Effective Demand and Income Distribution

Effective Demand and Income Distribution : Issues in Alternative Economic Theory

  • Hardback
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Description

This book offers a critical exposition and comparison of the major non-neoclassical economic theories: post-Keynesian, neo-Ricardian and neo-Marxian. These theories are evaluated with respect to their analyses of capital accumulation, income distribution, finance and relative price formation. The result is a survey of the "alternative" literature and its relation to mainstream economic theory. Since much alternative theory is inherently dynamic, the evolution of existing theories is used as a point of departure for developing a range of growth cycle models. The author shows that these models can be elaborated in a way which takes account of problems of effective demand and variable capacity utilization. Together the models extend the idea that growth and cycles are generated endogenously, and by the same processes, in capitalist economies. This book will be of interest to advanced students of economics and professional economists interested in non-neoclassical theory, business-cycle theory, finance and growth.show more

Product details

  • Hardback | 208 pages
  • 152.4 x 228.6 x 20.32mm | 362.87g
  • Polity Press
  • Oxford, United Kingdom
  • 0745601855
  • 9780745601854

Table of contents

Alternative routes to alternative theory; capital accumulation and cycles; money, finance and the rate of profit; wages and the wage share; the classical theory of price and some of its uses; concluding notes.show more