No. 913: Computational Methods and Classical-Marxian Economics

Jonathan F. Cogliano , University of Massachusetts Boston
Roberto Veneziani , Queen Mary University of London
Naoki Yoshihara , Kochi University of Technology

October 1, 2020

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Abstract

his article surveys computational approaches to classical-Marxian economics. These approaches include a range of techniques { such as numerical simulations, agent-based models, and Monte Carlo methods { and cover many areas within the classical-Marxian tradition. We focus on three major themes in classical-Marxian economics, namely price and value theory; inequality, exploitation, and classes; and technical change, profitability, growth and cycles. We show that computational methods are particularly well-suited to capture certain key elements of the vision of the classical-Marxian approach and can be fruitfully used to make significant progress in the study of classical-Marxian topics.

J.E.L classification codes: C63, B51, B41

Keywords:Computational Methods; Agent-Based Models; Classical Economists; Marx.