Accumulation and Crisis: Marxian Controversies
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The controversies within Marxian economics over the causes of capitalist crises and the issue of effective demand provide a fertile terrain in the study of the dynamics of growth and crisis. Despite the different language and theoretical categories that inform Marxian economics, the issues and problems that the leading theorists had encountered still resonate with the modern concerns of mainstream economics since the publication of Keynes’s General Theory. Indeed, it is quite astounding just how these controversies have withstood the test of time and continue to inform the contemporary discourse. The debates sparked by the publication of Rosa Luxemburg’s Accumulation of Capital, appear to have prefigured the theoretical issues that had tempered the Keynesian revolution in modern economic thought.
KeywordsCapital Accumulation Social Surplus Organic Composition Effective Demand Capitalist Class
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