Kalecki and Marx on effective demand. (Michal Kalecki, Karl Marx)

From: Atlantic Economic Journal | Date: December 1, 1989| Author: Sebastiani, Mario | Copyright information

I. Introduction

Among the questions left open by Marx, the most controversial ones-and still of great interest today-concern the relationship between values and prices of production, and the problem of effective demand; i.e., the two aspects which countersign the Marxian analysis of profits: the origin of profit and the condition for its realization. The former is attributed to the sphere of production, to the exchange between capital and labor; the latter to the attitud...

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