Comparing Research Of Marx's Macro-economic Theory And Keynes' Macro-economic Theory

Marx inspected the capitalist economy as a macro-micro integrated whole from the commodities in his "Das Kapital", analyzed the economic gross and structure and operations deeply, and explained the capitalist economic development trend. This paper points out that Marx clarified the capitalist macroeconomic performance through value theory, monetary theory, reproduction theory and distribution theory. Single capital in the profit-driven motives chases excess value. Law of pro-rata to the total social labor in a competitive relationship regulates the total social capital. But in a capitalist economic relations law of pro-rata to the total labor failed to play its role. In currencies economic relations currency accumulation may be the same with the actual accumulation, may also inconsistent. In the law of organic composition of capital rising income distribution led to the impoverishment of the working class and cyclical decline in effective demand. So the capitalist economic crisis is unavoidable. Keynes is recognized as the modern macroeconomics founder. This paper points out that Keynes' macroeconomic theory is on the basis of three major psychological law: reduced marginal propensity to consume, liquidity preference, decreased marginal efficiency of capital. This paper compares the two theories from six aspects: theory starting point; the basis for the theory; imbalance in the market and the reasons for it; analysis of the economic gross; structural analysis; policy value of the theory. This paper further points out that compared with Keynes' macroeconomic theory Marx's macroeconomic theory can explain economic reality better. We should restructure China's macroeconomic policies to promote a harmonious and stable economic development on the basis of Marx's theory.