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Download A History of Marxian Economics, Volume 2: 1929-1990 by Michael Charles Howard, John Edward King PDF

By Michael Charles Howard, John Edward King

This moment quantity completes a severe heritage of the social, political, and theoretical forces in the back of Marxian economics--the in basic terms paintings in English to provide such entire therapy. starting with Marxian analyses of the good melancholy and Stalinism, it explores the theories built to provide an explanation for the "long boom" in Western capitalism after the second one global warfare. Later chapters take care of post-Leninist theories of imperialism and carrying on with controversies in price concept and the speculation of exploitation. After outlining fresh paintings at the "second slump," the combination of rational-choice thought into Marxism, and the political economic climate of socialism, the e-book concludes with a assessment and overview of Marxian conception over the entire interval considering Marx's loss of life. compliment for the 1st quantity: "Howard and King have performed a superb job... One comes away with the impact of Marxian economics being a colourful topic, suitable to the issues of those occasions and helpful in functional matters."--Meghnad Desai, the days better schooling Supplement

Originally released in 1992.

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Extra resources for A History of Marxian Economics, Volume 2: 1929-1990 (Princeton Legacy Library)

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61 Moszkowska denies that underconsumptionism entails stagna­ tion rather than sharp fluctuations in economic activity. 62 A more sophisticated underconsumptionist theory was provided by Otto Bauer, who made explicit much of what Moszkowska's analysis had left implicit. Bauer begins with the assumption that the savings propensity of capitalists is much greater than that of the working class (which tends to zero): The relation between the development of mass consumption and the development of social production is thus determined by the relation between wages and profits.

56 Marxian Economists and the Great Depression 15 Preobrazhensky's explanation of the crisis hinged on the proposition that disproportionalities had become much more serious in the new, monopoly, stage of capitalism. Under competitive conditions resources could be moved quickly from one branch of the economy to another through the stimulus of the price mechanism, and the general level of output responded rapidly to increases in aggregate demand. In monopoly capitalism, however, resource mobility was impeded and demand fluctuations had asymmetrical effects: output fell when demand decreased, but an increase in demand raised prices rather than production.

10 of volume I of this book. 54. O. Bauer, Kapitalismus und Sozialismus Nach dem Weltkrieg (Vienna: Wiener Volksbuchhandlung, 1931) p. 199; Naphtali, Wirtschaftskrisis, pp. 13, 20-1; F. Sternberg, 'Die Weltwirtschaftskrisis', Weltwirtschaftliches Archiv, 36, 1932, p. 127. 55. Pollock, 'Die Gegenwartige Lage', pp. 11-14, and 'Bemerkungen', pp. 329-30. 56. E. Baumann, 'Keynes' Revision der Liberalistischen Nationalokonomie', Zeitschrift fur Sozialforschung 5, 1936, pp. 384-403 ('Baumann' is a pseudonym for Pollock and Kurt Mandelbaum).

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