The role of aggregate demand in classical-Marxian models of economic growth
Amitava Dutt ()
Cambridge Journal of Economics, 2011, vol. 35, issue 2, 357-382
This paper argues that classical-Marxian models of economic growth are similar to neoclassical models in neglecting the role of aggregate demand, either by omitting aggregate demand issues altogether or by relegating the role of aggregate demand to the short run. By reviewing the writings of classical-Marxian authors and by examining recent contributions to the classical-Marxian literature, it discusses the implicit assumptions that allow these theories to neglect the role of aggregate demand by examining alternative growth theories in which aggregate demand has a major role to play. It also assesses to what extent classical-Marxian economists are justified in neglecting aggregate demand as a determinant of long-run growth. Copyright The Author 2010. Published by Oxford University Press on behalf of the Cambridge Political Economy Society. All rights reserved., Oxford University Press.
References: Add references at CitEc
Citations View citations in EconPapers (3) Track citations by RSS feed
Downloads: (external link)
Access to full text is restricted to subscribers.
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:oup:cambje:v:35:y:2011:i:2:p:357-382
Ordering information: This journal article can be ordered from
Access Statistics for this article
Cambridge Journal of Economics is currently edited by Jacqui Lagrue
More articles in Cambridge Journal of Economics from Oxford University Press Oxford University Press, Great Clarendon Street, Oxford OX2 6DP, UK.
Series data maintained by Oxford University Press ().