What are the reproduction schemes of Karl Marx?

Abstract

This essay aims to present, in a didactic way, the problem of realization or effective demand, which Karl Marx exposes in the last chapters of Vol. 2 of Capital, through his reproduction schemes. The fundamental hypothesis is that these schemes deal with the self-reproduction of social capital, whose limitation is given by endogenous factors. The main conclusions are: (i) that productive consumption matters in the analysis of the realization of social capital and cannot be neglected, as Adam Smith did; (ii) that the sectors responsible for the production of goods which are productively consumed (Department I) set the tone for the accumulation of capital that occurs in the sectors responsible for the production of goods individually consumed (Department II); (iii) that the reproduction schemes present a part of the Marxian crisis theory, being responsible for presenting the reasons why such phenomenon is endogenous.