A formalisation of Elster's interpretation of Marx's theory of revolution is presented in terms of a one sector model with continuous substitution, land as a factor of production and a particular population theory. A justification for calling such a model Marxian is given. Then, it is shown that the revolution may occur only if the drag caused by the fixed supply of land is greater than the force of technical progress. © 2000 Elsevier Science B.V.
|Journal||Journal of Economic Behavior and Organization|
|Publication status||Published - 1 Feb 2000|