Sraffa and the Reconstruction of Economic Theory: Volume Two [electronic resource] : Aggregate Demand, Policy Analysis and Growth /
Levrero, Enrico Sergio.editor.
Palumbo, Antonella.editor.
Stirati, Antonella.editor.
Written on the occasion of the 50th anniversary of the publication of Piero Sraffa's Production of Commodities by Means of Commodities, the papers selected and contained in Sraffa and the Reconstruction of Economic Theory account for the work completed around the two central aspects of his contribution to economic analysis, namely the criticism of the neoclassical (or marginalist) theory of value and distribution, and the reconstruction of economic theory along the lines of the Classical approach. Divided into three volumes, Sraffa and the Reconstruction of Economic Theory debates the most fruitful routes for advancement in this field and their implications for applied and policy analysis. This second volume focuses on the theory of output and growth as developed in the modern classical approach on the basis of the extension to the long run of the Keynesian principle of effective demand, and on the implications of the revival of the classical approach for policy analysis and for understanding the evolution of the international economic order in the last few decades.
Description based upon print version of record.
Cover; Contents; List of Tables and Figures; Preface; Acknowledgements; List of Contributors; Introduction; Part I: Demand-Led Growth in the Classical Approach; 1 Public Debt and Aggregate Demand: Some Unconventional Analytics; 2 The Inevitable Dependence of Investment on Expected Demand: Implications for Neoclassical Macroeconomics; 3 The Meaning of Output Trends in the Analysis of Growth; 4 Potential Output and Demand-Led Growth; 5 A Historical Approach to Demand-Led Growth Theory; 6 Normal Paths of Growth Shaped by the Supermultiplier
7 The Pattern of Economic Growth of the Brazilian Economy 1970-2005: A Demand-Led Growth PerspectivePart II: Understanding the International Economic Order; 8 Continuity and Change in the International Economic Order: Towards a Sraffian Interpretation of the Changing Trend of Commodity Prices in the 2000s; 9 The Political Economy of the Rise and Decline of Developmental States; 10 Harmonic and Conflict Views in International Economic Relations: a Sraffian View; 11 Lessons from the Crisis: the Macroeconomics of Leverage; Index
Includes bibliographical references and index.
Written on the occasion of the 50th anniversary of the publication of Piero Sraffa's Production of Commodities by Means of Commodities, the papers selected and contained in Sraffa and the Reconstruction of Economic Theory account for the work completed around the two central aspects of his contribution to economic analysis, namely the criticism of the neoclassical (or marginalist) theory of value and distribution, and the reconstruction of economic theory along the lines of the Classical approach. Divided into three volumes, Sraffa and the Reconstruction of Economic Theory debates the most fruitful routes for advancement in this field and their implications for applied and policy analysis. This second volume focuses on the theory of output and growth as developed in the modern classical approach on the basis of the extension to the long run of the Keynesian principle of effective demand, and on the implications of the revival of the classical approach for policy analysis and for understanding the evolution of the international economic order in the last few decades.
Economic history.
Economic theory.
Macroeconomics.
History of Economic Thought/Methodology.
Economic Theory/Quantitative Economics/Mathematical Methods.
Macroeconomics/Monetary Economics//Financial Economics.
Economic History.