Η θεωρία οικονομικών κρίσεων του Karl Marx

Karl Marx’s theory of economic crises

Theodore Mariolis ()

MPRA Paper from University Library of Munich, Germany

Abstract: This paper argues that Marx’s theory of economic crises constitutes a system of three discrete ‘sub-theories’ on: (i) distributive growth cycles; (ii) effective demand; and (iii) the tendency of the average profit rate to fall. The paper explores the relationships between these sub-theories and concludes that the third sub-theory overdetermines the other two. Finally, it evaluates the Marxian system of crises on the basis of modern economic science findings.

Keywords: Bhaduri-Marglin accumulation function; Goodwin’s growth cycle models; Law of the tendency of the average profit rate to fall; Marx’s system of eco-nomic crises; Sraffian theory; Total factor productivity (search for similar items in EconPapers)
JEL-codes: E11 E22 E32 O33 (search for similar items in EconPapers)
Date: 2014-06
New Economics Papers: this item is included in nep-hme, nep-hpe, nep-mac and nep-pke
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:56831

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