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class="vector-toc-numb">2.1</span> <span>Methodology</span> </div> </a> <ul id="toc-Methodology-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Commodities" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Commodities"> <div class="vector-toc-text"> <span class="vector-toc-numb">2.2</span> <span>Commodities</span> </div> </a> <ul id="toc-Commodities-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Money" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Money"> <div class="vector-toc-text"> <span class="vector-toc-numb">2.3</span> <span>Money</span> </div> </a> <ul id="toc-Money-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Production" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Production"> <div class="vector-toc-text"> <span class="vector-toc-numb">2.4</span> <span>Production</span> </div> </a> <ul id="toc-Production-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Labor_theory_of_value" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Labor_theory_of_value"> <div class="vector-toc-text"> <span class="vector-toc-numb">2.5</span> <span>Labor theory of value</span> </div> </a> <ul id="toc-Labor_theory_of_value-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Abstract_labor" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Abstract_labor"> <div class="vector-toc-text"> <span class="vector-toc-numb">2.6</span> <span>Abstract labor</span> </div> </a> <ul id="toc-Abstract_labor-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Surplus_value" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Surplus_value"> <div class="vector-toc-text"> <span class="vector-toc-numb">2.7</span> <span>Surplus value</span> </div> </a> <ul id="toc-Surplus_value-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Effect_of_technical_progress" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Effect_of_technical_progress"> <div class="vector-toc-text"> <span class="vector-toc-numb">2.8</span> <span>Effect of technical progress</span> </div> </a> <ul id="toc-Effect_of_technical_progress-sublist" class="vector-toc-list"> </ul> </li> </ul> </li> <li id="toc-Current_theorizing_in_Marxian_economics" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Current_theorizing_in_Marxian_economics"> <div class="vector-toc-text"> <span class="vector-toc-numb">3</span> <span>Current theorizing in Marxian economics</span> </div> </a> <ul id="toc-Current_theorizing_in_Marxian_economics-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Criticism" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Criticism"> <div class="vector-toc-text"> <span class="vector-toc-numb">4</span> <span>Criticism</span> </div> </a> <ul id="toc-Criticism-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Relevance_in_economics" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Relevance_in_economics"> <div class="vector-toc-text"> <span class="vector-toc-numb">5</span> <span>Relevance in economics</span> </div> </a> <ul id="toc-Relevance_in_economics-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Neo-Marxian_economics" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Neo-Marxian_economics"> <div class="vector-toc-text"> <span class="vector-toc-numb">6</span> <span>Neo-Marxian economics</span> </div> </a> <button aria-controls="toc-Neo-Marxian_economics-sublist" class="cdx-button cdx-button--weight-quiet cdx-button--icon-only vector-toc-toggle"> <span class="vector-icon mw-ui-icon-wikimedia-expand"></span> <span>Toggle Neo-Marxian economics subsection</span> </button> <ul id="toc-Neo-Marxian_economics-sublist" class="vector-toc-list"> <li id="toc-Concepts" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Concepts"> <div class="vector-toc-text"> <span class="vector-toc-numb">6.1</span> <span>Concepts</span> </div> </a> <ul id="toc-Concepts-sublist" class="vector-toc-list"> <li id="toc-Labor_theory_of_value_2" class="vector-toc-list-item vector-toc-level-3"> <a class="vector-toc-link" href="#Labor_theory_of_value_2"> <div class="vector-toc-text"> <span class="vector-toc-numb">6.1.1</span> <span>Labor theory of value</span> </div> </a> <ul id="toc-Labor_theory_of_value_2-sublist" class="vector-toc-list"> </ul> </li> </ul> </li> </ul> </li> <li id="toc-See_also" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#See_also"> <div class="vector-toc-text"> <span class="vector-toc-numb">7</span> <span>See also</span> </div> </a> <ul id="toc-See_also-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-References" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#References"> <div class="vector-toc-text"> <span class="vector-toc-numb">8</span> <span>References</span> </div> </a> <button aria-controls="toc-References-sublist" class="cdx-button cdx-button--weight-quiet cdx-button--icon-only vector-toc-toggle"> <span class="vector-icon mw-ui-icon-wikimedia-expand"></span> <span>Toggle References subsection</span> </button> <ul id="toc-References-sublist" class="vector-toc-list"> <li id="toc-Works_cited" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Works_cited"> <div class="vector-toc-text"> <span class="vector-toc-numb">8.1</span> <span>Works cited</span> </div> </a> <ul id="toc-Works_cited-sublist" class="vector-toc-list"> </ul> </li> </ul> </li> <li id="toc-Further_reading" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Further_reading"> <div class="vector-toc-text"> <span class="vector-toc-numb">9</span> <span>Further reading</span> </div> </a> <ul id="toc-Further_reading-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-External_links" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#External_links"> <div class="vector-toc-text"> <span class="vector-toc-numb">10</span> <span>External links</span> </div> </a> <ul id="toc-External_links-sublist" class="vector-toc-list"> </ul> </li> </ul> </div> </div> </nav> </div> </div> <div class="mw-content-container"> <main id="content" class="mw-body"> <header class="mw-body-header vector-page-titlebar"> <nav aria-label="Contents" class="vector-toc-landmark"> <div id="vector-page-titlebar-toc" class="vector-dropdown vector-page-titlebar-toc vector-button-flush-left" > <input type="checkbox" id="vector-page-titlebar-toc-checkbox" role="button" aria-haspopup="true" data-event-name="ui.dropdown-vector-page-titlebar-toc" class="vector-dropdown-checkbox " aria-label="Toggle the table of contents" > <label id="vector-page-titlebar-toc-label" for="vector-page-titlebar-toc-checkbox" class="vector-dropdown-label cdx-button cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--weight-quiet cdx-button--icon-only " aria-hidden="true" ><span class="vector-icon mw-ui-icon-listBullet mw-ui-icon-wikimedia-listBullet"></span> <span class="vector-dropdown-label-text">Toggle the table of contents</span> </label> <div class="vector-dropdown-content"> <div id="vector-page-titlebar-toc-unpinned-container" class="vector-unpinned-container"> </div> </div> </div> </nav> <h1 id="firstHeading" class="firstHeading mw-first-heading"><span class="mw-page-title-main">Marxian economics</span></h1> <div id="p-lang-btn" class="vector-dropdown mw-portlet mw-portlet-lang" > <input type="checkbox" id="p-lang-btn-checkbox" role="button" aria-haspopup="true" data-event-name="ui.dropdown-p-lang-btn" class="vector-dropdown-checkbox mw-interlanguage-selector" aria-label="Go to an article in another language. Available in 36 languages" > <label id="p-lang-btn-label" for="p-lang-btn-checkbox" class="vector-dropdown-label cdx-button cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--weight-quiet cdx-button--action-progressive mw-portlet-lang-heading-36" aria-hidden="true" ><span class="vector-icon mw-ui-icon-language-progressive mw-ui-icon-wikimedia-language-progressive"></span> <span class="vector-dropdown-label-text">36 languages</span> </label> <div class="vector-dropdown-content"> <div class="vector-menu-content"> <ul class="vector-menu-content-list"> <li class="interlanguage-link interwiki-ang mw-list-item"><a href="https://ang.wikipedia.org/wiki/Marces%C4%A1ieldend_wealhsp%C4%93d" title="Marcesġieldend wealhspēd – Old English" lang="ang" hreflang="ang" data-title="Marcesġieldend wealhspēd" data-language-autonym="Ænglisc" data-language-local-name="Old English" class="interlanguage-link-target"><span>Ænglisc</span></a></li><li class="interlanguage-link interwiki-ar mw-list-item"><a href="https://ar.wikipedia.org/wiki/%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF_%D9%85%D8%A7%D8%B1%D9%83%D8%B3%D9%8A" title="اقتصاد ماركسي – Arabic" lang="ar" hreflang="ar" data-title="اقتصاد ماركسي" data-language-autonym="العربية" data-language-local-name="Arabic" class="interlanguage-link-target"><span>العربية</span></a></li><li class="interlanguage-link interwiki-az mw-list-item"><a href="https://az.wikipedia.org/wiki/Marksist_m%C9%99kt%C9%99b" title="Marksist məktəb – Azerbaijani" lang="az" hreflang="az" data-title="Marksist məktəb" data-language-autonym="Azərbaycanca" data-language-local-name="Azerbaijani" class="interlanguage-link-target"><span>Azərbaycanca</span></a></li><li class="interlanguage-link interwiki-bg mw-list-item"><a href="https://bg.wikipedia.org/wiki/%D0%9C%D0%B0%D1%80%D0%BA%D1%81%D0%B8%D1%81%D1%82%D0%BA%D0%B0_%D0%B8%D0%BA%D0%BE%D0%BD%D0%BE%D0%BC%D0%B8%D1%87%D0%B5%D1%81%D0%BA%D0%B0_%D1%82%D0%B5%D0%BE%D1%80%D0%B8%D1%8F" title="Марксистка икономическа теория – Bulgarian" lang="bg" hreflang="bg" data-title="Марксистка икономическа теория" data-language-autonym="Български" data-language-local-name="Bulgarian" class="interlanguage-link-target"><span>Български</span></a></li><li class="interlanguage-link interwiki-ca mw-list-item"><a href="https://ca.wikipedia.org/wiki/Economia_marxista" title="Economia marxista – Catalan" lang="ca" hreflang="ca" data-title="Economia marxista" data-language-autonym="Català" data-language-local-name="Catalan" class="interlanguage-link-target"><span>Català</span></a></li><li class="interlanguage-link interwiki-cs mw-list-item"><a href="https://cs.wikipedia.org/wiki/Marxistick%C3%A1_ekonomie" title="Marxistická ekonomie – Czech" lang="cs" hreflang="cs" data-title="Marxistická ekonomie" data-language-autonym="Čeština" data-language-local-name="Czech" class="interlanguage-link-target"><span>Čeština</span></a></li><li class="interlanguage-link interwiki-da mw-list-item"><a href="https://da.wikipedia.org/wiki/Marxistisk_%C3%B8konomi" title="Marxistisk økonomi – Danish" lang="da" hreflang="da" data-title="Marxistisk økonomi" data-language-autonym="Dansk" data-language-local-name="Danish" class="interlanguage-link-target"><span>Dansk</span></a></li><li class="interlanguage-link interwiki-de mw-list-item"><a href="https://de.wikipedia.org/wiki/Marxistische_Wirtschaftstheorie" title="Marxistische Wirtschaftstheorie – German" lang="de" hreflang="de" data-title="Marxistische Wirtschaftstheorie" data-language-autonym="Deutsch" data-language-local-name="German" class="interlanguage-link-target"><span>Deutsch</span></a></li><li class="interlanguage-link interwiki-es mw-list-item"><a href="https://es.wikipedia.org/wiki/Econom%C3%ADa_marxista" title="Economía marxista – Spanish" lang="es" hreflang="es" data-title="Economía marxista" data-language-autonym="Español" data-language-local-name="Spanish" class="interlanguage-link-target"><span>Español</span></a></li><li class="interlanguage-link interwiki-eu mw-list-item"><a href="https://eu.wikipedia.org/wiki/Ekonomia_marxista" title="Ekonomia marxista – Basque" lang="eu" hreflang="eu" data-title="Ekonomia marxista" data-language-autonym="Euskara" data-language-local-name="Basque" class="interlanguage-link-target"><span>Euskara</span></a></li><li class="interlanguage-link interwiki-fa mw-list-item"><a href="https://fa.wikipedia.org/wiki/%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF_%D9%85%D8%A7%D8%B1%DA%A9%D8%B3%DB%8C" title="اقتصاد مارکسی – Persian" lang="fa" hreflang="fa" data-title="اقتصاد مارکسی" data-language-autonym="فارسی" data-language-local-name="Persian" class="interlanguage-link-target"><span>فارسی</span></a></li><li class="interlanguage-link interwiki-fr mw-list-item"><a href="https://fr.wikipedia.org/wiki/%C3%89conomie_marxiste" title="Économie marxiste – French" lang="fr" hreflang="fr" data-title="Économie marxiste" data-language-autonym="Français" data-language-local-name="French" class="interlanguage-link-target"><span>Français</span></a></li><li class="interlanguage-link interwiki-gl mw-list-item"><a href="https://gl.wikipedia.org/wiki/Econom%C3%ADa_marxista" title="Economía marxista – Galician" lang="gl" hreflang="gl" data-title="Economía marxista" data-language-autonym="Galego" data-language-local-name="Galician" class="interlanguage-link-target"><span>Galego</span></a></li><li class="interlanguage-link interwiki-ko mw-list-item"><a href="https://ko.wikipedia.org/wiki/%EB%A7%88%EB%A5%B4%ED%81%AC%EC%8A%A4%EC%A3%BC%EC%9D%98_%EA%B2%BD%EC%A0%9C%ED%95%99" title="마르크스주의 경제학 – Korean" lang="ko" hreflang="ko" data-title="마르크스주의 경제학" data-language-autonym="한국어" data-language-local-name="Korean" class="interlanguage-link-target"><span>한국어</span></a></li><li class="interlanguage-link interwiki-id mw-list-item"><a href="https://id.wikipedia.org/wiki/Ekonomi_Marxian" title="Ekonomi Marxian – Indonesian" lang="id" hreflang="id" data-title="Ekonomi Marxian" data-language-autonym="Bahasa Indonesia" data-language-local-name="Indonesian" class="interlanguage-link-target"><span>Bahasa Indonesia</span></a></li><li class="interlanguage-link interwiki-hu mw-list-item"><a href="https://hu.wikipedia.org/wiki/Marxista_k%C3%B6zgazdas%C3%A1gtan" title="Marxista közgazdaságtan – Hungarian" lang="hu" hreflang="hu" data-title="Marxista közgazdaságtan" data-language-autonym="Magyar" data-language-local-name="Hungarian" class="interlanguage-link-target"><span>Magyar</span></a></li><li class="interlanguage-link interwiki-ml mw-list-item"><a href="https://ml.wikipedia.org/wiki/%E0%B4%AE%E0%B4%BE%E0%B5%BC%E0%B4%95%E0%B5%8D%E0%B4%B8%E0%B4%BF%E0%B4%AF%E0%B5%BB_%E0%B4%B8%E0%B4%BE%E0%B4%AE%E0%B5%8D%E0%B4%AA%E0%B4%A4%E0%B5%8D%E0%B4%A4%E0%B4%BF%E0%B4%95_%E0%B4%B5%E0%B5%80%E0%B4%95%E0%B5%8D%E0%B4%B7%E0%B4%A3%E0%B4%82" title="മാർക്സിയൻ സാമ്പത്തിക വീക്ഷണം – Malayalam" lang="ml" hreflang="ml" data-title="മാർക്സിയൻ സാമ്പത്തിക വീക്ഷണം" data-language-autonym="മലയാളം" data-language-local-name="Malayalam" class="interlanguage-link-target"><span>മലയാളം</span></a></li><li class="interlanguage-link interwiki-nl mw-list-item"><a href="https://nl.wikipedia.org/wiki/Marxistische_economie" title="Marxistische economie – Dutch" lang="nl" hreflang="nl" data-title="Marxistische economie" data-language-autonym="Nederlands" data-language-local-name="Dutch" class="interlanguage-link-target"><span>Nederlands</span></a></li><li class="interlanguage-link interwiki-ja mw-list-item"><a href="https://ja.wikipedia.org/wiki/%E3%83%9E%E3%83%AB%E3%82%AF%E3%82%B9%E7%B5%8C%E6%B8%88%E5%AD%A6" title="マルクス経済学 – Japanese" lang="ja" hreflang="ja" data-title="マルクス経済学" data-language-autonym="日本語" data-language-local-name="Japanese" class="interlanguage-link-target"><span>日本語</span></a></li><li class="interlanguage-link interwiki-pa mw-list-item"><a href="https://pa.wikipedia.org/wiki/%E0%A8%AE%E0%A8%BE%E0%A8%B0%E0%A8%95%E0%A8%B8%E0%A9%80_%E0%A8%85%E0%A8%B0%E0%A8%A5%E0%A8%B8%E0%A8%BC%E0%A8%BE%E0%A8%B8%E0%A8%A4%E0%A8%B0" title="ਮਾਰਕਸੀ ਅਰਥਸ਼ਾਸਤਰ – Punjabi" lang="pa" hreflang="pa" data-title="ਮਾਰਕਸੀ ਅਰਥਸ਼ਾਸਤਰ" data-language-autonym="ਪੰਜਾਬੀ" data-language-local-name="Punjabi" class="interlanguage-link-target"><span>ਪੰਜਾਬੀ</span></a></li><li class="interlanguage-link interwiki-pl mw-list-item"><a href="https://pl.wikipedia.org/wiki/Ekonomia_marksistowska" title="Ekonomia marksistowska – Polish" lang="pl" hreflang="pl" data-title="Ekonomia marksistowska" data-language-autonym="Polski" data-language-local-name="Polish" class="interlanguage-link-target"><span>Polski</span></a></li><li class="interlanguage-link interwiki-pt mw-list-item"><a href="https://pt.wikipedia.org/wiki/Economia_marxiana" title="Economia marxiana – Portuguese" lang="pt" hreflang="pt" data-title="Economia marxiana" data-language-autonym="Português" data-language-local-name="Portuguese" class="interlanguage-link-target"><span>Português</span></a></li><li class="interlanguage-link interwiki-ru mw-list-item"><a href="https://ru.wikipedia.org/wiki/%D0%9C%D0%B0%D1%80%D0%BA%D1%81%D0%B8%D1%81%D1%82%D1%81%D0%BA%D0%B0%D1%8F_%D0%BF%D0%BE%D0%BB%D0%B8%D1%82%D0%B8%D1%87%D0%B5%D1%81%D0%BA%D0%B0%D1%8F_%D1%8D%D0%BA%D0%BE%D0%BD%D0%BE%D0%BC%D0%B8%D1%8F" title="Марксистская политическая экономия – Russian" lang="ru" hreflang="ru" data-title="Марксистская политическая экономия" data-language-autonym="Русский" data-language-local-name="Russian" class="interlanguage-link-target"><span>Русский</span></a></li><li class="interlanguage-link interwiki-simple mw-list-item"><a href="https://simple.wikipedia.org/wiki/Marxist_economics" title="Marxist economics – Simple English" lang="en-simple" hreflang="en-simple" data-title="Marxist economics" data-language-autonym="Simple English" data-language-local-name="Simple English" class="interlanguage-link-target"><span>Simple English</span></a></li><li class="interlanguage-link interwiki-sk mw-list-item"><a href="https://sk.wikipedia.org/wiki/Marxistick%C3%A1_ekon%C3%B3mia" title="Marxistická ekonómia – Slovak" lang="sk" hreflang="sk" data-title="Marxistická ekonómia" data-language-autonym="Slovenčina" data-language-local-name="Slovak" class="interlanguage-link-target"><span>Slovenčina</span></a></li><li class="interlanguage-link interwiki-sl mw-list-item"><a href="https://sl.wikipedia.org/wiki/Marksisti%C4%8Dna_politi%C4%8Dna_ekonomija" title="Marksistična politična ekonomija – Slovenian" lang="sl" hreflang="sl" data-title="Marksistična politična ekonomija" data-language-autonym="Slovenščina" data-language-local-name="Slovenian" class="interlanguage-link-target"><span>Slovenščina</span></a></li><li class="interlanguage-link interwiki-sr mw-list-item"><a href="https://sr.wikipedia.org/wiki/%D0%9C%D0%B0%D1%80%D0%BA%D1%81%D0%B8%D1%81%D1%82%D0%B8%D1%87%D0%BA%D0%B0_%D0%B5%D0%BA%D0%BE%D0%BD%D0%BE%D0%BC%D0%B8%D1%98%D0%B0" title="Марксистичка економија – Serbian" lang="sr" hreflang="sr" data-title="Марксистичка економија" data-language-autonym="Српски / srpski" data-language-local-name="Serbian" class="interlanguage-link-target"><span>Српски / srpski</span></a></li><li class="interlanguage-link interwiki-fi mw-list-item"><a href="https://fi.wikipedia.org/wiki/Marxilainen_taloustiede" title="Marxilainen taloustiede – Finnish" lang="fi" hreflang="fi" data-title="Marxilainen taloustiede" data-language-autonym="Suomi" data-language-local-name="Finnish" class="interlanguage-link-target"><span>Suomi</span></a></li><li class="interlanguage-link interwiki-sv mw-list-item"><a href="https://sv.wikipedia.org/wiki/Marxistisk_ekonomi" title="Marxistisk ekonomi – Swedish" lang="sv" hreflang="sv" data-title="Marxistisk ekonomi" 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href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><table class="sidebar sidebar-collapse nomobile nowraplinks" style="border-spacing:0.2em 0;"><tbody><tr><td class="sidebar-pretitle" style="padding-bottom:0.1em;">Part of <a href="/wiki/Category:Marxian_economics" title="Category:Marxian economics">a series</a> on</td></tr><tr><th class="sidebar-title-with-pretitle" style="background:#B60202;padding-bottom:0;font-size:175%;font-weight:normal;color:white;"><a class="mw-selflink selflink"><span class="tmp-color" style="color:white">Marxian economics</span></a></th></tr><tr><td class="sidebar-image" style="padding:0.5em 0 1.0em;"><span typeof="mw:File"><a href="/wiki/Karl_Marx" title="Karl Marx"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/d/d4/Karl_Marx_001.jpg/110px-Karl_Marx_001.jpg" decoding="async" width="110" height="158" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/d/d4/Karl_Marx_001.jpg/165px-Karl_Marx_001.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/d/d4/Karl_Marx_001.jpg/220px-Karl_Marx_001.jpg 2x" data-file-width="1428" data-file-height="2048" /></a></span></td></tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background:transparent;border-top:1px solid #aaa;text-align:center;;color: var(--color-base)">Concepts</div><div class="sidebar-list-content mw-collapsible-content" style="padding-top:0;"><div class="hlist"> <ul><li><a href="/wiki/Capital_(economics)" title="Capital (economics)">Capital</a> (<a href="/wiki/Capitalism#Capital_accumulation" title="Capitalism">accumulation</a>)</li> <li><a href="/wiki/Capitalist_mode_of_production_(Marxist_theory)" title="Capitalist mode of production (Marxist theory)">Capitalist mode of production</a></li> <li><a href="/wiki/Class_in_Marxist_theory" class="mw-redirect" title="Class in Marxist theory">Class process</a></li> <li><a href="/wiki/Commodity_(Marxism)" title="Commodity (Marxism)">Commodity</a></li> <li><a href="/wiki/Abstract_labour_and_concrete_labour" title="Abstract labour and concrete labour">Concrete and abstract labuor</a></li> <li><a href="/wiki/Constant_capital" class="mw-redirect" title="Constant capital">Constant capital</a></li> <li><a href="/wiki/Critique_of_political_economy" title="Critique of political economy">Critique of political economy</a></li> <li><a href="/wiki/Exchange_value" title="Exchange value">Exchange value</a></li> <li><a href="/wiki/Exploitation_of_labour" title="Exploitation of labour">Exploitation</a></li> <li><a href="/wiki/Labour_power" title="Labour power">Labour power</a></li> <li><a href="/wiki/Labor_theory_of_value" title="Labor theory of value">Labour theory of value</a></li> <li><a href="/wiki/Law_of_accumulation" class="mw-redirect" title="Law of accumulation">Law of accumulation</a></li> <li><a href="/wiki/Law_of_value" title="Law of value">Law of value</a></li> <li><a href="/wiki/Means_of_production" title="Means of production">Means of production</a></li> <li><a href="/wiki/Mode_of_production" title="Mode of production">Mode of production</a></li> <li><a href="/wiki/State_monopoly_capitalism" title="State monopoly capitalism">Monopoly capitalism</a></li> <li><a href="/wiki/Organic_composition_of_capital" title="Organic composition of capital">Organic composition of capital</a></li> <li><a href="/wiki/Productive_forces" title="Productive forces">Productive forces</a></li> <li><a href="/wiki/Profit_(economics)" title="Profit (economics)">Profit</a></li> <li><a href="/wiki/Prices_of_production" title="Prices of production">Prices of production</a></li> <li><a href="/wiki/Primitive_accumulation_of_capital" title="Primitive accumulation of capital">Primitive accumulation</a></li> <li><a href="/wiki/Rate_of_exploitation" title="Rate of exploitation">Rate of exploitation</a></li> <li><a href="/wiki/Rate_of_profit" title="Rate of profit">Rate of profit</a></li> <li><a href="/wiki/Real_prices_and_ideal_prices" title="Real prices and ideal prices">Real prices and ideal prices</a></li> <li><a href="/wiki/Relations_of_production" title="Relations of production">Relations of production</a></li> <li><a href="/wiki/Reproduction_(economics)" title="Reproduction (economics)">Reproduction</a></li> <li><a href="/wiki/Reserve_army_of_labour" title="Reserve army of labour">Reserve army of labour</a></li> <li><a href="/wiki/Socially_necessary_labour_time" title="Socially necessary labour time">Socially necessary labour time</a></li> <li><a href="/wiki/Socialism_(Marxism)" class="mw-redirect" title="Socialism (Marxism)">Socialist mode of production</a></li> <li><a href="/wiki/Socialization_(Marxism)" title="Socialization (Marxism)">Socialization</a></li> <li><a href="/wiki/Simple_commodity_production" title="Simple commodity production">Simple commodity production</a></li> <li><a href="/wiki/Surplus_value" title="Surplus value">Surplus value</a></li> <li><a href="/wiki/Surplus_labour" title="Surplus labour">Surplus labour</a></li> <li><a href="/wiki/Surplus_product" title="Surplus product">Surplus product</a></li> <li><a href="/wiki/Use_value" title="Use value">Use value</a></li> <li><a href="/wiki/Wage_labour" title="Wage labour">Wage labour</a></li> <li><a href="/wiki/Wage_slavery" title="Wage slavery">Wage slavery</a></li> <li><a href="/wiki/Value-form" title="Value-form">Value-form</a></li> <li><a href="/wiki/Value_product" title="Value product">Value product</a></li> <li><a href="/wiki/Variable_capital" class="mw-redirect" title="Variable capital">Variable capital</a></li></ul> </div></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background:transparent;border-top:1px solid #aaa;text-align:center;;color: var(--color-base)">Topics</div><div class="sidebar-list-content mw-collapsible-content" style="padding-top:0;"><div class="hlist"> <ul><li><a href="/wiki/Capital_controversy" class="mw-redirect" title="Capital controversy">Capital controversy</a></li> <li><a href="/wiki/Crisis_theory" title="Crisis theory">Crisis theory</a></li> <li><a href="/wiki/Economic_determinism" title="Economic determinism">Economic determinism</a></li> <li><a href="/wiki/Immiseration_thesis" title="Immiseration thesis">Immiseration thesis</a></li> <li><a href="/wiki/Theory_of_imperialism" class="mw-redirect" title="Theory of imperialism">Imperialism</a></li> <li><a href="/wiki/Historical_materialism" title="Historical materialism">Historical materialism</a></li> <li><a href="/wiki/Okishio%27s_theorem" title="Okishio's theorem">Okishio's theorem</a></li> <li><a href="/wiki/Overaccumulation" title="Overaccumulation">Overaccumulation</a></li> <li><a href="/wiki/Overdetermination" title="Overdetermination">Overdetermination</a></li> <li><a href="/wiki/Overproduction" title="Overproduction">Overproduction</a></li> <li><a href="/wiki/Kondratiev_wave" title="Kondratiev wave">Kondratiev wave</a></li> <li><a href="/wiki/Technological_determinism" title="Technological determinism">Technological determinism</a></li> <li><a href="/wiki/Technological_unemployment" title="Technological unemployment">Technological unemployment</a></li> <li><div style="display:inline-block; padding:0.2em 0.4em; line-height:1.2em;"><a href="/wiki/Temporal_single-system_interpretation" title="Temporal single-system interpretation">Temporal single-system<br />interpretation</a></div></li> <li><a href="/wiki/Tendency_of_the_rate_of_profit_to_fall" title="Tendency of the rate of profit to fall">Falling profit-rate tendency</a></li> <li><a href="/wiki/Transformation_problem" title="Transformation problem">Transformation problem</a></li> <li><a href="/wiki/Underconsumption" title="Underconsumption">Underconsumption</a></li> <li><a href="/wiki/Value_(economics)" title="Value (economics)">Value</a></li></ul> </div></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background:transparent;border-top:1px solid #aaa;text-align:center;;color: var(--color-base)">Variants</div><div class="sidebar-list-content mw-collapsible-content" style="padding-top:0;"><div class="plainlist"> <ul><li><a href="/wiki/Analytical_Marxism" title="Analytical Marxism">Analytical Marxism</a></li> <li><a href="/wiki/Classical_Marxism" title="Classical Marxism">Classical Marxism</a></li> <li><a href="/wiki/Orthodox_Marxism" title="Orthodox Marxism">Orthodox Marxism</a></li> <li><a href="/wiki/Neo-Marxian_economics" class="mw-redirect" title="Neo-Marxian economics">Neo-Marxian economics</a></li></ul> </div></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background:transparent;border-top:1px solid #aaa;text-align:center;;color: var(--color-base)">Works</div><div class="sidebar-list-content mw-collapsible-content" style="padding-top:0;;font-style:italic;"><div class="plainlist"> <ul><li><div style="display:inline-block; padding:0.2em 0.4em; line-height:1.2em;"><a href="/wiki/A_Contribution_to_the_Critique_of_Political_Economy" title="A Contribution to the Critique of Political Economy">A Contribution to the<br />Critique of Political Economy</a></div></li> <li><a href="/wiki/Das_Kapital" title="Das Kapital">Das Kapital</a></li> <li><a href="/wiki/Grundrisse" title="Grundrisse">Grundrisse</a></li> <li><div style="display:inline-block; padding:0.2em 0.4em; line-height:1.2em;"><a href="/wiki/Economic_and_Philosophical_Manuscripts_of_1844" class="mw-redirect" title="Economic and Philosophical Manuscripts of 1844">Economic and Philosophical<br />Manuscripts of 1844</a></div></li> <li><a href="/wiki/The_Accumulation_of_Capital" title="The Accumulation of Capital">The Accumulation of Capital</a></li> <li><a href="/wiki/Monopoly_Capital" title="Monopoly Capital">Monopoly Capital</a></li> <li><div style="display:inline-block; padding:0.2em 0.4em; line-height:1.2em;"><a href="/wiki/The_Theory_of_Capitalist_Development" title="The Theory of Capitalist Development">The Theory of<br />Capitalist Development</a></div></li> <li><a href="/wiki/Rudolf_Hilferding#Finance_Capital" title="Rudolf Hilferding">Finance Capital</a></li></ul> </div></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background:transparent;border-top:1px solid #aaa;text-align:center;;color: var(--color-base)"><a href="/wiki/List_of_Marxian_economists" title="List of Marxian economists">People</a></div><div class="sidebar-list-content mw-collapsible-content" style="padding-top:0;"><div class="hlist"> <ul><li><a href="/wiki/Karl_Marx" title="Karl Marx">Karl Marx</a></li> <li><a href="/wiki/Friedrich_Engels" title="Friedrich Engels">Friedrich Engels</a></li> <li><a href="/wiki/Vladimir_Lenin" title="Vladimir Lenin">Vladimir Lenin</a></li> <li><a href="/wiki/Rosa_Luxemburg" title="Rosa Luxemburg">Rosa Luxemburg</a></li> <li><a href="/wiki/Rudolf_Hilferding" title="Rudolf Hilferding">Rudolf Hilferding</a></li> <li><a href="/wiki/Leon_Trotsky" title="Leon Trotsky">Leon Trotsky</a></li> <li><a href="/wiki/Karl_Kautsky" title="Karl Kautsky">Karl Kautsky</a></li> <li><a href="/wiki/Ernest_Mandel" title="Ernest Mandel">Ernest Mandel</a></li> <li><a href="/wiki/Antonie_Pannekoek" class="mw-redirect" title="Antonie Pannekoek">Antonie Pannekoek</a></li> <li><a href="/wiki/J%C3%A1nos_Kornai" title="János Kornai">János Kornai</a></li> <li><a href="/wiki/Andrew_Kliman" title="Andrew Kliman">Andrew Kliman</a></li> <li><a href="/wiki/Richard_D._Wolff" title="Richard D. Wolff">Richard D. Wolff</a></li> <li><a href="/wiki/Nikolai_Kondratiev" title="Nikolai Kondratiev">Nikolai Kondratiev</a></li> <li><a href="/wiki/Paul_Sweezy" title="Paul Sweezy">Paul Sweezy</a></li> <li><a href="/wiki/Nobuo_Okishio" title="Nobuo Okishio">Nobuo Okishio</a></li> <li><a href="/wiki/Ian_Steedman" title="Ian Steedman">Ian Steedman</a></li> <li><a href="/wiki/John_Roemer" title="John Roemer">John Roemer</a></li> <li><a href="/wiki/David_Laibman" title="David Laibman">David Laibman</a></li> <li><a href="/wiki/Paul_A._Baran" title="Paul A. Baran">Paul A. Baran</a></li> <li><a href="/wiki/Stephen_Resnick" title="Stephen Resnick">Stephen Resnick</a></li> <li><a href="/wiki/Micha%C5%82_Kalecki" title="Michał Kalecki">Michał Kalecki</a></li></ul> </div></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background:transparent;border-top:1px solid #aaa;text-align:center;;color: var(--color-base)">Journals</div><div class="sidebar-list-content