[D66] Could Keynes end the slump? Introducing the Marxist multiplier

[Antid Oto]

http://www.isj.org.uk/index.php4?id=849&issue=136

Could Keynes end the slump? Introducing the Marxist multiplier
Issue: 136
Posted: 8 October 12
Guglielmo Carchedi

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"The above has shed light on the essential difference between the 
Keynesian and the Marxist approach. Contrary to the latter, for the 
former profitability is not the essential determinant of production. The 
Keynesian approach inverts the order of causation. In it profitability 
is a consequence of greater demand-induced production, a consequence of 
greater physical production induced by higher consumption. In the 
Marxist approach, higher production is the consequence of higher 
profitability. The theoretical, political and ideological consequences 
are far reaching."