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The Keynesian conception of economic crises and its critique based on Marx

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  • Rômulo Soares Polari

Abstract

This article analyzes the limitations of explication and solution offered byKeynes, in respect to the capitalistic economic crisis, in the light of Marx’s ideas. Firstly, itdiscusses why Keynes even apprehending the capitalism crisis vocation, operating in “laissez-faire” conditions, does not understand its causes, immanent to the development of thecapitalistic production relations. It also attempts to show that only in a non-time relatedperspective, the Keynesian solution would be able to attenuate the contradictions inherentto capitalism and to resolve the problems from its crisis. Finally, it develops new ideas in anattempt to present as sufficiently steady the affirmation that, in the middle and long run theKeynesians “remedies” tend to aggravate the contradictions which caused the crisis and createnews problems, inconsistent with capitalistic interests. JEL Classification: B51; E11; E12.

Suggested Citation

  • Rômulo Soares Polari, 1984. "The Keynesian conception of economic crises and its critique based on Marx," Brazilian Journal of Political Economy, Center of Political Economy, vol. 4(2), pages 242-266.
    • Handle: RePEc:ekm:repojs:v:4:y:1984:i:2:p:242-266:id:1888
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    More about this item

    Keywords

    Keynes; capitalism; crisis; Marxism;
    All these keywords.

    JEL classification:

    • B51 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Socialist; Marxian; Sraffian
    • E11 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Marxian; Sraffian; Kaleckian
    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory

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