mw-collapsible-content" style="padding-top:0;;font-style:italic;"><div class="plainlist"> <ul><li><div style="display:inline-block; padding:0.2em 0.4em; line-height:1.2em;"><a href="/wiki/Cambridge_Journal_of_Economics" title="Cambridge Journal of Economics">Cambridge Journal of<br />Economics</a></div></li> <li><div style="display:inline-block; padding:0.2em 0.4em; line-height:1.2em;"><a href="/wiki/International_Journal_of_Political_Economy" title="International Journal of Political Economy">International Journal of<br />Political Economy</a></div></li> <li><a href="/wiki/Monthly_Review" title="Monthly Review">Monthly Review</a></li> <li><a href="/wiki/The_New_School#Academic_journals" title="The New School">New School Economic Review</a></li> <li><a href="/wiki/Real-World_Economics_Review" title="Real-World Economics Review">Real-World Economics Review</a></li> <li><a href="/wiki/Rethinking_Marxism" title="Rethinking Marxism">Rethinking Marxism</a></li> <li><a href="/wiki/Science_and_Society" class="mw-redirect" title="Science and Society">Science and Society</a></li></ul> </div></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background:transparent;border-top:1px solid #aaa;text-align:center;;color: var(--color-base)">Related topics</div><div class="sidebar-list-content mw-collapsible-content" style="padding-top:0;"><div class="plainlist"> <ul><li><a href="/wiki/Evolutionary_economics" title="Evolutionary economics">Evolutionary economics</a></li> <li><a href="/wiki/Classical_economics" title="Classical economics">Classical economics</a></li> <li><a href="/wiki/Marxism" title="Marxism">Marxism</a></li> <li><a href="/wiki/Marxist_sociology" title="Marxist sociology">Marxist sociology</a></li> <li><a href="/wiki/Neoclassical_economics" title="Neoclassical economics">Neoclassical economics</a></li> <li><a href="/wiki/Perspectives_on_capitalism" class="mw-redirect" title="Perspectives on capitalism">Perspectives on capitalism</a></li> <li><a href="/wiki/Political_economy" title="Political economy">Political economy</a></li> <li><a href="/wiki/Schools_of_economic_thought" title="Schools of economic thought">Schools of economic thought</a></li> <li><a href="/wiki/Socialist_economics" title="Socialist economics">Socialist economics</a></li> <li><a href="/wiki/Socialist_critique_of_capitalism" class="mw-redirect" title="Socialist critique of capitalism">Critiques of 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href="/wiki/Theses_on_the_Philosophy_of_History" title="Theses on the Philosophy of History">Theses on the Philosophy of History</a></li> <li><a href="/wiki/Dialectic_of_Enlightenment" title="Dialectic of Enlightenment">Dialectic of Enlightenment</a></li> <li><a href="/wiki/A_Critique_of_Soviet_Economics" title="A Critique of Soviet Economics">A Critique of Soviet Economics</a></li> <li><a href="/wiki/The_Long_Revolution" title="The Long Revolution">The Long Revolution</a></li> <li><a href="/wiki/Guerrilla_Warfare_(book)" class="mw-redirect" title="Guerrilla Warfare (book)">Guerrilla Warfare</a></li> <li><a href="/wiki/The_Wretched_of_the_Earth" title="The Wretched of the Earth">The Wretched of the Earth</a></li> <li><a href="/wiki/Reading_Capital" title="Reading Capital">Reading Capital</a></li> <li><a href="/wiki/The_Society_of_the_Spectacle" title="The Society of the Spectacle">The Society of the Spectacle</a></li> <li><a href="/wiki/Pedagogy_of_the_Oppressed" title="Pedagogy of the 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and Socialist Strategy</a></li> <li><a href="/wiki/The_Sublime_Object_of_Ideology" title="The Sublime Object of Ideology">The Sublime Object of Ideology</a></li> <li><a href="/wiki/Time,_Labor_and_Social_Domination" title="Time, Labor and Social Domination">Time, Labor and Social Domination</a></li> <li><a href="/wiki/The_Age_of_Extremes" title="The Age of Extremes">The Age of Extremes</a></li> <li><a href="/wiki/The_Origin_of_Capitalism" title="The Origin of Capitalism">The Origin of Capitalism</a></li> <li><a href="/wiki/Empire_(Hardt_and_Negri_book)" title="Empire (Hardt and Negri book)">Empire</a></li> <li><a href="/wiki/Late_Victorian_Holocausts" title="Late Victorian Holocausts">Late Victorian Holocausts</a></li> <li><a href="/wiki/Change_the_World_Without_Taking_Power" title="Change the World Without Taking Power">Change the World Without Taking Power</a></li> <li><a href="/wiki/Caliban_and_the_Witch" title="Caliban and the Witch">Caliban and the Witch</a></li> <li><a href="/wiki/An_Introduction_to_the_Three_Volumes_of_Karl_Marx%27s_Capital" title="An Introduction to the Three Volumes of Karl Marx's Capital">An Introduction to the Three Volumes of Karl Marx's Capital</a></li> <li><a href="/wiki/Capitalist_Realism" title="Capitalist Realism">Capitalist Realism</a></li> <li><a href="/wiki/Capital_in_the_Anthropocene" title="Capital in the Anthropocene">Capital in the Anthropocene</a></li> <li><a href="/wiki/Towards_Socialism_or_Capitalism%3F" title="Towards Socialism or Capitalism?">Towards Socialism or Capitalism?</a></li> <li><a href="/wiki/The_Revolution_Betrayed" title="The Revolution Betrayed">The Revolution Betrayed</a></li> <li><a href="/wiki/Literature_and_Revolution" title="Literature and Revolution">Literature and Revolution</a></li> <li><a href="/wiki/The_Struggle_Against_Fascism_in_Germany" title="The Struggle Against Fascism in Germany">The Struggle Against Fascism in Germany</a></li> <li><a href="/wiki/Their_Morals_and_Ours:_The_class_foundations_of_moral_practice" title="Their Morals and Ours: The class foundations of moral practice">Their Morals and Ours: The class foundations of moral practice</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed hlist"><div class="sidebar-list-title" style="background:transparent;border-top:1px solid #aaa;;color: var(--color-base)"><a href="/wiki/Marxist_philosophy" title="Marxist philosophy">Philosophy</a></div><div class="sidebar-list-content mw-collapsible-content"> <ul><li><a href="/wiki/Marx%27s_theory_of_alienation" title="Marx's theory of alienation">Alienation</a></li> <li><a href="/wiki/Dialectical_materialism" title="Dialectical materialism">Dialectical materialism</a></li> <li><a href="/wiki/Ideology#Marxist_interpretation" title="Ideology">Ideology</a></li> <li><a href="/wiki/Marxist_philosophy_of_nature" class="mw-redirect" title="Marxist philosophy of nature">Philosophy of nature</a></li> <li><a href="/wiki/Philosophy_in_the_Soviet_Union" title="Philosophy in the Soviet Union">Philosophy in the Soviet Union</a></li> <li><a href="/wiki/Reification_(Marxism)" title="Reification (Marxism)">Reification</a></li> <li><a href="/wiki/Marxist_ethics" title="Marxist ethics">Marxist ethics</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed hlist"><div class="sidebar-list-title" style="background:transparent;border-top:1px solid #aaa;;color: var(--color-base)"><a href="/wiki/Critique_of_political_economy" title="Critique of political economy">Critique of political economy</a></div><div class="sidebar-list-content mw-collapsible-content"> <ul><li><a href="/wiki/Capital_(Marxism)" title="Capital (Marxism)">Capital</a> (<a href="/wiki/Capital_accumulation" title="Capital accumulation">accumulation</a>)</li> <li><a href="/wiki/Crisis_theory" title="Crisis theory">Crisis theory</a></li> <li><a href="/wiki/Commodity_(Marxism)" title="Commodity (Marxism)">Commodity</a></li> <li><a href="/wiki/Abstract_labour_and_concrete_labour" title="Abstract labour and concrete labour">Concrete and abstract labor</a></li> <li><a href="/wiki/Factors_of_production#Marxism" title="Factors of production">Factors of production</a></li> <li><a href="/wiki/Tendency_of_the_rate_of_profit_to_fall" title="Tendency of the rate of profit to fall">Falling profit-rate tendency</a></li> <li><a href="/wiki/Means_of_production" title="Means of production">Means of production</a></li> <li><a href="/wiki/Mode_of_production" title="Mode of production">Mode of production</a> <ul><li><a href="/wiki/Capitalist_mode_of_production_(Marxist_theory)" title="Capitalist mode of production (Marxist theory)">Capitalist</a></li> <li><a href="/wiki/Socialist_mode_of_production" title="Socialist mode of production">Socialist</a></li></ul></li> <li><a href="/wiki/Productive_forces" title="Productive forces">Productive forces</a></li> <li><a href="/wiki/Scientific_socialism" title="Scientific socialism">Scientific socialism</a></li> <li><a href="/wiki/Surplus_product" title="Surplus product">Surplus product</a></li> <li><a href="/wiki/Socially_necessary_labour_time" title="Socially necessary labour time">Socially necessary labour time</a></li> <li><a href="/wiki/Value-form" title="Value-form">Value-form</a></li> <li><a href="/wiki/Wage_labour" title="Wage labour">Wage labour</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed hlist"><div class="sidebar-list-title" style="background:transparent;border-top:1px solid #aaa;;color: var(--color-base)"><a href="/wiki/Marxist_sociology" title="Marxist sociology">Sociology</a></div><div class="sidebar-list-content mw-collapsible-content"> <ul><li><a href="/wiki/Base_and_superstructure" title="Base and superstructure">Base and superstructure</a></li> <li><a href="/wiki/Bourgeoisie#Marxist_theory" title="Bourgeoisie">Bourgeoisie</a></li> <li><a href="/wiki/Marxian_class_theory" title="Marxian class theory">Class</a></li> <li><a href="/wiki/Class_consciousness" title="Class consciousness">Class consciousness</a></li> <li><a href="/wiki/Classless_society" title="Classless society">Classless society</a></li> <li><a href="/wiki/Commodity_fetishism" title="Commodity fetishism">Commodity fetishism</a></li> <li><a href="/wiki/Communist_society" title="Communist society">Communist society</a></li> <li><a href="/wiki/Critical_theory" title="Critical theory">Critical theory</a></li> <li><a href="/wiki/Cultural_hegemony" title="Cultural hegemony">Cultural hegemony</a></li> <li><a href="/wiki/Democracy_in_Marxism" title="Democracy in Marxism">Democracy</a> <ul><li><a href="/wiki/Dictatorship_of_the_proletariat" title="Dictatorship of the proletariat">Dictatorship of the proletariat</a></li> <li><a href="/wiki/Soviet_democracy" title="Soviet democracy">Soviet</a></li> <li><a href="/wiki/Radical_democracy" title="Radical democracy">Radical</a></li> <li><a href="/wiki/Democratic_centralism" title="Democratic centralism">Democratic centralism</a></li></ul></li> <li><a href="/wiki/Exploitation_of_labour#Marxist_theory" title="Exploitation of labour">Exploitation</a></li> <li><a href="/wiki/False_consciousness" title="False consciousness">False consciousness</a></li> <li><a href="/wiki/Marx%27s_theory_of_human_nature" title="Marx's theory of human nature">Human nature</a></li> <li><a href="/wiki/Immiseration_thesis" title="Immiseration thesis">Immiseration</a></li> <li><a href="/wiki/Theory_of_imperialism#Marx" class="mw-redirect" title="Theory of imperialism">Imperialism</a></li> <li><a href="/wiki/Lumpenproletariat" title="Lumpenproletariat">Lumpenproletariat</a></li> <li><a href="/wiki/Metabolic_rift" title="Metabolic rift">Metabolic rift</a></li> <li><a href="/wiki/Proletariat" title="Proletariat">Proletariat</a></li> <li><a href="/wiki/Private_property" title="Private property">Private property</a></li> <li><a href="/wiki/Relations_of_production" title="Relations of production">Relations of production</a></li> <li><a href="/wiki/Marx%27s_theory_of_the_state" title="Marx's theory of the state">State theory</a></li> <li><a href="/wiki/Working_class" title="Working class">Working class</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed plainlist"><div class="sidebar-list-title" style="background:transparent;border-top:1px solid #aaa;;color: var(--color-base)"><a href="/wiki/Historical_materialism" title="Historical materialism">History</a></div><div class="sidebar-list-content mw-collapsible-content"> <ul><li><a href="/wiki/Class_conflict" title="Class conflict">Class struggle</a></li> <li><a href="/wiki/Historical_determinism" title="Historical determinism">Historical determinism</a></li> <li><a href="/wiki/Primitive_accumulation_of_capital" title="Primitive accumulation of capital">Primitive accumulation</a></li> <li><a href="/wiki/Proletarian_revolution" title="Proletarian revolution">Proletarian revolution</a></li> <li><a href="/wiki/World_revolution" title="World revolution">World revolution</a></li> <li><a href="/wiki/Theory_of_historical_trajectory" title="Theory of historical trajectory">Theory of historical trajectory</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed hlist"><div class="sidebar-list-title" style="background:transparent;border-top:1px solid #aaa;;color: var(--color-base)">Aspects</div><div class="sidebar-list-content mw-collapsible-content"> <ul><li><a href="/wiki/Marxist_aesthetics" title="Marxist aesthetics">Aesthetics</a></li> <li><a href="/wiki/Marxist_archaeology" title="Marxist archaeology">Archaeology</a></li> <li><a href="/wiki/Marxist_criminology" title="Marxist criminology">Criminology</a></li> <li><a href="/wiki/Marxist_cultural_analysis" title="Marxist cultural analysis">Cultural analysis</a></li> <li><a href="/wiki/Cultural_studies" title="Cultural studies">Cultural Studies</a></li> <li><a href="/wiki/Marxist_ethics" title="Marxist ethics">Ethics</a></li> <li><a href="/wiki/Marxist_film_theory" title="Marxist film theory">Film theory</a></li> <li><a href="/wiki/Marxist_geography" title="Marxist geography">Geography</a></li> <li><a href="/wiki/Marxist_historiography" title="Marxist historiography">Historiography</a></li> <li><a href="/wiki/Marxist_literary_criticism" title="Marxist literary criticism">Literary criticism</a></li> <li><a href="/wiki/Marxism_and_religion" title="Marxism and religion">Marxism and religion</a></li> <li><a href="/wiki/Marxist_sociology" title="Marxist sociology">Sociology</a></li> <li><a href="/wiki/Marxist_philosophy" title="Marxist philosophy">Philosophy</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background:transparent;border-top:1px solid #aaa;;color: var(--color-base)">Common variants</div><div class="sidebar-list-content mw-collapsible-content"><table class="sidebar nomobile nowraplinks" style="background-color: transparent; color: var( --color-base ); border-collapse:collapse; border-spacing:0px; border:none; width:100%; margin:0px; font-size:100%; clear:none; float:none"><tbody><tr><th class="sidebar-heading" style="padding-top:0.2em;font-style:italic;font-weight:normal;border-bottom:1px solid #ccc;"> <a href="/wiki/Structural_Marxism" title="Structural Marxism">Structural</a></th></tr><tr><td class="sidebar-content plainlist hlist" style="padding-top:0.15em;"> <ul><li><a href="/wiki/Autonomism" title="Autonomism">Autonomist</a></li> <li><a href="/wiki/Marxism%E2%80%93Leninism" title="Marxism–Leninism">Marxism–Leninism</a> <ul><li><a href="/wiki/Guevarism" title="Guevarism">Guevarism</a></li> <li><a href="/wiki/Maoism" title="Maoism">Maoism</a></li> <li><a href="/wiki/Titoism" title="Titoism">Titoism</a></li> <li><a href="/wiki/Trotskyism" title="Trotskyism">Trotskyism</a></li></ul></li> <li><a href="/wiki/Neo-Gramscianism" title="Neo-Gramscianism">Neo-Gramscianism</a></li> <li><a href="/wiki/Regulation_school" title="Regulation school">Regulation school</a></li> <li><a href="/wiki/Maoism%E2%80%93Third_Worldism" title="Maoism–Third Worldism">Third-worldist</a></li></ul></td> </tr><tr><th class="sidebar-heading" style="padding-top:0.2em;font-style:italic;font-weight:normal;border-bottom:1px solid #ccc;"> <a href="/wiki/History_and_Class_Consciousness#Summary" title="History and Class Consciousness">Hegelian</a></th></tr><tr><td class="sidebar-content plainlist hlist" style="padding-top:0.15em;"> <ul><li><a href="/wiki/Budapest_School" title="Budapest School">Budapest School</a></li> <li><a href="/wiki/Frankfurt_School" title="Frankfurt School">Frankfurt School</a></li> <li><a href="/wiki/Marxist_humanism" title="Marxist humanism">Humanist</a></li> <li><a href="/wiki/Neue_Marx-Lekt%C3%BCre" title="Neue Marx-Lektüre">Neue Marx-Lektüre</a></li> <li><a href="/wiki/Open_Marxism" title="Open Marxism">Open</a></li> <li><a href="/wiki/Political_Marxism" title="Political Marxism">Political</a></li> <li><a href="/wiki/Praxis_School" title="Praxis School">Praxis School</a></li></ul></td> </tr><tr><th class="sidebar-heading" style="padding-top:0.2em;font-style:italic;font-weight:normal;border-bottom:1px solid #ccc;"> Both</th></tr><tr><td class="sidebar-content plainlist hlist" style="padding-top:0.15em;"> <ul><li><a href="/wiki/Black_radical_tradition" title="Black radical tradition">Black</a></li> <li><a href="/wiki/Classical_Marxism" title="Classical Marxism">Classical</a></li> <li><a href="/wiki/Communization" title="Communization">Communization</a></li> <li><a href="/wiki/Marxist_feminism" title="Marxist feminism">Feminist</a></li> <li><a href="/wiki/Leninism" title="Leninism">Leninism</a></li> <li><a href="/wiki/Neo-Marxism" title="Neo-Marxism">Neo</a></li> <li><a href="/wiki/Post-Marxism" title="Post-Marxism">Post</a></li> <li><a href="/wiki/Western_Marxism" title="Western Marxism">Western</a></li></ul></td> </tr></tbody></table></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed hlist"><div class="sidebar-list-title" style="background:transparent;border-top:1px solid #aaa;;color: var(--color-base)"><a href="/wiki/Marxist_schools_of_thought" title="Marxist schools of thought">Other variants</a></div><div class="sidebar-list-content mw-collapsible-content"> <ul><li><a href="/wiki/Analytical_Marxism" title="Analytical Marxism">Analytical</a></li> <li><a href="/wiki/Austromarxism" title="Austromarxism">Austromarxism</a></li> <li><a href="/wiki/Centrist_Marxism" title="Centrist Marxism">Centrist</a></li> <li><a href="/wiki/Council_communism" title="Council communism">Council communism</a></li> <li><a href="/wiki/Eurocommunism" title="Eurocommunism">Eurocommunism</a></li> <li><a href="/wiki/Instrumental_Marxism" title="Instrumental Marxism">Instrumental</a></li> <li><a href="/wiki/Marxism%E2%80%93Leninism%E2%80%93Maoism" title="Marxism–Leninism–Maoism">Marxism–Leninism–Maoism</a></li> <li><a href="/wiki/Nkrumaism" title="Nkrumaism">Nkrumaism</a></li> <li><a href="/wiki/Orthodox_Marxism" title="Orthodox Marxism">Orthodox</a></li> <li><a href="/wiki/Revisionism_(Marxism)" title="Revisionism (Marxism)">Revisionist</a></li> <li><a href="/wiki/Situationist" class="mw-redirect" title="Situationist">Situationist</a></li> <li><a href="/wiki/Socialism_with_Chinese_characteristics" title="Socialism with Chinese characteristics">Socialism with Chinese characteristics</a></li> <li><a href="/wiki/Wertkritik" class="mw-redirect" title="Wertkritik">Wertkritik</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed hlist"><div class="sidebar-list-title" style="background:transparent;border-top:1px solid #aaa;;color: var(--color-base)"><a href="/wiki/List_of_contributors_to_Marxist_theory" title="List of contributors to Marxist theory">People</a></div><div class="sidebar-list-content mw-collapsible-content"> <ul><li><b><a href="/wiki/Karl_Marx" title="Karl Marx">Marx</a></b></li> <li><b><a href="/wiki/Friedrich_Engels" title="Friedrich Engels">Engels</a></b></li> <li><a href="/wiki/William_Morris" title="William Morris">Morris</a></li> <li><a href="/wiki/Paul_Lafargue" title="Paul Lafargue">Lafargue</a></li> <li><a href="/wiki/Isaak_Illich_Rubin" title="Isaak Illich Rubin">Rubin</a></li> <li><a href="/wiki/Karl_Kautsky" title="Karl Kautsky">Kautsky</a></li> <li><a href="/wiki/Georgi_Plekhanov" title="Georgi Plekhanov">Plekhanov</a></li> <li><a href="/wiki/W._E._B._Du_Bois" title="W. E. B. Du Bois">Du Bois</a></li> <li><a href="/wiki/James_Connolly" title="James Connolly">Connolly</a></li> <li><b><a href="/wiki/Vladimir_Lenin" title="Vladimir Lenin">Lenin</a></b></li> <li><a href="/wiki/Rosa_Luxemburg" title="Rosa Luxemburg">Luxemburg</a></li> <li><a href="/wiki/Karl_Liebknecht" title="Karl Liebknecht">Liebknecht</a></li> <li><a href="/wiki/Alexandra_Kollontai" title="Alexandra Kollontai">Kollontai</a></li> <li><a href="/wiki/Alexander_Bogdanov" title="Alexander Bogdanov">Bogdanov</a></li> <li><b><a href="/wiki/Joseph_Stalin" title="Joseph Stalin">Stalin</a></b></li> <li><a href="/wiki/Leon_Trotsky" title="Leon Trotsky">Trotsky</a></li> <li><a href="/wiki/Henryk_Grossman" title="Henryk Grossman">Grossman</a></li> <li><a href="/wiki/Grigory_Zinoviev" title="Grigory Zinoviev">Zinoviev</a></li> <li><a href="/wiki/Ernst_Bloch" title="Ernst Bloch">Bloch</a></li> <li><a href="/wiki/Gy%C3%B6rgy_Luk%C3%A1cs" title="György Lukács">Lukács</a></li> <li><a href="/wiki/Karl_Korsch" title="Karl Korsch">Korsch</a></li> <li><a href="/wiki/Nikolai_Bukharin" title="Nikolai Bukharin">Bukharin</a></li> <li><a href="/wiki/Ho_Chi_Minh" title="Ho Chi Minh">Ho</a></li> <li><a href="/wiki/Victor_Serge" title="Victor Serge">Serge</a></li> <li><a href="/wiki/Antonio_Gramsci" title="Antonio Gramsci">Gramsci</a></li> <li><a href="/wiki/Mirsaid_Sultan-Galiev" title="Mirsaid Sultan-Galiev">Galiev</a></li> <li><a href="/wiki/Evgeny_Pashukanis" title="Evgeny Pashukanis">Pashukanis</a></li> <li><a href="/wiki/Amadeo_Bordiga" title="Amadeo Bordiga">Bordiga</a></li> <li><a href="/wiki/Walter_Benjamin" title="Walter Benjamin">Benjamin</a></li> <li><b><a href="/wiki/Mao_Zedong" title="Mao Zedong">Mao</a></b></li> <li><a href="/wiki/Jyoti_Basu" title="Jyoti Basu">Basu</a></li> <li><a href="/wiki/Jos%C3%A9_Carlos_Mari%C3%A1tegui" title="José Carlos Mariátegui">Mariátegui</a></li> <li><a href="/wiki/Max_Horkheimer" title="Max Horkheimer">Horkheimer</a></li> <li><a href="/wiki/R._Palme_Dutt" title="R. Palme Dutt">Dutt</a></li> <li><a href="/wiki/Bertolt_Brecht" title="Bertolt Brecht">Brecht</a></li> <li><a href="/wiki/Herbert_Marcuse" title="Herbert Marcuse">Marcuse</a></li> <li><a href="/wiki/Micha%C5%82_Kalecki" title="Michał Kalecki">Kalecki</a></li> <li><a href="/wiki/Erich_Fromm" title="Erich Fromm">Fromm</a></li> <li><a href="/wiki/Oliver_Cox" title="Oliver Cox">Cox</a></li> <li><a href="/wiki/Henri_Lefebvre" title="Henri Lefebvre">Lefebvre</a></li> <li><a href="/wiki/C._L._R._James" title="C. L. R. James">James</a></li> <li><a href="/wiki/Theodor_W._Adorno" title="Theodor W. Adorno">Adorno</a></li> <li><a href="/wiki/George_Padmore" title="George Padmore">Padmore</a></li> <li><a href="/wiki/Jean-Paul_Sartre" title="Jean-Paul Sartre">Sartre</a></li> <li><a href="/wiki/Isaac_Deutscher" title="Isaac Deutscher">Deutscher</a></li> <li><a href="/wiki/Enver_Hoxha" title="Enver Hoxha">Hoxha</a></li> <li><a href="/wiki/Simone_de_Beauvoir" title="Simone de Beauvoir">Beauvoir</a></li> <li><a href="/wiki/Werner_Sombart" title="Werner Sombart">Sombart</a></li> <li><a href="/wiki/Kwame_Nkrumah" title="Kwame Nkrumah">Nkrumah</a></li> <li><a href="/wiki/Paul_Sweezy" title="Paul Sweezy">Sweezy</a></li> <li><a href="/wiki/Arghiri_Emmanuel" title="Arghiri Emmanuel">Emmanuel</a></li> <li><a href="/wiki/Christopher_Hill_(historian)" title="Christopher Hill (historian)">Hill</a></li> <li><a href="/wiki/Charles_Bettelheim" title="Charles Bettelheim">Bettelheim</a></li> <li><a href="/wiki/Hal_Draper" title="Hal Draper">Draper</a></li> <li><a href="/wiki/Claudia_Jones" title="Claudia Jones">Jones</a></li> <li><a href="/wiki/Eric_Hobsbawm" title="Eric Hobsbawm">Hobsbawm</a></li> <li><a href="/wiki/Louis_Althusser" title="Louis Althusser">Althusser</a></li> <li><a href="/wiki/William_H._Hinton" title="William H. Hinton">Hinton</a></li> <li><a href="/wiki/Raymond_Williams" title="Raymond Williams">Williams</a></li> <li><a href="/wiki/Paulo_Freire" title="Paulo Freire">Freire</a></li> <li><a href="/wiki/Ernest_Mandel" title="Ernest Mandel">Mandel</a></li> <li><a href="/wiki/Ambalavaner_Sivanandan" title="Ambalavaner Sivanandan">Sivanandan</a></li> <li><a href="/wiki/Ralph_Miliband" title="Ralph Miliband">Miliband</a></li> <li><a href="/wiki/Am%C3%ADlcar_Cabral" title="Amílcar Cabral">Cabral</a></li> <li><a href="/wiki/E._P._Thompson" title="E. P. Thompson">Thompson</a></li> <li><a href="/wiki/Zygmunt_Bauman" title="Zygmunt Bauman">Bauman</a></li> <li><a href="/wiki/Frantz_Fanon" title="Frantz Fanon">Fanon</a></li> <li><a href="/wiki/Karel_Kos%C3%ADk" title="Karel Kosík">Kosik</a></li> <li><a href="/wiki/John_Berger" title="John Berger">Berger</a></li> <li><a href="/wiki/Fidel_Castro" title="Fidel Castro">Castro</a></li> <li><a href="/wiki/Che_Guevara" title="Che Guevara">Guevara</a></li> <li><a href="/wiki/Marcel_Liebman" title="Marcel Liebman">Liebman</a></li> <li><a href="/wiki/Agnes_Heller" class="mw-redirect" title="Agnes Heller">Heller</a></li> <li><a href="/wiki/F%C3%A9lix_Guattari" title="Félix Guattari">Guattari</a></li> <li><a href="/wiki/Istv%C3%A1n_M%C3%A9sz%C3%A1ros_(philosopher)" title="István Mészáros (philosopher)">Mészáros</a></li> <li><a href="/wiki/James_O%27Connor_(academic)" title="James O'Connor (academic)">O'Connor</a></li> <li><a href="/wiki/Immanuel_Wallerstein" title="Immanuel Wallerstein">Wallerstein</a></li> <li><a href="/wiki/Maria_Mies" title="Maria Mies">Mies</a></li> <li><a href="/wiki/Mario_Tronti" title="Mario Tronti">Tronti</a></li> <li><a href="/wiki/Guy_Debord" title="Guy Debord">Debord</a></li> <li><a href="/wiki/Samir_Amin" title="Samir Amin">Amin</a></li> <li><a href="/wiki/Stuart_Hall_(cultural_theorist)" title="Stuart Hall (cultural theorist)">Hall</a></li> <li><a href="/wiki/Tom_Nairn" title="Tom Nairn">Nairn</a></li> <li><a href="/wiki/Michael_Parenti" title="Michael Parenti">Parenti</a></li> <li><a href="/wiki/Antonio_Negri" title="Antonio Negri">Negri</a></li> <li><a href="/wiki/Fredric_Jameson" title="Fredric Jameson">Jameson</a></li> <li><a href="/wiki/Abimael_Guzm%C3%A1n" title="Abimael Guzmán">Gonzalo</a></li> <li><a href="/wiki/Enrique_Dussel" title="Enrique Dussel">Dussel</a></li> <li><a href="/wiki/David_Harvey" title="David Harvey">Harvey</a></li> <li><a href="/wiki/Ernesto_Laclau" title="Ernesto Laclau">Laclau</a></li> <li><a href="/wiki/Rudolf_Bahro" title="Rudolf Bahro">Bahro</a></li> <li><a href="/wiki/Nicos_Poulantzas" title="Nicos Poulantzas">Poulantzas</a></li> <li><a href="/wiki/Gianni_Vattimo" title="Gianni Vattimo">Vattimo</a></li> <li><a href="/wiki/Alain_Badiou" title="Alain Badiou">Badiou</a></li> <li><a href="/wiki/Marta_Harnecker" title="Marta Harnecker">Harnecker</a></li> <li><a href="/wiki/Elmar_Altvater" title="Elmar Altvater">Altvater</a></li> <li><a href="/wiki/Perry_Anderson" title="Perry Anderson">Anderson</a></li> <li><a href="/wiki/Michael_L%C3%B6wy" title="Michael Löwy">Löwy</a></li> <li><a href="/wiki/Lise_Vogel" title="Lise Vogel">Vogel</a></li> <li><a href="/wiki/Jose_Maria_Sison" title="Jose Maria Sison">Sison</a></li> <li><a href="/wiki/Antony_Easthope" title="Antony Easthope">Easthope</a></li> <li><a href="/wiki/Jacques_Ranci%C3%A8re" title="Jacques Rancière">Rancière</a></li> <li><a href="/wiki/Marshall_Berman" title="Marshall Berman">Berman</a></li> <li><a href="/wiki/Adam_Przeworski" title="Adam Przeworski">Przeworski</a></li> <li><a href="/wiki/G._A._Cohen" title="G. A. Cohen">Cohen</a></li> <li><a href="/wiki/G%C3%B6ran_Therborn" title="Göran Therborn">Therborn</a></li> <li><a href="/wiki/Domenico_Losurdo" title="Domenico Losurdo">Losurdo</a></li> <li><a href="/wiki/Stokely_Carmichael" title="Stokely Carmichael">Ture</a></li> <li><a href="/wiki/Moishe_Postone" title="Moishe Postone">Postone</a></li> <li><a href="/wiki/Walter_Rodney" title="Walter Rodney">Rodney</a></li> <li><a href="/wiki/Himani_Bannerji" title="Himani Bannerji">Bannerji</a></li> <li><a href="/wiki/Gayatri_Chakravorty_Spivak" title="Gayatri Chakravorty Spivak">Spivak</a></li> <li><a href="/wiki/Huey_P._Newton" title="Huey P. Newton">Newton</a></li> <li><a href="/wiki/Settlers:_The_Mythology_of_the_White_Proletariat" title="Settlers: The Mythology of the White Proletariat">Sakai</a></li> <li><a href="/wiki/Ellen_Meiksins_Wood" title="Ellen Meiksins Wood">Wood</a></li> <li><a href="/wiki/Silvia_Federici" title="Silvia Federici">Federici</a></li> <li><a href="/wiki/Richard_D._Wolff" title="Richard D. Wolff">Wolff</a></li> <li><a href="/wiki/%C3%89tienne_Balibar" title="Étienne Balibar">Balibar</a></li> <li><a href="/wiki/Terry_Eagleton" title="Terry Eagleton">Eagleton</a></li> <li><a href="/wiki/Robert_Kurz" title="Robert Kurz">Kurz</a></li> <li><a href="/wiki/Nancy_Hartsock" title="Nancy Hartsock">Hartsock</a></li> <li><a href="/wiki/Sheila_Rowbotham" title="Sheila Rowbotham">Rowbotham</a></li> <li><a href="/wiki/Chantal_Mouffe" title="Chantal Mouffe">Mouffe</a></li> <li><a href="/wiki/Norman_Geras" title="Norman Geras">Geras</a></li> <li><a href="/wiki/Robert_Brenner" title="Robert Brenner">Brenner</a></li> <li><a href="/wiki/Angela_Davis" title="Angela Davis">Davis</a></li> <li><a href="/wiki/Doreen_Massey_(geographer)" title="Doreen Massey (geographer)">Massey</a></li> <li><a href="/wiki/Harry_Cleaver" title="Harry Cleaver">Cleaver</a></li> <li><a href="/wiki/Maurice_Bishop" title="Maurice Bishop">Bishop</a></li> <li><a href="/wiki/Donna_Haraway" title="Donna Haraway">Haraway</a></li> <li><a href="/wiki/Leo_Panitch" title="Leo Panitch">Panitch</a></li> <li><a href="/wiki/Simon_Clarke_(sociologist)" title="Simon Clarke (sociologist)">Clarke</a></li> <li><a href="/wiki/Bob_Jessop" title="Bob Jessop">Jessop</a></li> <li><a href="/wiki/Mike_Davis_(scholar)" title="Mike Davis (scholar)">Davis</a></li> <li><a href="/wiki/Erik_Olin_Wright" title="Erik Olin Wright">Wright</a></li> <li><a href="/wiki/Nancy_Fraser" title="Nancy Fraser">Fraser</a></li> <li><a href="/wiki/Michael_Burawoy" title="Michael Burawoy">Burawoy</a></li> <li><a href="/wiki/John_Holloway_(sociologist)" title="John Holloway (sociologist)">Holloway</a></li> <li><a href="/wiki/Gillian_Rose" title="Gillian Rose">Rose</a></li> <li><a href="/wiki/Ernesto_Screpanti" title="Ernesto Screpanti">Screpanti</a></li> <li><a href="/wiki/G%C3%A1sp%C3%A1r_Mikl%C3%B3s_Tam%C3%A1s" title="Gáspár Miklós Tamás">Tamás</a></li> <li><a href="/wiki/Fred_Hampton" title="Fred Hampton">Hampton</a></li> <li><a href="/wiki/Alfonso_Cano" title="Alfonso Cano">Cano</a></li> <li><a href="/wiki/Slavoj_%C5%BDi%C5%BEek" title="Slavoj Žižek">Žižek</a></li> <li><a href="/wiki/Franco_Berardi" title="Franco Berardi">Berardi</a></li> <li><a href="/wiki/Thomas_Sankara" title="Thomas Sankara">Sankara</a></li> <li><a href="/wiki/Rosemary_Hennessy" title="Rosemary Hennessy">Hennessy</a></li> <li><a href="/wiki/John_McDonnell" title="John McDonnell">McDonnell</a></li> <li><a href="/wiki/Costas_Douzinas" title="Costas Douzinas">Douzinas</a></li> <li><a href="/wiki/David_Roediger" title="David Roediger">Roediger</a></li> <li><a href="/wiki/John_Bellamy_Foster" title="John Bellamy Foster">Foster</a></li> <li><a href="/wiki/Cornel_West" title="Cornel West">West</a></li> <li><a href="/wiki/Anuradha_Ghandy" title="Anuradha Ghandy">Ghandy</a></li> <li><a href="/wiki/Subcomandante_Marcos" title="Subcomandante Marcos">Marcos</a></li> <li><a href="/wiki/Michael_Heinrich" title="Michael Heinrich">Heinrich</a></li> <li><a href="/wiki/Vijay_Prashad" title="Vijay Prashad">Prashad</a></li> <li><a href="/wiki/Robin_Kelley" title="Robin Kelley">Kelley</a></li> <li><a href="/wiki/Jodi_Dean" title="Jodi Dean">Dean</a></li> <li><a href="/wiki/Fr%C3%A9d%C3%A9ric_Lordon" title="Frédéric Lordon">Lordon</a></li> <li><a href="/wiki/%C3%81lvaro_Garc%C3%ADa_Linera" title="Álvaro García Linera">Linera</a></li> <li><a href="/wiki/Mark_Fisher" title="Mark Fisher">Fisher</a></li> <li><a href="/wiki/Li_Minqi" title="Li Minqi">Li</a></li> <li><a href="/wiki/Glen_Coulthard" title="Glen Coulthard">Coulthard</a></li> <li><a href="/wiki/Andreas_Malm" title="Andreas Malm">Malm</a></li> <li><a href="/wiki/Richard_Seymour_(21st-century_writer)" title="Richard Seymour (21st-century writer)">Seymour</a></li> <li><a href="/wiki/Alberto_Toscano" title="Alberto Toscano">Toscano</a></li> <li><a href="/wiki/Tithi_Bhattacharya" title="Tithi Bhattacharya">Bhattacharya</a></li> <li><a href="/wiki/J._Moufawad-Paul" title="J. Moufawad-Paul">Moufawad-Paul</a></li> <li><a href="/wiki/Nick_Srnicek" title="Nick Srnicek">Srnicek</a></li> <li><a href="/wiki/Sre%C4%87ko_Horvat" title="Srećko Horvat">Horvat</a></li> <li><a href="/wiki/Agon_Hamza" title="Agon Hamza">Hamza</a></li> <li><a href="/wiki/Kohei_Saito" title="Kohei Saito">Saito</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed hlist"><div class="sidebar-list-title" style="background:transparent;border-top:1px solid #aaa;;color: var(--color-base)">Journals</div><div class="sidebar-list-content mw-collapsible-content" style="font-style:italic;"> <ul><li><a href="/wiki/Antipode_(journal)" title="Antipode (journal)">Antipode</a></li> <li><a href="/wiki/Capital_%26_Class" title="Capital & Class">Capital & Class</a></li> <li><a href="/wiki/Capitalism_Nature_Socialism" title="Capitalism Nature Socialism">Capitalism Nature Socialism</a></li> <li><a href="/wiki/Constellations_(journal)" title="Constellations (journal)">Constellations</a></li> <li><a href="/wiki/Critique:_Journal_of_Socialist_Theory" title="Critique: Journal of Socialist Theory">Critique: Journal of Socialist Theory</a></li> <li><a href="/wiki/Historical_Materialism_(journal)" title="Historical Materialism (journal)">Historical Materialism</a></li> <li><a href="/wiki/Mediations_(journal)" title="Mediations (journal)">Mediations</a></li> <li><a href="/wiki/Monthly_Review" title="Monthly Review">Monthly Review</a></li> <li><a href="/wiki/New_Left_Review" title="New Left Review">New Left Review</a></li> <li><a href="/wiki/Race_%26_Class" title="Race & Class">Race & Class</a></li> <li><a href="/wiki/Rethinking_Marxism" title="Rethinking Marxism">Rethinking Marxism</a></li> <li><a href="/wiki/Science_%26_Society" title="Science & Society">Science & Society</a></li> <li><a href="/wiki/Socialist_Register" title="Socialist Register">Socialist Register</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed hlist"><div class="sidebar-list-title" style="background:transparent;border-top:1px solid #aaa;;color: var(--color-base)">Related topics</div><div class="sidebar-list-content mw-collapsible-content"> <ul><li><a href="/wiki/21st-century_communist_theorists" title="21st-century communist theorists">21st-century communist theorists</a></li> <li><a href="/wiki/Anarchism" title="Anarchism">Anarchism</a></li> <li><a href="/wiki/Creative_destruction" title="Creative destruction">Creative destruction</a></li> <li><a href="/wiki/Conflict_theory" class="mw-redirect" title="Conflict theory">Conflict theory</a></li> <li><a href="/wiki/Criticism_of_Marxism" title="Criticism of Marxism">Criticism of Marxism</a></li> <li><a href="/wiki/Communism" title="Communism">Communism</a></li> <li><a href="/wiki/Communalism_(Bookchin)" class="mw-redirect" title="Communalism (Bookchin)">Communalism</a></li> <li><a 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style="line-height:1.6em;"> <ul><li><a href="/wiki/Outline_of_Marxism" title="Outline of Marxism">Outline</a></li> <li><span class="nowrap"><span class="noviewer" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/6/6e/Symbol-hammer-and-sickle.svg/16px-Symbol-hammer-and-sickle.svg.png" decoding="async" width="16" height="16" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/6/6e/Symbol-hammer-and-sickle.svg/24px-Symbol-hammer-and-sickle.