Social relations and the Keynesian multiplier
By: Angelis, Massimo De.
Material type:
ArticlePublisher: 2000Description: p.80-103.Subject(s): Keynes, John Maynard
In:
Review of Radical Political EconomicsSummary: This paper offers a reading of the simple Keynesian multiplier through Marx's lenses. The objective is to make explicit, for the Keynesian multiplier, what from a Marxian perspective should be made explicit in any discourse about the capitalist economy, namely the role of the social relations of production. Since within given historical periods social relations are expressed in institutional forms, my analysis also gives some general insights about the basic institutional requirements assumed within the general Keynesian framework, requirements without which the Keynesian multiplier could not be operational. Finally, the paper also briefly outlines some important policy implications by comparing the main tenets of a Keynesian, neoliberal, and radical agenda for employment creation. - Reproduced
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Articles
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Indian Institute of Public Administration | Volume no: 32, Issue no: 1 | Available | AR44903 |
This paper offers a reading of the simple Keynesian multiplier through Marx's lenses. The objective is to make explicit, for the Keynesian multiplier, what from a Marxian perspective should be made explicit in any discourse about the capitalist economy, namely the role of the social relations of production. Since within given historical periods social relations are expressed in institutional forms, my analysis also gives some general insights about the basic institutional requirements assumed within the general Keynesian framework, requirements without which the Keynesian multiplier could not be operational. Finally, the paper also briefly outlines some important policy implications by comparing the main tenets of a Keynesian, neoliberal, and radical agenda for employment creation. - Reproduced
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