Abstract
The realization problem was first considered by classical economists such as Ricardo and Sismondi. Keynes’s theory of effective demand has a bearing on it too. But it was Marx who gave it its most rounded – and controversial – treatment. At its simplest, the realization problem amounts to this: is there sufficient monetary demand for the commodities which have been produced to be sold, and sold at their value?
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Kenway, P. 1980. Marx, Keynes and the possibility of crisis. Cambridge Journal of Economics 4(1): 23–36.
Keynes, J.M. 1936. The general theory of employment, interest and money. London: Macmillan, 1973.
Marx, K. 1885. Capital, vol. II. Harmondsworth: Penguin, 1978.
Rosdolsky, R. 1968. The making of Marx’s ‘Capital’. London: Pluto, 1977.
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Kenway, P. (2018). Realization Problem. In: The New Palgrave Dictionary of Economics. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-349-95189-5_1478
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DOI: https://doi.org/10.1057/978-1-349-95189-5_1478
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Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-95188-8
Online ISBN: 978-1-349-95189-5
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