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/6/6e/Symbol-hammer-and-sickle.svg/32px-Symbol-hammer-and-sickle.svg.png 2x" data-file-width="48" data-file-height="48" /></span></span> </span><a href="/wiki/Portal:Communism" title="Portal:Communism">Communism portal</a></li> <li><span class="nowrap"><span class="noviewer" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/c/cd/Socrates.png/10px-Socrates.png" decoding="async" width="10" height="16" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/c/cd/Socrates.png/15px-Socrates.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/c/cd/Socrates.png/21px-Socrates.png 2x" data-file-width="326" data-file-height="500" /></span></span> </span><a href="/wiki/Portal:Philosophy" title="Portal:Philosophy">Philosophy portal</a></li> <li><span class="nowrap"><span class="noviewer" typeof="mw:File"><a href="/wiki/File:Red_flag_II.svg" class="mw-file-description"><img alt="icon" src="//upload.wikimedia.org/wikipedia/commons/thumb/5/52/Red_flag_II.svg/16px-Red_flag_II.svg.png" decoding="async" width="16" height="14" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/5/52/Red_flag_II.svg/24px-Red_flag_II.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/5/52/Red_flag_II.svg/32px-Red_flag_II.svg.png 2x" data-file-width="466" data-file-height="411" /></a></span> </span><a href="/wiki/Portal:Socialism" title="Portal:Socialism">Socialism portal</a></li></ul></td></tr><tr><td class="sidebar-navbar"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1239400231"><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:Marxism_sidebar" title="Template:Marxism sidebar"><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:Marxism_sidebar" title="Template talk:Marxism sidebar"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:Marxism_sidebar" title="Special:EditPage/Template:Marxism sidebar"><abbr title="Edit this template">e</abbr></a></li></ul></div></td></tr></tbody></table><p><b>Marxian economics</b>, or the <b>Marxian school of economics</b>, is a <a href="/wiki/Heterodox_economics" title="Heterodox economics">heterodox</a> school of political economic thought. Its foundations can be traced back to <a href="/wiki/Karl_Marx" title="Karl Marx">Karl Marx's</a> <a href="/wiki/Critique_of_political_economy#Marx's_critique_of_political_economy" title="Critique of political economy">critique of political economy</a>. However, unlike <a href="/wiki/Critique_of_political_economy" title="Critique of political economy">critics of political economy</a>, Marxian economists tend to accept the concept of <a href="/wiki/Economy" title="Economy">the economy</a> <a href="/wiki/Prima_facie" title="Prima facie">prima facie</a>. Marxian economics comprises several different theories and includes multiple schools of thought, which are sometimes opposed to each other; in many cases Marxian analysis is used to complement, or to supplement, other economic approaches.<sup id="cite_ref-1" class="reference"><a href="#cite_note-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup> Because one does not necessarily have to be politically <a href="/wiki/Marxism" title="Marxism">Marxist</a> to be economically Marxian, the two adjectives coexist in <a href="/wiki/Usage" class="mw-redirect" title="Usage">usage</a>, rather than being <a href="/wiki/Synonym" title="Synonym">synonymous</a>: They share a <a href="/wiki/Semantic_field" title="Semantic field">semantic field</a>, while also allowing both <a href="/wiki/Connotation" title="Connotation">connotative</a> and <a href="/wiki/Denotation" title="Denotation">denotative</a> differences. An example of this can be found in the works of Soviet economists like <a href="/wiki/Lev_Gatovsky" title="Lev Gatovsky">Lev Gatovsky</a>, who sought to apply Marxist economic theory to the objectives, needs, and political conditions of the socialist construction in the Soviet Union, contributing to the development of Soviet <a href="/wiki/Political_economy" title="Political economy">Political Economy</a>. </p><p>Marxian economics concerns itself variously with the analysis of <a href="/wiki/Crisis_theory" title="Crisis theory">crisis</a> in <a href="/wiki/Capitalism" title="Capitalism">capitalism</a>, the role and distribution of the <a href="/wiki/Surplus_product" title="Surplus product">surplus product</a> and <a href="/wiki/Surplus_value" title="Surplus value">surplus value</a> in various types of <a href="/wiki/Economic_system" title="Economic system">economic systems</a>, the nature and origin of <a href="/wiki/Value_(economics)" title="Value (economics)">economic value</a>, the impact of class and class struggle on economic and political processes, and the process of <a href="/wiki/Evolutionary_economics" title="Evolutionary economics">economic evolution</a>. </p><p>Marxian economics—particularly in academia—is distinguished from Marxism as a political ideology, as well as from the <a href="/wiki/Normative" class="mw-redirect" title="Normative">normative</a> aspects of Marxist thought: this reflects the view that Marx's original approach to understanding economics and economic development is intellectually independent from his own advocacy of <a href="/wiki/Revolutionary_socialism" title="Revolutionary socialism">revolutionary socialism</a>.<sup id="cite_ref-2" class="reference"><a href="#cite_note-2"><span class="cite-bracket">[</span>2<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-3" class="reference"><a href="#cite_note-3"><span class="cite-bracket">[</span>3<span class="cite-bracket">]</span></a></sup> Marxian economists do not lean entirely upon the works of Marx and other widely known Marxists, but draw from a range of Marxist and non-Marxist sources.<sup id="cite_ref-4" class="reference"><a href="#cite_note-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup> </p><p>Considered a <a href="/wiki/Heterodox_economics" title="Heterodox economics">heterodox</a> school, the Marxian school has been criticized by claims relating to inconsistency, failed predictions, and scrutiny of nominally <a href="/wiki/Communist_state" title="Communist state">communist</a> countries' <a href="/wiki/Soviet-type_economic_planning" title="Soviet-type economic planning">economic planning</a> in the 20th century. According to economists such as <a href="/wiki/George_Stigler" title="George Stigler">George Stigler</a> and <a href="/wiki/Robert_Solow" title="Robert Solow">Robert Solow</a>, Marxist economics are not relevant to modern economics, having "virtually no impact"<sup id="cite_ref-:2_5-0" class="reference"><a href="#cite_note-:2-5"><span class="cite-bracket">[</span>5<span class="cite-bracket">]</span></a></sup> and only "represent[ing] a small minority of modern economists".<sup id="cite_ref-Stigler17322_6-0" class="reference"><a href="#cite_note-Stigler17322-6"><span class="cite-bracket">[</span>6<span class="cite-bracket">]</span></a></sup> However, some ideas of the Marxian school have contributed to mainstream understanding of the global economy. Certain concepts developed in Marxian economics, especially those related to <a href="/wiki/Capital_accumulation" title="Capital accumulation">capital accumulation</a> and the <a href="/wiki/Business_cycle" title="Business cycle">business cycle</a>, have been fitted for use in capitalist systems; one such example is <a href="/wiki/Joseph_Schumpeter" title="Joseph Schumpeter">Joseph Schumpeter</a>'s notion of <a href="/wiki/Creative_destruction" title="Creative destruction">creative destruction</a>. </p><p>Marx's magnum opus on <a href="/wiki/Critique_of_political_economy" title="Critique of political economy">critique of political economy</a> was <i><a href="/wiki/Das_Kapital" title="Das Kapital">Das Kapital</a></i> (<i>Capital: A Critique of Political Economy</i>) in three volumes, of which only the first volume was published in his lifetime (1867); the others were published by Friedrich Engels from Marx's notes. One of Marx's early works, <i>Critique of Political Economy</i>, was mostly incorporated into <i>Das Kapital</i>, especially the beginning of volume 1. Marx's notes made in preparation for writing <i>Das Kapital</i> were published in 1939 under the title <i><a href="/wiki/Grundrisse" title="Grundrisse">Grundrisse</a>.</i> </p> <meta property="mw:PageProp/toc" /> <div class="mw-heading mw-heading2"><h2 id="Marx's_critique_of_classical_economics"><span id="Marx.27s_critique_of_classical_economics"></span>Marx's critique of classical economics</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Marxian_economics&action=edit&section=1" title="Edit section: Marx's critique of classical economics"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1246091330"><style data-mw-deduplicate="TemplateStyles:r1066933788">.mw-parser-output .excerpt-hat .mw-editsection-like{font-style:normal}</style><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1066933788"><table class="sidebar sidebar-collapse nomobile nowraplinks hlist"><tbody><tr><td class="sidebar-pretitle">Part of <a href="/wiki/Category:Economics" title="Category:Economics">a series</a> on</td></tr><tr><th class="sidebar-title-with-pretitle" style="border-top:1px #fafafa solid; border-bottom:1px #fafafa solid; background:#efefef;padding:0.2em;font-size:200%;"><a href="/wiki/Economics" title="Economics">Economics</a></th></tr><tr><td class="sidebar-image"><span typeof="mw:File"><a href="/wiki/File:Supply-demand-equilibrium.svg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/8/8c/Supply-demand-equilibrium.svg/120px-Supply-demand-equilibrium.svg.png" decoding="async" width="120" height="120" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/8/8c/Supply-demand-equilibrium.svg/180px-Supply-demand-equilibrium.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/8/8c/Supply-demand-equilibrium.svg/240px-Supply-demand-equilibrium.svg.png 2x" data-file-width="217" data-file-height="217" /></a></span></td></tr><tr><td class="sidebar-above"> <ul><li><a href="/wiki/History_of_economic_thought" title="History of economic thought">History</a></li> <li><a href="/wiki/Outline_of_economics" title="Outline of economics">Outline</a></li> <li><a href="/wiki/Index_of_economics_articles" title="Index of economics articles">Index</a></li></ul></td></tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background:#efefef;;color: var(--color-base)">Branches and <a href="/wiki/JEL_classification_codes" title="JEL classification codes">classifications</a></div><div class="sidebar-list-content mw-collapsible-content"> <ul><li><a href="/wiki/Applied_economics" title="Applied economics">Applied</a></li> <li><a href="/wiki/Econometrics" title="Econometrics">Econometrics</a></li> <li><a href="/wiki/Heterodox_economics" title="Heterodox economics">Heterodox</a></li> <li><a href="/wiki/International_economics" title="International economics">International</a></li> <li><a href="/wiki/Microeconomics" title="Microeconomics">Micro</a> / <a href="/wiki/Macroeconomics" title="Macroeconomics">Macro</a></li> <li><a href="/wiki/Mainstream_economics" title="Mainstream economics">Mainstream</a></li> <li><a href="/wiki/Mathematical_economics" title="Mathematical economics">Mathematical</a></li> <li><a href="/wiki/Economic_methodology" title="Economic methodology">Methodology</a></li> <li><a href="/wiki/Political_economy" title="Political economy">Political</a></li> <li><a href="/wiki/JEL_classification_codes" title="JEL classification codes">JEL classification codes</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background:#efefef;;color: var(--color-base)">Concepts, theory and techniques</div><div class="sidebar-list-content mw-collapsible-content"> <ul><li><a href="/wiki/Economic_system" title="Economic system">Economic systems</a></li> <li><a href="/wiki/Economic_growth" title="Economic growth">Economic growth</a></li> <li><a href="/wiki/Market_(economics)" title="Market (economics)">Market</a></li> <li><a href="/wiki/National_accounts" title="National accounts">National accounting</a></li> <li><a href="/wiki/Experimental_economics" title="Experimental economics">Experimental economics</a></li> <li><a href="/wiki/Computational_economics" title="Computational economics">Computational economics</a></li> <li><a href="/wiki/Game_theory" title="Game theory">Game theory</a></li> <li><a href="/wiki/Operations_research" title="Operations research">Operations research</a></li> <li><a href="/wiki/Middle_income_trap" title="Middle income trap">Middle income trap</a></li> <li><a href="/wiki/Industrial_complex" title="Industrial complex">Industrial complex</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background:#efefef;;color: var(--color-base)">By application</div><div class="sidebar-list-content mw-collapsible-content"> <ul><li><a href="/wiki/Agricultural_economics" title="Agricultural economics">Agricultural</a></li> <li><a href="/wiki/Behavioral_economics" title="Behavioral economics">Behavioral</a></li> <li><a href="/wiki/Business_economics" title="Business economics">Business</a></li> <li><a href="/wiki/Cultural_economics" title="Cultural economics">Cultural</a></li> <li><a href="/wiki/Democracy_and_economic_growth" title="Democracy and economic growth">Democracy</a></li> <li><a href="/wiki/Demographic_economics" title="Demographic economics">Demographic</a></li> <li><a href="/wiki/Development_economics" title="Development economics">Development</a></li> <li><a href="/wiki/Economics_of_digitization" title="Economics of digitization">Digitization</a></li> <li><a href="/wiki/Ecological_economics" title="Ecological economics">Ecological</a></li> <li><a href="/wiki/Education_economics" title="Education economics">Education</a></li> <li><a href="/wiki/Engineering_economics" title="Engineering economics">Engineering</a></li> <li><a href="/wiki/Environmental_economics" title="Environmental economics">Environmental</a></li> <li><a href="/wiki/Evolutionary_economics" title="Evolutionary economics">Evolutionary</a></li> <li><a href="/wiki/Expeditionary_economics" title="Expeditionary economics">Expeditionary</a></li> <li><a href="/wiki/Feminist_economics" title="Feminist economics">Feminist</a></li> <li><a href="/wiki/Financial_economics" title="Financial economics">Financial</a></li> <li><a href="/wiki/Economic_geography" title="Economic geography">Geographical</a></li> <li><a href="/wiki/Happiness_economics" title="Happiness economics">Happiness</a></li> <li><a href="/wiki/Health_economics" title="Health economics">Health</a></li> <li><a href="/wiki/Economic_history" title="Economic history">Historical</a></li> <li><a href="/wiki/Humanistic_economics" title="Humanistic economics">Humanistic</a></li> <li><a href="/wiki/Industrial_organization" title="Industrial organization">Industrial organization</a></li> <li><a href="/wiki/Information_economics" title="Information economics">Information</a></li> <li><a href="/wiki/Institutional_economics" title="Institutional economics">Institutional</a></li> <li><a href="/wiki/Knowledge_economy" title="Knowledge economy">Knowledge</a></li> <li><a href="/wiki/Labour_economics" title="Labour economics">Labour</a></li> <li><a href="/wiki/Law_and_economics" title="Law and economics">Law</a></li> <li><a href="/wiki/Managerial_economics" title="Managerial economics">Managerial</a></li> <li><a href="/wiki/Monetary_economics" title="Monetary economics">Monetary</a></li> <li><a href="/wiki/Natural_resource_economics" title="Natural resource economics">Natural resource</a></li> <li><a href="/wiki/Organizational_economics" title="Organizational economics">Organizational</a></li> <li><a href="/wiki/Economics_of_participation" title="Economics of participation">Participation</a></li> <li><a href="/wiki/Personnel_economics" title="Personnel economics">Personnel</a></li> <li><a href="/wiki/Economic_planning" title="Economic planning">Planning</a></li> <li><a href="/wiki/Economic_policy" title="Economic policy">Policy</a></li> <li><a href="/wiki/Public_economics" title="Public economics">Public</a></li> <li><a href="/wiki/Public_choice" title="Public choice">Public choice</a> / <a href="/wiki/Social_choice_theory" title="Social choice theory">Social choice theory</a></li> <li><a href="/wiki/Regional_economics" title="Regional economics">Regional</a></li> <li><a href="/wiki/Rural_economics" title="Rural economics">Rural</a></li> <li><a href="/wiki/Service_economy" title="Service economy">Service</a></li> <li><a href="/wiki/Socioeconomics" class="mw-redirect" title="Socioeconomics">Socio</a></li> <li><a href="/wiki/Economic_sociology" title="Economic sociology">Sociological</a></li> <li><a href="/wiki/Solidarity_economy" title="Solidarity economy">Solidarity</a></li> <li><a href="/wiki/Economic_statistics" title="Economic statistics">Statistics</a></li> <li><a href="/wiki/Urban_economics" title="Urban economics">Urban</a></li> <li><a href="/wiki/Welfare_economics" title="Welfare economics">Welfare</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background:#efefef;;color: var(--color-base)">Notable <a href="/wiki/Economist" title="Economist">economists</a></div><div class="sidebar-list-content mw-collapsible-content"> <div class="excerpt-block"><div class="excerpt"> <ul><li><a href="/wiki/Bernard_de_Mandeville" class="mw-redirect" title="Bernard de Mandeville">de Mandeville</a></li> <li><a href="/wiki/Fran%C3%A7ois_Quesnay" title="François Quesnay">Quesnay</a></li> <li><a href="/wiki/Adam_Smith" title="Adam Smith">Smith</a></li> <li><a href="/wiki/Thomas_Robert_Malthus" title="Thomas Robert Malthus">Malthus</a></li> <li><a href="/wiki/Jean-Baptiste_Say" title="Jean-Baptiste Say">Say</a></li> <li><a href="/wiki/David_Ricardo" title="David Ricardo">Ricardo</a></li> <li><a href="/wiki/Johann_Heinrich_von_Th%C3%BCnen" title="Johann Heinrich von Thünen">von Thünen</a></li> <li><a href="/wiki/Friedrich_List" title="Friedrich List">List</a></li> <li><a href="/wiki/Fr%C3%A9d%C3%A9ric_Bastiat" title="Frédéric Bastiat">Bastiat</a></li> <li><a href="/wiki/Antoine_Augustin_Cournot" title="Antoine Augustin Cournot">Cournot</a></li> <li><a href="/wiki/John_Stuart_Mill" title="John Stuart Mill">Mill</a></li> <li><a href="/wiki/Hermann_Heinrich_Gossen" title="Hermann Heinrich Gossen">Gossen</a></li> <li><a href="/wiki/Karl_Marx" title="Karl Marx">Marx</a></li> <li><a href="/wiki/L%C3%A9on_Walras" title="Léon Walras">Walras</a></li> <li><a href="/wiki/William_Stanley_Jevons" title="William Stanley Jevons">Jevons</a></li> <li><a href="/wiki/Henry_George" title="Henry George">George</a></li> <li><a href="/wiki/Carl_Menger" title="Carl Menger">Menger</a></li> <li><a href="/wiki/Alfred_Marshall" title="Alfred Marshall">Marshall</a></li> <li><a href="/wiki/Francis_Ysidro_Edgeworth" title="Francis Ysidro Edgeworth">Edgeworth</a></li> <li><a href="/wiki/John_Bates_Clark" title="John Bates Clark">Clark</a></li> <li><a href="/wiki/Vilfredo_Pareto" title="Vilfredo Pareto">Pareto</a></li> <li><a href="/wiki/Eugen_von_B%C3%B6hm-Bawerk" title="Eugen von Böhm-Bawerk">von Böhm-Bawerk</a></li> <li><a href="/wiki/Friedrich_von_Wieser" title="Friedrich von Wieser">von Wieser</a></li> <li><a href="/wiki/Thorstein_Veblen" title="Thorstein Veblen">Veblen</a></li> <li><a href="/wiki/Irving_Fisher" title="Irving Fisher">Fisher</a></li> <li><a href="/wiki/Arthur_Cecil_Pigou" title="Arthur Cecil Pigou">Pigou</a></li> <li><a href="/wiki/Eli_Heckscher" title="Eli Heckscher">Heckscher</a></li> <li><a href="/wiki/Ludwig_von_Mises" title="Ludwig von Mises">von Mises</a></li> <li><a href="/wiki/Joseph_Schumpeter" title="Joseph Schumpeter">Schumpeter</a></li> <li><a href="/wiki/John_Maynard_Keynes" title="John Maynard Keynes">Keynes</a></li> <li><a href="/wiki/Frank_Knight" title="Frank Knight">Knight</a></li> <li><a href="/wiki/Karl_Polanyi" title="Karl Polanyi">Polanyi</a></li> <li><a href="/wiki/Ragnar_Frisch" title="Ragnar Frisch">Frisch</a></li> <li><a href="/wiki/Piero_Sraffa" title="Piero Sraffa">Sraffa</a></li> <li><a href="/wiki/Gunnar_Myrdal" title="Gunnar Myrdal">Myrdal</a></li> <li><a href="/wiki/Friedrich_Hayek" title="Friedrich Hayek">Hayek</a></li> <li><a href="/wiki/Micha%C5%82_Kalecki" title="Michał Kalecki">Kalecki</a></li> <li><a href="/wiki/Wilhelm_R%C3%B6pke" title="Wilhelm Röpke">Röpke</a></li> <li><a href="/wiki/Simon_Kuznets" title="Simon Kuznets">Kuznets</a></li> <li><a href="/wiki/Jan_Tinbergen" title="Jan Tinbergen">Tinbergen</a></li> <li><a href="/wiki/Joan_Robinson" title="Joan Robinson">Robinson</a></li> <li><a href="/wiki/John_von_Neumann" title="John von Neumann">von Neumann</a></li> <li><a href="/wiki/John_Hicks" title="John Hicks">Hicks</a></li> <li><a href="/wiki/Oskar_R._Lange" title="Oskar R. Lange">Lange</a></li> <li><a href="/wiki/Wassily_Leontief" title="Wassily Leontief">Leontief</a></li> <li><a href="/wiki/John_Kenneth_Galbraith" title="John Kenneth Galbraith">Galbraith</a></li> <li><a href="/wiki/Tjalling_Koopmans" title="Tjalling Koopmans">Koopmans</a></li> <li><a href="/wiki/E._F._Schumacher" title="E. F. Schumacher">Schumacher</a></li> <li><a href="/wiki/Milton_Friedman" title="Milton Friedman">Friedman</a></li> <li><a href="/wiki/Paul_Samuelson" title="Paul Samuelson">Samuelson</a></li> <li><a href="/wiki/Herbert_A._Simon" title="Herbert A. Simon">Simon</a></li> <li><a href="/wiki/James_M._Buchanan" title="James M. Buchanan">Buchanan</a></li> <li><a href="/wiki/Kenneth_Arrow" title="Kenneth Arrow">Arrow</a></li> <li><a href="/wiki/William_Baumol" title="William Baumol">Baumol</a></li> <li><a href="/wiki/Robert_Solow" title="Robert Solow">Solow</a></li> <li><a href="/wiki/Murray_Rothbard" title="Murray Rothbard">Rothbard</a></li> <li><a href="/wiki/Alan_Greenspan" title="Alan Greenspan">Greenspan</a></li> <li><a href="/wiki/Thomas_Sowell" title="Thomas Sowell">Sowell</a></li> <li><a href="/wiki/Gary_Becker" title="Gary Becker">Becker</a></li> <li><a href="/wiki/Elinor_Ostrom" title="Elinor Ostrom">Ostrom</a></li> <li><a href="/wiki/Amartya_Sen" title="Amartya Sen">Sen</a></li> <li><a href="/wiki/Robert_Lucas_Jr." title="Robert Lucas Jr.">Lucas</a></li> <li><a href="/wiki/Joseph_Stiglitz" title="Joseph Stiglitz">Stiglitz</a></li> <li><a href="/wiki/Richard_Thaler" title="Richard Thaler">Thaler</a></li> <li><a href="/wiki/Hans-Hermann_Hoppe" title="Hans-Hermann Hoppe">Hoppe</a></li> <li><a href="/wiki/Paul_Krugman" title="Paul Krugman">Krugman</a></li> <li><a href="/wiki/Thomas_Piketty" title="Thomas Piketty">Piketty</a></li> <li><i><a href="/wiki/Category:Economists" title="Category:Economists">more</a></i></li></ul></div></div> </div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background:#efefef;;color: var(--color-base)"><a href="/wiki/Category:Economics_lists" title="Category:Economics lists">Lists</a></div><div class="sidebar-list-content mw-collapsible-content"> <ul><li><a href="/wiki/Glossary_of_economics" title="Glossary of economics">Glossary</a></li> <li><a href="/wiki/List_of_economists" title="List of economists">Economists</a></li> <li><a href="/wiki/List_of_important_publications_in_economics" title="List of important publications in economics">Publications</a> (<a href="/wiki/List_of_economics_journals" title="List of economics journals">journals</a>)</li> <li><a href="/wiki/Schools_of_economic_thought" title="Schools of economic thought">Schools</a></li></ul> </div></div></td> </tr><tr><td class="sidebar-below"> <ul><li><span class="nowrap"><span class="noviewer" typeof="mw:File"><a href="/wiki/File:Emblem-money.svg" class="mw-file-description"><img alt="icon" src="//upload.wikimedia.org/wikipedia/commons/thumb/f/f3/Emblem-money.svg/16px-Emblem-money.svg.png" decoding="async" width="16" height="16" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/f/f3/Emblem-money.svg/24px-Emblem-money.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/f/f3/Emblem-money.svg/32px-Emblem-money.svg.png 2x" data-file-width="48" data-file-height="48" /></a></span> </span><a href="/wiki/Portal:Business" title="Portal:Business">Business portal</a></li> <li><span class="nowrap"><span class="noviewer" typeof="mw:File"><span><img alt="icon" src="//upload.wikimedia.org/wikipedia/commons/thumb/5/55/Bills_and_coins.svg/16px-Bills_and_coins.svg.png" decoding="async" width="16" height="8" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/5/55/Bills_and_coins.svg/24px-Bills_and_coins.