economic globalisation

John Wilson wilson at keynes.econ.utah.edu
Wed Aug 23 11:04:05 MDT 1995


Dear John, Rakesh, and Steve:
I find the relationship between Marx and Minsky to be very interesting.
Could you suggest specific readings. I would also like to read your
writings on this.
Thanks
John

On Wed, 23 Aug 1995 P8475423 at vmsuser.acsu.unsw.edu.au wrote:

> John Ernst recently commented on my quick reply to Rakesh on Minsky
> that:
>
> |we find almost no reference to the process of production itself.
>
> True--but that reflects more a "division of labor" within Post
> Keynsian economics than a strict oversight. That said, I don't find
> most Post Keynesian models of production appealing, but you will
> find significant work in that literature emphasising the cyclical
> nature of production. Kalecki is of course the father of such work,
> with Goodwin the most technically proficient developer.
>
> In my own work, I am attempting to build models of capitalism which
> start with an adequate theory of production and have Minsky's
> financial concepts overlain on top. I also argue that an
> equivalent to Minsky's theory of financial instability can be
> directly derived from Marx--so I see Minsky's theories, not
> as part of "traditional theory", but as a refinement of
> Marx's nascent work on credit.
>
> Also, of course, Post Keynesians are not part of traditional
> theory--which is neoclassical economics. The latter has, as John
> comments, never come to grips with economic growth (though it
> pretends to now in what is known as new growth theory).
>
> Cheers,
> Steve Keen
>
>
>      --- from list marxism at lists.village.virginia.edu ---
>


     --- from list marxism at lists.village.virginia.edu ---

     ------------------



More information about the Marxism mailing list