Social Sciences
5 years ago

Marx's influence on modern economics revealed: implications for financial stability.

European Journal of Economics and Economic Policies Intervention
Karl Marx: an early post-Keynesian? A comparison of Marx's economics with the contributions by Sraffa, Keynes, Kalecki and Minsky*
Eckhard Hein

Paper Summary

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The article compares Karl Marx's economic theories with those of Sraffa, Keynes, Kalecki, and Minsky. It looks at how Marx's ideas on value, money, demand, and financial instability relate to the contributions of these other economists. The researchers find that Marx can be seen as a precursor to modern post-Keynesianism, with similarities and differences to their ideas.