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/5/55/Bills_and_coins.svg/32px-Bills_and_coins.svg.png 2x" data-file-width="960" data-file-height="465" /></span></span> </span><a href="/wiki/Portal:Money" title="Portal:Money">Money portal</a></li></ul></td></tr><tr><td class="sidebar-navbar"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1239400231"><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:Economics_sidebar" title="Template:Economics sidebar"><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:Economics_sidebar" title="Template talk:Economics sidebar"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:Economics_sidebar" title="Special:EditPage/Template:Economics sidebar"><abbr title="Edit this template">e</abbr></a></li></ul></div></td></tr></tbody></table> <p>Marx's <a href="/wiki/Critique_of_political_economy" title="Critique of political economy">critique of political economy</a> took as its starting point the work of the best-known economists of his day, the British moral philosopher turned economist <a href="/wiki/Adam_Smith" title="Adam Smith">Adam Smith</a> as well as <a href="/wiki/David_Ricardo" title="David Ricardo">David Ricardo</a>. </p><p>In <i><a href="/wiki/The_Wealth_of_Nations" title="The Wealth of Nations">The Wealth of Nations</a></i> (1776), Smith argued that the most important characteristic of a market economy was that it permitted a rapid growth in productive abilities. Smith claimed that a growing market stimulated a greater "<a href="/wiki/Division_of_labor" class="mw-redirect" title="Division of labor">division of labor</a>" (i.e. specialization of businesses and/or workers) and in turn this led to greater productivity. Although Smith generally said little about laborers, he did note that an increased division of labor could at some point cause harm to those whose jobs became narrower and narrower as the division of labor expanded. Smith maintained that a <i><a href="/wiki/Laissez-faire" title="Laissez-faire">laissez-faire</a></i> economy would naturally correct itself over time. </p><p>Marx followed Smith by claiming that the most important beneficial economic consequence of capitalism was a rapid growth in productivity abilities. Marx also expanded greatly on the notion that laborers could come to harm as capitalism became more productive. Additionally, Marx noted in <i>Theories of Surplus Value</i>: "We see the great advance made by Adam Smith beyond the <a href="/wiki/Physiocrats" class="mw-redirect" title="Physiocrats">Physiocrats</a> in the analysis of surplus-value and hence of capital. In their view, it is only one definite kind of concrete labour—agricultural labour—that creates surplus-value... But to Adam Smith, it is general social labour — no matter in what use-values it manifests itself — the mere quantity of necessary labour, which creates value. Surplus-value, whether it takes the form of profit, rent, or the secondary form of interest, is nothing but a part of this labour, appropriated by the owners of the material conditions of labour in the exchange with living labour". </p><p>Malthus' claim in <i><a href="/wiki/An_Essay_on_the_Principle_of_Population" title="An Essay on the Principle of Population">An Essay on the Principle of Population</a></i> (1798) that population growth was the primary cause of subsistence level wages for laborers provoked Marx to develop an alternative theory of wage determination. Whereas Malthus presented a historical theory of population growth, Marx offered a theory of how a relative surplus population in capitalism tended to push wages to subsistence levels. Marx saw this relative surplus population as coming from economic causes and not from biological causes (as in Malthus). This economic-based theory of surplus population is often labeled as Marx's theory of the <a href="/wiki/Reserve_army_of_labour" title="Reserve army of labour">reserve army of labour</a>. </p><p>Ricardo developed a theory of distribution within capitalism—that is, a theory of how the output of society is distributed to classes within society. The most mature version of this theory, presented in <i><a href="/wiki/On_the_Principles_of_Political_Economy_and_Taxation" title="On the Principles of Political Economy and Taxation">On the Principles of Political Economy and Taxation</a></i> (1817), was based on a <a href="/wiki/Labour_theory_of_value" class="mw-redirect" title="Labour theory of value">labour theory of value</a> in which the value of any produced object is equal to the labor embodied in the object and Smith too presented a labor theory of value, but it was only incompletely realized. Also notable in Ricardo's economic theory was that profit was a deduction from society's output and that wages and profit were inversely related:<sup id="cite_ref-7" class="reference"><a href="#cite_note-7"><span class="cite-bracket">[</span>7<span class="cite-bracket">]</span></a></sup> an increase in profit came at the expense of a reduction in wages. Marx built much of the formal economic analysis found in <i>Capital</i> on Ricardo's theory of the economy. </p><p>Marx also criticized two features of "bourgeois economy" he perceived as main factors preventing full realization of society's production power: ownership of the means of production, and allegedly irrational operation of the economy, which leads to "disturbances" and surplus:<sup id="cite_ref-:0_8-0" class="reference"><a href="#cite_note-:0-8"><span class="cite-bracket">[</span>8<span class="cite-bracket">]</span></a></sup> </p> <style data-mw-deduplicate="TemplateStyles:r1244412712">.mw-parser-output .templatequote{overflow:hidden;margin:1em 0;padding:0 32px}.mw-parser-output .templatequotecite{line-height:1.5em;text-align:left;margin-top:0}@media(min-width:500px){.mw-parser-output .templatequotecite{padding-left:1.6em}}</style><blockquote class="templatequote"><p>When society, by taking possession of all means of production and using them on a planned basis, has freed itself and all its members from the bondage in which they are now held by these means of production which they themselves have produced but which confront them as an irresistible alien force.</p><div class="templatequotecite">— <cite><a href="/wiki/Friedrich_Engels" title="Friedrich Engels">Friedrich Engels</a>, <i><a href="/wiki/Anti-D%C3%BChring" title="Anti-Dühring">Anti-Dühring</a></i></cite></div></blockquote> <div class="mw-heading mw-heading2"><h2 id="Marx's_critique_of_political_economy_according_to_Marxist_economists"><span id="Marx.27s_critique_of_political_economy_according_to_Marxist_economists"></span>Marx's critique of political economy according to Marxist economists</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Marxian_economics&action=edit&section=2" title="Edit section: Marx's critique of political economy according to Marxist economists"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>According to some, Marx employed a <a href="/wiki/Labour_theory_of_value" class="mw-redirect" title="Labour theory of value">labour theory of value</a>, which holds that the value of a commodity is the <a href="/wiki/Socially_necessary_labour_time" title="Socially necessary labour time">socially necessary labour time</a> invested in it. In this model, <a href="/wiki/Capitalism" title="Capitalism">capitalists</a> do not pay <a href="/wiki/Workforce" title="Workforce">workers</a> the full value of the commodities they produce; rather, they compensate the worker for the necessary labor only (the worker's wage, which cover only the necessary means of subsistence in order to maintain him working in the present and his family in the future as a group). This necessary labor is necessarily only a fraction of a full working day – the rest, surplus-labor, would be pocketed by the capitalist as profit. </p><p>Marx theorized that the gap between the value a worker produces and his wage is a form of unpaid labour, known as <a href="/wiki/Surplus_value" title="Surplus value">surplus value</a>. Moreover, Marx argues that markets tend to obscure the social relationships and processes of production; he called this <a href="/wiki/Commodity_fetishism" title="Commodity fetishism">commodity fetishism</a>. People are highly aware of commodities, and usually don't think about the relationships and labor they represent. </p><p>Marx's analysis leads to the consideration of economic crisis. "A propensity to crisis—what we would call <i>business cycles</i>—was not recognised as an inherent feature of capitalism by any other economist of Marx's time," observed <a href="/wiki/Robert_Heilbroner" title="Robert Heilbroner">Robert Heilbroner</a> in <i><a href="/wiki/The_Worldly_Philosophers" class="mw-redirect" title="The Worldly Philosophers">The Worldly Philosophers</a></i>, "although future events have certainly indicated his prediction of successive boom and crash."<sup id="cite_ref-Heilbroner_2000_164_9-0" class="reference"><a href="#cite_note-Heilbroner_2000_164-9"><span class="cite-bracket">[</span>9<span class="cite-bracket">]</span></a></sup> Marx's theory of economic cycles was formalised by <a href="/wiki/Richard_M._Goodwin" title="Richard M. Goodwin">Richard Goodwin</a> in "A Growth Cycle" (1967),<sup id="cite_ref-Scre&Zam_2005_474_10-0" class="reference"><a href="#cite_note-Scre&Zam_2005_474-10"><span class="cite-bracket">[</span>10<span class="cite-bracket">]</span></a></sup> a paper published during the centenary year of <i><a href="/wiki/Capital,_Volume_I" class="mw-redirect" title="Capital, Volume I">Capital, Volume I</a></i>. </p><p>To resolve the bourgeois contradiction between the ownership of the means of production and the "social act" of production itself, Marx proposed socialization of the means of production. To remove the "disturbances" of capitalist economy, Marx postulated "rational management" of the economy, which would replace the "chaotic" market forces driven by a "sum of individual preferences":<sup id="cite_ref-:0_8-1" class="reference"><a href="#cite_note-:0-8"><span class="cite-bracket">[</span>8<span class="cite-bracket">]</span></a></sup> </p> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1244412712"><blockquote class="templatequote"><p>If we conceive society as being not capitalistic but communistic the question then comes down to the need of society to calculate beforehand how much labour, means of production, and means of subsistence it can invest, without detriment, in such lines of business as for instance the building of railways, which do not furnish any means of production or subsistence, nor produce any useful effect for a long time, a year or more, where they extract labour, means of production and means of subsistence from the total annual production.</p><div class="templatequotecite">— <cite><a href="/wiki/Karl_Marx" title="Karl Marx">Karl Marx</a>, <i><a href="/wiki/Capital:_Critique_of_Political_Economy" class="mw-redirect" title="Capital: Critique of Political Economy">Capital</a></i>, Lawrence & Wishart, London, 1957, pp. 314–315</cite></div></blockquote> <div class="mw-heading mw-heading3"><h3 id="Methodology">Methodology</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Marxian_economics&action=edit&section=3" title="Edit section: Methodology"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Marx used <a href="/wiki/Dialectics" class="mw-redirect" title="Dialectics">dialectics</a>, a method that he adapted from the works of <a href="/wiki/Georg_Wilhelm_Friedrich_Hegel" title="Georg Wilhelm Friedrich Hegel">Georg Wilhelm Friedrich Hegel</a>. Dialectics focuses on relation and change, and tries to avoid seeing the universe as composed of separate objects, each with essentially stable unchanging characteristics. One component of dialectics is <a href="/wiki/Abstraction" title="Abstraction">abstraction</a>; out of an undifferentiated mass of data or system conceived of as an organic whole, one abstracts portions to think about or to refer to. One may abstract objects, but also—and more typically—relations, and processes of change. An abstraction may be extensive or narrow, may focus on generalities or specifics, and may be made from various points of view. For example, a sale may be abstracted from a buyer's or a seller's point of view, and one may abstract a particular sale or sales in general. Another component is the dialectical deduction of categories. Marx uses Hegel's notion of <i>categories</i>, which are <i>forms</i>, for economics: The commodity <i>form</i>, the money <i>form</i>, the capital <i>form</i> etc. have to be systematically deduced instead of being grasped in an outward way as done by the bourgeois economists. This corresponds to Hegel's critique of Kant's transcendental philosophy.<sup id="cite_ref-11" class="reference"><a href="#cite_note-11"><span class="cite-bracket">[</span>11<span class="cite-bracket">]</span></a></sup> </p><p>Marx regarded <a href="/wiki/History" title="History">history</a> as having passed through several stages. The details of his periodisation vary somewhat through his works, but it essentially is: <a href="/wiki/Primitive_Communism" class="mw-redirect" title="Primitive Communism">Primitive Communism</a> – <a href="/wiki/Slavery" title="Slavery">Slave</a> societies – <a href="/wiki/Feudalism" title="Feudalism">Feudalism</a> – <a href="/wiki/Capitalism" title="Capitalism">Capitalism</a> – <a href="/wiki/Socialism" title="Socialism">Socialism</a> – <a href="/wiki/Communism" title="Communism">Communism</a> (capitalism being the present stage and communism the future). Marx occupied himself primarily with describing capitalism. Historians place the beginning of capitalism some time between about 1450 (Sombart) and some time in the 17th century (Hobsbawm).<sup id="cite_ref-12" class="reference"><a href="#cite_note-12"><span class="cite-bracket">[</span>12<span class="cite-bracket">]</span></a></sup> </p><p>Marx defines a <a href="/wiki/Commodity_(Marxism)" title="Commodity (Marxism)">commodity</a> as a product of human labour that is produced for sale in a market, and many products of human labour are commodities. Marx began his major work on economics, <i>Capital</i>, with a discussion of commodities; Chapter One is called "Commodities". </p> <div class="mw-heading mw-heading3"><h3 id="Commodities">Commodities</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Marxian_economics&action=edit&section=4" title="Edit section: Commodities"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <div style="float:right; width:29%"> <div style="margin:1em; border:0.17em solid black; padding:1em; background-color:#fdf3dc"> <p>"The wealth of those societies in which the capitalist <a href="/wiki/Mode_of_production" title="Mode of production">mode of production</a> prevails, presents itself as 'an immense accumulation of commodities,' its unit being a single commodity." (First sentence of <i>Capital</i>, Volume I.) </p> </div> <div style="margin:1em; border:0.17em solid black; padding:1em; background-color:#fdfaf3"> <p>"The common substance that manifests itself in the exchange value of commodities whenever they are exchanged, is their value." (<i>Capital</i>, I, Chap I, section 1.) </p> </div> </div> <p>The worth of a commodity can be conceived of in two different ways, which Marx calls use-value and value. A commodity's use-value is its usefulness for fulfilling some practical purpose; for example, the use-value of a piece of food is that it provides nourishment and pleasurable taste; the use value of a hammer, that it can drive nails. </p><p>Value is, on the other hand, a measure of a commodity's worth in comparison to other commodities. It is closely related to <a href="/wiki/Exchange-value" class="mw-redirect" title="Exchange-value">exchange-value</a>, the ratio at which commodities should be traded for one another, but not identical: value is at a more general level of abstraction; exchange-value is a realisation or form of it. </p><p>Marx argued that if value is a property common to all commodities, then whatever it is derived from, whatever determines it, must be common to all commodities. The only relevant thing that is, in Marx's view, common to all commodities is human labour: they are all produced by human labour. </p><p>Marx concluded that the value of a commodity is simply the amount of human labour required to produce it. Thus Marx adopted a labour theory of value, as had his predecessors Ricardo and MacCulloch; Marx himself traced the existence of the theory at least as far back as an anonymous work, <i>Some Thoughts on the Interest of Money in General, and Particularly the Publick Funds, &c.</i>, published in London around 1739 or 1740.<sup id="cite_ref-13" class="reference"><a href="#cite_note-13"><span class="cite-bracket">[</span>13<span class="cite-bracket">]</span></a></sup> </p><p>Marx placed some restrictions on the validity of his value theory: he said that in order for it to hold, the commodity must not be a useless item; and it is not the actual amount of labour that went into producing a particular individual commodity that determines its value, but the amount of labour that a worker of average energy and ability, working with average intensity, using the prevailing techniques of the day, would need to produce it. A formal statement of the law is: the value of a commodity is equal to the average socially necessary labour time required for its production. (Capital, I, Chap I – p. 39 in Progress Publishers, Moscow, ed'n.) </p><p>Marx's contention was that commodities tend, at a fairly general level of abstraction, to exchange at value; that is, if Commodity A, whose value is "V", is traded for Commodity B, it will tend to fetch an amount of Commodity B whose value is the same, "V". Particular circumstances will cause divergence from this rule, however. </p> <div class="mw-heading mw-heading3"><h3 id="Money">Money</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Marxian_economics&action=edit&section=5" title="Edit section: Money"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Marx held that metallic money, such as gold, is a commodity, and its value is the labour time necessary to produce it (mine it, smelt it, etc.). Marx argued that gold and silver are conventionally used as money because they embody a large amount of labour in a small, durable, form, which is convenient. Paper money is, in this model, a representation of gold or silver, almost without value of its own but held in circulation by <a href="/wiki/Fiat_money" title="Fiat money">state decree</a>. </p> <div style="float:right; width:29%; margin:1em; border:0.17em solid black; padding:1em; background-color:#fdfbf1"> <p>"Paper money is a token representing gold or money." (<i>Capital</i>, I, Chap III, section 2, part c.) </p> </div> <div class="mw-heading mw-heading3"><h3 id="Production">Production</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Marxian_economics&action=edit&section=6" title="Edit section: Production"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Marx lists the elementary factors of production as: </p> <ol><li>Labour, "the personal activity of man." (Capital, I, VII, 1.)</li> <li>The subject of labour: the thing worked on.</li> <li>The <a href="/wiki/Instruments_of_labour" class="mw-redirect" title="Instruments of labour">instruments of labour</a>: tools, labouring domestic animals like horses, chemicals used in modifying the subject, etc.</li></ol> <p>Some subjects of labour are available directly from <a href="/wiki/Nature" title="Nature">Nature</a>: uncaught fish, unmined coal, etc. Others are results of a previous stage of production; these are known as <a href="/wiki/Raw_material" title="Raw material">raw materials</a>, such as flour or yarn. Workshops, canals, and roads are considered instruments of labour. (<i>Capital</i>, I, VII, 1.) Coal for boilers, oil for wheels, and hay for draft horses are considered raw materials, not instruments of labour. </p> <div style="float:right; width:29%; margin:1em; border:0.17em solid black; padding:1em; background-color:#fdf4d0"> <p>"If, on the other hand, the subject of labour has, so to say, been filtered through previous labour, we call it raw material. . . ." (<i>Capital</i>, I, Chap VII, section 1.) </p> </div> <p>The subjects of labour and instruments of labour together are called the <a href="/wiki/Means_of_production" title="Means of production">means of production</a>. <a href="/wiki/Relations_of_production" title="Relations of production">Relations of production</a> are the relations human beings adopt toward each other as part of the production process. In capitalism, <a href="/wiki/Wage_labour" title="Wage labour">wage labour</a> and <a href="/wiki/Private_property" title="Private property">private property</a> are part of the system of relations of production. </p> <dl><dd>Calculation of value of a product (price not to be confused with value):</dd> <dd>If labour is performed directly on Nature and with instruments of negligible value, the value of the product is simply the labour time. If labour is performed on something that is itself the product of previous labour (that is, on a raw material), using instruments that have some value, the value of the product is the value of the raw material, plus depreciation on the instruments, plus the labour time. Depreciation may be figured simply by dividing the value of the instruments by their working life; <i>e.g.</i> if a lathe worth £1,000 lasts in use 10 years it imparts value to the product at a rate of £100 per year.</dd></dl> <table style="margin-left:2em; border:none"> <tbody><tr> <td style="width:15em; vertical-align:top"><span class="mwe-math-element"><span class="mwe-math-mathml-inline mwe-math-mathml-a11y" style="display: none;"><math xmlns="http://www.w3.org/1998/Math/MathML" alttext="{\displaystyle value=mp+lt}"> <semantics> <mrow class="MJX-TeXAtom-ORD"> <mstyle displaystyle="true" scriptlevel="0"> <mi>v</mi> <mi>a</mi> <mi>l</mi> <mi>u</mi> <mi>e</mi> <mo>=</mo> <mi>m</mi> <mi>p</mi> <mo>+</mo> <mi>l</mi> <mi>t</mi> </mstyle> </mrow> <annotation encoding="application/x-tex">{\displaystyle value=mp+lt}</annotation> </semantics> </math></span><img src="https://wikimedia.org/api/rest_v1/media/math/render/svg/1f95b3f374a981803169fdc7ad0fe0f126451b9b" class="mwe-math-fallback-image-inline mw-invert skin-invert" aria-hidden="true" style="vertical-align: -0.671ex; width:16.145ex; height:2.509ex;" alt="{\displaystyle value=mp+lt}"></span>, </td> <td style="padding-right:2em">Where: </td> <td style="padding-right:2em"><span class="mwe-math-element"><span class="mwe-math-mathml-inline mwe-math-mathml-a11y" style="display: none;"><math xmlns="http://www.w3.org/1998/Math/MathML" alttext="{\displaystyle value}"> <semantics> <mrow class="MJX-TeXAtom-ORD"> <mstyle displaystyle="true" scriptlevel="0"> <mi>v</mi> <mi>a</mi> <mi>l</mi> <mi>u</mi> <mi>e</mi> </mstyle> </mrow> <annotation encoding="application/x-tex">{\displaystyle value}</annotation> </semantics> </math></span><img src="https://wikimedia.org/api/rest_v1/media/math/render/svg/72e02aec7adfaf774c6023c01dc66e1af39e98ce" class="mwe-math-fallback-image-inline mw-invert skin-invert" aria-hidden="true" style="vertical-align: -0.338ex; width:5.464ex; height:2.176ex;" alt="{\displaystyle value}"></span> </td> <td>is the value of the product; </td></tr> <tr> <td> </td> <td> </td> <td><span class="mwe-math-element"><span class="mwe-math-mathml-inline mwe-math-mathml-a11y" style="display: none;"><math xmlns="http://www.w3.org/1998/Math/MathML" alttext="{\displaystyle mp}"> <semantics> <mrow class="MJX-TeXAtom-ORD"> <mstyle displaystyle="true" scriptlevel="0"> <mi>m</mi> <mi>p</mi> </mstyle> </mrow> <annotation encoding="application/x-tex">{\displaystyle mp}</annotation> </semantics> </math></span><img src="https://wikimedia.org/api/rest_v1/media/math/render/svg/f387b05b47b22968f00811a86433babe62568413" class="mwe-math-fallback-image-inline mw-invert skin-invert" aria-hidden="true" style="vertical-align: -0.671ex; width:3.21ex; height:2.009ex;" alt="{\displaystyle mp}"></span> </td> <td>is the value of the means of production; </td></tr> <tr> <td> </td> <td> </td> <td><span class="mwe-math-element"><span class="mwe-math-mathml-inline mwe-math-mathml-a11y" style="display: none;"><math xmlns="http://www.w3.org/1998/Math/MathML" alttext="{\displaystyle lt}"> <semantics> <mrow class="MJX-TeXAtom-ORD"> <mstyle displaystyle="true" scriptlevel="0"> <mi>l</mi> <mi>t</mi> </mstyle> </mrow> <annotation encoding="application/x-tex">{\displaystyle lt}</annotation> </semantics> </math></span><img src="https://wikimedia.org/api/rest_v1/media/math/render/svg/75095c108f0e47b8d75aea526a690f3c9213c202" class="mwe-math-fallback-image-inline mw-invert skin-invert" aria-hidden="true" style="vertical-align: -0.338ex; width:1.533ex; height:2.176ex;" alt="{\displaystyle lt}"></span> </td> <td>is the labour time. </td></tr></tbody></table> <div class="mw-heading mw-heading3"><h3 id="Labor_theory_of_value">Labor theory of value</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Marxian_economics&action=edit&section=7" title="Edit section: Labor theory of value"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>The <a href="/wiki/Labor_theory_of_value" title="Labor theory of value">labour theory of value</a> was initially introduced by the classical economists <a href="/wiki/Adam_Smith" title="Adam Smith">Adam Smith</a> and <a href="/wiki/David_Ricardo" title="David Ricardo">David Ricardo</a>, but was further developed in Marx's work <i><a href="/wiki/Das_Kapital" title="Das Kapital">Capital</a>.</i> According to the <a href="/wiki/Labor_theory_of_value" title="Labor theory of value">labour theory of value</a>, the value of a commodity equals the socially necessary labour time required to produce it. </p><p>The value of commodities is divided into two categories: <a href="/wiki/Use_value" title="Use value">use-value</a> and <a href="/wiki/Exchange_value" title="Exchange value">exchange-value</a>. <a href="/wiki/Use_value" title="Use value">Use-value</a> is the usefulness of a commodity. Exchange-value is the proportion by which use-values of one kind are exchanged for use-values of other kinds. However, since the exchange-values are not arbitrary, there must be a common unit by which the goods can be equated. When the unique use-values of the goods are removed, the only value left is the labour time necessary to produce the commodity.<sup id="cite_ref-14" class="reference"><a href="#cite_note-14"><span class="cite-bracket">[</span>14<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="Abstract_labor">Abstract labor</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Marxian_economics&action=edit&section=8" title="Edit section: Abstract labor"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Marx's theory of value differs from the classical view in his definition of labor. Marx separates it into two different types: concrete and <a href="/wiki/Abstract_labour_and_concrete_labour" title="Abstract labour and concrete labour">abstract labor</a>.<sup id="cite_ref-:1_15-0" class="reference"><a href="#cite_note-:1-15"><span class="cite-bracket">[</span>15<span class="cite-bracket">]</span></a></sup> Concrete labor can be thought of as the unique characteristics of labor such as the work of a farmer versus a tailor. Abstract labor, on the other hand, is the general conceptualization of human labor.<sup id="cite_ref-:23_16-0" class="reference"><a href="#cite_note-:23-16"><span class="cite-bracket">[</span>16<span class="cite-bracket">]</span></a></sup> It represents the expenditure of simple human labor power.<sup id="cite_ref-:1_15-1" class="reference"><a href="#cite_note-:1-15"><span class="cite-bracket">[</span>15<span class="cite-bracket">]</span></a></sup> Concrete labor produces qualitatively different commodities; however, in order to equalize and compare the values of qualitatively different commodities quantitatively, their value must be measured in terms of abstract labor.<sup id="cite_ref-:23_16-1" class="reference"><a href="#cite_note-:23-16"><span class="cite-bracket">[</span>16<span class="cite-bracket">]</span></a></sup> Abstract labor is the basic unit of value and is basis for Marx's labor theory of value.<sup id="cite_ref-:1_15-2" class="reference"><a href="#cite_note-:1-15"><span class="cite-bracket">[</span>15<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="Surplus_value">Surplus value</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Marxian_economics&action=edit&section=9" title="Edit section: Surplus value"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>According to Marx, in capitalism, workers own their labor-power, but do not own the means of production through which they can actualize their labor power and generate use-values.<sup id="cite_ref-:23_16-2" class="reference"><a href="#cite_note-:23-16"><span class="cite-bracket">[</span>16<span class="cite-bracket">]</span></a></sup> As a result, the workers must sell their labor and are alienated from it. The capitalist takes the use-values created by the workers.<sup id="cite_ref-:23_16-3" class="reference"><a href="#cite_note-:23-16"><span class="cite-bracket">[</span>16<span class="cite-bracket">]</span></a></sup> However, the capitalist does not want these goods for their use-values, rather, he or she wants them for their exchange-values.<sup id="cite_ref-:23_16-4" class="reference"><a href="#cite_note-:23-16"><span class="cite-bracket">[</span>16<span class="cite-bracket">]</span></a></sup> According to Marx, capitalists desire profit or <a href="/wiki/Surplus_value" title="Surplus value">surplus-value</a>.<sup id="cite_ref-:23_16-5" class="reference"><a href="#cite_note-:23-16"><span class="cite-bracket">[</span>16<span class="cite-bracket">]</span></a></sup> However, no surplus value can be created naturally. The labor process simply transforms value from one form into another. Thus, according to Marx, the only way for the capitalist to gain surplus-value is by paying the workers' exchange-value, not their use-value. The difference between these two values is the surplus-value generated. </p> <div class="mw-heading mw-heading3"><h3 id="Effect_of_technical_progress">Effect of technical progress</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Marxian_economics&action=edit&section=10" title="Edit section: Effect of technical progress"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>According to Marx, the amount of actual product (i.e. use-value) that a typical worker produces in a given amount of time is the productivity of labour. It has tended to increase under capitalism. This is due to increase in the scale of enterprise, to specialisation of labour, and to the introduction of machinery. The immediate result of this is that the value of a given item tends to decrease, because the labour time necessary to produce it becomes less. </p><p>In a given amount of time, labour produces more items, but each unit has less value; the total value created per time remains the same. This means that the means of subsistence become cheaper; therefore the value of labour power or necessary labour time becomes less. If the length of the working day remains the same, this results in an increase in the surplus labour time and the rate of surplus value. </p><p>Technological advancement tends to increase the amount of capital needed to start a business, and it tends to result in an increasing preponderance of capital being spent on means of production (constant capital) as opposed to labour (variable capital). Marx called the ratio of these two kinds of capital the composition of capital. </p> <div class="mw-heading mw-heading2"><h2 id="Current_theorizing_in_Marxian_economics">Current theorizing in Marxian economics</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Marxian_economics&action=edit&section=11" title="Edit section: Current theorizing in Marxian economics"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Marxian economics has been built upon by many others, beginning almost at the moment of Marx's death. The second and third volumes of <i>Das Kapital</i> were edited by his close associate <a href="/wiki/Friedrich_Engels" title="Friedrich Engels">Friedrich Engels</a>, based on Marx's notes. Marx's <i><a href="/wiki/Theories_of_Surplus_Value" title="Theories of Surplus Value">Theories of Surplus Value</a></i> was edited by <a href="/wiki/Karl_Kautsky" title="Karl Kautsky">Karl Kautsky</a>. The Marxian value theory and the <a href="/wiki/Perron%E2%80%93Frobenius_theorem" title="Perron–Frobenius theorem">Perron–Frobenius theorem</a> on the positive <a href="/wiki/Eigenvector" class="mw-redirect" title="Eigenvector">eigenvector</a> of a <a href="/wiki/Positive_matrix" class="mw-redirect" title="Positive matrix">positive matrix</a><sup id="cite_ref-17" class="reference"><a href="#cite_note-17"><span class="cite-bracket">[</span>17<span class="cite-bracket">]</span></a></sup> are fundamental to mathematical treatments of Marxian economics. The relation between exploitation (surplus labour) and profit has been modeled with increased sophistication.