2016, №3

Keynes’s Proof of Marx’s Theory


The goal of this article is twofold: (1) From Marx’s “Capital” standpoints: give definitions/explanations of main Keynesian macroeconomic categories, identities and laws, (2) Discover the extent to which psychological Keynes law may be a verification or proof of Marx’s theory. From the two methods of Smith Economics (micro- and macroeconomics) uses one — exoteric method of mathematical description of directly observed phenomenon. In the “Capital” the two methods are used in unity: on the basis of discovery of inner, esoteric nature of phenomenon explanations of exoteric categories are given. In the article from “Capital” standpoints the following definitions are given: savings, investments, consumption, gross income, equality of savings and investments, consumption to consumption, main macroeconomic identity. It turns out that the reduction of consumption and the increase of savings which make up the content of the basic psychological law of Keynes, are derived from the analysis of the reproduction and circulation of total social capital at the level of volume 2 of «Capital». Keynes’s theory serves as a check or proof of Marx’s theory.

Alexander V. Sorokin – Dr. Sci. (Econ.), Professor in Economics, Faculty of Economics, Professor of the Department of Political Economy, Lomonosov Moscow State University (Moscow, Russian Federation; e-mail: sorokine.alexandre@gmail.com).