By Ajit Sinha
This publication offers a accomplished account of greater than two hundred years of controversy at the classical theories of price and distribution. the writer specializes in 4, might be most important, classics, viz., Adam Smith’s Wealth of Nations, David Ricardo’s Principles of Political Economy, Karl Marx’s Capital and Piero Sraffa’s Production of Commodities by way of Commodities. The e-book highlights a number of major ameliorations within the theories of the 4 authors because it searches for the ‘classical viewpoint’ that separates them from the ‘moderns’. It throws clean gentle on a few outdated questions whereas introducing new, debatable interpretations within the literature surrounding it. it's special in its employer because it first offers the author’s shut interpreting of the theories of worth and distribution within the 4 classics after which significantly engages with the most important substitute interpretations and criticisms of the theories mentioned therein.
Bringing unique insights on theoretical positions, the ebook demanding situations canonical interpretations with the intention to speak about and examine the failings and weaknesses, as well as the already noticeable strengths, of largely celebrated theories. The theories mentioned right here emerge from questions like: what position does call for or human psychology play within the decision of price in classical conception? Do classical economists make certain the distribution of source of revenue in the context of a conception of costs and source allocation? What function does the idea of ‘equilibrium’ play in classical concept and the idea of Sraffa?
It will attract teachers and scholars of financial concept and philosophy, in addition to to the overall reader.
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