The Unsuccessful Attempt to Complete Marx’s Scheme of Reproduction
The scheme assumes that capitalist production creates its own, adequately sized market. Consequently, there is an impression of identity between production and realization, which is, of course, contradictory to the ‘spirit of Marx’s theory itself’, and with many statements contained in the first and particularly in the third volume of Capital, where Marx emphasized the tendency of purchasing power (aggregate demand) to lag persistently behind rapidly growing production.
Marx omitted in the scheme the monetary form and phase of capital in the process of capital accumulation.
KeywordsCapitalist Consumption Technical Progress Aggregate Demand Reproduction Scheme Social Product
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