<sup id="cite_ref-18" class="reference"><a href="#cite_note-18"><span class="cite-bracket">[</span>18<span class="cite-bracket">]</span></a></sup> </p><p>The Universities offering one or more courses in Marxian economics, or teach one or more economics courses on other topics from a perspective that they designate as Marxian or Marxist, include <a href="/wiki/Colorado_State_University" title="Colorado State University">Colorado State University</a>, <a href="/wiki/The_New_School_for_Social_Research" title="The New School for Social Research">The New School for Social Research</a>, <a href="/wiki/School_of_Oriental_and_African_Studies" class="mw-redirect" title="School of Oriental and African Studies">School of Oriental and African Studies</a>, <a href="/wiki/Federal_University_of_Rio_de_Janeiro" title="Federal University of Rio de Janeiro">Federal University of Rio de Janeiro</a>, <a href="/wiki/State_University_of_Campinas" title="State University of Campinas">State University of Campinas</a>, <a href="/wiki/Maastricht_University" title="Maastricht University">Maastricht University</a>, <a href="/wiki/University_of_Bremen" title="University of Bremen">University of Bremen</a>, <a href="/wiki/University_of_California,_Riverside" title="University of California, Riverside">University of California, Riverside</a>, <a href="/wiki/University_of_Leeds" title="University of Leeds">University of Leeds</a>, <a href="/wiki/University_of_Maine" title="University of Maine">University of Maine</a>, <a href="/wiki/University_of_Manchester" title="University of Manchester">University of Manchester</a>, <a href="/wiki/University_of_Massachusetts_Amherst" title="University of Massachusetts Amherst">University of Massachusetts Amherst</a>, <a href="/wiki/University_of_Massachusetts_Boston" title="University of Massachusetts Boston">University of Massachusetts Boston</a>, <a href="/wiki/University_of_Missouri%E2%80%93Kansas_City" title="University of Missouri–Kansas City">University of Missouri–Kansas City</a>, <a href="/wiki/University_of_Sheffield" title="University of Sheffield">University of Sheffield</a>, <a href="/wiki/University_of_Utah" title="University of Utah">University of Utah</a>, <a href="/wiki/University_of_Calcutta" title="University of Calcutta">University of Calcutta</a>, and <a href="/wiki/York_University" title="York University">York University</a> (Toronto).<sup id="cite_ref-19" class="reference"><a href="#cite_note-19"><span class="cite-bracket">[</span>19<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-20" class="reference"><a href="#cite_note-20"><span class="cite-bracket">[</span>20<span class="cite-bracket">]</span></a></sup> </p><p>English-language journals include <i><a href="/wiki/Capital_%26_Class" title="Capital & Class">Capital & Class</a></i>, <i><a href="/wiki/Historical_Materialism_(journal)" title="Historical Materialism (journal)">Historical Materialism</a></i>, <i><a href="/wiki/Monthly_Review" title="Monthly Review">Monthly Review</a></i>, <i><a href="/wiki/Rethinking_Marxism" title="Rethinking Marxism">Rethinking Marxism</a></i>, <i><a href="/wiki/Review_of_Radical_Political_Economics" title="Review of Radical Political Economics">Review of Radical Political Economics</a></i>, and <i>Studies in Political Economy.</i> </p> <div class="mw-heading mw-heading2"><h2 id="Criticism">Criticism</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Marxian_economics&action=edit&section=12" title="Edit section: Criticism"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/Criticism_of_Marxism" title="Criticism of Marxism">Criticism of Marxism</a></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">See also: <a href="/wiki/Criticisms_of_the_labour_theory_of_value" title="Criticisms of the labour theory of value">Criticisms of the labour theory of value</a> and <a href="/wiki/Criticism_of_socialism" title="Criticism of socialism">Criticism of socialism</a></div><p>Much of the critique of classical Marxian economics came from Marxian economists that revised Marx's original theory, or by the <a href="/wiki/Austrian_School" class="mw-redirect" title="Austrian School">Austrian School</a> of economics. V. K. Dmitriev, writing in 1898,<sup id="cite_ref-21" class="reference"><a href="#cite_note-21"><span class="cite-bracket">[</span>21<span class="cite-bracket">]</span></a></sup> <a href="/wiki/Ladislaus_Bortkiewicz" title="Ladislaus Bortkiewicz">Ladislaus von Bortkiewicz</a>, writing in 1906–07,<sup id="cite_ref-22" class="reference"><a href="#cite_note-22"><span class="cite-bracket">[</span>22<span class="cite-bracket">]</span></a></sup> and subsequent critics claimed that Marx's <a href="/wiki/Labor_theory_of_value" title="Labor theory of value">labor theory of value</a> and law of the <a href="/wiki/Tendency_of_the_rate_of_profit_to_fall" title="Tendency of the rate of profit to fall">tendency of the rate of profit to fall</a> are internally inconsistent. In other words, the critics allege that Marx drew conclusions that actually do not follow from his theoretical premises. Once these alleged errors are corrected, his conclusion that aggregate price and profit are determined by, and equal to, aggregate value and surplus value no longer holds true. This result calls into question his theory that the exploitation of workers is the sole source of profit.<sup id="cite_ref-23" class="reference"><a href="#cite_note-23"><span class="cite-bracket">[</span>23<span class="cite-bracket">]</span></a></sup> </p><p>Whether the rate of profit in capitalism has, as Marx predicted, tended to fall is a subject of debate. N. Okishio, in 1961, devised a theorem (<a href="/wiki/Okishio%27s_theorem" title="Okishio's theorem">Okishio's theorem</a>) showing that if capitalists pursue cost-cutting techniques and if the real wage does not rise, the rate of profit must rise.<sup id="cite_ref-24" class="reference"><a href="#cite_note-24"><span class="cite-bracket">[</span>24<span class="cite-bracket">]</span></a></sup> </p><p>The inconsistency allegations have been a prominent feature of Marxian economics and the debate surrounding it since the 1970s.<sup id="cite_ref-25" class="reference"><a href="#cite_note-25"><span class="cite-bracket">[</span>25<span class="cite-bracket">]</span></a></sup> </p><p>The economies of Marxist states in the 20th century have been criticized for exhibiting <a href="/w/index.php?title=Overcentralization&action=edit&redlink=1" class="new" title="Overcentralization (page does not exist)">overcentralization</a><sup id="cite_ref-26" class="reference"><a href="#cite_note-26"><span class="cite-bracket">[</span>26<span class="cite-bracket">]</span></a></sup> and <a href="/wiki/Shortage" title="Shortage">shortage</a> of goods and the prevalence of <a href="/wiki/Second_economy_of_the_Soviet_Union" title="Second economy of the Soviet Union">second economies</a> (black markets) for very basic goods, leading <a href="/wiki/J%C3%A1nos_Kornai" title="János Kornai">János Kornai</a> and colleagues to theorize these systems as chronic <a href="/wiki/Shortage_economy" title="Shortage economy">shortage economies</a>.<sup id="cite_ref-27" class="reference"><a href="#cite_note-27"><span class="cite-bracket">[</span>27<span class="cite-bracket">]</span></a></sup> While Kornai attributes some specific problems to efforts at consistency with Marxian methodological principles,<sup id="cite_ref-28" class="reference"><a href="#cite_note-28"><span class="cite-bracket">[</span>28<span class="cite-bracket">]</span></a></sup> and others have proposed economic planning schemes that do directly employ Marxian concepts such as labor content,<sup id="cite_ref-29" class="reference"><a href="#cite_note-29"><span class="cite-bracket">[</span>29<span class="cite-bracket">]</span></a></sup> the theory of shortage economy refers to measurable performance<sup id="cite_ref-30" class="reference"><a href="#cite_note-30"><span class="cite-bracket">[</span>30<span class="cite-bracket">]</span></a></sup> in <a href="/wiki/Planned_economy" title="Planned economy">planned economies</a> that employed a variety of models and techniques such as <a href="/wiki/Material_balance_planning" title="Material balance planning">product balances</a>, <a href="/wiki/Linear_programming" title="Linear programming">linear programming</a> and <a href="/wiki/Input-output_planning" class="mw-redirect" title="Input-output planning">input-output planning</a><sup id="cite_ref-31" class="reference"><a href="#cite_note-31"><span class="cite-bracket">[</span>31<span class="cite-bracket">]</span></a></sup> and not to Marxian economic theory. <a href="/wiki/Paul_Dembinski" title="Paul Dembinski">Dembinski</a> argued Marx's determination of "labor value", a central concept in the labor theory of value, was inconsistent, and if accurately assessed in these economies helps explain their decline.<sup id="cite_ref-:02_32-0" class="reference"><a href="#cite_note-:02-32"><span class="cite-bracket">[</span>32<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="Relevance_in_economics">Relevance in economics</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Marxian_economics&action=edit&section=13" title="Edit section: Relevance in economics"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>According to economists such as <a href="/wiki/George_Stigler" title="George Stigler">George Stigler</a> and <a href="/wiki/Robert_Solow" title="Robert Solow">Robert Solow</a> in 1988, Marxist economics are not relevant to English-speaking economics, having "virtually no impact",<sup id="cite_ref-:2_5-1" class="reference"><a href="#cite_note-:2-5"><span class="cite-bracket">[</span>5<span class="cite-bracket">]</span></a></sup> only "represent a small minority of modern economists"<sup id="cite_ref-Stigler17322_6-1" class="reference"><a href="#cite_note-Stigler17322-6"><span class="cite-bracket">[</span>6<span class="cite-bracket">]</span></a></sup> and are "an irrelevant dead end."<sup id="cite_ref-33" class="reference"><a href="#cite_note-33"><span class="cite-bracket">[</span>33<span class="cite-bracket">]</span></a></sup> </p><p>Professor Jonathon Sperber says some elements, such as <a href="/wiki/Base_and_superstructure" title="Base and superstructure">base and superstructure</a>, exploitation of workers within the <a href="/wiki/Free_market" title="Free market">free market</a>, and crises of capitalism (such as boom and <a href="/wiki/Recession" title="Recession">bust</a> cycles), remain salient today, albeit with contemporary updates, while others he sees as less relevant, such as the <a href="/wiki/Labor_theory_of_value" title="Labor theory of value">labor theory of value</a> and <a href="/wiki/Tendency_of_the_rate_of_profit_to_fall" title="Tendency of the rate of profit to fall">the tendency of the rate of profit to fall</a>.<sup id="cite_ref-34" class="reference"><a href="#cite_note-34"><span class="cite-bracket">[</span>34<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="Neo-Marxian_economics">Neo-Marxian economics</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Marxian_economics&action=edit&section=14" title="Edit section: Neo-Marxian economics"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">See also: <a href="/wiki/Neo-Marxian_economics" class="mw-redirect" title="Neo-Marxian economics">Neo-Marxian economics</a> and <a href="/wiki/Neo-Marxism" title="Neo-Marxism">Neo-Marxism</a></div><p>The terms "neo-Marxian", "post-Marxian", and "radical political economics" were first used to refer to a distinct tradition of <a href="/wiki/Economic_theory" class="mw-redirect" title="Economic theory">economic theory</a> in the 1970s and 1980s that stems from Marxian economic thought. Many of the leading figures were associated with the <a href="/wiki/Left_politics" class="mw-redirect" title="Left politics">leftist</a> <i><a href="/wiki/Monthly_Review" title="Monthly Review">Monthly Review</a></i> School. The neo-Marxist approach to <a href="/wiki/Development_economics" title="Development economics">development economics</a> is connected with <a href="/wiki/Dependency_theory" title="Dependency theory">dependency</a> and <a href="/wiki/World-systems_theory" title="World-systems theory">world systems</a> theories. In these cases, the '<a href="/wiki/Exploitation_(Marxism)" class="mw-redirect" title="Exploitation (Marxism)">exploitation</a>' that classifies it as Marxist is an external one, rather than the normal 'internal' exploitation of <a href="/wiki/Classical_Marxism" title="Classical Marxism">classical Marxism</a>.<sup id="cite_ref-35" class="reference"><a href="#cite_note-35"><span class="cite-bracket">[</span>35<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-36" class="reference"><a href="#cite_note-36"><span class="cite-bracket">[</span>36<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-:22_37-0" class="reference"><a href="#cite_note-:22-37"><span class="cite-bracket">[</span>37<span class="cite-bracket">]</span></a></sup> </p><p>In <a href="/wiki/Industrial_economics" class="mw-redirect" title="Industrial economics">industrial economics</a>, the neo-Marxian approach stresses the <a href="/wiki/Monopoly_(economics)" class="mw-redirect" title="Monopoly (economics)">monopolistic</a> and <a href="/wiki/Oligarchy" title="Oligarchy">oligarchical</a> rather than the <a href="/wiki/Competitive_capitalism" class="mw-redirect" title="Competitive capitalism">competitive</a> nature of <a href="/wiki/Capitalism" title="Capitalism">capitalism</a>.<sup id="cite_ref-:22_37-1" class="reference"><a href="#cite_note-:22-37"><span class="cite-bracket">[</span>37<span class="cite-bracket">]</span></a></sup> This approach is associated with <a href="/wiki/Micha%C5%82_Kalecki" title="Michał Kalecki">Michał Kalecki</a>, <a href="/wiki/Josef_Steindl" title="Josef Steindl">Josef Steindl</a>, <a href="/wiki/Paul_A._Baran" title="Paul A. Baran">Paul A. Baran</a> and <a href="/wiki/Paul_Sweezy" title="Paul Sweezy">Paul Sweezy</a>.<sup id="cite_ref-38" class="reference"><a href="#cite_note-38"><span class="cite-bracket">[</span>38<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-:22_37-2" class="reference"><a href="#cite_note-:22-37"><span class="cite-bracket">[</span>37<span class="cite-bracket">]</span></a></sup> </p><p>Such theorists as <a href="/wiki/Marc_Fleurbaey" title="Marc Fleurbaey">Marc Fleurbaey</a>, <a href="/wiki/Samuel_Bowles_(economist)" title="Samuel Bowles (economist)">Samuel Bowles</a>,<sup id="cite_ref-39" class="reference"><a href="#cite_note-39"><span class="cite-bracket">[</span>39<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-40" class="reference"><a href="#cite_note-40"><span class="cite-bracket">[</span>40<span class="cite-bracket">]</span></a></sup> <a href="/wiki/David_Gordon_(economist)" title="David Gordon (economist)">David Gordon</a>, <a href="/wiki/John_Roemer" title="John Roemer">John Roemer</a>, <a href="/wiki/Herbert_Gintis" title="Herbert Gintis">Herbert Gintis</a>, <a href="/wiki/Jon_Elster" title="Jon Elster">Jon Elster</a>, and <a href="/wiki/Adam_Przeworski" title="Adam Przeworski">Adam Przeworski</a> have adopted the techniques of <a href="/wiki/Neoclassical_economics" title="Neoclassical economics">neoclassical economics</a>, including <a href="/wiki/Game_theory" title="Game theory">game theory</a> and mathematical modeling, to demonstrate Marxian concepts such as exploitation and <a href="/wiki/Class_conflict" title="Class conflict">class conflict</a>.<sup id="cite_ref-41" class="reference"><a href="#cite_note-41"><span class="cite-bracket">[</span>41<span class="cite-bracket">]</span></a></sup> </p><p>The neo-Marxian approach integrated non-Marxist or "bourgeois" economics from the <a href="/wiki/Post-Keynesian_economics" title="Post-Keynesian economics">post-Keynesians</a> like <a href="/wiki/Joan_Robinson" title="Joan Robinson">Joan Robinson</a> and the <a href="/wiki/Neo-Ricardianism" title="Neo-Ricardianism">neo-Ricardian</a> school of <a href="/wiki/Piero_Sraffa" title="Piero Sraffa">Piero Sraffa</a>. Polish economists <a href="/wiki/Micha%C5%82_Kalecki" title="Michał Kalecki">Michał Kalecki</a>, <a href="/wiki/Rosa_Luxemburg" title="Rosa Luxemburg">Rosa Luxemburg</a>, <a href="/wiki/Henryk_Grossman" title="Henryk Grossman">Henryk Grossman</a>, <a href="/wiki/Adam_Przeworski" title="Adam Przeworski">Adam Przeworski</a>, and <a href="/wiki/Oskar_R._Lange" title="Oskar R. Lange">Oskar Lange</a> were influential in this school, particularly in developing theories of <a href="/wiki/Underconsumption" title="Underconsumption">underconsumption</a>. While most official <a href="/wiki/Communism" title="Communism">communist</a> parties denounced neo-Marxian theories as "bourgeois economics," some neo-Marxians served as advisers to socialist or Third World developing governments. Neo-marxist theories were also influential in the study of <a href="/wiki/Theory_of_imperialism" class="mw-redirect" title="Theory of imperialism">Imperialism</a>. </p><p>Among the critics pointing out internal inconsistencies are former and current Marxian and/or Sraffian economists, such as <a href="/wiki/Paul_Sweezy" title="Paul Sweezy">Paul Sweezy</a>,<sup id="cite_ref-42" class="reference"><a href="#cite_note-42"><span class="cite-bracket">[</span>42<span class="cite-bracket">]</span></a></sup> <a href="/wiki/Nobuo_Okishio" title="Nobuo Okishio">Nobuo Okishio</a>,<sup id="cite_ref-43" class="reference"><a href="#cite_note-43"><span class="cite-bracket">[</span>43<span class="cite-bracket">]</span></a></sup> <a href="/wiki/Ian_Steedman" title="Ian Steedman">Ian Steedman</a>,<sup id="cite_ref-44" class="reference"><a href="#cite_note-44"><span class="cite-bracket">[</span>44<span class="cite-bracket">]</span></a></sup> <a href="/wiki/John_Roemer" title="John Roemer">John Roemer</a>,<sup id="cite_ref-45" class="reference"><a href="#cite_note-45"><span class="cite-bracket">[</span>45<span class="cite-bracket">]</span></a></sup> Gary Mongiovi,<sup id="cite_ref-46" class="reference"><a href="#cite_note-46"><span class="cite-bracket">[</span>46<span class="cite-bracket">]</span></a></sup> and <a href="/wiki/David_Laibman" title="David Laibman">David Laibman</a>,<sup id="cite_ref-47" class="reference"><a href="#cite_note-47"><span class="cite-bracket">[</span>47<span class="cite-bracket">]</span></a></sup> who propose that the field be grounded in their correct versions of Marxian economics instead of in Marx's critique of political economy in the original form in which he presented and developed it in <i>Capital</i>.<sup id="cite_ref-FOOTNOTEKliman2006210–211_48-0" class="reference"><a href="#cite_note-FOOTNOTEKliman2006210–211-48"><span class="cite-bracket">[</span>48<span class="cite-bracket">]</span></a></sup> </p><p>Proponents of the <a href="/wiki/Temporal_single-system_interpretation" title="Temporal single-system interpretation">temporal single-system interpretation</a> (TSSI) of Marx's value theory claim that the supposed inconsistencies are actually the result of misinterpretation; they argue that when Marx's theory is understood as "temporal" and "single-system," the alleged internal inconsistencies disappear. In a recent survey of the debate, a proponent of the TSSI concludes that "the <i>proofs</i> of inconsistency are no longer defended; the entire case against Marx has been reduced to the <i>interpretive</i> issue."<sup id="cite_ref-FOOTNOTEKliman2006208_49-0" class="reference"><a href="#cite_note-FOOTNOTEKliman2006208-49"><span class="cite-bracket">[</span>49<span class="cite-bracket">]</span></a></sup> </p><p>Despite being an orthodox Marxist economist, <a href="/wiki/Maurice_Dobb" title="Maurice Dobb">Maurice Dobb</a> was also associated with this current. </p> <div class="mw-heading mw-heading3"><h3 id="Concepts">Concepts</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Marxian_economics&action=edit&section=15" title="Edit section: Concepts"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p><a href="/wiki/Big_business" title="Big business">Big business</a> can maintain selling prices at high levels while still competing to cut costs, advertise and market their products. However, competition is generally limited with a few large capital formations sharing various markets, with the exception of a few actual monopolies (such as the <a href="/wiki/Bell_System" title="Bell System">Bell System</a> at the time). The <a href="/wiki/Economic_surplus" title="Economic surplus">economic surpluses</a> that result cannot be absorbed through consumers spending more. The concentration of the surplus in the hands of the business elite must therefore be geared towards <a href="/wiki/Imperialism" title="Imperialism">imperialistic</a> and <a href="/wiki/Militarism" title="Militarism">militaristic</a> government tendencies, which is the easiest and surest way to utilise <a href="/wiki/Surplus_product" title="Surplus product">surplus productive capacity</a>. </p><p><a href="/wiki/Exploitation_of_labour" title="Exploitation of labour">Exploitation</a> focuses on low wage workers and groups at home, especially minorities. Average earners see the pressures in drive for production destroy their human relationships, leading to wider alienation and hostility. The whole system is largely irrational since though individuals may make rational decisions, the ultimate systemic goals are not. The system continues to function so long as <a href="/wiki/Keynesian_economics" title="Keynesian economics">Keynesian</a> full employment policies are pursued, but there is the continued threat to stability from less-developed countries throwing off the restraints of neo-colonial domination. </p> <div class="mw-heading mw-heading4"><h4 id="Labor_theory_of_value_2">Labor theory of value</h4><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Marxian_economics&action=edit&section=16" title="Edit section: Labor theory of value"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p><a href="/wiki/Paul_A._Baran" title="Paul A. Baran">Paul A. Baran</a> introduced the concept of potential <i><a href="/wiki/Economic_surplus" title="Economic surplus">economic surplus</a></i> to deal with novel complexities raised by the dominance of <a href="/wiki/Monopoly_Capital" title="Monopoly Capital">monopoly capital</a>, in particular the theoretical prediction that monopoly capitalism would be associated with low capacity utilization, and hence potential surplus would typically be much larger than the realized surplus. With <a href="/wiki/Paul_Sweezy" title="Paul Sweezy">Paul Sweezy</a>, Baran elaborated the importance of this innovation, its consistency with Marx's labor concept of <a href="/wiki/Value-form" title="Value-form">value</a> and supplementary relation to Marx's category of <a href="/wiki/Surplus_value" title="Surplus value">surplus value</a>.<sup id="cite_ref-50" class="reference"><a href="#cite_note-50"><span class="cite-bracket">[</span>50<span class="cite-bracket">]</span></a></sup> </p><p>According to Baran's categories: </p> <ul><li>Actual economic surplus: "the difference between what society's actual current output and its actual current consumption." Hence, it is equal to current savings or accumulation.</li> <li>Potential economic surplus: "the difference between that output that could be produced in a given natural and technical environment with the help of employable productive resources, and what might be regarded as essential consumption."</li></ul> <p>Baran also introduced the concept of planned surplus—a category that could only be operationalized in a rationally planned <a href="/wiki/Socialist_mode_of_production" title="Socialist mode of production">socialist</a> society. This was defined as "the difference between society's 'optimum' output available in a historically given natural and technological environment under conditions of planned 'optimal' utilization of all available productive resources, and some chosen 'optimal' volume of consumption."<sup id="cite_ref-:3_51-0" class="reference"><a href="#cite_note-:3-51"><span class="cite-bracket">[</span>51<span class="cite-bracket">]</span></a></sup> </p><p>Baran used the surplus concept to analyze underdeveloped economies (or what are now more optimistically called "developing economies") in his <i>Political Economy of Growth</i>.<sup id="cite_ref-:3_51-1" class="reference"><a href="#cite_note-:3-51"><span class="cite-bracket">[</span>51<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="See_also">See also</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Marxian_economics&action=edit&section=17" title="Edit section: See also"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1184024115">.mw-parser-output .div-col{margin-top:0.3em;column-width:30em}.mw-parser-output .div-col-small{font-size:90%}.mw-parser-output .div-col-rules{column-rule:1px solid #aaa}.mw-parser-output .div-col dl,.mw-parser-output .div-col ol,.mw-parser-output .div-col ul{margin-top:0}.mw-parser-output .div-col li,.mw-parser-output .div-col dd{page-break-inside:avoid;break-inside:avoid-column}</style><div class="div-col"> <ul><li><a href="/wiki/List_of_Marxian_economists" title="List of Marxian economists">List of Marxian economists</a></li> <li><a href="/wiki/Capitalist_mode_of_production_(Marxist_theory)" title="Capitalist mode of production (Marxist theory)">Capitalist mode of production</a></li> <li><a href="/wiki/Capital_accumulation" title="Capital accumulation">Capital accumulation</a></li> <li><a href="/wiki/Evolutionary_economics" title="Evolutionary economics">Evolutionary economics</a></li> <li><a href="/wiki/Surplus_labour" title="Surplus labour">Surplus labour</a></li> <li><a href="/wiki/Labor_power" class="mw-redirect" title="Labor power">Labour power</a></li> <li><a href="/wiki/Law_of_value" title="Law of value">Law of value</a></li> <li><a href="/wiki/Unequal_exchange" title="Unequal exchange">Unequal exchange</a></li> <li><a href="/wiki/Value_product" title="Value product">Value product</a></li> <li><a href="/wiki/Productive_and_unproductive_labour" title="Productive and unproductive labour">Productive and unproductive labour</a></li> <li><a href="/wiki/Regulation_school" title="Regulation school">Regulation school</a></li> <li><a href="/wiki/Socialist_economics" title="Socialist economics">Socialist economics</a></li> <li><i><a href="/wiki/The_Accumulation_of_Capital" title="The Accumulation of Capital">The Accumulation of Capital</a></i></li> <li><a href="/wiki/Material_product" class="mw-redirect" title="Material product">Material product</a></li> <li><a href="/wiki/Critique_of_political_economy" title="Critique of political economy">Critique of political economy</a></li></ul></div> <div class="mw-heading mw-heading2"><h2 id="References">References</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Marxian_economics&action=edit&section=18" title="Edit section: References"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1239543626">.mw-parser-output .reflist{margin-bottom:0.5em;list-style-type:decimal}@media screen{.mw-parser-output .reflist{font-size:90%}}.mw-parser-output .reflist .references{font-size:100%;margin-bottom:0;list-style-type:inherit}.mw-parser-output .reflist-columns-2{column-width:30em}.mw-parser-output .reflist-columns-3{column-width:25em}.mw-parser-output .reflist-columns{margin-top:0.3em}.mw-parser-output .reflist-columns ol{margin-top:0}.mw-parser-output .reflist-columns li{page-break-inside:avoid;break-inside:avoid-column}.mw-parser-output .reflist-upper-alpha{list-style-type:upper-alpha}.mw-parser-output .reflist-upper-roman{list-style-type:upper-roman}.mw-parser-output .reflist-lower-alpha{list-style-type:lower-alpha}.mw-parser-output .reflist-lower-greek{list-style-type:lower-greek}.mw-parser-output .reflist-lower-roman{list-style-type:lower-roman}</style><div class="reflist reflist-columns references-column-width" style="column-width: 30em;"> <ol class="references"> <li id="cite_note-1"><span class="mw-cite-backlink"><b><a href="#cite_ref-1">^</a></b></span> <span class="reference-text"><style data-mw-deduplicate="TemplateStyles:r1238218222">.mw-parser-output cite.citation{font-style:inherit;word-wrap:break-word}.mw-parser-output .citation q{quotes:"\"""\"""'""'"}.mw-parser-output .citation:target{background-color:rgba(0,127,255,0.133)}.mw-parser-output .id-lock-free.id-lock-free a{background:url("//upload.wikimedia.org/wikipedia/commons/6/65/Lock-green.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-limited.id-lock-limited a,.mw-parser-output .id-lock-registration.id-lock-registration a{background:url("//upload.wikimedia.org/wikipedia/commons/d/d6/Lock-gray-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-subscription.id-lock-subscription a{background:url("//upload.wikimedia.org/wikipedia/commons/a/aa/Lock-red-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .cs1-ws-icon a{background:url("//upload.wikimedia.org/wikipedia/commons/4/4c/Wikisource-logo.svg")right 0.1em center/12px no-repeat}body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-free a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-limited a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-registration a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-subscription a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .cs1-ws-icon a{background-size:contain;padding:0 1em 0 0}.mw-parser-output .cs1-code{color:inherit;background:inherit;border:none;padding:inherit}.mw-parser-output .cs1-hidden-error{display:none;color:var(--color-error,#d33)}.mw-parser-output .cs1-visible-error{color:var(--color-error,#d33)}.mw-parser-output .cs1-maint{display:none;color:#085;margin-left:0.3em}.mw-parser-output .cs1-kern-left{padding-left:0.2em}.mw-parser-output .cs1-kern-right{padding-right:0.2em}.mw-parser-output .citation .mw-selflink{font-weight:inherit}@media screen{.mw-parser-output .cs1-format{font-size:95%}html.skin-theme-clientpref-night .mw-parser-output .cs1-maint{color:#18911f}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .cs1-maint{color:#18911f}}</style><cite id="CITEREFWolffResnick1987" class="citation book cs1"><a href="/w/index.php?title=Richard_D._Wolf&action=edit&redlink=1" class="new" title="Richard D. Wolf (page does not exist)">Wolff, Richard</a>; <a href="/wiki/Stephen_A._Resnick" class="mw-redirect" title="Stephen A. Resnick">Resnick, Stephen</a> (August 1987). <span class="id-lock-registration" title="Free registration required"><a rel="nofollow" class="external text" href="https://archive.org/details/economicsmarxian00wolf_0"><i>Economics: Marxian versus Neoclassical</i></a></span>. <a href="/wiki/Johns_Hopkins_University_Press" title="Johns Hopkins University Press">Johns Hopkins University Press</a>. p. <a rel="nofollow" class="external text" href="https://archive.org/details/economicsmarxian00wolf_0/page/130">130</a>. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/0801834805" title="Special:BookSources/0801834805"><bdi>0801834805</bdi></a>. <q>Marxian theory (singular) gave way to Marxian theories (plural).