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Realization Problem

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Abstract

The realization problem was first considered by classical economists such as Ricardo and Sismondi. Keynes’s theory of effective demand has a bearing on it too. But it was Marx who gave it its most rounded — and controversial — treatment. At its simplest, the realization problem amounts to this: is there sufficient monetary demand for the commodities which have been produced to be sold, and sold at their value?

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  • Realization Problem
  • Reproduction Scheme
  • Capitalist Production
  • Simple Reproduction
  • Actual Employment

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Bibliography

  • Kenway, P. 1980. Marx, Keynes and the possibility of crisis. Cambridge Journal of Economics 4(1), March, 23–36.

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  • Keynes, J.M. 1936. The General Theory of Employment, Interest and Money, London: Macmillan, 1973; New York: St. Martin’s Press.

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  • Marx, K. 1885. Capital, Vol. II. Harmondsworth: Penguin, 1978.

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  • Rosdolsky, R. 1968. The Making of Marx’s ‘Capital’. London: Pluto, 1977. Distributed in U.S.A. by Humanities Press.

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© 1990 Palgrave Macmillan, a division of Macmillan Publishers Limited

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Kenway, P. (1990). Realization Problem. In: Eatwell, J., Milgate, M., Newman, P. (eds) Marxian Economics. The New Palgrave. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-20572-1_49

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