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Transformational Growth and Effective Demand
This collection of essays develops Edward Nell's influential theory of transformational growth. Nell sets established concepts such as the classical notion of prices of production and the wage-profit frontier within a significant new framework that illustrates their role in the dynamic evoution of the industrial system from its beginnings in feudalism through the early capitalism of the family firms to the modern system of effective demands and multiplier adjustments. The essays present the method and its relation to the capital critique before developing the main ideas of transformational growth through a series of historical studies culminating in a revised theory of the multiplier. Outlining policies which strongly affirm an expansionist approach, Nell porposes a reconstruction of macroeconimics.
Making Sense of a Changing Economy
In Making Sense of Economics Edward Nell presents an unorthodox and original view of the current state of economic theory and policies. Deriding the general trend for 'econobabble', the author explains the reason why conventional wisdom in economics now seems irrelevant and looks to likely future scenarios. Entertaining throughout, Nell employs a lightness of touch and wit not generally associated with economic literature. It is an accessible and enjoyable read which requires minimal prior knowledge of econoimcs. It will appeal to those who care what is really happening in the economy.
Rational Economic Man
Discusses the alliance between economics and philosophy.
Political Economy and Contemporary Capitalism
This volume covers the theoretical method, macroeconomics, microeconomics, international trade and finance, development, and policy of economic theory. It incorporates various alternative approaches as well as a broad spectrum of policy issues.
The State, the Market, and the Euro
Is the theory of money that underlies most modern macroeconomics well-grounded? What determines the value of a currency, and how is the state's power over its currency related to its ability to stabilize prices and employment? Charles Goodhart's classic paper 'The Two Concepts of Money: Implications for the Analysis of Optimal Currency Areas' which first raised these questions is reprinted here, and the distinguished authors expand its line of argument and comment on its central themes. The issues discussed are of fundamental importance in contemporary monetary theory and policy. The State, the Market and the Euro presents two sharply contrasting theories of money - Chartalist and Metallist - and the resulting equally sharply contrasting approaches to macroeconomic policy. Academic monetary, financial and political economists will find this book of great interest as will policymakers, financial analysts and journalists.
The Real World of the New Economy
Economist and author, Steven Waller, provides readers with economic information outside the conventional school of thought based on relatively unknown economic theories. He states that the so-called New Economy is redundant except in static traditional economic thinking. The economy is always new, always changing, and on a path determined by our society and culture. The Heterodox Triad of Understanding provides readers with a basic method to view the economy.
Classical Political Economy and Modern Theory
Heinz Kurz is recognised internationally as a leading economic theorist and a foremost historian of economic thought. This book pays tribute to his outstanding contributions by bringing together a unique collection of new essays by distinguished economists from around the world. Classical Political Economy and Modern Theory comprises twenty essays, grouped thematically into five sections. Part I examines political economy and its critique, Part II looks at entrepreneurship, evolution and income distribution, Part III discusses Cambridge, Keynes and macroeconomics, Part IV explores crisis and cycles, whilst Part V is dedicated to personal reminiscences. The essays in this book will be an invaluable source of inspiration for economists interested in economic theory and in the evolution of economic thought. They will also be of interest to postgraduate and research students specialising in economic theory and in the history of economic thought.
Rational Econometric Man
•If you are interested in understanding the underlying philosophical reasons why structural econometrics seems dead, read this book. Not only do the authors provide a comprehensive, stimulating, and provocative account of the debate and literature, the
Nicholas Kaldor and Mainstream Economics
An examination of the role of Nicholas Kaldor within economics. Topics covered range from Kaldor's discovery of the Von Neumann input-output model, to cyclical growth in a Kaldorian model, to Nicholas Kaldor as advocate of commodity reserve currency.
Growth, Distribution and Effective Demand
Growth, Distribution, and Effective Demand presents original essays on a variety of topics in theoretical and applied economics. The book honors the work of Edward J. Nell and develops interconnected themes that run through the modern Post-Keynesian tradition. The first part deals with the fundamental idea that economic growth is demand-driven, with special attention to policy ramifications. The second theme concerns the connection between economic growth and the structural characteristics of a market economy. These issues are closely linked to a critical tradition that calls into question key elements in orthodox economics. The final part of the book aims to buttress non-orthodox approaches to growth and distribution by critiquing particular aspects of the conventional theory, by elaborating neglected themes in non-orthodox theory, or by exploring some overlooked methodological ideas.
