Marxian Economics

  • Chandana Ghosh
  • Ambar Nath Ghosh


This chapter presents Marx’s theory of surplus value and exploitation. It also discusses Marx’s theories of crises of underconsumption/overproduction and disproportionality. It, then, proceeds to examine whether we can apply Marx’s crisis theories to explain the recent growth performances of the major capitalist countries. In this context, it elucidates the theories of primitive accumulation and the theory of imperialism of Hobson, Luxemburg and Lenin.


Surplus value Exploitation Crisis of underconsumption/overproduction Crisis of disproportionality Primitive accumulation Imperialism 


  1. Hobson, J. A. (1965). Imperialism: A Study. Ann Arbor: University of Michigan Press.CrossRefGoogle Scholar
  2. Lenin, V. I. (1967). Imperialism, the Highest Stage of Capitalism. Moscow: Progress Publishers.Google Scholar
  3. Luxemburg, R. (1972). The Accumulation of Capital. New York: Monthly Review Press.Google Scholar

Copyright information

© The Author(s) 2019

Authors and Affiliations

  • Chandana Ghosh
    • 1
  • Ambar Nath Ghosh
    • 2
  1. 1.Economic Research UnitIndian Statistical InstituteKolkataIndia
  2. 2.Economics DepartmentJadavpur UniversityKolkataIndia

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