Marx's Economics and Lord Desai's "revenge": A response to the book "Marx's Revenge" by Meghnad Desai - Part Seven When Meghnad Desai comes to discuss this aspect of Marx’s work, this is the area where his ‘equilibrium’ interpretation of Marx’s economics leads him most seriously astray. He seems to imply that Marx can be used to defend the idea of the long-term survival of capitalism, which is something alien to Marx. It is also an oversimplification of what Marx said.
Marx's Economics and Lord Desai's "revenge": A response to the book "Marx's Revenge" by Meghnad Desai - Part Eight The criticism of Marx’s approach essentially boils down to the complaint that he is not an equilibrium economist. This criticism is quite correct. Marx has a fundamentally different method from neoclassical or post-Ricardian economists – dialectical economics.
Marx's Economics and Lord Desai's "revenge": A response to the book "Marx's Revenge" by Meghnad Desai - Part Four Bourgeois economics uses as a central tool of analysis the concept of equilibrium – of capitalism in a state of rest. We regard Marxism as essentially based on the economy in a constant state of motion and therefore in permanent disequilibrium – or rather a condition where the notion of equilibrium has no meaning.
