Published in «Russian Journal of Entrepreneurship»6 / 2017
DOI: 10.18334/rp.18.6.37662

The views of Karl Marx as a partial and incomplete reflection of the David Ricardo's system

Petukhov Valeriy Aleksandrovich, The Financial University under the Government of the Russian Federation, Russia

Взгляды Карла Маркса как частичное и неполное отражение системы Давида Рикардо - View in Russian

 Download PDF | Downoads: 63

Abstract:
We showed that Marx's theory is essentially a very incomplete reflection of the West-Ricardo system, as Marx does not have an analysis of the reduction in profit rate that occurs due to the principle of diminishing returns. We also critically showed the general similarity between the two systems, such as, the point on the neutral role of a constant capital in profit formation. The article will be useful to experts of history of economic thought and current economic cycle.

Keywords:

economic cycle, law of diminishing returns, profit formation, role of constant capital, value, wave-like movement of profit rate
Citation:
Petukhov V.A. (2017). The views of Karl Marx as a partial and incomplete reflection of the David Ricardo's system [Vzglyady Karla Marksa kak chastichnoe i nepolnoe otrazhenie sistemy Davida Rikardo]. Russian Journal of Entrepreneurship, 18(6). (in Russian). – doi: 10.18334/rp.18.6.37662.


References (transliterated):
Chibrikov G.G. (2008). Norma pribyli: proiskhodit li ee snizhenie [Profit rate: is it declining?]. Vestnik Moskovskogo universiteta. Seriya 6: Ekonomika. (4). 20-33. (in Russian).
Keyns Dzh. M. (1949). Obschaya teoriya zanyatosti, protsenta i deneg [The General Theory of Employment, Interest, and Money.] M.: Gosudarstvennoe izd-vo inostrannoy literatury. (in Russian).
Maltus T.R. (1993). Opyt o zakone narodonaseleniya [Experience on the law of population] Petrozavodsk: Petrokom. (in Russian).
Marks K., Engels F. (1961). «Sochineniya» t.25 ch.1 ["Works" vol.25 Part 1] M.: Gosudarstvennoe izdatelstvo politicheskoy literatury. (in Russian).
Petukhov V.A. (2014). Modernizirovannaya teoriya Davida Rikardo (chast2) [The modernized theory of David Ricardo (part 2)] The new word in science and practice: hypotheses and approbation of results of researches. 183-189. (in Russian).
Rikardo D. (1955). Sochineniya: v 5t. T.1 Nachala politicheskoy ekonomii i nalogovogo oblozheniya [Works: in 5 vol. Vol.1 On the Principles of Political Economy and Taxation ] M.: Gospolitizdat. (in Russian).
Rikardo D. (1993). Nachala politicheskoy ekonomii i nalogovogo oblozheniya [On the Principles of Political Economy and Taxation ] M.: MP «EKONOV», «KLYuCh». (in Russian).
Smit A. (1993). Issledovanie o prirode i prichinakh bogatstva narodov [An Inquiry into the Nature and Causes of the Wealth of Nations] M.: MP «EKONOV», «KLYuCh». (in Russian).