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In recent years there has been a growing dissatisfaction with standard economic theorising which has fostered the development of alternative ways of understanding how economies actually work. Too often though these approaches have been developed in isolation, or even in opposition to each other. However, Interactions in Political Economy, demonstrates that the different heterodox approaches to economics have much to learn from each other. Economists working within different paradigms, including Post Keynesian, Marxism and Neo-Ricardian economics address a wide range of issues in methodology, the history of economics, theory and policy. The result is a wealth of insight into how economics ought to be done, how various theoretical approaches dovetail, and the efficiency of various approaches to economic theory. The volume reflects the diversity and quality of the annual Great Malvern Political Economy. Contributors include some of the leading names in heterodox economics John Cornwall, Paul Davidson, Kevin Hoover, Philip Mirowski and Ed Nell.
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I N T E R AC T I O N S I N P O L I T I C A L ECONOMY
In recent years there has been a growing dissatisfaction with standard economic theorizing. This has fostered the development of alternative ways of understanding how economies actually work. Too often though these approaches have been developed in isolation, or even in opposition to each other. Interactions in Political Economy demonstrates that the different heterodox approaches to economics have much to learn from each other. Economists working within different paradigms, including post-Keynesianism, Marxism and neo-Ricardian economics address a wide range of issues in methodology, the history of economics, theory and policy. The result is a wealth of insight into how economics ought to be done, how various theoretical approaches dovetail, and the effectiveness of various approaches to economic policy. The volume reflects the diversity and quality of the annual Great Malvern Political Economy conferences. Contributors include some of the leading names in heterodox economics: John Cornwall, Paul Davidson, Kevin Hoover, Philip Mirowski and Ed Nell. Steven Pressman is Professor of Economics and Finance at Monmouth University, co-editor of the Review of Political Economy, and Associate Editor of the Eastern Economic Journal. He is the co-editor of Women in the Age of Economic Transformation (1994) and the author of Quesnay’s Tableau Economique: A Critique and Reassessment (1994). His research and writing is primarily in the areas of poverty, public finance, post-Keynesian macroeconomics and the history of economic thought.
ROUTLEDGE FRONTIERS OF POLITICAL ECONOMY
1 EQUILIBRIUM VERSUS UNDERSTANDING Towards the Rehumanization of Economics within Social Theory Mark Addleson 2 EVOLUTION, ORDER AND COMPLEXITY Edited by Elias L.Khalil and Kenneth E.Boulding 3 INTERACTIONS IN POLITICAL ECONOMY Malvern After Ten Years Edited by Steven Pressman 4 THE END OF ECONOMICS Michael Perelman 5 PROBABILITY IN ECONOMICS Omar F.Hamouda and Robin Rowley
I N T E R AC T I O N S I N POLITICAL ECONOMY Malvern After Ten Years
Edited by Steven Pressman
London and New York
First published 1996 by Routledge 11 New Fetter Lane, London EC4P 4EE Simultaneously published in the USA and Canada by Routledge 29 West 35th Street, New York, NY 10001 This edition published in the Taylor & Francis e-Library, 2003. Routledge is an International Thomson Publishing company © 1996 Steven Pressman All rights reserved. No part of this book may be reprinted or reproduced or utilized in any form or by any electronic, mechanical, or other means, now known or hereafter invented, including photocopying and recording, or in any information storage or retrieval system, without permission in writing from the publishers.