Neo-Marxian Economics
See also: Neo-Marxian economics and Neo-MarxismThe terms Neo-Marxian, Post-Marxian, and Radical Political Economics were first used to refer to a distinct tradition of economic thought in the 70s and 80s.
In industrial economics, the Neo-Marxian approach stressess the monopolistic rather than the competitive nature of capitalism. This approach is associated with Kalecki, and Baran and Sweezy.
Theorists such as Samuel Bowles, David Gordon, John Roemer, Jon Elster, and Adam Przeworski have adopted the techniques of neoclassical economics, including game theory and mathematical modeling, to demonstrate Marxian concepts such as exploitation and class conflict.
Read more about this topic: Marxist Economists
Famous quotes containing the word economics:
“There is no such thing as a free lunch.”
—Anonymous.
An axiom from economics popular in the 1960s, the words have no known source, though have been dated to the 1840s, when they were used in saloons where snacks were offered to customers. Ascribed to an Italian immigrant outside Grand Central Station, New York, in Alistair Cooke’s America (epilogue, 1973)