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Marx And Non-Equilibrium Economics

Marx And Non-Equilibrium Economics

Alan Freeman , Guglielmo Carchedi

Edited by Alan Freeman, former Lecturer in Economics, University of Greenwich, UK and Guglielmo Carchedi, Hoofddocent, Faculty of Economics and Econometrics, University of Amsterdam, The Netherlands

1996 336 pp Hardback 978 1 85898 268 7
ebook isbn 978 1 78195 612 0

Hardback £96.00 on-line price £86.40

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Description
‘The contributions of this volume to the reading of Marx’s theory of value are solid and considerable.’
– Duncan Foley, Eastern Economic Journal

‘. . . a provocative book.’
– John E. King, Economic Record

‘This volume will be of interest to graduate students and faculty.’
– A. Balinky, Choice

This new volume develops a rigorous equilibrium-free political economy based on labour values. Rooted in a non-dualistic approach restoring money to its central role in a commodity economy, Marx and Non-Equilibrium Economics is the fruit of extensive international collaboration reflecting a profound critical reappraisal of Marx’s theoretical work and its relation to modern economics.

Contents

Further information

This major volume develops a rigorous equilibrium-free political economy based on labour values. Rooted in a non-dualistic approach restoring money to its central role in a commodity economy, Marx and Non-Equilibrium Economics is the fruit of extensive international collaboration reflecting a profound critical reappraisal of Marx's theoretical work and its relation to modern economics.

This major book reconstructs classical Marxist explanations for many of the most important phenomena of the day, including mass poverty, unequal development, and endemic economic crisis. The authors vindicate Marx's most contentious propositions, showing how the profit rate falls despite continuous technical innovation and how values are transformed into prices, preserving his famous 'two equalities'.

Destined to become a reference text for both Marxists and non-Marxists dissatisfied with the neoclassical synthesis, Marx and Non-Equilibrium Economics is a decisive break with the economic conventions of the Twentieth Century.

Full table of contents

Contents: Foreword (A. Freeman, G. Carchedi) Introduction 1. The Psychopathology of Walrasian Marxism (A. Freeman) 2. One System or Two? The Transformation of Values into Prices of Production Versus the Transformation Problem (T. McGlone, A. Kliman) 3. The Transformation of Values into Prices of Production: A Different Reading of Marx’s Text (A. Ramos-Martinez, A. Rodriguez-Herrera) 4. Money, the Postulates of Invariance and the Transformation of Marx into Ricardo (A. Rodriguez-Herrera) 5. Time, Money, Equilibrium: Methodology and the Labour Theory of the Profit Rate (M.I. Naples) 6. The Value of Money, the Value of Labour Power and the Net Product: An Appraisal of the ‘New Approach’ to the Transformation Problem (A. Saad-Filho) 7. The Transformation Procedure: A Non-Equilibrium Approach (A. Carchedi, W. de Haan) 8. Non-Equilibrium Market Prices (A. Carchedi) 9. Demand, Supply and Market Prices (P. Giussani) 10. A Value-Theoretic Critique of the Okishio Theorem (A. Kliman) 11. Price, Value and Profit – A Continuous, General, Treatment (A. Freeman) Bibliography Index
Contributors: A. Carchedi, W. de Haan, A. Freeman, P. Giussani, A. Kliman, A. Ramos-Martinez, T. McGlone, M.I. Naples, A. Rodríguez-Herrera, A. Saad-Filho



 
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