Marx and Non-equilibrium Economics

Marx and Non-Equilibrium Economics launched the collaboration which gave rise to the Temporal Single System Interpretation (TSSI) of Marx’s value theory and the new body of Marx scholarship of which it was a part. In one volume it provides a comprehensive disproof of the ninety year-long claim that Marx’s theory was ‘inconsistent’, bringing together the temporal (non-equilibrium) scholarship of Carchedi, Freeman, and Kliman and the ‘single-system’ exegesis of Ramos and Rodriguez.

The former led to a general refutation of the longstanding claim, originating with Moszkowska, repeated by Joan Robinson, and mathematised by Okishio, that Marx’s theory of the Tendency of the Rate of Profit to Fall was mathematically false. The latter refuted, definitively, the assertion dating back to Bortkiewicz, that Marx’s transformation of values into prices of production was inconsistent.

This book is an indispensible starting point for anyone wishing to understand the new Marx scholarship and re-discover Marx’s relevance to the world economy of today.

The full post includes a searchable PDF of the entire text, with grateful thanks to Edward Elgar, the original publishers.