Tugan-Baranowsky and effective demand

Milios, J; Sotiropoulos, D

dc.contributor.author	Milios, J	en
dc.contributor.author	Sotiropoulos, D	en
dc.date.accessioned	2014-03-01T01:27:30Z
dc.date.available	2014-03-01T01:27:30Z
dc.date.issued	2007	en
dc.identifier.issn	0036-8237	en
dc.identifier.uri	https://dspace.lib.ntua.gr/xmlui/handle/123456789/18483
dc.subject.classification	Social Sciences, Interdisciplinary	en
dc.title	Tugan-Baranowsky and effective demand	en
heal.type	journalArticle	en
heal.identifier.primary	10.1521/siso.2007.71.2.227	en
heal.identifier.secondary	http://dx.doi.org/10.1521/siso.2007.71.2.227	en
heal.language	English	en
heal.publicationDate	2007	en
heal.abstract	Tugan-Baranowsky criticized underconsuption crisis theories on the basis of Marx's reproduction schemes in Vol. II of Capital. However, he incorporated in his analysis the ""absolute immiseration thesis,"" and claimed that ""proportionality"" between production sectors would exclude any possibility of crisis, despite the supposedly continuous fall in mass consumption. This approach allows for a Keynesian interpretation of Marx's theory of expanded reproduction of social capital, according to which a constantly increasing investment demand may always compensate for the lacking demand for consumer goods. In contrast to Keynesian approaches, the ultimate ""cause"" of an economic crisis is found to be not ""lack of demand"" but ""lack of surplus value,"" in the sense that the totality of capitalist contradictions renders capital unable to exploit labor at the level of exploitation that is required for sustaining profitability rates.	en
heal.publisher	GUILFORD PUBLICATIONS INC	en
heal.journalName	Science and Society	en
dc.identifier.doi	10.1521/siso.2007.71.2.227	en
dc.identifier.isi	ISI:000245366400005	en
dc.identifier.volume	71	en
dc.identifier.issue	2	en
dc.identifier.spage	227	en
dc.identifier.epage	242	en