REVIEW ARTICLE

Renan Ferreira de Araujo and Alex Wilhans Antonio Palludeto | Journal of Post Keynesian Economics

This paper proposes a critical integration of the contributions of Marx and Keynes, guided by the foundational principles that characterize the capitalist economy as a monetary production economy. Building upon the original framework developed by Cardim de Carvalho—encompassing production, dominant strategy, temporality, non-ergodicity, coordination, and the properties of money—and incorporating the extensions proposed by Oliveira (forthcoming)—namely, the endogeneity of money, the hierarchy of currencies, and financial indebtedness/instability—it is argued that both authors converge in their conceptualization of capitalism as a historically specific economic formation structured by monetary and financial relations.

Full article: https://doi.org/10.1080/01603477.2025.2582144