From: Ian Wright (wrighti@ACM.ORG)
Date: Tue Feb 14 2006 - 12:02:46 EST
Marxian Reproduction Schema (by A.B. Trigg: Routledge, ISBN 0-415-33669-4) In 1878 Karl Marx developed the reproduction schema: his model of how total capital is produced and reproduced. This is thought to be the first two-sector economic model ever constructed. Two key aspects of Marx's writings are widely agreed to be undeveloped: the role of aggregate demand and the role of money. This book has as its aim the synthesis of various strands of economic thought in an attempt to understand and clarify the structure of the reproduction schema. This synthesis will challenge prevailing orthodoxies. A macro monetary model is constructed which draws on a wide range of economic theories, both within the Marxian economic tradition, and further a field in the traditions of Keynes, Kalecki, Domar, Sraffa and Leontief. Marxian economics has been dominated by supply-side thinking, including general equilibrium theory and pronouncements about the shortage of surplus value; Post Keynesians have failed to take seriously the importance of reproduction and the multisectoral structure of capitalism. By locating aggregate demand and the circuit of money in the reproduction schema, the objective of this book is to provide an analytical contribution to both Marxian and Post Keynesian economics. A. B. Trigg is Senior Lecturer in Economics at the Open University, UK.
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