Abstract
It will be useful to start by outlining the main points of distinction between the surplus approach and neoclassical theory. According to Eatwell (1979), classical theory takes as given for the analysis of value: 1) the size and composition of output; 2) conditions of reproduction, i.e., the state of technology; and 3) the real wage (or the rate of profits).
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© 2016 Joseph Halevi, G. C. Harcourt, Peter Kriesler and J. W. Nevile
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Halevi, J., Kriesler, P. (2016). Kalecki, Classical Economics and the Surplus Approach. In: Post-Keynesian Essays from Down Under Volume I: Essays on Keynes, Harrod and Kalecki. Palgrave Macmillan, London. https://doi.org/10.1057/9781137475381_12
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DOI: https://doi.org/10.1057/9781137475381_12
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