</q></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Economics%3A+Marxian+versus+Neoclassical&rft.pages=130&rft.pub=Johns+Hopkins+University+Press&rft.date=1987-08&rft.isbn=0801834805&rft.aulast=Wolff&rft.aufirst=Richard&rft.au=Resnick%2C+Stephen&rft_id=https%3A%2F%2Farchive.org%2Fdetails%2Feconomicsmarxian00wolf_0&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMarxian+economics" class="Z3988"></span></span> </li> <li id="cite_note-2"><span class="mw-cite-backlink"><b><a href="#cite_ref-2">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://web.archive.org/web/20080429202643/http://cepa.newschool.edu/het/schools/neomarx.htm">"The Neo-Marxian blood Schools"</a>. <a href="/wiki/The_New_School" title="The New School">The New School</a>. Archived from <a rel="nofollow" class="external text" href="http://cepa.newschool.edu/het/schools/neomarx.htm">the original</a> on 2008-04-29<span class="reference-accessdate">. Retrieved <span class="nowrap">2007-08-23</span></span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=The+Neo-Marxian+blood+Schools&rft.pub=The+New+School&rft_id=http%3A%2F%2Fcepa.newschool.edu%2Fhet%2Fschools%2Fneomarx.htm&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMarxian+economics" class="Z3988"></span></span> </li> <li id="cite_note-3"><span class="mw-cite-backlink"><b><a href="#cite_ref-3">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFMunro" class="citation web cs1">Munro, John. <a rel="nofollow" class="external text" href="http://www.economics.utoronto.ca/munro5/MARXECON.pdf">"Some Basic Principles of Marxian Economics"</a> <span class="cs1-format">(PDF)</span>. <a href="/wiki/University_of_Toronto" title="University of Toronto">University of Toronto</a><span class="reference-accessdate">. Retrieved <span class="nowrap">2007-08-23</span></span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Some+Basic+Principles+of+Marxian+Economics&rft.pub=University+of+Toronto&rft.aulast=Munro&rft.aufirst=John&rft_id=http%3A%2F%2Fwww.economics.utoronto.ca%2Fmunro5%2FMARXECON.pdf&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMarxian+economics" class="Z3988"></span></span> </li> <li id="cite_note-4"><span class="mw-cite-backlink"><b><a href="#cite_ref-4">^</a></b></span> <span class="reference-text">Described in <a href="/wiki/Duncan_Foley" class="mw-redirect" title="Duncan Foley">Duncan Foley</a> and Gérard Duménil, 2008, "Marx's analysis of capitalist production," <i><a href="/wiki/The_New_Palgrave_Dictionary_of_Economics" title="The New Palgrave Dictionary of Economics">The New Palgrave Dictionary of Economics</a></i>, 2nd Edition. <a rel="nofollow" class="external text" href="http://www.dictionaryofeconomics.com/article?id=pde2008_M000399&edition">Abstract.</a></span> </li> <li id="cite_note-:2-5"><span class="mw-cite-backlink">^ <a href="#cite_ref-:2_5-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-:2_5-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text">Robert M. Solow, "The Wide, Wide World of Wealth, "<i>New York Times</i>, March 28, 1988, <a rel="nofollow" class="external text" href="https://www.nytimes.com/1988/03/20/books/the-wide-wide-world-of-wealth.html?pagewanted=2&src=pm">excerpt</a> (from a review of <i><a href="/wiki/The_New_Palgrave:_A_Dictionary_of_Economics" class="mw-redirect" title="The New Palgrave: A Dictionary of Economics">The New Palgrave: A Dictionary of Economics</a></i>, 1987).</span> </li> <li id="cite_note-Stigler17322-6"><span class="mw-cite-backlink">^ <a href="#cite_ref-Stigler17322_6-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-Stigler17322_6-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFStigler1988" class="citation journal cs1"><a href="/wiki/George_Stigler" title="George Stigler">Stigler, George J.</a> (December 1988). "Palgrave's Dictionary of Economics". <i><a href="/wiki/Journal_of_Economic_Literature" title="Journal of Economic Literature">Journal of Economic Literature</a></i>. <b>26</b> (4). <a href="/wiki/American_Economic_Association" title="American Economic Association">American Economic Association</a>: 1729–36. <a href="/wiki/JSTOR_(identifier)" class="mw-redirect" title="JSTOR (identifier)">JSTOR</a> <a rel="nofollow" class="external text" href="https://www.jstor.org/stable/2726859">2726859</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Journal+of+Economic+Literature&rft.atitle=Palgrave%27s+Dictionary+of+Economics&rft.volume=26&rft.issue=4&rft.pages=1729-36&rft.date=1988-12&rft_id=https%3A%2F%2Fwww.jstor.org%2Fstable%2F2726859%23id-name%3DJSTOR&rft.aulast=Stigler&rft.aufirst=George+J.&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMarxian+economics" class="Z3988"></span></span> </li> <li id="cite_note-7"><span class="mw-cite-backlink"><b><a href="#cite_ref-7">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFSchefold1992" class="citation book cs1">Schefold, Bertram (1992). <i>The Relation between the Rate of Profit and the Rate of Interest: A Reassessment after the Publication of Marx's Manuscript of the Third Volume of Das Kapital</i>. Springer Link. pp. 127–129.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=The+Relation+between+the+Rate+of+Profit+and+the+Rate+of+Interest%3A+A+Reassessment+after+the+Publication+of+Marx%27s+Manuscript+of+the+Third+Volume+of+Das+Kapital&rft.pages=127-129&rft.pub=Springer+Link&rft.date=1992&rft.aulast=Schefold&rft.aufirst=Bertram&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMarxian+economics" class="Z3988"></span></span> </li> <li id="cite_note-:0-8"><span class="mw-cite-backlink">^ <a href="#cite_ref-:0_8-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-:0_8-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFDembinsky1991" class="citation book cs1">Dembinsky, Pawel H. (1991). <i>The Logic of The Planned Economy</i>. Oxford: Clarendon Press. pp. 22–23. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/0198286864" title="Special:BookSources/0198286864"><bdi>0198286864</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=The+Logic+of+The+Planned+Economy&rft.place=Oxford&rft.pages=22-23&rft.pub=Clarendon+Press&rft.date=1991&rft.isbn=0198286864&rft.aulast=Dembinsky&rft.aufirst=Pawel+H.&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMarxian+economics" class="Z3988"></span></span> </li> <li id="cite_note-Heilbroner_2000_164-9"><span class="mw-cite-backlink"><b><a href="#cite_ref-Heilbroner_2000_164_9-0">^</a></b></span> <span class="reference-text"><a href="#CITEREFHeilbroner2000">Heilbroner 2000</a>, p. 164.</span> </li> <li id="cite_note-Scre&Zam_2005_474-10"><span class="mw-cite-backlink"><b><a href="#cite_ref-Scre&Zam_2005_474_10-0">^</a></b></span> <span class="reference-text"><a href="#CITEREFScrepantiZamagni2005">Screpanti & Zamagni 2005</a>, p. 474.</span> </li> <li id="cite_note-11"><span class="mw-cite-backlink"><b><a href="#cite_ref-11">^</a></b></span> <span class="reference-text">See <a href="/wiki/Helmut_Reichelt" title="Helmut Reichelt">Helmut Reichelt</a>, quoted in: Kubota, Ken: <i>Die dialektische Darstellung des allgemeinen Begriffs des Kapitals im Lichte der Philosophie <a href="/wiki/Georg_Wilhelm_Friedrich_Hegel" title="Georg Wilhelm Friedrich Hegel">Hegels</a>. Zur logischen Analyse der politischen Ökonomie unter besonderer Berücksichtigung <a href="/wiki/Theodor_W._Adorno" title="Theodor W. Adorno">Adornos</a> und der Forschungsergebnisse von <a href="/wiki/Isaak_Illich_Rubin" title="Isaak Illich Rubin">Rubin</a>, <a href="/wiki/Hans-Georg_Backhaus" title="Hans-Georg Backhaus">Backhaus</a>, <a href="/wiki/Helmut_Reichelt" title="Helmut Reichelt">Reichelt</a>, <a href="/wiki/Kozo_Uno" title="Kozo Uno">Uno</a> und <a href="/wiki/Thomas_T._Sekine" title="Thomas T. Sekine">Sekine</a></i> <a rel="nofollow" class="external text" href="https://eulederminerva.de/files/kapital.pdf">(PDF)</a>, in: Beiträge zur Marx-Engels-Forschung. Neue Folge 2009, pp. 199–224, <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.4444%2F100.100.de">10.4444/100.100.de</a>, here p. 199.</span> </li> <li id="cite_note-12"><span class="mw-cite-backlink"><b><a href="#cite_ref-12">^</a></b></span> <span class="reference-text">Angus Maddison, <i>Phases of Capitalist Development.</i> Oxford, 1982. p. 256, note.</span> </li> <li id="cite_note-13"><span class="mw-cite-backlink"><b><a href="#cite_ref-13">^</a></b></span> <span class="reference-text">Capital, Vol I, Chap I (p. 39 in the Progress Publishers, Moscow, edition).</span> </li> <li id="cite_note-14"><span class="mw-cite-backlink"><b><a href="#cite_ref-14">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www.marxists.org/archive/marx/works/download/pdf/Capital-Volume-I.pdf">"Capital Volume 1"</a> <span class="cs1-format">(PDF)</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Capital+Volume+1&rft_id=https%3A%2F%2Fwww.marxists.org%2Farchive%2Fmarx%2Fworks%2Fdownload%2Fpdf%2FCapital-Volume-I.pdf&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMarxian+economics" class="Z3988"></span></span> </li> <li id="cite_note-:1-15"><span class="mw-cite-backlink">^ <a href="#cite_ref-:1_15-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-:1_15-1"><sup><i><b>b</b></i></sup></a> <a href="#cite_ref-:1_15-2"><sup><i><b>c</b></i></sup></a></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFFosterBurkett2018" class="citation journal cs1">Foster, John Bellamy; Burkett, Paul (2018-11-01). <a rel="nofollow" class="external text" href="https://dx.doi.org/10.14452/mr-070-06-2018-10_1">"Value Isn't Everything"</a>. <i>Monthly Review</i>: 1–17. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.14452%2Fmr-070-06-2018-10_1">10.14452/mr-070-06-2018-10_1</a>. <a href="/wiki/ISSN_(identifier)" class="mw-redirect" title="ISSN (identifier)">ISSN</a> <a rel="nofollow" class="external text" href="https://search.worldcat.org/issn/0027-0520">0027-0520</a>. <a href="/wiki/S2CID_(identifier)" class="mw-redirect" title="S2CID (identifier)">S2CID</a> <a rel="nofollow" class="external text" href="https://api.semanticscholar.org/CorpusID:150182052">150182052</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Monthly+Review&rft.atitle=Value+Isn%27t+Everything&rft.pages=1-17&rft.date=2018-11-01&rft_id=https%3A%2F%2Fapi.semanticscholar.org%2FCorpusID%3A150182052%23id-name%3DS2CID&rft.issn=0027-0520&rft_id=info%3Adoi%2F10.14452%2Fmr-070-06-2018-10_1&rft.aulast=Foster&rft.aufirst=John+Bellamy&rft.au=Burkett%2C+Paul&rft_id=http%3A%2F%2Fdx.doi.org%2F10.14452%2Fmr-070-06-2018-10_1&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMarxian+economics" class="Z3988"></span></span> </li> <li id="cite_note-:23-16"><span class="mw-cite-backlink">^ <a href="#cite_ref-:23_16-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-:23_16-1"><sup><i><b>b</b></i></sup></a> <a href="#cite_ref-:23_16-2"><sup><i><b>c</b></i></sup></a> <a href="#cite_ref-:23_16-3"><sup><i><b>d</b></i></sup></a> <a href="#cite_ref-:23_16-4"><sup><i><b>e</b></i></sup></a> <a href="#cite_ref-:23_16-5"><sup><i><b>f</b></i></sup></a></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFMarx2020" class="citation book cs1">Marx, Karl (2020). <a href="/wiki/David_McLellan_(political_scientist)" title="David McLellan (political scientist)">McLellan, David</a> (ed.). <a rel="nofollow" class="external text" href="http://worldcat.org/oclc/1237770778"><i>Capital</i></a> (abridged ed.). Oxford University Press. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0-19-192047-9" title="Special:BookSources/978-0-19-192047-9"><bdi>978-0-19-192047-9</bdi></a>. <a href="/wiki/OCLC_(identifier)" class="mw-redirect" title="OCLC (identifier)">OCLC</a> <a rel="nofollow" class="external text" href="https://search.worldcat.org/oclc/1237770778">1237770778</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Capital&rft.edition=abridged&rft.pub=Oxford+University+Press&rft.date=2020&rft_id=info%3Aoclcnum%2F1237770778&rft.isbn=978-0-19-192047-9&rft.aulast=Marx&rft.aufirst=Karl&rft_id=http%3A%2F%2Fworldcat.org%2Foclc%2F1237770778&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMarxian+economics" class="Z3988"></span></span> </li> <li id="cite_note-17"><span class="mw-cite-backlink"><b><a href="#cite_ref-17">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFFujimori1982" class="citation conference cs1">Fujimori, Y. (1982). "Modern Analysis of Value Theory". <i>Lecture Notes in Economics and Mathematical Systems</i>. Springer.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=conference&rft.atitle=Modern+Analysis+of+Value+Theory&rft.btitle=Lecture+Notes+in+Economics+and+Mathematical+Systems&rft.pub=Springer&rft.date=1982&rft.aulast=Fujimori&rft.aufirst=Y.&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMarxian+economics" class="Z3988"></span></span> </li> <li id="cite_note-18"><span class="mw-cite-backlink"><b><a href="#cite_ref-18">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFYoshihara2014" class="citation web cs1">Yoshihara, Naoki (May 14, 2014). <a rel="nofollow" class="external text" href="https://www.umass.edu/economics/publications/2014-12.pdf">"A Progressive Report on Marxian Economic Theory: On the Controversies in Exploitation Theory since Okishio (1963)"</a> <span class="cs1-format">(PDF)</span>. <i>umass.edu</i> (Working Paper). <a href="/wiki/University_of_Massachusetts" title="University of Massachusetts">University of Massachusetts</a> AMHERST.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=umass.edu&rft.atitle=A+Progressive+Report+on+Marxian+Economic+Theory%3A+On+the+Controversies+in+Exploitation+Theory+since+Okishio+%281963%29&rft.date=2014-05-14&rft.aulast=Yoshihara&rft.aufirst=Naoki&rft_id=https%3A%2F%2Fwww.umass.edu%2Feconomics%2Fpublications%2F2014-12.pdf&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMarxian+economics" class="Z3988"></span></span> </li> <li id="cite_note-19"><span class="mw-cite-backlink"><b><a href="#cite_ref-19">^</a></b></span> <span class="reference-text"><a rel="nofollow" class="external text" href="http://www.open.ac.uk/socialsciences/hetecon/schools.htm">Schools</a>. HETecon.com. Retrieved on: August 23, 2007.</span> </li> <li id="cite_note-20"><span class="mw-cite-backlink"><b><a href="#cite_ref-20">^</a></b></span> <span class="reference-text"><a rel="nofollow" class="external autonumber" href="https://heterodoxnews.com/hed/study-programs.html">[1]</a>. Heterodox Economics Directory. Retrieved on: April 28, 2023</span> </li> <li id="cite_note-21"><span class="mw-cite-backlink"><b><a href="#cite_ref-21">^</a></b></span> <span class="reference-text">V. K. Dmitriev, 1974 (1898), <i>Economic Essays on Value, Competition and Utility</i>. Cambridge: Cambridge Univ. Press.</span> </li> <li id="cite_note-22"><span class="mw-cite-backlink"><b><a href="#cite_ref-22">^</a></b></span> <span class="reference-text">Ladislaus von Bortkiewicz, 1952 (1906–1907), "Value and Price in the Marxian System", <i>International Economic Papers</i> 2, 5–60; Ladislaus von Bortkiewicz, 1984 (1907), "On the Correction of Marx's Fundamental Theoretical Construction in the Third Volume of <i>Capital</i>". In Eugen von Böhm-Bawerk 1984 (1896), <i>Karl Marx and the Close of his System</i>, Philadelphia: Orion Editions.</span> </li> <li id="cite_note-23"><span class="mw-cite-backlink"><b><a href="#cite_ref-23">^</a></b></span> <span class="reference-text">M. C. Howard and J. E. King. (1992) <i>A History of Marxian Economics: Volume II, 1929–1990</i>, chapter 12, sect. III. Princeton, NJ: <a href="/wiki/Princeton_University_Press" title="Princeton University Press">Princeton University Press</a></span> </li> <li id="cite_note-24"><span class="mw-cite-backlink"><b><a href="#cite_ref-24">^</a></b></span> <span class="reference-text">M. C. Howard and J. E. King. (1992) <i>A History of Marxian Economics: Volume II, 1929–1990</i>, chapter 7, sects. II–IV. Princeton, NJ: <a href="/wiki/Princeton_University_Press" title="Princeton University Press">Princeton University Press</a></span> </li> <li id="cite_note-25"><span class="mw-cite-backlink"><b><a href="#cite_ref-25">^</a></b></span> <span class="reference-text">See M. C. Howard and J. E. King, 1992, <i>A History of Marxian Economics: Volume II, 1929–1990</i>. Princeton, NJ: <a href="/wiki/Princeton_University_Press" title="Princeton University Press">Princeton University Press</a></span> </li> <li id="cite_note-26"><span class="mw-cite-backlink"><b><a href="#cite_ref-26">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFKornai1959" class="citation book cs1">Kornai, János (1959). <i>Overcentralization in Economic Administration: A Critical Analysis Based on Experience in Hungarian Light Industry</i>. <a href="/wiki/Oxford_University_Press" title="Oxford University Press">Oxford University Press</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Overcentralization+in+Economic+Administration%3A+A+Critical+Analysis+Based+on+Experience+in+Hungarian+Light+Industry&rft.pub=Oxford+University+Press&rft.date=1959&rft.aulast=Kornai&rft.aufirst=J%C3%A1nos&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMarxian+economics" class="Z3988"></span><sup class="noprint Inline-Template" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citing_sources" title="Wikipedia:Citing sources"><span title="This citation requires a reference to the specific page or range of pages in which the material appears. (June 2024)">page needed</span></a></i>]</sup></span> </li> <li id="cite_note-27"><span class="mw-cite-backlink"><b><a href="#cite_ref-27">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFDavisCharemza1989" class="citation book cs1">Davis, Christopher; Charemza, Wojciech, eds. (1989). <i>Models of Disequilibrium and Shortage in Centrally Planned Economies</i>. Chapman & Hall.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Models+of+Disequilibrium+and+Shortage+in+Centrally+Planned+Economies&rft.pub=Chapman+%26+Hall&rft.date=1989&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMarxian+economics" class="Z3988"></span><sup class="noprint Inline-Template" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citing_sources" title="Wikipedia:Citing sources"><span title="This citation requires a reference to the specific page or range of pages in which the material appears. (June 2024)">page needed</span></a></i>]</sup></span> </li> <li id="cite_note-28"><span class="mw-cite-backlink"><b><a href="#cite_ref-28">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFKornai1992" class="citation book cs1">Kornai, János (1992). <i>The Socialist System</i>. <a href="/wiki/Oxford_University_Press" title="Oxford University Press">Oxford University Press</a>. p. 150.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=The+Socialist+System&rft.pages=150&rft.pub=Oxford+University+Press&rft.date=1992&rft.aulast=Kornai&rft.aufirst=J%C3%A1nos&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMarxian+economics" class="Z3988"></span></span> </li> <li id="cite_note-29"><span class="mw-cite-backlink"><b><a href="#cite_ref-29">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFCockshottCottrell1993" class="citation book cs1"><a href="/wiki/Paul_Cockshott" title="Paul Cockshott">Cockshott, W. Paul</a>; Cottrell, Allin (1993). <i>Towards a New Socialism</i>. Russell Press.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Towards+a+New+Socialism&rft.pub=Russell+Press&rft.date=1993&rft.aulast=Cockshott&rft.aufirst=W.+Paul&rft.au=Cottrell%2C+Allin&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMarxian+economics" class="Z3988"></span></span> </li> <li id="cite_note-30"><span class="mw-cite-backlink"><b><a href="#cite_ref-30">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFKornai1982" class="citation book cs1">Kornai, János (1982). <i>Growth, Shortage and Efficiency</i>. <a href="/wiki/University_of_California_Press" title="University of California Press">University of California Press</a>. pp. 11–19.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Growth%2C+Shortage+and+Efficiency&rft.pages=11-19&rft.pub=University+of+California+Press&rft.date=1982&rft.aulast=Kornai&rft.aufirst=J%C3%A1nos&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMarxian+economics" class="Z3988"></span></span> </li> <li id="cite_note-31"><span class="mw-cite-backlink"><b><a href="#cite_ref-31">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFKornai1975" class="citation book cs1">Kornai, János (1975). <i>Mathematical Planning of Structural Decisions</i>. North-Holland. pp. 6, 68, 28.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Mathematical+Planning+of+Structural+Decisions&rft.pages=6%2C+68%2C+28&rft.pub=North-Holland&rft.date=1975&rft.aulast=Kornai&rft.aufirst=J%C3%A1nos&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMarxian+economics" class="Z3988"></span></span> </li> <li id="cite_note-:02-32"><span class="mw-cite-backlink"><b><a href="#cite_ref-:02_32-0">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFDembinski1991" class="citation book cs1">Dembinski, Paul H. (1991). <i>The Logic of The Planned Economy</i>. Oxford: <a href="/wiki/Clarendon_Press" class="mw-redirect" title="Clarendon Press">Clarendon Press</a>. pp. 22–23. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/0198286864" title="Special:BookSources/0198286864"><bdi>0198286864</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=The+Logic+of+The+Planned+Economy&rft.place=Oxford&rft.pages=22-23&rft.pub=Clarendon+Press&rft.date=1991&rft.isbn=0198286864&rft.aulast=Dembinski&rft.aufirst=Paul+H.&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMarxian+economics" class="Z3988"></span></span> </li> <li id="cite_note-33"><span class="mw-cite-backlink"><b><a href="#cite_ref-33">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFSolow1988" class="citation news cs1">Solow, Robert M. (March 28, 1988). <a rel="nofollow" class="external text" href="https://www.nytimes.com/1988/03/20/books/the-wide-wide-world-of-wealth.html?pagewanted=2&src=pm">"The Wide, Wide World of Wealth"</a>. <i><a href="/wiki/The_New_York_Times" title="The New York Times">The New York Times</a></i>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=The+New+York+Times&rft.atitle=The+Wide%2C+Wide+World+of+Wealth&rft.date=1988-03-28&rft.aulast=Solow&rft.aufirst=Robert+M.&rft_id=https%3A%2F%2Fwww.nytimes.com%2F1988%2F03%2F20%2Fbooks%2Fthe-wide-wide-world-of-wealth.html%3Fpagewanted%3D2%26src%3Dpm&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMarxian+economics" class="Z3988"></span></span> </li> <li id="cite_note-34"><span class="mw-cite-backlink"><b><a href="#cite_ref-34">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFSperber2013" class="citation news cs1"><a href="/wiki/Jonathan_Sperber" title="Jonathan Sperber">Sperber, Jonathan</a> (16 May 2013). <a rel="nofollow" class="external text" href="https://web.archive.org/web/20211208211516/https://www.theguardian.com/books/2013/may/16/karl-marx-ideas-resonate-today">"Is Marx still relevant?"</a>. <i><a href="/wiki/The_Guardian" title="The Guardian">The Guardian</a></i>. <a href="/wiki/ISSN_(identifier)" class="mw-redirect" title="ISSN (identifier)">ISSN</a> <a rel="nofollow" class="external text" href="https://search.worldcat.org/issn/0261-3077">0261-3077</a>. Archived from <a rel="nofollow" class="external text" href="https://www.theguardian.com/books/2013/may/16/karl-marx-ideas-resonate-today">the original</a> on 8 December 2021<span class="reference-accessdate">. Retrieved <span class="nowrap">1 October</span> 2023</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=The+Guardian&rft.atitle=Is+Marx+still+relevant%3F&rft.date=2013-05-16&rft.issn=0261-3077&rft.aulast=Sperber&rft.aufirst=Jonathan&rft_id=https%3A%2F%2Fwww.theguardian.com%2Fbooks%2F2013%2Fmay%2F16%2Fkarl-marx-ideas-resonate-today&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMarxian+economics" class="Z3988"></span></span> </li> <li id="cite_note-35"><span class="mw-cite-backlink"><b><a href="#cite_ref-35">^</a></b></span> <span class="reference-text">Foster-Carter, A. 1973. "Neo-Marxist Approaches to Development and Underdevelopment." <i><a href="/wiki/Journal_of_Contemporary_Asia" title="Journal of Contemporary Asia">Journal of Contemporary Asia</a></i> 3(1).</span> </li> <li id="cite_note-36"><span class="mw-cite-backlink"><b><a href="#cite_ref-36">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFTaylor1974" class="citation journal cs1">Taylor, John (1974). "Neo-Marxism and Underdevelopment — A Sociological Phantasy". <i><a href="/wiki/Journal_of_Contemporary_Asia" title="Journal of Contemporary Asia">Journal of Contemporary Asia</a></i>. <b>4</b> (1): 5–23.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Journal+of+Contemporary+Asia&rft.atitle=Neo-Marxism+and+Underdevelopment+%E2%80%94+A+Sociological+Phantasy&rft.volume=4&rft.issue=1&rft.pages=5-23&rft.date=1974&rft.aulast=Taylor&rft.aufirst=John&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMarxian+economics" class="Z3988"></span></span> </li> <li id="cite_note-:22-37"><span class="mw-cite-backlink">^ <a href="#cite_ref-:22_37-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-:22_37-1"><sup><i><b>b</b></i></sup></a> <a href="#cite_ref-:22_37-2"><sup><i><b>c</b></i></sup></a></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFNitzanBichler2009" class="citation book cs1"><a href="/wiki/Jonathan_Nitzan" title="Jonathan Nitzan">Nitzan, Jonathan</a>; <a href="/wiki/Shimshon_Bichler" title="Shimshon Bichler">Bichler, Shimshon</a> (2009). <a rel="nofollow" class="external text" href="https://books.google.com/books?id=-qRKIpvTO6IC&dq="><i>Capital as power: a study of order and creorder</i></a>. <a href="/wiki/Taylor_%26_Francis" title="Taylor & Francis">Taylor & Francis</a>. p. 50.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Capital+as+power%3A+a+study+of+order+and+creorder&rft.pages=50&rft.pub=Taylor+%26+Francis&rft.date=2009&rft.aulast=Nitzan&rft.aufirst=Jonathan&rft.au=Bichler%2C+Shimshon&rft_id=https%3A%2F%2Fbooks.google.com%2Fbooks%3Fid%3D-qRKIpvTO6IC%26dq%3D&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMarxian+economics" class="Z3988"></span></span> </li> <li id="cite_note-38"><span class="mw-cite-backlink"><b><a href="#cite_ref-38">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFBaranSweezy1966" class="citation book cs1">Baran, P.; Sweezy, P. (1966). <i><a href="/wiki/Monopoly_Capital" title="Monopoly Capital">Monopoly Capital</a>: An essay on the American economic and social order</i>. New York: <a href="/wiki/Monthly_Review_Press" class="mw-redirect" title="Monthly Review Press">Monthly Review Press</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Monopoly+Capital%3A+An+essay+on+the+American+economic+and+social+order&rft.place=New+York&rft.pub=Monthly+Review+Press&rft.date=1966&rft.aulast=Baran&rft.aufirst=P.&rft.au=Sweezy%2C+P.&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMarxian+economics" class="Z3988"></span></span> </li> <li id="cite_note-39"><span class="mw-cite-backlink"><b><a href="#cite_ref-39">^</a></b></span> <span class="reference-text"><a href="/wiki/Samuel_Bowles_(economist)" title="Samuel Bowles (economist)">Bowles, Samuel</a>. 1985. "Post-marxian economics: Labour, learning and history." <i><a href="/wiki/Social_Science_Information" title="Social Science Information">Social Science Information</a></i> 24(3). p. 507.</span> </li> <li id="cite_note-40"><span class="mw-cite-backlink"><b><a href="#cite_ref-40">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFWolffCullenberg1986" class="citation journal cs1"><a href="/wiki/Richard_D._Wolff" title="Richard D. Wolff">Wolff, Richard D.</a>; Cullenberg, Stephen (1986). "Marxism and Post-Marxism". <i><a href="/wiki/Social_Text" title="Social Text">Social Text</a></i>. <b>15</b> (Fall): 126–135.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Social+Text&rft.atitle=Marxism+and+Post-Marxism&rft.volume=15&rft.issue=Fall&rft.pages=126-135&rft.date=1986&rft.aulast=Wolff&rft.aufirst=Richard+D.&rft.au=Cullenberg%2C+Stephen&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMarxian+economics" class="Z3988"></span></span> </li> <li id="cite_note-41"><span class="mw-cite-backlink"><b><a href="#cite_ref-41">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFClark1998" class="citation book cs1">Clark, Barry Stewart (1998). <a rel="nofollow" class="external text" href="https://books.google.com/books?id=3bJHvA1H-2kC&dq="><i>Political economy: a comparative approach</i></a>. <a href="/wiki/ABC-CLIO" class="mw-redirect" title="ABC-CLIO">ABC-CLIO</a>. p. 67.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Political+economy%3A+a+comparative+approach&rft.pages=67&rft.pub=ABC-CLIO&rft.date=1998&rft.aulast=Clark&rft.aufirst=Barry+Stewart&rft_id=https%3A%2F%2Fbooks.google.com%2Fbooks%3Fid%3D3bJHvA1H-2kC%26dq%3D&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMarxian+economics" class="Z3988"></span></span> </li> <li id="cite_note-42"><span class="mw-cite-backlink"><b><a href="#cite_ref-42">^</a></b></span> <span class="reference-text">"Only one conclusion is possible, namely, that the Marxian method of transformation [of commodity values into prices of production] is logically unsatisfactory." Paul M. Sweezy, 1970 (1942), <i>The Theory of Capitalist Development</i>, p. 15. New York: Modern Reader Paperbacks.</span> </li> <li id="cite_note-43"><span class="mw-cite-backlink"><b><a href="#cite_ref-43">^</a></b></span> <span class="reference-text">Nobuo Okishio, 1961, "Technical Changes and the Rate of Profit," <i>Kobe University Economic Review</i> 7, pp. 85–99.</span> </li> <li id="cite_note-44"><span class="mw-cite-backlink"><b><a href="#cite_ref-44">^</a></b></span> <span class="reference-text">"[P]hysical quantities ... suffice to determine the rate of profit (and the associated prices of production) .... [I]t follows that value magnitudes are, at best, redundant in the determination of the rate of profit (and prices of production)." "Marx’s value reasoning––hardly a peripheral aspect of his work––must therefore be abandoned, in the interest of developing a coherent materialist theory of capitalism." Ian Steedman, 1977, <i>Marx after Sraffa</i>, pp. 202, 207. London: New Left Books.</span> </li> <li id="cite_note-45"><span class="mw-cite-backlink"><b><a href="#cite_ref-45">^</a></b></span> <span class="reference-text">"[The falling-rate-of-profit] position is rebutted in Chapter 5 by a theorem which states that ... competitive innovations result in a rising rate of profit. There seems to be no hope for a theory of the falling rate of profit within the strict confines of the environment that Marx suggested as relevant." John Roemer, <i>Analytical Foundations of Marxian Economic Theory</i>, p. 12. Cambridge: Cambridge Univ. Press, 1981.</span> </li> <li id="cite_note-46"><span class="mw-cite-backlink"><b><a href="#cite_ref-46">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFMongiovi2002" class="citation journal cs1">Mongiovi, Gary (2002). <a rel="nofollow" class="external text" href="https://web.archive.org/web/20060506003239/http://www.iwgvt.org/files/02-mongiovi.doc">"Vulgar economy in Marxian garb: a critique of Temporal Single System Marxism"</a>. <i>Review of Radical Political Economics</i>. <b>34</b> (4): 393–416. