A Selective Review of Recent Quantitative Empirical Research in Marxist Political Economy

Deepankar Basu ()
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Deepankar Basu: Department of Economics, University of Massachusetts

No 2015-05, UMASS Amherst Economics Working Papers from University of Massachusetts Amherst, Department of Economics

Abstract: This paper surveys some of the quantitative empirical research in two areas of Marxist political economy: (a) Marxist national accounts, and (b) Marxist responses to the Sraffa-based critique of the 1970s. With respect to the first area, this paper explains the basic methodology underlying the construction of Marxist national accounts from traditional input-output data. With respect to the second area, it offers a short review of the theoretical literature surrounding the Sraffa-based critique of the 1970s, and subsequently discusses three Marxist responses in detail: the standard interpretation, the probabilistic interpretation and the new interpretation. It explains the basic theoretical positions of these three approaches and reviews the quantitative empirical work conducted within each.

Keywords: Marxist political economy; national accounts; value controversy (search for similar items in EconPapers)
JEL-codes: B51 C1 (search for similar items in EconPapers)
Date: 2015
New Economics Papers: this item is included in nep-his and nep-hme
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Citations: View citations in EconPapers (1)

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