The Keynesian conception of economic crises and its critique based on Marx
Abstract
This article analyzes the limitations of explication and solution offered by
Keynes, in respect to the capitalistic economic crisis, in the light of Marx’s ideas. Firstly, it
discusses why Keynes even apprehending the capitalism crisis vocation, operating in “laissez-
faire” conditions, does not understand its causes, immanent to the development of the
capitalistic production relations. It also attempts to show that only in a non-time related
perspective, the Keynesian solution would be able to attenuate the contradictions inherent
to capitalism and to resolve the problems from its crisis. Finally, it develops new ideas in an
attempt to present as sufficiently steady the affirmation that, in the middle and long run the
Keynesians “remedies” tend to aggravate the contradictions which caused the crisis and create
news problems, inconsistent with capitalistic interests.
JEL Classification: B51; E11; E12.
Keywords: Keynes capitalism crisis Marxism