Validity of the economic thoughts of Keynes and Marx for the 21st century

Abstract

This paper examines the validity of economic thoughts of Karl Marx and John Maynard Keynes for the present time. The paper compares Marx and Keynes, and aims to show that the difference in treatment of the major economic issues between them is not as significant as one may expect. Marx and Keynes held some ideas in common with neo-classical economists especially in the sphere of microeconomics, and they differ from neo-classical economists significantly in their approach to both: macroeconomic issues and their consequences for a society as a whole. They predicted wars in the future, and were speaking about a new, and global world! That is why those giants of economic thought deserve to be re-approached and reexamined, especially as the events of our age remind us of no small extent of the times when they had written

Keywords

• Crisis
• Labour
• Profit
• Perspectives
• Liberalism
• Similarity