Radical Political Economy: Sraffa Versus Marx
| Author | : | |
| Rating | : | 4.35 (628 Votes) |
| Asin | : | 1138050024 |
| Format Type | : | paperback |
| Number of Pages | : | 118 Pages |
| Publish Date | : | 2016-05-07 |
| Language | : | English |
DESCRIPTION:
The book is to be recommended to all interested in the development of political economy.’ Heinz Kurz, Professor of Economics, University of Graz, Vienna Austria, Co-author with Neri Salvadori of Theory of Production (1995) and author of Economic Thought (2016).. He makes it very clear that Sraffa's analysis has the advantage of not being marred by logical inconsistencies and thus overcomes the impasse into which labour-value based reasoning has got. In a detailed, profound and highly readable investigation he expounds the analytical fecundity of the modern classical approach. ‘In Radical Political Economy: Sraffa Versus Marx, Robin Hahnel argues persuasively that there is an equally radical but far m
Robin Hahnel is Professor Emeritus at the Department of Economics, American University Washington DC, USA. He is also the Co-Director of Economics for Equity and the Environment and has published widely in the fields of radical political economy and environmental economics.
However it is time to use intellectual tools unavailable to Marx in the nineteenth century to improve upon his formal analysis. People have had to choose between (1) continuing to use a formal model based on the labor theory of value as Marx developed in Capital to justify and retain one’s opposition to capitalism, or (2) abandoning the formal Marxian framework as outdated, and risk losing a critical evaluation of capitalism. Both Marxian and Sraffian theories are presented in a highly accessible way, while large professional literatures are thoroughly referenced throughout.Marx was not the first, but remains the greatest, critic of capitalism, and richly deserves his place in history. Radical Political Economy: Sraffa Versus Marx provides readers with a third choice.A point-by-point comparison of Sraffian and Marxian treatments of prices, profits, technological change, economic crises, environmental sustainability, and the moral case against capitalism, are presented in six core chapters. They explain how the Sraffian treatment surpasses the formal Marxian treatment in every case. For too long radical political economy has suffered for lack of a coherent alternative to formal Marxian economic theory. This book is of great importance to those who study Sraffa and Marx, as well as academics and students who are interested in political economy, the history of economic th