Marx’s reproduction schemes and multi-sector growth models

Abstract

This paper provides a critical discussion of Marx’s analysis of simple reproduction, of reproduction on an extended scale, and of the transition from simple to extended reproduction. It challenges various interpretations of Marx’s analysis based on steady-state growth models. By referring to Marx’s original manuscripts on the reproduction schemes, the paper shows that Marx, due to erroneous calculations, never arrived at schemes of reproduction on an extended scale that exhibit steady-state growth. Moreover, it is suggested that Marx identified reproduction on an extended scale with an expansion path of undisturbed capital accumulation, irrespective of whether the latter proceeds in a steady or non-steady manner.