Marxian Economics: A Reappraisal

Springing from a conference held in Bergamo University on the occasion of the centenary of the publication by Engels of the third book of Capital, the papers collected in these two volumes reinstate Marx's as the first genuinely evolutionary economic theory. In this, the capitalist process incessantly brings about states which will by themselves generate the next ones. Thus as Schumpeter remarked, Marx was the first to 'visualise what even at the present time is still the economic theory of the future for which we are slowly and laboriously accumulating stone and mortar, statistical facts and functional equations'.