Contending Economic Theories: Neoclassical, Keynesian, and Marxian (MIT Press)

Contending Economic Theories: Neoclassical, Keynesian, and Marxian (MIT Press)

Richard D. Wolff


Contending monetary Theories bargains a special comparative remedy of the 3 major theories in economics because it is taught this present day: neoclassical, Keynesian, and Marxian. each one is built and mentioned in its personal bankruptcy, but additionally differentiated from and in comparison to the opposite theories. The authors establish each one theory's start line, its pursuits and foci, and its inner good judgment. They attach their comparative idea research to the bigger coverage matters that divide the rival camps of theorists round such relevant matters because the function executive may still play within the economic climate and the category constitution of creation, stressing the several analytical, coverage, and social judgements that move from every one theory's conceptualization of economics. The authors, development on their previous ebook Economics: Marxian as opposed to Neoclassical, supply an improved remedy of Keynesian economics and a complete advent to Marxian economics, together with its type research of society. past supplying a scientific clarification of the common sense and constitution of normal neoclassical concept, they research contemporary extensions and advancements of that idea round such issues as industry imperfections, info economics, new theories of equilibrium, and behavioral economics, contemplating no matter if those advances signify new paradigms or basically changes to the traditional conception. additionally they clarify why fiscal reasoning has various between those 3 techniques during the 20th century, and why this change maintains today--as neoclassical perspectives collapse to new Keynesian techniques within the wake of the commercial cave in of 2008.

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