Marx sets his theory of value within the capitalist (or bourgeois) mode of production:
"The wealth of those societies in which the capitalist mode of production prevails, presents itself as 'an immense accumulation of commodities'..." (Marx 2010, first sentence of chapter 1)
Feudal societies, with lords and serfs, and classical societies, such as the Roman empire with its slaves, present other modes of production. Although this exposition starts from the same point as Marx, it deviates from his dialectical method of presentation.…
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My paper compares them in more detail to Post Keynesians, who are perhaps more combative about their heterodox relations with mainstream economics and only barely aware of these people, who sometimes put them down for their sometimes lack of mathematical rigor. I suggest that their common admiration for Kalecki and Kaldor and Goodwin whose models can generate complex dynamics is a possible opening for them to communicate and support each other, especially given that they are generally in the same neck of the ideological and policy woods, with the modern monetary theorists full emploiyment ideas looking somewhat like those of this flexicurity approach that does not get talked about in the US.
Econospeak
What Is The Bielefeld School Of Economics?J. Barkley Rosser | Professor of Economics and Business Administration James Madison University
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