Monday, June 18, 2007

"In Bitter Polemic"

"A case has been made for the observation that the modern contributions to economic understanding have not come from marginal economic analysis, but, on the contrary, they have mainly come out in bitter polemic with and as a challenge to it. And they deal with problems of production, not with the optimum allocation of scarce resources. Here we need only mention the modern (post-Keynesian) theory of production based on an open Leontief model, the Sraffian production and value models, and the Harrod-Domar dynamic macro models with the Kaleckian distribution and pricing models. This book looks into some of these developments as it analyzes the relationship between the accumulation of capital that underpins the growth pattern and the associated phenomena of pricing and distribution." -- Stanley Bober (1992). Pricing & Growth: A Neo-Ricardian Approach, M. E. Sharpe: xii-xiii.

No comments: