 The Intellectual Odyssey of James R. Crotty: From the War on Vietnam to a Socialist Alternative to Global CapitalismÖzgür Orhangazi and Gary Dymski Review of Radical Political Economics, 2023, vol. 55, issue 4, 714-724 Abstract: We summarize the intellectual journey of James R. Crotty in this tribute. We discuss how Crotty’s approach to macroeconomics based on Marxian and Keynesian insights led to a series of flexible models based on realistic assumptions that help us better understand the contradictory evolution of capitalism from the 1970s to the 2010s. The basic building blocks of Crottyian macroeconomics consist of the emphasis on macro foundations, focus on the concrete capitalist processes with their endogenous, dynamic, and conflict-ridden nature, and the centrality of money, credit, and competitive dynamics of the capitalist system. We also discuss how a study of these dynamics led to his final work on “liberal socialism†as the way to end the disruptive cycles of capitalism. We argue that those aiming to construct a solid theoretical foundation to guide the understanding, transformation, and transcending of contemporary capitalist societies would find much inspiration in Crotty’s intellectual legacy. JEL Classification: E11, E12, B51 Keywords: Marxian economics; Keynesian economics; macroeconomics; liberal socialism (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:sae:reorpe:v:55:y:2023:i:4:p:714-724 DOI: 10.1177/04866134231199123 Access Statistics for this article More articles in Review of Radical Political Economics from Union for Radical Political Economics |
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