Growth, Profits and Property
Essays in the Revival of Political Economy

This collection of essays is designed to present the variety, complexity, and power of non-neoclassical economic thinking to serious undergraduates.

Edward J. Nell (Edited by)

9780521319188, Cambridge University Press

Paperback, published 31 August 1984

320 pages
25.4 x 17.8 x 1.7 cm, 0.56 kg

' … it is a very welcome book, and its blend of constructive and destructive criticism of the neoclassical view of capitalism is generally quite effective …' The Economic Journal

This collection of essays is designed to illustrate the variety, complexity and power of non-neoclassical economic thinking. The essays define the fundamental questions differently, employ different analytical tools and arrive at different conclusions. The two strands of non-neoclassical thinking that occupy most of the book are the neo-Keynesian and the neo-Marxian. The bulk of the book is composed of essays on microeconomics, macroeconomics, trade, comparative systems and welfare, with an unusual section on property rights and social hierarchy.

Introduction Cracks in the neoclassical mirror: on the break-up of a vision Edward J. Nell
Part I. Class relations in circulation and production: 1. The revival of political economy Edward J. Nell
2. Robinson Crusoe and the secret of primitive accumulation Stephen Hymer
Part II. The Cambridge criticisms: 3. A postmortem on the neoclassical "parable" Donald J. Harris
4. The end of orthodox capital theory Scott Moss
5. Laws of production and laws of algebra: Humbug II Anwar Shaikh
Part III. Microeconomics: 6. Competition and price-taking behaviour Edward J. Nell
7. A general model of investment and pricing Alfred S. Eichner
Part IV. Macroeconomics: 8 Keynes's paradigm: a theoretical framework for monetary analysis Paul Davidson and J. A. Kregel
9. A post-Keynesian development model of the "Keynesian" model G. C. Harcourt
10. A simple framework for the analysis of taxation, distribution, and effective demand John Eatwell
11. A classical model of business cycles Alfredo Medio
Part V. International trade: 12. Internationalization of capital and international politics: a radical approach Stephen Hymer
13. The laws of international exchange Anwar Shaikh
Part VI. Property and welfare: 14. A radical critique of welfare economics E. K. Hunt
15. Property theory and orthodox economics David P. Ellerman
Part VII. Marxism and modern economics: 16. Marx, Keynes, and social change: is post-Keynesian theory neo-Marxist? J. A. Kregel
17. Cambridge economics as commodity fetishism Frank Roosevelt
Epilogue

Subject Areas: Economic theory & philosophy [KCA]