Value, Distribution and Capital: Essays in Honour of Pierangelo Garegnani (Routledge Frontiers of Political Economy, 12)

This book explores some of the most important themes in neo-Ricardian economics. It explores the many contributions of Pierangelo Garengnani to modern economics, including his work in capital theory, the theory of effective demand and stability analysis. Contributors include Paul Samuelson, John Eatwell, Murray Milgate, Edward Nell, Alessandro Roncaglia and Ian Steedman. Book Cover......Page 1 Half-Title......Page 3 Title......Page 7 Copyright......Page 8 Contents......Page 11 Contributors......Page 13 1 Introduction......Page 14 Part I The critique of neoclassical theory......Page 28 2 Professor Hahn on the ‘neo-Ricardian’ criticism of neoclassical economics......Page 29 3 Classical and neoclassical short-run prices......Page 73 4 Some deficiencies of Walrasian intertemporal general equilibrium......Page 95 5 From utilitarianism to marginal utility......Page 107 6 Use value and the ‘commercial knowledge of commodities’......Page 122 7 From classical rent theory to marginal productivity theory......Page 143 8 Social accounting with Adam Smith......Page 161 9 The notion of the subsistence wage in pre-Smithian classical political economy......Page 176 10 Ricardo and the wages fund......Page 197 11 The special thing I learned from Sraffa......Page 223 Part III Accumulation and technical change in the light of the surplus approach......Page 232 12 New and old neoclassical growth theory......Page 233 13 Wicksell after Sraffa......Page 256 Part IV Issues in the theory of production......Page 282 14 Transferable machines with uniform efficiency paths......Page 283 15 Vertical integration and ‘reduction to dated quantities of labour’......Page 299 Part V The surplus approach and economic policy......Page 304 16 High public debt and inflation......Page 305 17 The government sector in the post-Keynesian theory of growth and personal distribution......Page 321 Appendix Pierangelo Garegnani’s publications......Page 335 Name index......Page 339 Subject index......Page 345 1. Introduction / Gary Mongiovi -- 2. Professor Hahn On The 'neo-ricardian' Criticism Of Neoclassical Economics / Fabio Petri -- 3. Classical And Neoclassical Short-run Prices: A Comparative Analysis Of Their Intended Empirical Content / Roberto Ciccone -- 4. Some Deficiencies Of Walrasian Intertemporal General Equilibrium / John Eatwell And Murray Milgate -- 5. From Utilitarianism To Marginal Utility / Alessandro Roncaglia -- 6. Use Value And The 'commercial Knowledge Of Commodities': Reflections On Aristotle, Savary And The Classics / Bertram Schefold -- 7. From Classical Rent Theory To Marginal Productivity Theory: The Works Of F.b.w. Hermann And J.h. Von Thunen / Heinz D. Kurz. Edited By Gary Mongiovi And Fabio Petri. Includes Bibliographical References And Indexes. Exploring the many contributions of Pierangelo Garengnani to modern economics, this book covers his work on capital theory, the theory of effective demand and stability analysis. Pierangelo Garegnani's work has been central to the modern revival of the classical political economy tradition pioneered by Smith, Ricardo and Marx.