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Tugan-Baranowsky and effective demand

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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


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