Marx's economics

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MARX'S ECONOMICS A dual theory of value and growth
MICHIO MORISHIMA
Professor Morishima concentrâtes on the three volumes of Das Kapital and their contributions to the major topics of traditional Marxian economics. He provides a rigorous mathematisation of the labour theory of value, the theory of exploitation, the transformation problem, the reproduction scheme, the law of relative surplus population, the falling rate of profit and the turnover of capital.
As Professor Morishima says in his introduction to this book, it is a regrettable fact that economists have for so long been divided into two hostile camps, orthodox and Marxian. In his view, Marx and Walras should really be honoured together, as the progenitors of the modern, dynamic theory of general economie equilibrium. Marx was the first economist to obtain a rigorously scientific macro-dynamic model and his work is still highly relevant for contemporary economics. This is the aspect of Marx to which Professor Morishima... Tovább

Fülszöveg

MARX'S ECONOMICS A dual theory of value and growth
MICHIO MORISHIMA
Professor Morishima concentrâtes on the three volumes of Das Kapital and their contributions to the major topics of traditional Marxian economics. He provides a rigorous mathematisation of the labour theory of value, the theory of exploitation, the transformation problem, the reproduction scheme, the law of relative surplus population, the falling rate of profit and the turnover of capital.
As Professor Morishima says in his introduction to this book, it is a regrettable fact that economists have for so long been divided into two hostile camps, orthodox and Marxian. In his view, Marx and Walras should really be honoured together, as the progenitors of the modern, dynamic theory of general economie equilibrium. Marx was the first economist to obtain a rigorously scientific macro-dynamic model and his work is still highly relevant for contemporary economics. This is the aspect of Marx to which Professor Morishima pays particular attention here.
After proving Marxian propositions in a rigorous way, he argues that in order to combine Marx's model with von Neumann's in a new growth theory it is necessary to abandon the labour theory of value. Professor Morishima feels that this sacrifice is well worth making, because it enables Marxian economics to be integrated with orthodox theory into a new Marx-von Neumann theory of growth, and thus to make an important contribution to the development of the subject.
First paperback édition 1978 Also issued in hard covers Vissza