ABSTRACT
This chapter shows how ideas from the pantheon of political economy—Leontief, Keynes, Kalecki, Luxemburg, Graziani, Minsky—can be integrated into the reproduction schemes. It uses Marx's schemes of simple and reproduction to piece together different strands of political economy—not, that is, in a crude attempt at tight synthesis, but in a spirit of critical appraisal. The chapter also shows the monetary theories of Graziani and Minsky to overestimate the amount of borrowing required for reproduction, which has implications for how people might theorize financial fragility. The starting point for understanding the reproduction schemes is to set them in the context of Marx's method of abstraction. The first most abstract stage of Marx's method of abstraction is to start with simple circulation, where commodities circulate for commodities—as formulated by Marx in theopening chapters of Capital, volume 1. Under the social division of labor, the two departments exchange capital goods for consumption goods.
