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Some Aspects of Kalecki’s Theory of Profits: its Relationship to Marx’s Schemes of Reproduction

In: Kalecki’s Relevance Today

Author

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  • Claudio Sardoni

Abstract

In this study, the relationships between Kalecki’s and Marx’s schemes of reproduction are examined. In particular, I point out that Kalecki’s views on finance are closely related to Marx’s treatment of the monetary aspects of the reproduction process. In developing his schemes of reproduction, Marx paid most attention to the monetary aspects of the process. Earlier in the first volume of Capital (Marx, 1954), Marx held that even the simple circulation and exchange of commodities could not possibly take place without money (cf. Marx, 1954, pp. 88-96). In Volume II of Capital (Marx, 1956), this point of view is reaffirmed when production, circulation and reproduction are dealt with at the macro level (cf. Marx, 1956, p. 358). But in later expositions and generalisations of Marx’s schemes the monetary aspects are frequently ignored.1

Suggested Citation

  • Claudio Sardoni, 1989. "Some Aspects of Kalecki’s Theory of Profits: its Relationship to Marx’s Schemes of Reproduction," Palgrave Macmillan Books, in: Mario Sebastiani (ed.), Kalecki’s Relevance Today, chapter 12, pages 206-219, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-10376-8_12
    DOI: 10.1007/978-1-349-10376-8_12
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    Cited by:

    1. Rotta, Tomás N., 2021. "Effective Demand and Prices of Production: An Evolutionary Approach," Structural Change and Economic Dynamics, Elsevier, vol. 58(C), pages 90-105.

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