Quantitative Empirical Research in Marxist Political Economy: A Selective Review

Abstract

This paper surveys quantitative empirical research in some key areas of Marxist political economy. Following an introductory section on the value controversy, the paper surveys quantitative empirical research on the following topics: (a) Marxist national accounts, (b) classical†Marxist theory of relative prices, (c) probabilistic political economy, (d) profitability analysis and (e) classical†Marxian theories of growth and technical change. I end by highlighting two important puzzles in the extant literature.