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By John Eatwell, Murray Milgate, Peter Newman (eds.)

This is an excerpt, focusing on Marxian economics, from the 4-volume dictionary of economics, a reference ebook which goals to outline the topic of economics this day. 1300 topic entries within the entire paintings conceal the huge topics of monetary theory.

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Moscow. , Detroit: Black and Red, 1972. Schumpeter, J. 1942. Capitalism, Socialism and Democracy. New York and London: Harper & Brothers. Steedman, I. 1977. Marx after Sraffa. London: New Left Books; New York: Schocken Books. Sternberg, F. 1926. Der Imperialismus. Berlin: Malik-Verlag. M. 1942. The Theory of Capitalist Development. New York: Monthly Review Press. 37 Marxian economics Sraffa, D. 1960. Production of Commodities by Means of Commodities. Cambridge: Cambridge University Press. Tugan-Baranowsky, M.

It appears in the form of variable capital: capital spent on wages of productive workers. Marx calls the part of capital used in buying labour power variable, because only that part produces additional value. In the process of production, the value of constant capital is simply maintained (transferred in toto or in part into the value of the finished product). Variable capital on the contrary is the unique source of 'added value'. Marx postulates that the basic historic trend of capital accumulation is to increase investment in constant capital at a quicker pace than investment in variable capital; the relation between the two he calls the 'organic composition of capital'.

New York and London: Monthly Review Press. Bronfenbrenner, M. 1970. The Vicissitudes of Marxian Economics. London. Bukharin, N. 1914. Imperialism and World Economy. English trans. London: M. Lawrence, 1915; New York: International Publishers, 1929. Bukharin, N. 1926. Imperialism and the Accumulation of Capital. Trans. by R. Wichmann, ed. J. Tarbuck, London: Allen Lane, 1972; New York: Monthly Review Press. Dobb, M. 1937. Political Economy and Capitalism: some essays in economic tradition. London: G.

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