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.1177%2F048661340203400401">10.1177/048661340203400401</a>. <a href="/wiki/S2CID_(identifier)" class="mw-redirect" title="S2CID (identifier)">S2CID</a> <a rel="nofollow" class="external text" href="https://api.semanticscholar.org/CorpusID:140111679">140111679</a>. Archived from <a rel="nofollow" class="external text" href="http://www.iwgvt.org/files/02-mongiovi.doc">the original</a> on 2006-05-06. <q><span class="cs1-kern-left"></span>"Marx did make a number of errors in elaborating his theory of value and the profit rate .... [H]is would-be Temporal Single System defenders ... camouflage Marx's errors." "Marx's value analysis does indeed contain errors." (abstract)</q></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Review+of+Radical+Political+Economics&rft.atitle=Vulgar+economy+in+Marxian+garb%3A+a+critique+of+Temporal+Single+System+Marxism&rft.volume=34&rft.issue=4&rft.pages=393-416&rft.date=2002&rft_id=info%3Adoi%2F10.1177%2F048661340203400401&rft_id=https%3A%2F%2Fapi.semanticscholar.org%2FCorpusID%3A140111679%23id-name%3DS2CID&rft.aulast=Mongiovi&rft.aufirst=Gary&rft_id=http%3A%2F%2Fwww.iwgvt.org%2Ffiles%2F02-mongiovi.doc&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMarxian+economics" class="Z3988"></span></span> </li> <li id="cite_note-47"><span class="mw-cite-backlink"><b><a href="#cite_ref-47">^</a></b></span> <span class="reference-text">"An Error II is an inconsistency, whose removal through development of the theory leaves the foundations of the theory intact. Now I believe that Marx left us with a few Errors II." <a href="/wiki/David_Laibman" title="David Laibman">David Laibman</a>, "Rhetoric and Substance in Value Theory" in Alan Freeman, <a href="/wiki/Andrew_Kliman" title="Andrew Kliman">Andrew Kliman</a>, and <a href="/w/index.php?title=Julian_Wells&action=edit&redlink=1" class="new" title="Julian Wells (page does not exist)">Julian Wells</a> (eds.), <i>The New Value Controversy and the Foundations of Economics</i>, Cheltenham, UK: Edward Elgar, 2004, p. 17</span> </li> <li id="cite_note-FOOTNOTEKliman2006210–211-48"><span class="mw-cite-backlink"><b><a href="#cite_ref-FOOTNOTEKliman2006210–211_48-0">^</a></b></span> <span class="reference-text"><a href="#CITEREFKliman2006">Kliman 2006</a>, pp. 210–211.</span> </li> <li id="cite_note-FOOTNOTEKliman2006208-49"><span class="mw-cite-backlink"><b><a href="#cite_ref-FOOTNOTEKliman2006208_49-0">^</a></b></span> <span class="reference-text"><a href="#CITEREFKliman2006">Kliman 2006</a>, p. 208.</span> </li> <li id="cite_note-50"><span class="mw-cite-backlink"><b><a href="#cite_ref-50">^</a></b></span> <span class="reference-text"><a href="/wiki/Paul_A._Baran" title="Paul A. Baran">Baran, Paul A.</a>, and <a href="/wiki/Paul_Sweezy" title="Paul Sweezy">Paul Sweezy</a>. 2012. "<a rel="nofollow" class="external text" href="http://monthlyreview.org/2012/07/01/some-theoretical-implications">Some Theoretical Implications</a>," edited by <a href="/wiki/John_Bellamy_Foster" title="John Bellamy Foster">J. B. Foster</a>. <i><a href="/wiki/Monthly_Review" title="Monthly Review">Monthly Review</a></i> 64(3).</span> </li> <li id="cite_note-:3-51"><span class="mw-cite-backlink">^ <a href="#cite_ref-:3_51-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-:3_51-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFBaran1957" class="citation book cs1">Baran, Paul A. (1957). <span class="id-lock-registration" title="Free registration required"><a rel="nofollow" class="external text" href="https://archive.org/details/politicaleconomy00bararich"><i>The Political Economy of Growth</i></a></span>. New York: <a href="/wiki/Monthly_Review_Press" class="mw-redirect" title="Monthly Review Press">Monthly Review Press</a>. pp. <a rel="nofollow" class="external text" href="https://archive.org/details/politicaleconomy00bararich/page/22">22</a>–23, 41–42.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=The+Political+Economy+of+Growth&rft.place=New+York&rft.pages=22-23%2C+41-42&rft.pub=Monthly+Review+Press&rft.date=1957&rft.aulast=Baran&rft.aufirst=Paul+A.&rft_id=https%3A%2F%2Farchive.org%2Fdetails%2Fpoliticaleconomy00bararich&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMarxian+economics" class="Z3988"></span></span> </li> </ol></div> <div class="mw-heading mw-heading3"><h3 id="Works_cited">Works cited</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Marxian_economics&action=edit&section=19" title="Edit section: Works cited"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1239549316">.mw-parser-output .refbegin{margin-bottom:0.5em}.mw-parser-output .refbegin-hanging-indents>ul{margin-left:0}.mw-parser-output .refbegin-hanging-indents>ul>li{margin-left:0;padding-left:3.2em;text-indent:-3.2em}.mw-parser-output .refbegin-hanging-indents ul,.mw-parser-output .refbegin-hanging-indents ul li{list-style:none}@media(max-width:720px){.mw-parser-output .refbegin-hanging-indents>ul>li{padding-left:1.6em;text-indent:-1.6em}}.mw-parser-output .refbegin-columns{margin-top:0.3em}.mw-parser-output .refbegin-columns ul{margin-top:0}.mw-parser-output .refbegin-columns li{page-break-inside:avoid;break-inside:avoid-column}@media screen{.mw-parser-output .refbegin{font-size:90%}}</style><div class="refbegin" style=""> <ul><li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFKliman2006" class="citation book cs1"><a href="/wiki/Andrew_Kliman" title="Andrew Kliman">Kliman, Andrew</a> (2006). <i>Reclaiming Marx's "Capital": A Refutation of the Myth of Inconsistency</i>. <a href="/wiki/Lexington_Books" class="mw-redirect" title="Lexington Books">Lexington Books</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Reclaiming+Marx%27s+%22Capital%22%3A+A+Refutation+of+the+Myth+of+Inconsistency&rft.pub=Lexington+Books&rft.date=2006&rft.aulast=Kliman&rft.aufirst=Andrew&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMarxian+economics" class="Z3988"></span></li></ul> </div> <div class="mw-heading mw-heading2"><h2 id="Further_reading">Further reading</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Marxian_economics&action=edit&section=20" title="Edit section: Further reading"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1239549316"><div class="refbegin refbegin-columns references-column-width" style="column-width: 40em"> <ul><li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFGlyn1987" class="citation book cs1">Glyn, Andrew (1987). "Marxist economics". <i>The New Palgrave: A Dictionary of Economics</i>. Vol. 3. pp. 390–95. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.1057%2F978-1-349-95121-5_1135-1">10.1057/978-1-349-95121-5_1135-1</a>. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-1-349-95121-5" title="Special:BookSources/978-1-349-95121-5"><bdi>978-1-349-95121-5</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=bookitem&rft.atitle=Marxist+economics&rft.btitle=The+New+Palgrave%3A+A+Dictionary+of+Economics&rft.pages=390-95&rft.date=1987&rft_id=info%3Adoi%2F10.1057%2F978-1-349-95121-5_1135-1&rft.isbn=978-1-349-95121-5&rft.aulast=Glyn&rft.aufirst=Andrew&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMarxian+economics" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFRoemer1987" class="citation book cs1"><a href="/wiki/John_Roemer" title="John Roemer">Roemer, J. E.</a> (1987). "Marxian value analysis". <i><a href="/wiki/New_Palgrave:_A_Dictionary_of_Economics" class="mw-redirect" title="New Palgrave: A Dictionary of Economics">The New Palgrave: A Dictionary of Economics</a></i>. Vol. 3. pp. 383–87. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.1057%2F978-1-349-95121-5_1001-1">10.1057/978-1-349-95121-5_1001-1</a>. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-1-349-95121-5" title="Special:BookSources/978-1-349-95121-5"><bdi>978-1-349-95121-5</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=bookitem&rft.atitle=Marxian+value+analysis&rft.btitle=The+New+Palgrave%3A+A+Dictionary+of+Economics&rft.pages=383-87&rft.date=1987&rft_id=info%3Adoi%2F10.1057%2F978-1-349-95121-5_1001-1&rft.isbn=978-1-349-95121-5&rft.aulast=Roemer&rft.aufirst=J.+E.&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMarxian+economics" class="Z3988"></span></li> <li>John E. Roemer (2008). "socialism (new perspectives)," <i><a href="/wiki/The_New_Palgrave_Dictionary_of_Economics" title="The New Palgrave Dictionary of Economics">The New Palgrave Dictionary of Economics</a></i>, 2nd Edition, <a rel="nofollow" class="external text" href="http://www.dictionaryofeconomics.com/article?id=pde2008_S000449&edition=current&q=marxian&topicid=&result_number=1">Abstract.</a></li> <li>Diane Flaherty (2008). "radical economics," <i>The New Palgrave Dictionary of Economics</i>, 2nd Edition, <a rel="nofollow" class="external text" href="http://www.dictionaryofeconomics.com/article?id=pde2008_R000004&edition=current&q=marxian&topicid=&result_number=9">Abstract.</a></li> <li>Lenny Flank, 'Contradictions of Capitalism: An Introduction to Marxist Economics', St Petersburg, Florida: Red and Black Publishers, 2007. <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0-9791813-9-9" title="Special:BookSources/978-0-9791813-9-9">978-0-9791813-9-9</a>.</li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFHeilbroner2000" class="citation book cs1"><a href="/wiki/Robert_Heilbroner" title="Robert Heilbroner">Heilbroner, Robert</a> (2000). <i><a href="/wiki/The_Worldly_Philosophers" class="mw-redirect" title="The Worldly Philosophers">The Worldly Philosophers</a></i> (7th ed.). London: <a href="/wiki/Penguin_Books" title="Penguin Books">Penguin Books</a>. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0-140-29006-6" title="Special:BookSources/978-0-140-29006-6"><bdi>978-0-140-29006-6</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=The+Worldly+Philosophers&rft.place=London&rft.edition=7th&rft.pub=Penguin+Books&rft.date=2000&rft.isbn=978-0-140-29006-6&rft.aulast=Heilbroner&rft.aufirst=Robert&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMarxian+economics" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFScrepantiZamagni2005" class="citation book cs1"><a href="/wiki/Ernesto_Screpanti" title="Ernesto Screpanti">Screpanti, Ernesto</a>; <a href="/wiki/Stefano_Zamagni" title="Stefano Zamagni">Zamagni, Stefano</a> (2005). <i>An Outline of the History of Economic Thought</i> (2nd ed.). Oxford: <a href="/wiki/Oxford_University_Press" title="Oxford University Press">Oxford University Press</a>. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0-199-27913-5" title="Special:BookSources/978-0-199-27913-5"><bdi>978-0-199-27913-5</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=An+Outline+of+the+History+of+Economic+Thought&rft.place=Oxford&rft.edition=2nd&rft.pub=Oxford+University+Press&rft.date=2005&rft.isbn=978-0-199-27913-5&rft.aulast=Screpanti&rft.aufirst=Ernesto&rft.au=Zamagni%2C+Stefano&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMarxian+economics" class="Z3988"></span></li> <li><a href="/wiki/Thomas_T._Sekine" title="Thomas T. Sekine">Thomas T. Sekine</a>, <i>The Dialectic of Capital. A Study of the Inner Logic of Capitalism</i>, 2 volumes (preliminary edition), Tokyo 1986; <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><a href="/wiki/OCLC_(identifier)" class="mw-redirect" title="OCLC (identifier)">OCLC</a> <a rel="nofollow" class="external text" href="https://www.worldcat.org/oclc/489902822">489902822</a> (vol. 1), <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><a href="/wiki/OCLC_(identifier)" class="mw-redirect" title="OCLC (identifier)">OCLC</a> <a rel="nofollow" class="external text" href="https://www.worldcat.org/oclc/873921143">873921143</a> (vol. 2).</li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFSolow1988" class="citation news cs1"><a href="/wiki/Robert_M._Solow" class="mw-redirect" title="Robert M. Solow">Solow, Robert M.</a> (20 March 1988). <a rel="nofollow" class="external text" href="https://www.nytimes.com/1988/03/20/books/the-wide-wide-world-of-wealth.html?scp=1">"The Wide, Wide World Of Wealth (<i>The New Palgrave: A Dictionary of Economics'</i>. Edited by John Eatwell, Murray Milgate and Peter Newman. Four volumes. 4,103 pp. New York: Stockton Press. $650)"</a>. <i>New York Times</i>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=New+York+Times&rft.atitle=The+Wide%2C+Wide+World+Of+Wealth+%28The+New+Palgrave%3A+A+Dictionary+of+Economics.+Edited+by+John+Eatwell%2C+Murray+Milgate+and+Peter+Newman.+Four+volumes.+4%2C103+pp.+New+York%3A+Stockton+Press.+%24650%29&rft.date=1988-03-20&rft.aulast=Solow&rft.aufirst=Robert+M.&rft_id=https%3A%2F%2Fwww.nytimes.com%2F1988%2F03%2F20%2Fbooks%2Fthe-wide-wide-world-of-wealth.html%3Fscp%3D1&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMarxian+economics" class="Z3988"></span></li> <li><a href="/wiki/Marc_Fleurbaey" title="Marc Fleurbaey">Marc Fleurbaey</a>, "Economics and economic justice." (2004).</li> <li><a href="/wiki/Althusser,_Louis" class="mw-redirect" title="Althusser, Louis">Althusser, Louis</a> and <a href="/wiki/Balibar,_%C3%89tienne" class="mw-redirect" title="Balibar, Étienne">Balibar, Étienne</a>. <i>Reading Capital</i>. London: Verso, 2009.</li> <li>Bottomore, Tom, ed. <i>A Dictionary of Marxist Thought</i>. Oxford: Blackwell, 1998.</li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFBrennanKristjanson-GuralMulderOlsen2017" class="citation book cs1">Brennan, David M.; Kristjanson-Gural, David; Mulder, Catherine P.; Olsen, Erik K., eds. (2017). <a rel="nofollow" class="external text" href="https://www.routledge.com/Routledge-Handbook-of-Marxian-Economics/Brennan-Kristjanson-Gural-Mulder-Olsen/p/book/9780367321765"><i>Routledge Handbook of Marxian Economics</i></a>. <a href="/wiki/Routledge" title="Routledge">Routledge</a>. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-1138774933" title="Special:BookSources/978-1138774933"><bdi>978-1138774933</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Routledge+Handbook+of+Marxian+Economics&rft.pub=Routledge&rft.date=2017&rft.isbn=978-1138774933&rft_id=https%3A%2F%2Fwww.routledge.com%2FRoutledge-Handbook-of-Marxian-Economics%2FBrennan-Kristjanson-Gural-Mulder-Olsen%2Fp%2Fbook%2F9780367321765&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMarxian+economics" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFCochrane1970" class="citation book cs1">Cochrane, James L. (1970). "Marxian Macroeconomics". <span class="id-lock-registration" title="Free registration required"><a rel="nofollow" class="external text" href="https://archive.org/details/macroeconomicsbe00cochrich"><i>Macroeconomics Before Keynes</i></a></span>. Glenview: Scott, Foresman & Co. pp. <a rel="nofollow" class="external text" href="https://archive.org/details/macroeconomicsbe00cochrich/page/43">43–58</a>. <a href="/wiki/OCLC_(identifier)" class="mw-redirect" title="OCLC (identifier)">OCLC</a> <a rel="nofollow" class="external text" href="https://search.worldcat.org/oclc/799965716">799965716</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=bookitem&rft.atitle=Marxian+Macroeconomics&rft.btitle=Macroeconomics+Before+Keynes&rft.place=Glenview&rft.pages=43-58&rft.pub=Scott%2C+Foresman+%26+Co.&rft.date=1970&rft_id=info%3Aoclcnum%2F799965716&rft.aulast=Cochrane&rft.aufirst=James+L.&rft_id=https%3A%2F%2Farchive.org%2Fdetails%2Fmacroeconomicsbe00cochrich&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMarxian+economics" class="Z3988"></span></li> <li><a href="/wiki/Ben_Fine" title="Ben Fine">Fine, Ben</a>. <i>Marx's Capital.</i> 5th ed. London: Pluto, 2010.</li> <li><a href="/wiki/David_Harvey_(geographer)" class="mw-redirect" title="David Harvey (geographer)">Harvey, David</a>. <i>A Companion to Marx's Capital.</i> London: Verso, 2010.</li> <li>Harvey, David. <i>The Limits of Capital</i>. London: Verso, 2006.</li> <li><a href="/wiki/Ernest_Mandel" title="Ernest Mandel">Mandel, Ernest</a>. <i>Marxist Economic Theory</i>. New York: Monthly Review Press, 1970.</li> <li><a href="/wiki/Ernest_Mandel" title="Ernest Mandel">Mandel, Ernest</a>. <i>The Formation of the Economic Thought of Karl Marx</i>. New York: Monthly Review Press, 1977.</li> <li><a href="/wiki/Michio_Morishima" title="Michio Morishima">Morishima, Michio</a>. <i>Marx's Economics: A Dual Theory of Value and Growth</i>. Cambridge: Cambridge University Press, 1973.</li> <li><a href="/wiki/Postone,_Moishe" class="mw-redirect" title="Postone, Moishe">Postone, Moishe</a>. <i>Time, Labor, and Social Domination: A Reinterpretation of Marx's Critical Theory.</i> Cambridge [England]: Cambridge University Press, 1993.</li> <li><a href="/wiki/Alfredo_Saad-Filho" title="Alfredo Saad-Filho">Saad-Filho, Alfredo</a>. <i>The Value of Marx: Political Economy for Contemporary Capitalism</i>. London: Routledge, 2002.</li></ul> </div> <div class="mw-heading mw-heading2"><h2 id="External_links">External links</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Marxian_economics&action=edit&section=21" title="Edit section: External links"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1235681985">.mw-parser-output .side-box{margin:4px 0;box-sizing:border-box;border:1px solid #aaa;font-size:88%;line-height:1.25em;background-color:var(--background-color-interactive-subtle,#f8f9fa);display:flow-root}.mw-parser-output .side-box-abovebelow,.mw-parser-output .side-box-text{padding:0.25em 0.9em}.mw-parser-output .side-box-image{padding:2px 0 2px 0.9em;text-align:center}.mw-parser-output .side-box-imageright{padding:2px 0.9em 2px 0;text-align:center}@media(min-width:500px){.mw-parser-output .side-box-flex{display:flex;align-items:center}.mw-parser-output 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href="http://cepa.newschool.edu/het/schools/marxian.htm">archive</a> from <a rel="nofollow" class="external text" href="http://www.economicpolicyresearch.org/">Schwartz center of economic policy analysis</a>)</small></li> <li><a rel="nofollow" class="external text" href="https://www.marxists.org/subject/economy/index.htm">Marxian Political Economy</a></li> <li><a rel="nofollow" class="external text" href="https://web.archive.org/web/20080429202643/http://cepa.newschool.edu/het/schools/neomarx.htm">The Neo-Marxian Schools</a> <small>(<a rel="nofollow" class="external text" href="http://cepa.newschool.edu/het/schools/neomarx.htm">archive</a> from <a rel="nofollow" class="external text" href="http://www.economicpolicyresearch.org/">Schwartz center of economic policy analysis</a>)</small></li> <li><a rel="nofollow" class="external text" href="http://eurodos.free.fr/mime">A Marxian Introduction to Modern Economics</a></li> <li><a rel="nofollow" class="external text" href="http://www.valuetheory.org">International working group on value theory</a></li> <li><a rel="nofollow" class="external text" href="http://www.marxist.com/reformism-or-revolution-6.htm">An outline of Marxist economics</a>, Chapter 6 of <i>Reformism or Revolution</i> by Alan Woods</li> <li><a rel="nofollow" class="external text" href="https://sites.google.com/site/theendofthemarket/">The End of the Market</a> A website containing a critical evaluation the idea of the market-clearing price which affirms Marx's theory that in capitalism profitability would decline</li> <li><a rel="nofollow" class="external text" href="https://web.archive.org/web/20120620161730/http://homepage.newschool.edu/~het/schools/neomarx.htm">The Neo-Marxian Schools ("Radical Political Economy")</a></li> <li><a rel="nofollow" class="external text" href="http://monthlyreview.org/2015/04/01/if-youre-so-smart-why-arent-you-rich/"><i>If you're so smart, why aren't you rich?</i></a> <a href="/wiki/Monthly_Review" title="Monthly Review">Monthly Review</a> article detailing the degeneration of Marxian economics.</li> <li><a rel="nofollow" class="external text" href="https://www.youtube.com/playlist?list=PL8B2364D7C0D31D63"><span class="plainlinks">UMass Amherst Economics, 25 lectures</span></a> playlist on <a href="/wiki/YouTube_playlist_(identifier)" class="mw-redirect" title="YouTube playlist (identifier)">YouTube</a></li></ul> <div class="navbox-styles"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><style data-mw-deduplicate="TemplateStyles:r1236075235">.mw-parser-output .navbox{box-sizing:border-box;border:1px solid #a2a9b1;width:100%;clear:both;font-size:88%;text-align:center;padding:1px;margin:1em auto 0}.mw-parser-output .navbox .navbox{margin-top:0}.mw-parser-output .navbox+.navbox,.mw-parser-output .navbox+.navbox-styles+.navbox{margin-top:-1px}.mw-parser-output .navbox-inner,.mw-parser-output .navbox-subgroup{width:100%}.mw-parser-output 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style="width:1%">Pre-modern</th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Ancient_economic_thought" title="Ancient economic thought">Ancient schools</a></li> <li><a href="/wiki/History_of_Islamic_economics" title="History of Islamic economics">Medieval Islamic</a></li> <li><a href="/wiki/Scholasticism" title="Scholasticism">Scholasticism</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Modern era</th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Early_modern_philosophy" title="Early modern philosophy">Early modern</a></th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Cameralism" title="Cameralism">Cameralism</a></li> <li><a href="/wiki/Mercantilism" title="Mercantilism">Mercantilism</a></li> <li><a href="/wiki/Physiocracy" title="Physiocracy">Physiocrats</a></li> <li><a href="/wiki/School_of_Salamanca" title="School of Salamanca">School of Salamanca</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Late_modern_philosophy" class="mw-redirect" title="Late modern philosophy">Late modern</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/American_School_(economics)" title="American School (economics)">American (National)</a></li> <li><a href="/wiki/Austrian_School" class="mw-redirect" title="Austrian School">Austrian</a></li> <li><a href="/wiki/Birmingham_School_(economics)" class="mw-redirect" title="Birmingham School (economics)">Birmingham</a></li> <li><a href="/wiki/Classical_economics" title="Classical economics">Classical</a> <ul><li><a href="/wiki/Ricardian_economics" title="Ricardian economics">Ricardian</a></li></ul></li> <li><a href="/wiki/Distributism" title="Distributism">Distributist</a></li> <li><a href="/wiki/English_historical_school_of_economics" title="English historical school of economics">English historical</a></li> <li><a href="/wiki/French_liberal_school" title="French liberal school">French liberal</a></li> <li><a href="/wiki/Georgism" title="Georgism">Georgism</a></li> <li><a href="/wiki/Historical_school_of_economics" title="Historical school of economics">German historical</a></li> <li><a href="/wiki/Malthusianism" title="Malthusianism">Malthusian</a></li> <li><a href="/wiki/Manchester_Liberalism" title="Manchester Liberalism">Manchester</a></li> <li><a href="/wiki/Marginalism" title="Marginalism">Marginalism</a></li> <li><a class="mw-selflink selflink">Marxist economics</a></li> <li><a href="/wiki/Critique_of_political_economy" title="Critique of political economy">Marxian critique of political economy</a></li> <li><a href="/wiki/Mutualism_(economic_theory)" title="Mutualism (economic theory)">Mutualism</a></li> <li><a href="/wiki/Neoclassical_economics" title="Neoclassical economics">Neoclassical</a> <ul><li><a href="/wiki/Lausanne_School" title="Lausanne School">Lausanne</a></li></ul></li> <li><a href="/wiki/Socialist_economics" title="Socialist economics">Socialist</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Contemporary<br />(20th and<br />21st centuries)</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Behavioral_economics" title="Behavioral economics">Behavioral</a></li> <li><a href="/wiki/Buddhist_economics" title="Buddhist economics">Buddhist</a></li> <li><a href="/wiki/Capability_approach" title="Capability approach">Capability approach</a></li> <li><a href="/wiki/Carnegie_School" title="Carnegie School">Carnegie</a></li> <li><a href="/wiki/Chartalism" title="Chartalism">Chartalism</a> <ul><li><a href="/wiki/Modern_Monetary_Theory" class="mw-redirect" title="Modern Monetary Theory">Modern Monetary Theory</a></li></ul></li> <li><a href="/wiki/Chicago_school_of_economics" title="Chicago school of economics">Chicago</a></li> <li><a href="/wiki/Constitutional_economics" title="Constitutional economics">Constitutional</a></li> <li><a href="/wiki/Krak%C3%B3w_School_of_Economics" title="Kraków School of Economics">Cracovian</a></li> <li><a href="/wiki/Disequilibrium_macroeconomics" title="Disequilibrium macroeconomics">Disequilibrium</a></li> <li><a href="/wiki/Ecological_economics" title="Ecological economics">Ecological</a></li> <li><a href="/wiki/Evolutionary_economics" title="Evolutionary economics">Evolutionary</a></li> <li><a href="/wiki/Feminist_economics" title="Feminist economics">Feminist</a></li> <li><a href="/wiki/Freiburg_school" title="Freiburg school">Freiburg</a></li> <li><a href="/wiki/Institutional_economics" title="Institutional economics">Institutional</a></li> <li><a href="/wiki/Keynesian_economics" title="Keynesian economics">Keynesian</a> <ul><li><a href="/wiki/Neo-Keynesian_economics" class="mw-redirect" title="Neo-Keynesian economics">Neo-</a> <ul><li><a href="/wiki/Neoclassical_synthesis" title="Neoclassical synthesis">Neoclassical–Keynesian synthesis</a></li></ul></li> <li><a href="/wiki/New_Keynesian_economics" title="New Keynesian economics">New</a></li> <li><a href="/wiki/Post-Keynesian_economics" title="Post-Keynesian economics">Post-</a> <ul><li><a href="/wiki/Monetary_circuit_theory" title="Monetary circuit theory">Circuitism</a></li> <li><a href="/wiki/Marxism_and_Keynesianism#Heterodoxy_and_Keynes–Marx_synthesis" class="mw-redirect" title="Marxism and Keynesianism">Keynes–Marx synthesis</a></li></ul></li></ul></li> <li><a href="/wiki/Monetarism" title="Monetarism">Monetarism</a> <ul><li><a href="/wiki/Market_monetarism" title="Market monetarism">Market</a></li></ul></li> <li><a href="/wiki/Neo-Malthusianism" class="mw-redirect" title="Neo-Malthusianism">Neo-Malthusian</a></li> <li><a href="/wiki/Neo-Marxian_economics" class="mw-redirect" title="Neo-Marxian economics">Neo-Marxian</a></li> <li><a href="/wiki/Neo-Ricardianism" title="Neo-Ricardianism">Neo-Ricardian</a></li> <li><a href="/wiki/Neo-Schumpeterian_economics" title="Neo-Schumpeterian economics">Neo-Schumpeterian</a></li> <li><a href="/wiki/Neoliberalism" title="Neoliberalism">Neoliberalism</a></li> <li><a href="/wiki/New_classical_macroeconomics" title="New classical macroeconomics">New classical</a> <ul><li><a href="/wiki/Rational_expectations" title="Rational expectations">Rational expectations theory</a></li> <li><a href="/wiki/Real_business-cycle_theory" title="Real business-cycle theory">Real business-cycle theory</a></li></ul></li> <li><a href="/wiki/New_institutional_economics" title="New institutional economics">New institutional</a></li> <li><a href="/wiki/New_neoclassical_synthesis" title="New neoclassical synthesis">New neoclassical synthesis</a></li> <li><a href="/wiki/Organizational_economics" title="Organizational economics">Organizational</a></li> <li><a href="/wiki/Public_choice" title="Public choice">Public choice</a></li> <li><a href="/wiki/Regulation_school" title="Regulation school">Regulation</a></li> <li><a href="/wiki/Saltwater_and_freshwater_economics" title="Saltwater and freshwater economics">Saltwater/freshwater</a></li> <li><a href="/wiki/Stockholm_school_(economics)" class="mw-redirect" title="Stockholm school (economics)">Stockholm</a></li> <li><a href="/wiki/Structuralist_economics" title="Structuralist economics">Structuralist</a></li> <li><a href="/wiki/Supply-side_economics" title="Supply-side economics">Supply-side</a></li> <li><a href="/wiki/Technocracy_movement" title="Technocracy movement">Technocracy movement</a></li> <li><a href="/wiki/Thermoeconomics" title="Thermoeconomics">Thermoeconomics</a></li> <li><a href="/wiki/Virginia_school_of_political_economy" title="Virginia school of political economy">Virginia</a></li> <li><a href="/wiki/Social_credit" title="Social credit">Social credit</a></li></ul> </div></td></tr></tbody></table><div></div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Related</th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Critique_of_political_economy" title="Critique of political economy">Critique of political economy</a></li> <li><a href="/wiki/History_of_economic_thought" title="History of economic thought">History of economic thought</a></li> <li><a href="/wiki/History_of_macroeconomic_thought" title="History of macroeconomic thought">History of macroeconomic thought</a></li> <li><a href="/wiki/Economics" title="Economics">Economics</a></li> <li><a href="/wiki/Political_economy" title="Political economy">Political economy</a></li> <li><a href="/wiki/Mainstream_economics" title="Mainstream economics">Mainstream economics</a></li> <li><a href="/wiki/Heterodox_economics" title="Heterodox economics">Heterodox economics</a></li> <li><a href="/wiki/Post-autistic_economics" title="Post-autistic economics">Post-autistic economics</a></li> <li><a href="/wiki/Degrowth" title="Degrowth">Degrowth</a></li> <li><a href="/wiki/World-systems_theory" title="World-systems theory">World-systems theory</a></li> <li><a href="/wiki/Economic_system" title="Economic system">Economic systems</a></li></ul> </div></td></tr></tbody></table></div> <div class="navbox-styles"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236075235"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1066933788"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1066933788"></div><div role="navigation" class="navbox" aria-labelledby="Economics" style="padding:3px"><table class="nowraplinks hlist mw-collapsible mw-collapsed navbox-inner" style="border-spacing:0;background:transparent;color:inherit"><tbody><tr><th scope="col" class="navbox-title" colspan="2"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1239400231"><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:Economics" title="Template:Economics"><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:Economics" title="Template talk:Economics"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:Economics" title="Special:EditPage/Template:Economics"><abbr title="Edit this template">e</abbr></a></li></ul></div><div id="Economics" style="font-size:114%;margin:0 4em"><a href="/wiki/Economics" title="Economics">Economics</a></div></th></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Economics#Theoretical_research" title="Economics">Theoretical</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Microeconomics" title="Microeconomics">Microeconomics</a> <ul><li><a href="/wiki/Decision_theory" title="Decision theory">Decision theory</a></li> <li><a href="/wiki/Price_theory" class="mw-redirect" title="Price theory">Price theory</a></li> <li><a href="/wiki/Game_theory" title="Game theory">Game theory</a></li> <li><a href="/wiki/Contract_theory" title="Contract theory">Contract theory</a></li> <li><a href="/wiki/Mechanism_design" title="Mechanism design">Mechanism design</a></li></ul></li> <li><a href="/wiki/Macroeconomics" title="Macroeconomics">Macroeconomics</a></li> <li><a href="/wiki/Mathematical_economics" title="Mathematical economics">Mathematical economics</a></li> <li><a href="/wiki/Complexity_economics" title="Complexity economics">Complexity economics</a></li> <li><a href="/wiki/Computational_economics" title="Computational economics">Computational economics</a> <ul><li><a href="/wiki/Agent-based_computational_economics" title="Agent-based computational economics">Agent-based computational economics</a></li></ul></li> <li><a href="/wiki/Behavioral_economics" title="Behavioral economics">Behavioral economics</a></li> <li><a href="/wiki/Pluralism_in_economics" title="Pluralism in economics">Pluralism in economics</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Economics#Empirical_research" title="Economics">Empirical</a></th><td class="navbox-list-with-group navbox-list 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href="/wiki/Business_economics" title="Business