPRA_paper_30449.pdf
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    References listed on IDEAS

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    1. Jorgenson, Dale W., 1960. "Growth and Fluctuations: A Causal Interpretation," Scholarly Articles 3403056, Harvard University Department of Economics.
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    Cited by:

    1. Geoffrey Harcourt & Peter Kriesler, 2012. "Michal Kalecki and Rosa Luxemburg on Marx’s schemes of reproduction: two incisive interpreters of capitalism," Discussion Papers 2012-34, School of Economics, The University of New South Wales.

    More about this item

    Keywords

    Rosa Luxemburg; accumulation; dynamic instability; linear models.;

    JEL classification:

    • O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
    • B14 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Socialist; Marxist
    • C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis
    • E11 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Marxian; Sraffian; Kaleckian

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