This article assesses the extent and nature of the stimulus that will be required to end the economic crisis that opened in 2008. It compares the present economic situation to that which opened in 1929 and studies the relation between state spending, investment, and employment.

Michael Heinrich’s recent Monthly Review article claims that the law of the tendential fall in the rate of profit (LTFRP) was not proved by Marx and cannot be proved. Heinrich also argues that Marx had doubts about the law and that, for this and other reasons, his theory of capitalist economic...

This is a prepublication version of the paper published in Review of Political Economy Volume 26, 2010 (http://www.emeraldinsight.com/books.htm?issn=0161-7230&volume=26). It should be cited as Freeman, A. (2010). ‘Crisis and “law of motion” in economics: a critique of positivist...

This is a pre-publication of the chapter of the same name which was first published in Freeman et al (2001), reproduced with the kind permission of the publishers. I have re-organized it for scholarly use as a separate text, with the references included and with footnotes instead of endnotes. I...

This paper was presented to the joint conference of the AFEP, AHE and IIPPE in Paris, July 2012. A more developed and substantially revised version was presented to the conference on ‘Marxism: Marx and Beyond’ in Calcutta, 22-24 March 2012 and is due to be published. The paper argues that...

This is a pre-publication version of the article by the same name that was published in Research in Political Economy and should be cited as “Alan Freeman (2011), Crisis, Marxism, and Economic Laws: A Response to Gary Mongiovi, in Paul Zarembka, Radhika Desai (ed.) Revitalizing Marxist Theory...

In discussions on the rate of profit and its tendency to fall and its role in Marxist theory, a number of phrases are often employed without clarifying what these might really mean. Primary among these are such phrases as ‘the rate of profit must ultimately fall’ and ‘the counter-acting...

This paper was produced as a study aid, to help people understand twentieth-century debates about Marx’s theory of the profit rate. It discusses and dissects the principal criticisms of Marx’s formulation of the ‘law of the tendential fall in the profit rate’. It is I think one of the...

This text comprises chapter 13 of Marx and non-equilibrium Economics[1]. It provides a general mathematical specification of a non-equilibrium interpretation of Marx’s theory of value. It refutes the Okishio theorem and solves the transformation problem. It is a foundation work of scholarship...

This article argues that simultaneous equation systems, widely regarded as a standard formalisation of labour value theory, import equilibrium assumptions which rule out a realistic or consistent theory of price formation. An alternative, dynamic formalisation exists yielding time-varying or...