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Genesis and foundations of the multiplier: Marx, Kalecki and Keynes

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  • Serena Sordi
  • Alessandro Vercelli

Abstract

This paper explores the Marxian genetic root of the multiplier in order to clarify its foundations and validity conditions. Though the analysis is restricted to the first two volumes of Capital and the early contributions by Kalecki in the 1930s, we argue that we can draw from these works valuable insights into the theoretical and empirical scope of the Kahn-Keynes multiplier.

Suggested Citation

  • Serena Sordi & Alessandro Vercelli, 2010. "Genesis and foundations of the multiplier: Marx, Kalecki and Keynes," Department of Economic Policy, Finance and Development (DEPFID) University of Siena 0710, Department of Economic Policy, Finance and Development (DEPFID), University of Siena.
    • Handle: RePEc:usi:depfid:0710
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    File URL: http://repec.deps.unisi.it/depfid/text0710.pdf
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    Cited by:

    1. Galanis, Giorgos & Veneziani, Roberto & Yoshihara, Naoki, 2016. "Growth, Exploitation and Class Inequalities," Discussion Paper Series 636, Institute of Economic Research, Hitotsubashi University.

    More about this item

    Keywords

    multiplier; reproduction schema; capitalist process of circulation;
    All these keywords.

    JEL classification:

    • B23 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Econometrics; Quantitative and Mathematical Studies
    • B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology
    • 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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