Contending Economic Theories: Neoclassical, Keynesian, and Marxian

Paperback (Print)
Buy New
Buy New from BN.com
$31.12
Used and New from Other Sellers
Used and New from Other Sellers
from $23.98
Usually ships in 1-2 business days
(Save 35%)
Other sellers (Paperback)
  • All (13) from $23.98   
  • New (10) from $23.75   
  • Used (3) from $26.68   

Overview

Contending Economic Theories offers a unique comparative treatment of the three main theories in economics as it is taught today: neoclassical, Keynesian,and Marxian. Each is developed and discussed in its own chapter, yet also differentiated from and compared to the other two theories. The authors identify each theory's starting point, its goals and foci, and its internal logic. They connect their comparative theory analysis to the larger policy issues that divide the rival camps of theorists around such central issues as the role government should play in the economy and the class structure of production, stressing the different analytical, policy, and social decisions that flow from each theory's conceptualization of economics. The authors, building on their earlier book Economics: Marxian versusNeoclassical, offer an expanded treatment of Keynesian economics and a comprehensive introduction to Marxian economics, including its class analysis of society. Beyond providing a systematic explanation of the logic and structure of standard neoclassical theory, they analyze recent extensions and developments of that theory around such topics as market imperfections,information economics, new theories of equilibrium, and behavioral economics, considering whether these advances represent new paradigms or merely adjustments to the standard theory. They also explain why economic reasoning has varied among these three approaches throughout the twentieth century, and why this variation continues today—as neoclassical views give way to new Keynesian approaches in the wake of the economic collapse of 2008.

Read More Show Less

What People Are Saying

From the Publisher
"Clear, comprehensive, and brimming with provocative insights, this new book byRichard Wolff and Stephen Resnick's book is a much-needed presentation of the three theories —neoclassical, Keynesian, and Marxist — that make up the contested terrain of contemporary economics. There is simply no other text that brings together the material assembled here.

Throughout, the authors are sensitive to the causes and consequences of theoretical differences and demonstrate — to teachers and students of economics, and to everyone else who wants to learn about economic debates in the world today — that economic theories really do matter."—David F. Ruccio, Professor of Economics, University of NotreDame

"At a time when the world is in an economic tailspin, confusion over the 'dismal science' has never been more pronounced. By carefully describing neo-classical microeconomics andKeynesian macro-economics, and by juxtaposing both to Marxian economic theory, Richard Wolff andStephen Resnick provide an essential guide for building a more just future."—DavidFasenfest, Wayne State University; editor, Critical Sociology

"Richard Wolff and Stephen Resnick treat their readers as adults who can, and in fact must, choose among theories, rather than as children who need to be spoon-fed the truth. Their clear and creative presentation of the different entry points, logics and conclusions of neoclassical, Keynesian and Marxian theories makes this by far the best comparative treatment of economics available today. Readers will have a grasp of the history of these theories as well as the latest developments in them, and will see how theories change in mutual interaction with changes in the economy. Which theory we choose to follow matters profoundly. Contending Economic Theories gives students the tools to choose for themselves. " —Richard McIntyre,University Honors Program Director, Professor of Economics, University of Rhode Island

Read More Show Less

Product Details

  • ISBN-13: 9780262517836
  • Publisher: MIT Press
  • Publication date: 9/30/2012
  • Pages: 424
  • Sales rank: 536,436
  • Product dimensions: 8.90 (w) x 6.00 (h) x 0.90 (d)

Meet the Author

Richard D. Wolff is Professor of Economics Emeritus at the University ofMassachusetts, Amherst, and Visiting Professor in the Graduate Program in International Affairs at the New School, New York. Wolff and Resnick are the authors of Economics: Marxian versusNeoclassical.

Stephen A. Resnick was Professor of Economics Emeritus at the University ofMassachusetts, Amherst.

Read More Show Less

Table of Contents

Detailed Table of Contents vii

To Our Readers xiii

Acknowledgments xvi

1 Three Different Theories 1

2 Neoclassical Theory 51

3 Keynesian Theory 105

4 Marxian Theory 133

5 Late Neoclassical Theory Yahya M. Madra 251

6 Oscillations in Capitalism and among Economic Theories 311

7 The Importance of Theoretical Differences 347

Notes 379

References 383

Index 387

Read More Show Less

Customer Reviews

Average Rating 5
( 1 )
Rating Distribution

5 Star

(1)

4 Star

(0)

3 Star

(0)

2 Star

(0)

1 Star

(0)

Your Rating:

Your Name: Create a Pen Name or

Barnes & Noble.com Review Rules

Our reader reviews allow you to share your comments on titles you liked, or didn't, with others. By submitting an online review, you are representing to Barnes & Noble.com that all information contained in your review is original and accurate in all respects, and that the submission of such content by you and the posting of such content by Barnes & Noble.com does not and will not violate the rights of any third party. Please follow the rules below to help ensure that your review can be posted.

Reviews by Our Customers Under the Age of 13

We highly value and respect everyone's opinion concerning the titles we offer. However, we cannot allow persons under the age of 13 to have accounts at BN.com or to post customer reviews. Please see our Terms of Use for more details.

What to exclude from your review:

Please do not write about reviews, commentary, or information posted on the product page. If you see any errors in the information on the product page, please send us an email.

Reviews should not contain any of the following:

  • - HTML tags, profanity, obscenities, vulgarities, or comments that defame anyone
  • - Time-sensitive information such as tour dates, signings, lectures, etc.
  • - Single-word reviews. Other people will read your review to discover why you liked or didn't like the title. Be descriptive.
  • - Comments focusing on the author or that may ruin the ending for others
  • - Phone numbers, addresses, URLs
  • - Pricing and availability information or alternative ordering information
  • - Advertisements or commercial solicitation

Reminder:

  • - By submitting a review, you grant to Barnes & Noble.com and its sublicensees the royalty-free, perpetual, irrevocable right and license to use the review in accordance with the Barnes & Noble.com Terms of Use.
  • - Barnes & Noble.com reserves the right not to post any review -- particularly those that do not follow the terms and conditions of these Rules. Barnes & Noble.com also reserves the right to remove any review at any time without notice.
  • - See Terms of Use for other conditions and disclaimers.
Search for Products You'd Like to Recommend

Recommend other products that relate to your review. Just search for them below and share!

Create a Pen Name

Your Pen Name is your unique identity on BN.com. It will appear on the reviews you write and other website activities. Your Pen Name cannot be edited, changed or deleted once submitted.

 
Your Pen Name can be any combination of alphanumeric characters (plus - and _), and must be at least two characters long.

Continue Anonymously
Sort by: Showing 1 Customer Reviews
  • Anonymous

    Posted December 14, 2012

    No text was provided for this review.

Sort by: Showing 1 Customer Reviews

If you find inappropriate content, please report it to Barnes & Noble
Why is this product inappropriate?
Comments (optional)