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Article: Marx and Keynes: alternative views on capitalism? (John Maynard Keynes, Karl Marx)
- Article from:
- Atlantic Economic Journal
- Article date:
- December 1, 1989
- Author:
CopyrightCOPYRIGHT 1989 Atlantic Economic Society. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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I. Introduction
Throughout their careers, John Maynard Keynes and Karl Marx were absorbed in studies of capitalism; studies that resulted in their formulation of firm views on the system. Although it has been said that "Keynes and Marx, indeed, have much in common" [Hale, 1976, p. 37], it seems that the two economists would have disputed this assertion. Keynes, for instance, characterized Marx's Capital as a "scientifically erroneous" and "obsolete economic textbook" that contains "nothing but out-of-date controversialising" [Keynes, 1963, p. 300; 1982(a), p. 42].
Marx must be excused, of course, for not having voiced any opinion on Keynes' economic ...
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