[OPE-L] new book on Marxian Reproduction Schema

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

A. B. Trigg is Senior Lecturer in Economics at the Open University, UK.

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