economics">Business</a></li> <li><a href="/wiki/Cultural_economics" title="Cultural economics">Cultural</a></li> <li><a href="/wiki/Democracy_and_economic_growth" title="Democracy and economic growth">Democracy</a></li> <li><a href="/wiki/Demographic_economics" title="Demographic economics">Demographic</a></li> <li><a href="/wiki/Development_economics" title="Development economics">Development</a></li> <li><a href="/wiki/Economics_of_digitization" title="Economics of digitization">Digitization</a></li> <li><a href="/wiki/Ecological_economics" title="Ecological economics">Ecological</a></li> <li><a href="/wiki/Education_economics" title="Education economics">Education</a></li> <li><a href="/wiki/Engineering_economics" title="Engineering economics">Engineering</a></li> <li><a href="/wiki/Environmental_economics" title="Environmental economics">Environmental</a></li> <li><a href="/wiki/Evolutionary_economics" title="Evolutionary economics">Evolutionary</a></li> <li><a href="/wiki/Expeditionary_economics" title="Expeditionary economics">Expeditionary</a></li> <li><a href="/wiki/Feminist_economics" title="Feminist economics">Feminist</a></li> <li><a href="/wiki/Financial_economics" title="Financial economics">Financial</a></li> <li><a href="/wiki/Economic_geography" title="Economic geography">Geographical</a></li> <li><a href="/wiki/Happiness_economics" title="Happiness economics">Happiness</a></li> <li><a href="/wiki/Health_economics" title="Health economics">Health</a></li> <li><a href="/wiki/Economic_history" title="Economic history">Historical</a></li> <li><a href="/wiki/Humanistic_economics" title="Humanistic economics">Humanistic</a></li> <li><a href="/wiki/Industrial_organization" title="Industrial organization">Industrial organization</a></li> <li><a href="/wiki/Information_economics" title="Information economics">Information</a></li> <li><a href="/wiki/Institutional_economics" title="Institutional economics">Institutional</a></li> <li><a href="/wiki/Knowledge_economy" title="Knowledge economy">Knowledge</a></li> <li><a href="/wiki/Labour_economics" title="Labour economics">Labour</a></li> <li><a href="/wiki/Law_and_economics" title="Law and economics">Law</a></li> <li><a href="/wiki/Managerial_economics" title="Managerial economics">Managerial</a></li> <li><a href="/wiki/Monetary_economics" title="Monetary economics">Monetary</a></li> <li><a href="/wiki/Natural_resource_economics" title="Natural resource economics">Natural resource</a></li> <li><a href="/wiki/Organizational_economics" title="Organizational economics">Organizational</a></li> <li><a href="/wiki/Economics_of_participation" title="Economics of participation">Participation</a></li> <li><a href="/wiki/Personnel_economics" title="Personnel economics">Personnel</a></li> <li><a href="/wiki/Economic_planning" title="Economic planning">Planning</a></li> <li><a href="/wiki/Economic_policy" title="Economic policy">Policy</a></li> <li><a href="/wiki/Public_economics" title="Public economics">Public</a></li> <li><a href="/wiki/Public_choice" title="Public choice">Public choice</a> / <a href="/wiki/Social_choice_theory" title="Social choice theory">Social choice theory</a></li> <li><a href="/wiki/Regional_economics" title="Regional economics">Regional</a></li> <li><a href="/wiki/Rural_economics" title="Rural economics">Rural</a></li> <li><a href="/wiki/Service_economy" title="Service economy">Service</a></li> <li><a href="/wiki/Socioeconomics" class="mw-redirect" title="Socioeconomics">Socio</a></li> <li><a href="/wiki/Economic_sociology" title="Economic sociology">Sociological</a></li> <li><a href="/wiki/Solidarity_economy" title="Solidarity economy">Solidarity</a></li> <li><a href="/wiki/Economic_statistics" title="Economic statistics">Statistics</a></li> <li><a href="/wiki/Urban_economics" title="Urban economics">Urban</a></li> <li><a href="/wiki/Welfare_economics" title="Welfare economics">Welfare</a></li></ul></div></div> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><div style="display: inline-block; line-height: 1.2em; padding: .1em 0;"><a href="/wiki/Schools_of_economic_thought" title="Schools of economic thought">Schools</a><br />(<a href="/wiki/History_of_economic_thought" title="History of economic thought">history</a>)<br /></div></th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Mainstream_economics" title="Mainstream economics">Mainstream</a></li> <li><a href="/wiki/Heterodox_economics" title="Heterodox economics">Heterodox</a></li> <li><a href="/wiki/American_School_(economics)" title="American School (economics)">American (National)</a></li> <li><a href="/wiki/Ancient_economic_thought" title="Ancient economic thought">Ancient thought</a></li> <li><a href="/wiki/Anarchist_economics" class="mw-redirect" title="Anarchist economics">Anarchist</a> <ul><li><a href="/wiki/Mutualism_(economic_theory)" title="Mutualism (economic theory)">Mutualism</a></li></ul></li> <li><a href="/wiki/Austrian_School" class="mw-redirect" title="Austrian School">Austrian</a></li> <li><a href="/wiki/Behavioral_economics" title="Behavioral economics">Behavioral</a></li> <li><a href="/wiki/Buddhist_economics" title="Buddhist economics">Buddhist</a></li> <li><a href="/wiki/Chartalism" title="Chartalism">Chartalism</a> <ul><li><a href="/wiki/Modern_monetary_theory" title="Modern monetary theory">Modern monetary theory</a></li></ul></li> <li><a href="/wiki/Chicago_school_of_economics" title="Chicago school of economics">Chicago</a></li> <li><a href="/wiki/Classical_economics" title="Classical economics">Classical</a></li> <li><a href="/wiki/Critique_of_political_economy" title="Critique of political economy">Critique of political economy</a></li> <li><a href="/wiki/Economic_democracy" title="Economic democracy">Democratic</a></li> <li><a href="/wiki/Disequilibrium_macroeconomics" title="Disequilibrium macroeconomics">Disequilibrium</a></li> <li><a href="/wiki/Ecological_economics" title="Ecological economics">Ecological</a></li> <li><a href="/wiki/Evolutionary_economics" title="Evolutionary economics">Evolutionary</a></li> <li><a href="/wiki/Feminist_economics" title="Feminist economics">Feminist</a></li> <li><a href="/wiki/Georgism" title="Georgism">Georgism</a></li> <li><a href="/wiki/Happiness_economics" title="Happiness economics">Happiness</a></li> <li><a href="/wiki/Historical_school_of_economics" title="Historical school of economics">Historical</a></li> <li><a href="/wiki/Humanistic_economics" title="Humanistic economics">Humanistic</a></li> <li><a href="/wiki/Institutional_economics" title="Institutional economics">Institutional</a></li> <li><a href="/wiki/Keynesian_economics" title="Keynesian economics">Keynesian</a> <ul><li><a href="/wiki/Neo-Keynesian_economics" class="mw-redirect" title="Neo-Keynesian economics">Neo-</a> (<a href="/wiki/Neoclassical_synthesis" title="Neoclassical synthesis">neoclassical–Keynesian synthesis</a>)</li> <li><a href="/wiki/New_Keynesian_economics" title="New Keynesian economics">New</a></li> <li><a href="/wiki/Post-Keynesian_economics" title="Post-Keynesian economics">Post-</a> <ul><li><a href="/wiki/Monetary_circuit_theory" title="Monetary circuit theory">Circuitism</a></li></ul></li></ul></li> <li><a href="/wiki/Malthusianism" title="Malthusianism">Malthusianism</a></li> <li><a href="/wiki/Marginalism" title="Marginalism">Marginalism</a></li> <li><a class="mw-selflink selflink">Marxian</a> <ul><li><a href="/wiki/Neo-Marxian_economics" class="mw-redirect" title="Neo-Marxian economics">Neo-</a></li></ul></li> <li><a href="/wiki/Mercantilism" title="Mercantilism">Mercantilism</a></li> <li><a href="/wiki/Mixed_economy" title="Mixed economy">Mixed</a></li> <li><a href="/wiki/Neoclassical_economics" title="Neoclassical economics">Neoclassical</a> <ul><li><a href="/wiki/Lausanne_School" title="Lausanne School">Lausanne</a></li></ul></li> <li><a href="/wiki/New_classical_macroeconomics" title="New classical macroeconomics">New classical</a> <ul><li><a href="/wiki/Real_business-cycle_theory" title="Real business-cycle theory">Real business-cycle theory</a></li></ul></li> <li><a href="/wiki/New_institutional_economics" title="New institutional economics">New institutional</a></li> <li><a href="/wiki/Physiocracy" title="Physiocracy">Physiocracy</a></li> <li><a href="/wiki/Socialist_economics" title="Socialist economics">Socialist</a></li> <li><a href="/wiki/Stockholm_School_(economics)" title="Stockholm School (economics)">Stockholm</a></li> <li><a href="/wiki/Supply-side_economics" title="Supply-side economics">Supply-side</a></li> <li><a href="/wiki/Thermoeconomics" title="Thermoeconomics">Thermo</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><div style="display: inline-block; line-height: 1.2em; padding: .1em 0;"><a href="/wiki/Economist" title="Economist">Economists</a><br /></div></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Bernard_de_Mandeville" class="mw-redirect" title="Bernard de Mandeville">de Mandeville</a></li> <li><a href="/wiki/Fran%C3%A7ois_Quesnay" title="François Quesnay">Quesnay</a></li> <li><a href="/wiki/Adam_Smith" title="Adam Smith">Smith</a></li> <li><a href="/wiki/Thomas_Robert_Malthus" title="Thomas Robert Malthus">Malthus</a></li> <li><a href="/wiki/Jean-Baptiste_Say" title="Jean-Baptiste Say">Say</a></li> <li><a href="/wiki/David_Ricardo" title="David Ricardo">Ricardo</a></li> <li><a href="/wiki/Johann_Heinrich_von_Th%C3%BCnen" title="Johann Heinrich von Thünen">von Thünen</a></li> <li><a href="/wiki/Friedrich_List" title="Friedrich List">List</a></li> <li><a href="/wiki/Fr%C3%A9d%C3%A9ric_Bastiat" title="Frédéric Bastiat">Bastiat</a></li> <li><a href="/wiki/Antoine_Augustin_Cournot" title="Antoine Augustin Cournot">Cournot</a></li> <li><a href="/wiki/John_Stuart_Mill" title="John Stuart Mill">Mill</a></li> <li><a href="/wiki/Hermann_Heinrich_Gossen" title="Hermann Heinrich Gossen">Gossen</a></li> <li><a href="/wiki/Karl_Marx" title="Karl Marx">Marx</a></li> <li><a href="/wiki/L%C3%A9on_Walras" title="Léon Walras">Walras</a></li> <li><a href="/wiki/William_Stanley_Jevons" title="William Stanley Jevons">Jevons</a></li> <li><a href="/wiki/Henry_George" title="Henry George">George</a></li> <li><a href="/wiki/Carl_Menger" title="Carl Menger">Menger</a></li> <li><a href="/wiki/Alfred_Marshall" title="Alfred Marshall">Marshall</a></li> <li><a href="/wiki/Francis_Ysidro_Edgeworth" title="Francis Ysidro Edgeworth">Edgeworth</a></li> <li><a href="/wiki/John_Bates_Clark" title="John Bates Clark">Clark</a></li> <li><a href="/wiki/Vilfredo_Pareto" title="Vilfredo Pareto">Pareto</a></li> <li><a href="/wiki/Eugen_von_B%C3%B6hm-Bawerk" title="Eugen von Böhm-Bawerk">von Böhm-Bawerk</a></li> <li><a href="/wiki/Friedrich_von_Wieser" title="Friedrich von Wieser">von Wieser</a></li> <li><a href="/wiki/Thorstein_Veblen" title="Thorstein Veblen">Veblen</a></li> <li><a href="/wiki/Irving_Fisher" title="Irving Fisher">Fisher</a></li> <li><a href="/wiki/Arthur_Cecil_Pigou" title="Arthur Cecil Pigou">Pigou</a></li> <li><a href="/wiki/Eli_Heckscher" title="Eli Heckscher">Heckscher</a></li> <li><a href="/wiki/Ludwig_von_Mises" title="Ludwig von Mises">von Mises</a></li> <li><a href="/wiki/Joseph_Schumpeter" title="Joseph Schumpeter">Schumpeter</a></li> <li><a href="/wiki/John_Maynard_Keynes" title="John Maynard Keynes">Keynes</a></li> <li><a href="/wiki/Frank_Knight" title="Frank Knight">Knight</a></li> <li><a href="/wiki/Karl_Polanyi" title="Karl Polanyi">Polanyi</a></li> <li><a href="/wiki/Ragnar_Frisch" title="Ragnar Frisch">Frisch</a></li> <li><a href="/wiki/Piero_Sraffa" title="Piero Sraffa">Sraffa</a></li> <li><a href="/wiki/Gunnar_Myrdal" title="Gunnar Myrdal">Myrdal</a></li> <li><a href="/wiki/Friedrich_Hayek" title="Friedrich Hayek">Hayek</a></li> <li><a href="/wiki/Micha%C5%82_Kalecki" title="Michał Kalecki">Kalecki</a></li> <li><a href="/wiki/Wilhelm_R%C3%B6pke" title="Wilhelm Röpke">Röpke</a></li> <li><a href="/wiki/Simon_Kuznets" title="Simon Kuznets">Kuznets</a></li> <li><a href="/wiki/Jan_Tinbergen" title="Jan Tinbergen">Tinbergen</a></li> <li><a href="/wiki/Joan_Robinson" title="Joan Robinson">Robinson</a></li> <li><a href="/wiki/John_von_Neumann" title="John von Neumann">von Neumann</a></li> <li><a href="/wiki/John_Hicks" title="John Hicks">Hicks</a></li> <li><a href="/wiki/Oskar_R._Lange" title="Oskar R. Lange">Lange</a></li> <li><a href="/wiki/Wassily_Leontief" title="Wassily Leontief">Leontief</a></li> <li><a href="/wiki/John_Kenneth_Galbraith" title="John Kenneth Galbraith">Galbraith</a></li> <li><a href="/wiki/Tjalling_Koopmans" title="Tjalling Koopmans">Koopmans</a></li> <li><a href="/wiki/E._F._Schumacher" title="E. F. Schumacher">Schumacher</a></li> <li><a href="/wiki/Milton_Friedman" title="Milton Friedman">Friedman</a></li> <li><a href="/wiki/Paul_Samuelson" title="Paul Samuelson">Samuelson</a></li> <li><a href="/wiki/Herbert_A._Simon" title="Herbert A. Simon">Simon</a></li> <li><a href="/wiki/James_M._Buchanan" title="James M. Buchanan">Buchanan</a></li> <li><a href="/wiki/Kenneth_Arrow" title="Kenneth Arrow">Arrow</a></li> <li><a href="/wiki/William_Baumol" title="William Baumol">Baumol</a></li> <li><a href="/wiki/Robert_Solow" title="Robert Solow">Solow</a></li> <li><a href="/wiki/Murray_Rothbard" title="Murray Rothbard">Rothbard</a></li> <li><a href="/wiki/Alan_Greenspan" title="Alan Greenspan">Greenspan</a></li> <li><a href="/wiki/Thomas_Sowell" title="Thomas Sowell">Sowell</a></li> <li><a href="/wiki/Gary_Becker" title="Gary Becker">Becker</a></li> <li><a href="/wiki/Elinor_Ostrom" title="Elinor Ostrom">Ostrom</a></li> <li><a href="/wiki/Amartya_Sen" title="Amartya Sen">Sen</a></li> <li><a href="/wiki/Robert_Lucas_Jr." title="Robert Lucas Jr.">Lucas</a></li> <li><a href="/wiki/Joseph_Stiglitz" title="Joseph Stiglitz">Stiglitz</a></li> <li><a href="/wiki/Richard_Thaler" title="Richard Thaler">Thaler</a></li> <li><a href="/wiki/Hans-Hermann_Hoppe" title="Hans-Hermann Hoppe">Hoppe</a></li> <li><a href="/wiki/Paul_Krugman" title="Paul Krugman">Krugman</a></li> <li><a href="/wiki/Thomas_Piketty" title="Thomas Piketty">Piketty</a></li> <li><i><a href="/wiki/Category:Economists" title="Category:Economists">more</a></i></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Category:Economics_lists" title="Category:Economics lists">Lists</a></th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"><div class="excerpt-block"><div class="excerpt"> <ul><li><a href="/wiki/Glossary_of_economics" title="Glossary of economics">Glossary</a></li> <li><a href="/wiki/List_of_economists" title="List of economists">Economists</a></li> <li><a href="/wiki/List_of_important_publications_in_economics" title="List of important publications in economics">Publications</a> (<a href="/wiki/List_of_economics_journals" title="List of economics journals">journals</a>)</li> <li><a href="/wiki/Schools_of_economic_thought" title="Schools of economic thought">Schools</a></li></ul></div></div></div></td></tr><tr><td class="navbox-abovebelow" colspan="2"><div> <li><a href="/wiki/Category:Economics" title="Category:Economics">Category</a></li> <li><a href="/wiki/Index_of_economics_articles" title="Index of economics articles">Index</a></li> <li><a href="/wiki/Category:Economics_lists" title="Category:Economics lists">Lists</a></li> <li><a href="/wiki/Outline_of_economics" title="Outline of economics">Outline</a></li> <li><a href="/wiki/List_of_important_publications_in_economics" title="List of important publications in economics">Publications</a></li> <li><a href="/wiki/Portal:Business" title="Portal:Business">Business portal</a></li> </div></td></tr></tbody></table></div> <div class="navbox-styles"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236075235"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1066933788"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1066933788"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1066933788"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1066933788"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1066933788"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1066933788"></div><div role="navigation" class="navbox" aria-labelledby="Macroeconomics" style="padding:3px"><table class="nowraplinks mw-collapsible mw-collapsed navbox-inner" style="border-spacing:0;background:transparent;color:inherit"><tbody><tr><th scope="col" class="navbox-title" colspan="2"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1239400231"><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:Macroeconomics" title="Template:Macroeconomics"><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:Macroeconomics" title="Template talk:Macroeconomics"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:Macroeconomics" title="Special:EditPage/Template:Macroeconomics"><abbr title="Edit this template">e</abbr></a></li></ul></div><div id="Macroeconomics" style="font-size:114%;margin:0 4em"><a href="/wiki/Macroeconomics" title="Macroeconomics">Macroeconomics</a></div></th></tr><tr><th scope="row" class="navbox-group" style="width:1%">Basic concepts</th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"><div class="excerpt-block"><div class="excerpt"> <ul><li><a href="/wiki/Aggregate_demand" title="Aggregate demand">Aggregate demand</a></li> <li><a href="/wiki/Aggregate_supply" title="Aggregate supply">Aggregate supply</a></li> <li><a href="/wiki/Business_cycle" title="Business cycle">Business cycle</a></li> <li><a href="/wiki/Compound_annual_growth_rate" title="Compound annual growth rate">CAGR</a></li> <li><a href="/wiki/Deflation" title="Deflation">Deflation</a></li> <li><a href="/wiki/Demand_shock" title="Demand shock">Demand shock</a></li> <li><a href="/wiki/Disinflation" title="Disinflation">Disinflation</a></li> <li><a href="/wiki/Effective_demand" title="Effective demand">Effective demand</a></li> <li>Expectations <ul><li><a href="/wiki/Adaptive_expectations" title="Adaptive expectations">Adaptive</a></li> <li><a href="/wiki/Rational_expectations" title="Rational expectations">Rational</a></li></ul></li> <li><a href="/wiki/Financial_crisis" title="Financial crisis">Financial crisis</a></li> <li><a href="/wiki/Economic_growth" title="Economic growth">Growth</a></li> <li><a href="/wiki/Inflation" title="Inflation">Inflation</a> <ul><li><a href="/wiki/Demand-pull_inflation" title="Demand-pull inflation">Demand-pull</a></li> <li><a href="/wiki/Cost-push_inflation" title="Cost-push inflation">Cost-push</a></li></ul></li> <li><a href="/wiki/Interest_rate" title="Interest rate">Interest rate</a></li> <li><a href="/wiki/Investment_(macroeconomics)" title="Investment (macroeconomics)">Investment</a></li> <li><a href="/wiki/Liquidity_trap" title="Liquidity trap">Liquidity trap</a></li> <li><a href="/wiki/Measures_of_national_income_and_output" title="Measures of national income and output">Measures of national income and output</a> <ul><li><a href="/wiki/Gross_domestic_product" title="Gross domestic product">GDP</a></li> <li><a href="/wiki/Gross_national_income" title="Gross national income">GNI</a></li> <li><a href="/wiki/Net_national_income" title="Net national income">NNI</a></li></ul></li> <li><a href="/wiki/Microfoundations" title="Microfoundations">Microfoundations</a></li> <li><a href="/wiki/Money" title="Money">Money</a> <ul><li><a href="/wiki/Endogenous_money" title="Endogenous money">Endogenous</a></li></ul></li> <li><a href="/wiki/Money_creation" title="Money creation">Money creation</a></li> <li><a href="/wiki/Demand_for_money" title="Demand for money">Demand for money</a> <ul><li><a href="/wiki/Liquidity_preference" title="Liquidity preference">Liquidity preference</a></li></ul></li> <li><a href="/wiki/Money_supply" title="Money supply">Money supply</a></li> <li><a href="/wiki/National_accounts" title="National accounts">National accounts</a> <ul><li><a href="/wiki/System_of_National_Accounts" title="System of National Accounts">SNA</a></li></ul></li> <li><a href="/wiki/Nominal_rigidity" title="Nominal rigidity">Nominal rigidity</a></li> <li><a href="/wiki/Price_level" title="Price level">Price level</a></li> <li><a href="/wiki/Recession" title="Recession">Recession</a></li> <li><a href="/wiki/Shrinkflation" title="Shrinkflation">Shrinkflation</a></li> <li><a href="/wiki/Stagflation" title="Stagflation">Stagflation</a></li> <li><a href="/wiki/Supply_shock" title="Supply shock">Supply shock</a></li> <li><a href="/wiki/National_saving" title="National saving">Saving</a></li> <li><a href="/wiki/Unemployment" title="Unemployment">Unemployment</a></li></ul></div></div></div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Policies</th><td class="navbox-list-with-group navbox-list navbox-even hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"><div class="excerpt-block"><div class="excerpt"> <li><a href="/wiki/Fiscal_policy" title="Fiscal policy">Fiscal</a></li> <li><a href="/wiki/Monetary_policy" title="Monetary policy">Monetary</a></li> <li><a href="/wiki/Commercial_policy" title="Commercial policy">Commercial</a></li> <li><a href="/wiki/Central_bank" title="Central bank">Central bank</a></li> <li><a href="/wiki/Universal_basic_income" title="Universal basic income">Universal basic income</a></li></div></div></div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Models</th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"><div class="excerpt-block"><div class="excerpt"> <li><a href="/wiki/IS%E2%80%93LM_model" title="IS–LM model">IS–LM</a></li> <li><a href="/wiki/AD%E2%80%93AS_model" title="AD–AS model">AD–AS</a></li> <li><a href="/wiki/Keynesian_cross" title="Keynesian cross">Keynesian cross</a></li> <li><a href="/wiki/Multiplier_(economics)" title="Multiplier (economics)">Multiplier</a></li> <li><a href="/wiki/Accelerator_effect" title="Accelerator effect">Accelerator</a></li> <li><a href="/wiki/Phillips_curve" title="Phillips curve">Phillips curve</a></li> <li><a href="/wiki/Arrow%E2%80%93Debreu_model" title="Arrow–Debreu model">Arrow–Debreu</a></li> <li><a href="/wiki/Harrod%E2%80%93Domar_model" title="Harrod–Domar model">Harrod–Domar</a>Нмиф</li> <li><a href="/wiki/Solow%E2%80%93Swan_model" title="Solow–Swan model">Solow–Swan</a></li> <li><a href="/wiki/Ramsey%E2%80%93Cass%E2%80%93Koopmans_model" title="Ramsey–Cass–Koopmans model">Ramsey–Cass–Koopmans</a></li> <li><a href="/wiki/Overlapping_generations_model" title="Overlapping generations model">Overlapping generations</a></li> <li><a href="/wiki/General_equilibrium_theory" title="General equilibrium theory">General equilibrium</a> <ul><li><a href="/wiki/Dynamic_stochastic_general_equilibrium" title="Dynamic stochastic general equilibrium">DSGE</a></li></ul></li> <li><a href="/wiki/Endogenous_growth_theory" title="Endogenous growth theory">Endogenous growth</a></li> <li><a href="/wiki/Matching_theory_(economics)" class="mw-redirect" title="Matching theory (economics)">Matching theory</a></li> <li><a href="/wiki/Mundell%E2%80%93Fleming_model" title="Mundell–Fleming model">Mundell–Fleming</a></li> <li><a href="/wiki/Overshooting_model" title="Overshooting model">Overshooting</a></li> <li><a href="/wiki/NAIRU" title="NAIRU">NAIRU</a></li></div></div></div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Related fields</th><td class="navbox-list-with-group navbox-list navbox-even hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"><div class="excerpt-block"><div class="excerpt"> <li><a href="/wiki/Econometrics" title="Econometrics">Econometrics</a></li> <li><a href="/wiki/Economic_statistics" title="Economic statistics">Economic statistics</a></li> <li><a href="/wiki/Monetary_economics" title="Monetary economics">Monetary economics</a></li> <li><a href="/wiki/Development_economics" title="Development economics">Development economics</a></li> <li><a href="/wiki/International_economics" title="International economics">International economics</a></li></div></div></div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/History_of_macroeconomic_thought" title="History of macroeconomic thought">Schools</a></th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="row" class="navbox-group" style="width:1%">Mainstream</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"><div class="excerpt-block"><div class="excerpt"> <li><a href="/wiki/Keynesian_economics" title="Keynesian economics">Keynesian</a> <ul><li><a href="/wiki/Neo-Keynesian_economics" class="mw-redirect" title="Neo-Keynesian economics">Neo-</a></li> <li><a href="/wiki/New_Keynesian_economics" title="New Keynesian economics">New</a></li></ul></li> <li><a href="/wiki/Monetarism" title="Monetarism">Monetarism</a></li> <li><a href="/wiki/New_classical_macroeconomics" title="New classical macroeconomics">New classical</a> <ul><li><a href="/wiki/Real_business-cycle_theory" title="Real business-cycle theory">Real business-cycle theory</a></li></ul></li> <li><a href="/wiki/Stockholm_school_(economics)" class="mw-redirect" title="Stockholm school (economics)">Stockholm</a></li> <li><a href="/wiki/Supply-side_economics" title="Supply-side economics">Supply-side</a></li> <li><a href="/wiki/New_neoclassical_synthesis" title="New neoclassical synthesis">New neoclassical synthesis</a></li> <li><a href="/wiki/Saltwater_and_freshwater_economics" title="Saltwater and freshwater economics">Saltwater and freshwater</a></li></div></div></div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Heterodox</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"><div class="excerpt-block"><div class="excerpt"> <li><a href="/wiki/Austrian_School" class="mw-redirect" title="Austrian School">Austrian</a></li> <li><a href="/wiki/Chartalism" title="Chartalism">Chartalism</a> <ul><li><a href="/wiki/Modern_monetary_theory" title="Modern monetary theory">Modern monetary theory</a></li></ul></li> <li><a href="/wiki/Ecological_economics" title="Ecological economics">Ecological</a></li> <li><a href="/wiki/Post-Keynesian_economics" title="Post-Keynesian economics">Post-Keynesian</a> <ul><li><a href="/wiki/Monetary_circuit_theory" title="Monetary circuit theory">Circuitism</a></li></ul></li> <li><a href="/wiki/Disequilibrium_macroeconomics" title="Disequilibrium macroeconomics">Disequilibrium</a></li> <li>Marxian</li> <li><a href="/wiki/Market_monetarism" title="Market monetarism">Market monetarism</a></li></div></div></div></td></tr></tbody></table><div></div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Notable <a href="/wiki/Category:Macroeconomists" title="Category:Macroeconomists">macroeconomists</a></th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"><div class="excerpt-block"><div class="excerpt"> <li><a href="/wiki/Fran%C3%A7ois_Quesnay" title="François Quesnay">François Quesnay</a></li> <li><a href="/wiki/Adam_Smith" title="Adam Smith">Adam Smith</a></li> <li><a href="/wiki/Thomas_Robert_Malthus" title="Thomas Robert Malthus">Thomas Robert Malthus</a></li> <li><a href="/wiki/Karl_Marx" title="Karl Marx">Karl Marx</a></li> <li><a href="/wiki/L%C3%A9on_Walras" title="Léon Walras">Léon Walras</a></li> <li><a href="/wiki/Knut_Wicksell" title="Knut Wicksell">Knut Wicksell</a></li> <li><a href="/wiki/Irving_Fisher" title="Irving Fisher">Irving Fisher</a></li> <li><a href="/wiki/Wesley_Clair_Mitchell" title="Wesley Clair Mitchell">Wesley Clair Mitchell</a></li> <li><a href="/wiki/John_Maynard_Keynes" title="John Maynard Keynes">John Maynard Keynes</a></li> <li><a href="/wiki/Alvin_Hansen" title="Alvin Hansen">Alvin Hansen</a></li> <li><a href="/wiki/Micha%C5%82_Kalecki" title="Michał Kalecki">Michał Kalecki</a></li> <li><a href="/wiki/Gunnar_Myrdal" title="Gunnar Myrdal">Gunnar Myrdal</a></li> <li><a href="/wiki/Simon_Kuznets" title="Simon Kuznets">Simon Kuznets</a></li> <li><a href="/wiki/Joan_Robinson" title="Joan Robinson">Joan Robinson</a></li> <li><a href="/wiki/Friedrich_Hayek" title="Friedrich Hayek">Friedrich Hayek</a></li> <li><a href="/wiki/John_Hicks" title="John Hicks">John Hicks</a></li> <li><a href="/wiki/Richard_Stone" title="Richard Stone">Richard Stone</a></li> <li><a href="/wiki/Hyman_Minsky" title="Hyman Minsky">Hyman Minsky</a></li> <li><a href="/wiki/Milton_Friedman" title="Milton Friedman">Milton Friedman</a></li> <li><a href="/wiki/Paul_Samuelson" title="Paul Samuelson">Paul Samuelson</a></li> <li><a href="/wiki/Lawrence_Klein" title="Lawrence Klein">Lawrence Klein</a></li> <li><a href="/wiki/Edmund_Phelps" title="Edmund Phelps">Edmund Phelps</a></li> <li><a href="/wiki/Robert_Lucas_Jr." title="Robert Lucas Jr.">Robert Lucas Jr.</a></li> <li><a href="/wiki/Edward_C._Prescott" title="Edward C. Prescott">Edward C. Prescott</a></li> <li><a href="/wiki/Peter_Diamond" title="Peter Diamond">Peter Diamond</a></li> <li><a href="/wiki/William_Nordhaus" title="William Nordhaus">William Nordhaus</a></li> <li><a href="/wiki/Joseph_Stiglitz" title="Joseph Stiglitz">Joseph Stiglitz</a></li> <li><a href="/wiki/Thomas_J._Sargent" title="Thomas J. Sargent">Thomas J. Sargent</a></li> <li><a href="/wiki/Paul_Krugman" title="Paul Krugman">Paul Krugman</a></li> <li><a href="/wiki/Greg_Mankiw" title="Greg Mankiw">N. Gregory Mankiw</a></li></div></div></div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Critique</th><td class="navbox-list-with-group navbox-list navbox-even hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"><a href="/wiki/Critique_of_political_economy" title="Critique of political economy">Critique of political economy</a></div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">See also</th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"><div class="excerpt-block"><div class="excerpt"> <li><a href="/wiki/Macroeconomic_model" title="Macroeconomic model">Macroeconomic model</a></li> <li><a href="/wiki/List_of_important_publications_in_economics#Macroeconomics" title="List of important publications in economics">Publications in macroeconomics</a></li> <li><a href="/wiki/Economics" title="Economics">Economics</a> <ul><li><a href="/wiki/Applied_economics" title="Applied economics">Applied</a></li></ul></li> <li><a href="/wiki/Microeconomics" title="Microeconomics">Microeconomics</a></li> <li><a href="/wiki/Political_economy" title="Political economy">Political economy</a></li> <li><a href="/wiki/Mathematical_economics" title="Mathematical economics">Mathematical economics</a></li></div></div></div></td></tr><tr><td class="navbox-abovebelow" colspan="2" style="font-weight:bold;"><div><span class="noviewer" typeof="mw:File"><span title="Category"><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/9/96/Symbol_category_class.svg/16px-Symbol_category_class.svg.png" decoding="async" width="16" height="16" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/9/96/Symbol_category_class.svg/23px-Symbol_category_class.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/9/96/Symbol_category_class.svg/31px-Symbol_category_class.svg.png 2x" data-file-width="180" data-file-height="185" /></span></span> <a href="/wiki/Category:Macroeconomics" title="Category:Macroeconomics">Category</a></div></td></tr></tbody></table></div>    </div><noscript><img src="https://login.wikimedia.org/wiki/Special:CentralAutoLogin/start?type=1x1" alt="" width="1" height="1" style="border: none; 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