The comparability of the aggregates revisited

Erik Olsen

The European Journal of the History of Economic Thought, 2013, vol. 20, issue 3, 489-512

Abstract: This article addresses a longstanding controversy over the comparability of the economic accounting aggregates used by Marx in Capital with those used by Keynes in the General Theory . It demonstrates that Tsuru's highly-regarded works on this issue, which are the standard references on the topic, contain significant errors. These errors led several influential readers to conclude either that there are significant differences between the two sets of aggregates that do not actually exist, or that Marx's aggregates are fundamentally flawed and, by implication, that his entire theoretical schema is also. The effect of these problems has been to obscure the relation between Marxian and Keynesian theories rather than clarify it, as well as to foster confusion over some very basic issues in Marxian theory. This paper identifies the mistakes in Tsuru's work, and provides the correct mapping between the two sets of aggregates.

Date: 2013
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://hdl.handle.net/10.1080/09672567.2011.592845 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:taf:eujhet:v:20:y:2013:i:3:p:489-512

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/REJH20

DOI: 10.1080/09672567.2011.592845

Access Statistics for this article

The European Journal of the History of Economic Thought is currently edited by José Luís Cardoso

More articles in The European Journal of the History of Economic Thought from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().