INPUT OUTPUTTABLEAU OF MARX&apos;S REPRODUCTION THEORY

Feng, Jinhua

doi:10.2307/41931893

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World Review of Political Economy

Volume 1, Issue 4

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INPUT OUTPUTTABLEAU OF MARX'S REPRODUCTION THEORY

research-article

Author(s): Jinhua Feng

Publication date (Print): 1 December 2010

Journal: World Review of Political Economy

Publisher: Pluto Journals

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Abstract

Samuelson's input output interpretation of the two departments of social production, which has been considered correct by many economists, does not in fact reflect Marx's reproduction theory properly. A major mistake in Samuelson's interpretation is that he included existing variable capital in the final demand. This article derives input output analysis from Marx's reproduction theory for not only the simple case of two departments of social production but also the general case of more industries. In all the discussions, we firstly develop the functions of output composition according to Marx's theory of reproduction, and then the functions of supply and demand equilibrium according to the requirements of reproduction, and lastly the tableau based on both the functions of output composition and the functions of supply and demand equilibrium.

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Journal

Journal ID (jstor): worlrevipoliecon

Journal ID (doi): 10.2307/j50005553

Title: World Review of Political Economy

Publisher: Pluto Journals

ISSN (Print): 2042891X

Publication date (Print): 1 December 2010

Volume: 1

Issue: 4

Pages: 607-618

Article

DOI: 10.2307/41931893

SO-VID: 35ceb820-72fe-45f8-a8c1-911c25808df1

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All content is freely available without charge to users or their institutions. Users are allowed to read, download, copy, distribute, print, search, or link to the full texts of the articles in this journal without asking prior permission of the publisher or the author. Articles published in the journal are distributed under a http://creativecommons.org/licenses/by/4.0/.

History

ScienceOpen disciplines: Political economics

References

Leontief, W. (1949) "Input-Output Analysis and Its Use in Peace and War Economies. Recent Developments in the Study of Interindustrial Relationships," American Economic Review 39, 3:211-225.
Marx, K. (1956) Capital, Volume II. Moscow: Progress Publishers.
Samuelson, P.A. (1957) "Wages and Interests: A Modern Dissection of Marxian Economic Models," American Economic Review 47: 884-912.
--- (1970) "The 'Transformation' from Marxian 'Value' to Competitive 'Price': A Process of Rejection and Replacement," Proceedings of the National Academy of Sciences 67: 423-425.
--- (1971) "Understanding the Marxian Notion of Exploitation: A Summary of the So-called Transformation Problem between Marxian Value and Competitive Price," Journal of Economic Literature 9: 399-431.
Zhang Zhongren (2002) "Some Problems of the Static Direct Transformation," Shimane Journal of Policy Studies 3.

Comments

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[1] Leontief, W. (1949) "Input-Output Analysis and Its Use in Peace and War Economies. Recent Developments in the Study of Interindustrial Relationships," American Economic Review 39, 3:211-225.

[2] Marx, K. (1956) Capital, Volume II. Moscow: Progress Publishers.

[3] Samuelson, P.A. (1957) "Wages and Interests: A Modern Dissection of Marxian Economic Models," American Economic Review 47: 884-912.

[4] --- (1970) "The 'Transformation' from Marxian 'Value' to Competitive 'Price': A Process of Rejection and Replacement," Proceedings of the National Academy of Sciences 67: 423-425.

[5] --- (1971) "Understanding the Marxian Notion of Exploitation: A Summary of the So-called Transformation Problem between Marxian Value and Competitive Price," Journal of Economic Literature 9: 399-431.

[6] Zhang Zhongren (2002) "Some Problems of the Static Direct Transformation," Shimane Journal of Policy Studies 3.