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Joan Robinson in 1942, an encounter between Marxian Economics and Macroeconomics

Carolina Alves

Cambridge Working Papers in Economics from Faculty of Economics, University of Cambridge

Abstract: This paper revisits why Joan Robinson turned to Karl Marx in 1942 and which insights from Marxian economics she sought to incorporate into her later works, while commenting on the legacies of this encounter and how was received by some her of contemporaries. By the end of the 1930s, Robinson wanted to bring academic and Marxian economics together in a search for a more realist theory of the rate of profit and income distribution, and clarifications on Keynes’s concept of full employment, the nature of technical progress and a long-period theory within the Keynesian framework. The result, An Essay on Marxian Economics (1942), was her most important work in terms of laying the foundations of her enduring challenge to the orthodox economics. Here she relied on Marxian insights to escape Marshallian orthodoxy. It is the story of how the originator of imperfect competition pushed further into a theory of exploitation.

Keywords: Joan Robinson; Marxian Economics; Rate of Profit; Exploitation (search for similar items in EconPapers)
JEL-codes: B2 B22 B24 B31 B40 (search for similar items in EconPapers)
Date: 2022-04-11
New Economics Papers: this item is included in nep-his, nep-hme, nep-hpe and nep-pke
Note: cca30
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