On the current status of Marxian economics: Three essays

Abstract

This study comprises three parts.In Part One ,the`traditional II literature of mathematical marxian ecooorriicshas been critically evaluated.My aim is to show that as atheory of exploitation (but not as a price theory) the valuetheory of Marx is meaningful not only with ,the simple Leontieftechnology but also in presence of joint production and evenheterogeneous labours.The inaptitude of the `received` solutionto the `transformation II problem to reflect Marx's ideasfaithfully is sho/vu altogether.Part Two grapples with concepts and techniqaesthat constitute' a `revolutionary break` in marxian economictheory.Game-theoretic and general equilibrium approacheshave been yritically surveyed.I have· come to the conclusionthat the new approach,which is far from being fidel to Marx,nevertheless represents a remarquable advance over thetraditonal mathematical marxism.My study ends with Part Three where I try todefend the `microfoundations methodology` and give supportto the argument that game-theoretic framevlOrk is the mostappropriate of all for futur research.