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.

Contains section : Book reviews.

This major book presents a comprehensive treatment of modern capital theory. It brings together in a balanced and systematic way, the various approaches to capital theory which have emerged or re-emerged in the most recent controversies on the subject. The book focuses on the main approaches namely simple neoclassical, neo-Austrian, Cambridge and disaggregative intertemporal. In conclusion, the book introduces and applies chaos theory with an assessment of its potential for the future development of the subject.

British economist Peacock compiles 23 articles, most originally published in the 1980s and 1990s, representing his views of economic freedom, including its underlying philosophy, its influence on the critique of economic policy, and the problems encountered in expanding it. They represent his diverse experience, ranging from academic speculation to close involvement with policy issues. Though stooping occasionally to mathematics, he addresses officials in business and government, social scientists, and philosophers who want to know what economists are talking about with all their numbers. Annotation copyrighted by Book News, Inc., Portland, OR