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: Marxian Economics
Famous quotes containing the word economics:
“The animals that depend on instinct have an inherent knowledge of the laws of economics and of how to apply them; Man, with his powers of reason, has reduced economics to the level of a farce which is at once funnier and more tragic than Tobacco Road.”
—James Thurber (1894–1961)