In Marxian economics, economic reproduction refers to recurrent (or cyclical) processes by which the initial conditions necessary for economic activity to occur are constantly re-created. Marx developed the original insights of Quesnay to model the circulation of capital, money and commodities in the second volume of Das Kapital. Marxian economics refers to a body of economic thought stemming from the work of Karl Marx. ... François Quesnay. ... Das Kapital (Capital) is a very large treatise of political economy written by Karl Marx in German. ...

Marx distinguishes between simple reproduction and expanded (or enlarged) reproduction. In the former case, no economic growth occurs, while in the latter case, more is produced than is needed to maintain the economy at the given level, making economic growth possible. Accumulated GDP growth for various countries. ...

Ernest Mandel additionally refers to contracted reproduction, meaning production on a smaller and smaller scale, in which case business operating at a loss outnumbers growing business (e.g. in wars, depressions, or disasters - see further Joseph Tainter et al., The Collapse of Complex Societies). Ernest Mandel Ernest Ezra Mandel, also known by various pseudonyms such as Ernest Germain, Pierre Gousset, Henri Vallin, Walter etc. ...

Theoretical approach

As an approach to studying economic activity, economic reproduction contrasts with equilibrium economics, because economic reproduction is concerned not with statics but with dynamics, i.e. the motion of an economy. It is not concerned with the conditions of a perfect match of supply and demand under idealised conditions, but with necessary quantitative proportions between different economic activities or sectors which are necessary in any real economy so that economic activity can continue and grow. And it is concerned with all the conditions for that, including social and technical conditions, necessary for the economic process. Comparative statics is the comparison of two different equilibrium states, before and after a change in one of the variables. ...

Economic reproduction in capitalism

According to Marx, in a capitalist society economic reproduction is conditional on capital accumulation. If workers fail to produce more capital, economic reproduction begins to break down. Therefore, economic reproduction in capitalist society is necessarily expanded reproduction and requires market growth. Capital must grow, otherwise the process breaks down. Thus, economic growth is not simply desirable, but also absolutely necessary in capitalism. Most generally, the accumulation of capital refers simply to the gathering or amassment of objects of value; the increase in wealth; or the creation of wealth. ...

In this light, the ecological vision of a "zero-growth society" appears rather utopian; or, at the very least, its achievement would require the abolition of capitalism. Some would argue that population growth makes economic growth absolutely necessary. The real argument though is not about "growth or no growth", but about the kind of growth that is best for the (enlarged) reproduction of the human species as such. Ecologists may validly argue that some types of growth undermine important conditions for human survival in the longer term, without this invalidating other kinds of growth which are beneficial.

Reproduction of labor power

Reproduction can also refer to the worker's daily reproduction of his own labor power. This consists of the tasks of everyday existence — food preparation, laundry and so forth — that maintain him and his ability to show up at his job as required. Much of this domestic labor has historically been the responsibility of women; thus it is of particular interest in feminist economics. In classical economics and all micro-economics labour is one of three factors of production, the others being land and capital. ... Labor power (in German: Arbeitskraft, or labor force) is a crucial concept used by Karl Marx in his critique of political economy. ... Feminism is a diverse collection of social theories, political movements, and moral philosophies, largely motivated by or concerning the experiences of women, especially in terms of their social, political, and economic situation. ...

References

• Karl Marx, Das Kapital

Das Kapital (Capital) is a very large treatise of political economy written by Karl Marx in German. ...

See also

• law of value
• labour power
• Comparative statics