On Marx's Scheme of Reproduction and Accumulation

Harris, Donald J.

doi:10.1086/259902

Cited by 16 publications

(22 citation statements)

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“…So the demand side of energy will impact greatly the utilization of renewable energy. In order to show the influence of the demand side, we introduce economic growth in this reproduction model, following the works by Krelle (1971) and Harris (1972) who explore the way to understand Marx as a growth theorist. Using their approaches, we can conclude the quantitative relation of economic growth to energy demand which is summarized as Proposition 1.…”

Section: Analysis Of the Modelmentioning

confidence: 99%

Analysis on the Factors that Influence the Utilization Rate of Renewable Energy in the Framework of Marxist Reproduction

Ma¹,

Chen²,

Li³

2013

World Review of Political Economy

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Developing the renewable energy to replace traditional fossil energy is not only an essential part of sustainable development strategies of most countries all over the world, but also an important theoretical issue that draws the attention of the academic circle. On the basis of a Marxian reproduction scheme, the essay analyzes the influence of market demand, technological progress and policy promotion on the utilization rate of renewable energy and their mechanisms during the development of the renewable energy industry. A panel data set of 28 OECD countries for 34 years is constructed to examine the role of market, technology and policy on renewable energy's utilization rate. In addition, based on theoretical analysis and econometrical analysis, market, policy and technology-the three main factors will go through a thorough analysis.

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Section: Analysis Of the Modelmentioning

confidence: 99%

Analysis on the Factors that Influence the Utilization Rate of Renewable Energy in the Framework of Marxist Reproduction

Ma¹,

Chen²,

Li³

2013

World Review of Political Economy

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“…3 This is a brief introduction to the structure of the circuit of capital model. For detailed expositions, see Harris (1972) and Foley (1982). 4 This is also the starting point of the model of this paper.…”

Section: A Circuit Of Capital Modelmentioning

confidence: 99%

“…The circuit of capital model played a crucial and often ignored role in the history of economic thought. It was often viewed as the precursor of, to name just a few, Von Neumann's balanced growth model, Leontief's input–output analysis, Sraffa's circulating capital model and even Walras's general equilibrium theory (Morishima, ; Foley, 1986a,b; Kurz and Salvadori, ; Trigg, ) The early formalization of the circuit of capital model was done by Harris () and Foley (, ). Subsequently, Foley (1986a,b, 1987) extended this model to a dynamic system capable of generating endogenous growth and cycles and Loranger () used this model to explain inflation based on the (dis‐equilibrating) relation between financial and real capital in this model.…”

Section: Introductionmentioning

confidence: 99%

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Endogenous Cycles and Chaos in a Capitalist Economy: A Circuit of Capital Model

Jiang

2014

Metroeconomica

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This paper introduces a firm-level simulation model of the circuit of capital with financially extended Harrodian investment behavior. The model demonstrates that capitalist economies with heterogeneous firms can endogenously generate chaotic cycles. Stability and bifurcation analyses show that the (Harrodian) instability of the system is caused by the firm's 'aggressiveness' regarding the size of the 'rent' between investiments in the financial and the goods markets. Furthermore, the heterogeneity of firms results in a chaotic pattern of capital accumulation. Finally, a set of steady states around which the system fluctuates chaotically is found by solving the balanced growth problem.

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“…where A is the matrix of technical coefficients and [Xi] is the same diagonal matrix as that in (4). Therefore, where [Xi]-' is still a semipositive diagonal matrix whose positive elements are l/Xi (i 1, 2).…”

Section: [Ximentioning

confidence: 99%

Multi‐sectoral Models of Balanced Growth and the Marxian Schemes of Expanded Reproduction*

Sardoni

1981

Australian Economic Papers

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I.Marx was one of the first economists to study a process of capitalist growth within a multi-sectoral framework; he considered a two-sector economy in which one sector produced the means of production and the other one produced consumption goods. He dealt with this problem by using numerical examples in the second volume of Capital [13]. In recent times the Marxian schemes of expanded reproduction have received the attention of many economists who have formalised and generalised them.' Some economists (e.g., Lange [7]) have pointed out the similarities between Marx's schemes and Leontief s input-output technique. Others have gone further and have regarded the schemes as an attempt by Marx to construct a multi-sectoral model of balanced growth. Recent examples of this approach to the Marxian analysis of expanded reproduction are the models by Brody [2], Morishima and Catephores [ 151, [ 161, Roemer [2 13.On one hand, Morishima and Catephores hold that the Marxian theory of expanded reproduction can be properly expressed and generalised in terms of a von Neumann model and they have constructed a model which is called "the Marx-von Neumann approach"; on the other hand, both Brody and Roemer have generalised the Marxian schemes in a way which is very similar to a dynamic Leontief model.The present paper is an attempt to show that, despite some superficial similarities, especially due to the particular numerical example chosen by Marx, the Marxian schemes cannot be interpreted as attempts to construct a model of balanced growth. It will be argued that, in fact, Marx was not interested in the analysis of balanced growth and he constructed his schemes in order to answer questions which are different from those considered by modern models of balanced growth. Marx was not at all interested in studying balanced growth because he regarded this kind of growth as impossible or, at least, highly improbable for the capitalist mode of production. He used the schemes of expanded reproduction in order to illustrate the process of reproduction and circulation at a macroeconomic level in a clear and synthetic way, *I wish to thank S. Bowles, G. Chiodi, C. Gregory, L. Me!dolesi, A. Roncaglia, and an anonymous referee for their helpful comments on an earlier draft of this paper. Any mistake, of course, is my sole responsibility. 'Among the most recent formal versions of Marx's schemes, cf. [7], [2], [4] , [15], [6], and [21]. 383 AUSTRALIAN ECONOMIC PAPERS DECEMBERand in order to show that overproduction crises are not only possible but, indeed, highly probable within a capitalist economy.

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On Marx's Scheme of Reproduction and Accumulation

Cited by 16 publications

References 7 publications

Analysis on the Factors that Influence the Utilization Rate of Renewable Energy in the Framework of Marxist Reproduction

Analysis on the Factors that Influence the Utilization Rate of Renewable Energy in the Framework of Marxist Reproduction

Endogenous Cycles and Chaos in a Capitalist Economy: A Circuit of Capital Model

Multi‐sectoral Models of Balanced Growth and the Marxian Schemes of Expanded Reproduction*

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