This book covers a broad range of topics in the history of economics that have relevance to current economic theories. The author believes that one of the tasks for a historian of economics is to analyze and interpret theories currently outside the mainstream of economic theory, in this case non-Walrasian economics. By doing so, he argues, new directions and new areas for research can be developed that will extend the current theories. Familiar topics covered include: the division of labor, economies of scale, wages, profit, international trade, market mechanisms, and money. These are considered in the light of the well-known non-Walrasian schools of thought: the classical, Marxian, Austrian, and Cambridge schools.
| ISBN | 0521378605 | | Volumes | 1 | | ISBN13 | 9780521378604
(What's this?) | | Weight (grammes) | 330 | | Publisher | Cambridge University Press | | Published in | Cambridge | | Imprint | Cambridge University Press | | Series editor | Goodwin, Craufurd D. | | Format | Paperback | | Series title | Historical Perspectives on Modern Economics | | Publication date | 31 Mar 1989 | | Height (mm) | 228 | | Library of Congress | HB75 .N42 1985 | | Width (mm) | 152 | | DEWEY | 330.1 | | Spine width (mm) | 13 | | DEWEY edition | DC21 | | Academic level | Professional / Scholarly | | Pages | 220 | |
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Preface; 1. Anti-neoclassical or non-Walrasian economic theories; Part I. Increasing Returns and Diminishing Cost: 2. Adam Smith and increasing returns in a competitive situation; 3. A reconstruction of Smith's doctrine on the natural order of investment; 4. The possibility of a falling rate of profit under diminishing cost; 5. Rehabilitation of Marshall's life-cycle theory to explain diminishing cost; Part II. Wages and Profit: 6. Conditions for the wages fund doctrine and Mill's recantation of it; 7. Marx and exploitationd in production and in circulation; 8. Marx's dichotomy between exploitation and redistribution of surplus products; 9. Bohm-Bawerk and the positive rate of interest in a stationary state; Part III. International Trade and Investment: 10. The role of exporters and importers in classical and Keynesian theories; 11. Ricardo, the natural wage, and international unequal exchange; Part IV. Markets and Money: 12. Jevons, Edgeworth, and the competitive equilibrium of exchange; 3. Menger's Absatz-fahigkeit, a non-Walrasian theory of markets and money; 4. The marshallian foundation of macroeconomic theories; Notes; References; Author index; Subject index.
' ... a most impressive display of economic theory at its best.' History of Political Economy 'As a contribution to contemporary economic theory the volume is extremely successful; virtually every chapter contains something of interest.' Journal of Economic Literature
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