Contending Economic Theories: Neoclassical, Keynesian, and Marxian by Richard D. Wolff, Stephen A. Resnick (Paperback, 2012)
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- DescriptionContending Ecomic Theories offers a unique comparative treatment of the three main theories in ecomics as it is taught today: neoclassical, Keynesian, and Marxian. Each is developed and discussed in its own chapter, yet also differentiated from and compared to the other two theories. The authors identify each theory's starting point, its goals and foci, and its internal logic. They connect their comparative theory analysis to the larger policy issues that divide the rival camps of theorists around such central issues as the role government should play in the ecomy and the class structure of production, stressing the different analytical, policy, and social decisions that flow from each theory's conceptualization of ecomics. The authors, building on their earlier book Ecomics: Marxian versus Neoclassical, offer an expanded treatment of Keynesian ecomics and a comprehensive introduction to Marxian ecomics, including its class analysis of society. Beyond providing a systematic explanation of the logic and structure of standard neoclassical theory, they analyze recent extensions and developments of that theory around such topics as market imperfections, information ecomics, new theories of equilibrium, and behavioral ecomics, considering whether these advances represent new paradigms or merely adjustments to the standard theory. They also explain why ecomic reasoning has varied among these three approaches throughout the twentieth century, and why this variation continues today--as neoclassical views give way to new Keynesian approaches in the wake of the ecomic collapse of 2008.
- Author BiographyRichard D. Wolff is Professor of Economics Emeritus at the University of Massachusetts, Amherst, and Visiting Professor in the Graduate Program in International Affairs at the New School, New York. Stephen A. Resnick is Professor of Economics Emeritus at the University of Massachusetts, Amherst. Wolff and Resnick are the authors of Economics: Marxian versus Neoclassical.
- Author(s)Richard D. Wolff,Stephen A. Resnick
- PublisherMIT Press Ltd
- Date of Publication18/09/2012
- SubjectEconomics: Professional & General
- Place of PublicationCambridge, Mass.
- Country of PublicationUnited States
- ImprintMIT Press
- Content Note27 figures, 8 tables
- Weight567 g
- Width152 mm
- Height229 mm
- Spine17 mm
- Format DetailsTrade paperback (US)
- Interest AgeFrom 18
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