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The Cambridge Revival of Political Economy
The marginalist revolution of the late nineteenth century consolidated what Karl Marx and Piero Sraffa called ‘vulgar economy’, bringing with it an emphasis on a scarcity theory that replaced the classical surplus theory. However, the classical political economy of Adam Smith and David Ricardo has been revived within the Cambridge economic tradition. This book looks at how different branches of the Cambridge economic tradition have focused on various aspects of this revival over time. The author shows that classical political economy is distinct from vulgar political economy in terms of its economic, social, and ethical theory, with each difference resting on an issue of ontology. Structured in three parts, the book examines the central contested aspects of these theories, namely the nature of value, the relationship between human beings and social structure, and the nature of human wellbeing. The Cambridge Revival of Political Economy will be relevant to students and researchers within the fields of political economy, history of economic thought, politics and philosophy.
The Routledge Handbook of Heterodox Economics
The Routledge Handbook of Heterodox Economics presents a comprehensive overview of the latest work on economic theory and policy from a ‘pluralistic’ heterodox perspective. Contributions throughout the Handbook explore different theoretical perspectives including: Marxian-radical political economics; Post Keynesian-Sraffian economics; institutionalist-evolutionary economics; feminist economics; social economics; Régulation theory; the Social Structure of Accumulation approach; and ecological economics. They explain the structural properties and dynamics of capitalism, as well as propose economic and social policies for the benefit of the majority of the population. This book aims, first...
Contributions to Social Ontology
Recent years have seen a dramatic re-emergence of interest in ontology. From philosophy and social sciences to artificial intelligence and computer science, ontology is gaining interdisciplinary influence as a popular tool for applied research. Contributions to Social Ontology focuses specifically on these developments within the social sciences. The contributions reveal that this revived interest in social ontology involves far more than an unquestioning acceptance or application of the concepts and methods of academic philosophers. Instead as ontology permeates so many new areas, social ontology itself is evolving in new and fascinating ways. This book engages with these new developments, pushing it forward with cutting-edge new material from leading authors in this area, from Roy Bhaskar to Margaret Archer. It also explicitly analyzes the relationship between the new ontological projects and the more traditional approaches. This book will be of great interest to students and researchers alike across the social sciences and particularly in philosophy, economics and sociology.
The End of Value-Free Economics
This book brings together key players in the current debate on positive and normative science and philosophy and value judgements in economics. Both editors have engaged in these debates throughout their careers from its early foundations; Putnam as a doctorial student of Hans Reichenbach at UCLA and Walsh a junior member of Lord Robbins’s department at the London School of Economics, both in the early 1950s. This book collects recent contributions from Martha Nussbaum, Amartya Sen and Partha Dasgupta, as well as a new chapter from the editors.
A Revolution in Economic Theory
This book draws on the work of one of the sharpest minds of the 20th century, Piero Sraffa. Ludwig Wittgenstein credited him for 'the most consequential ideas' of the Philosophical Investigations (1953) and put him high on his short list of geniuses. Sraffa's revolutionary contribution to economics was, however, lost to the world because economists did not pay attention to the philosophical underpinnings of his economics. Based on exhaustive archival research, Sinha presents an exciting new thesis that shows how Sraffa challenged the usual mode of theorizing in terms of essential and mechanical causation and, instead, argued for a descriptive or geometrical theory based on simultaneous relations. A consequence of this approach was a complete removal of 'agent's subjectivity' and 'marginal method' or counterfactual reasoning from economic analysis – the two fundamental pillars of orthodox economic theory.
Technology and Isolation
Combining classic philosophical ideas with groundbreaking recent developments in ontology, Lawson proposes a new ontology of technology, spanning several disciplines.
The Cambridge Revival of Political Economy
The marginalist revolution of the late nineteenth century consolidated what Karl Marx and Piero Sraffa called ‘vulgar economy’, bringing with it an emphasis on a scarcity theory that replaced the classical surplus theory. However, the classical political economy of Adam Smith and David Ricardo has been revived within the Cambridge economic tradition. This book looks at how different branches of the Cambridge economic tradition have focused on various aspects of this revival over time. The author shows that classical political economy is distinct from vulgar political economy in terms of its economic, social, and ethical theory, with each difference resting on an issue of ontology. Structured in three parts, the book examines the central contested aspects of these theories, namely the nature of value, the relationship between human beings and social structure, and the nature of human wellbeing. The Cambridge Revival of Political Economy will be relevant to students and researchers within the fields of political economy, history of economic thought, politics and philosophy.
Wellbeing Economics
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Facts, Values and Objectivity in Economics
Is Economics an ‘objective’ or ‘positive’ science, independent of ethical and political positions? The financial crisis that began in 2007 gave rise to renewed doubts regarding the ‘objectivity’ of economics and brought into the public arena a debate that was previously confined to academia. A remarkable feature of the public debate on the value neutrality of economics since then was that it not only involved indictments of ideological biases in economic theory, but also the attribution of the crisis itself to the unethical orientation of economic agents, of economists acting as experts and of ‘economic science’ itself. The contributors to this volume believe that economists of all persuasions are once again compelled to probe the normative foundations of their discipline and give a public account of their doubts and conclusions.
A Reflection on Sraffa’s Revolution in Economic Theory
This book presents a substantial collection of essays from a wide range of well respected scholars addressing several aspects of Piero Sraffa’s economics in light of continuing controversies over the interpretation that should be placed on his work. It moves beyond extant scholarship with an added emphasis on the philosophical dimension of Sraffa’s seminal work, Production of Commodities by Means of Commodities. Contributors probe new ways of thinking about the political economy of Sraffa and in doing so, alongside the comments to each contribution by other scholars, provide a cutting edge debate and discussion on non-mainstream economic theory. This book will be of interest to academics and advanced graduate students in economics, with additional interest from scholars in philosophy and the methodology of science.
