English, Article edition: The relevance of Marx to all students of economics, no matter the level Nick Potts

User activity

Share to:
 
Bookmark: http://trove.nla.gov.au/version/29575
Physical Description
  • article
Language
  • English

Edition details

Title
  • The relevance of Marx to all students of economics, no matter the level
Author
  • Nick Potts
Physical Description
  • article
Notes
  • Purpose – To challenge the validity/​usefulness of teaching mainstream neo-classical/​new-classical economics, by contending that Marx provides a superior understanding of the essential nature of the capitalist system. Design/​methodology/​approach – To explain Marx the hermeneutic issue of which Marx must be addressed. Simultaneous and dualistic interpretations of Marx question Marx's key conclusions, suggesting that Marx's value theory is inconsistent. In contrast the Temporal Single System Interpretation (TSSI) of Marx contends that all of Marx's key conclusions/​results hold if one adopts a sequential and non-dualistic methodological approach, restoring Marx's central message/​power. Findings – Explains how Marx endogenously accounts for the inevitable cyclical behaviour of capitalism, its tendency to concentrate and the development of the financial system. In short, Marx can explain the tendencies observed in the globalising world, whereas it is contended that mainstream analysis is hampered by prioritising an ideal simultaneous equilibrium and investigating how it might be exogenously disturbed. Research limitations/​implications – If, as is contended, Marx's economics provides a superior understanding of the world, then research into Marx and analysis based on Marxian foundations should be prioritised. Practical implications – Marx should be widely taught to improve students' understanding of the economy. Originality/​value – Quite simply challenges orthodoxy by rediscovering value.
  • Marxist economics, Money, Profit, Value analysis
  • RePEc:eme:ijsepp:v:32:y:2005:i:9:p:827-851
Language
  • English
Contributed by
OAIster

Get this edition

  • Set up My libraries

    How do I set up "My libraries"?

    In order to set up a list of libraries that you have access to, you must first login or sign up. Then set up a personal list of libraries from your profile page by clicking on your user name at the top right of any screen.

  • All (1)
  • Unknown (1)
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.

User activity


e.g. test cricket, Perth (WA), "Parkes, Henry"

Separate different tags with a comma. To include a comma in your tag, surround the tag with double quotes.

Be the first to add a tag for this edition

Be the first to add this to a list

Comments and reviews

What are comments? Add a comment

No user comments or reviews for this version

Add a comment