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eBook Contending Economic Theories: Neoclassical, Keynesian, and Marxian (The MIT Press) epub

by Stephen A. Resnick,Richard D. Wolff

eBook Contending Economic Theories: Neoclassical, Keynesian, and Marxian (The MIT Press) epub
  • ISBN: 0262517833
  • Author: Stephen A. Resnick,Richard D. Wolff
  • Genre: Business
  • Subcategory: Economics
  • Language: English
  • Publisher: The MIT Press (September 7, 2012)
  • Pages: 424 pages
  • ePUB size: 1976 kb
  • FB2 size 1418 kb
  • Formats txt lrf azw mobi

Richard Wolff and Stephen Resnick treat their readers as adults who can, and in fact must, choose among theories .

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.

Contending Economic Theories. Neoclassical, Keynesian, and Marxian. By Richard D. Wolff and Stephen A. Resnick. 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.

Contending Economic Theories: Neoclassical, Keynesian, and Marxian. The MIT Press Cambridge, Massachusetts London, England

Contending Economic Theories: Neoclassical, Keynesian, and Marxian. Richard D. The MIT Press Cambridge, Massachusetts London, England. edu or write to Special Sales Department, The MIT Press, 55 Hayward Street, Cambridge, MA 02142. This book was set in Times Roman by Toppan Best-set Premedia Limited. Printed and bound in the United States of America.

Economics 22 (1998): 103-116. Contending Economic Theory: Neoclassical, Keynesian, and Marxian, by Richard D. Wolff. and Stephen A. Cambridge, MA: MIT Press, 2012. Paperback: ISBN 978-0

Economics 22 (1998): 103-116. Paperback: ISBN 978-0-. Contending Economic Theory is a comprehensive, beautifully written volume on. contending theories with competing explanations. In mainstream economic theory money functions as an instrument for the circulation of commodities or for keeping a stock of liquid wealth. In neither case is it considered fundamental to the production of goods or the distribution of income.

Электронная книга "Contending Economic Theories: Neoclassical, Keynesian, and Marxian", Richard D. Wolff, Stephen A. Эту книгу можно прочитать в Google Play Книгах на компьютере, а также на устройствах Android и iOS. Выделяйте текст, добавляйте закладки и делайте заметки, скачав книгу "Contending Economic Theories: Neoclassical, Keynesian, and Marxian" для чтения в офлайн-режиме.

Contending Economic Theories book

Contending Economic Theories book. Presumably Wolff wrote the Marxian bits and his co-author Resnick wrote the neoclassical bits. Ironically, for a book that is co-written by a prominent Marxist, the neoclassical chapter actually gives quite a good introduction to the details of constructing supply, demand curves and other bits of neoclassical economics.

Stephen Alvin Resnick (/ˈrɛznɪk/; October 24, 1938 – January 2, 2013) was an American heterodox economist. He was well known for his work (much of it written together with Richard D. Wolff) on Marxian economics, economic methodology, and class analysis. His work, along with that of Wolff, is especially associated with a post-Marxist and post-Althusserian perspective on political economy.

By carefully describing neo-classical microeconomics and Keynesian macro-economics, and by juxtaposing both to Marxian economic theory, Richard Wolff and Stephen Resnick provide an essential guide for building a more just future. Clear, comprehensive, and brimming with provocative insights, this new book by Richard 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.

Wolff and Resnick are the authors of Economics: Marxian versus Neoclassical.

MIT Press LTD. ISBN-10. Wolff is Professor of Economics Emeritus at the University of Massachusetts, Amherst, and Visiting Professor in the Graduate Program in International Affairs at the New School, New York. Stephen A. Resnick is Professor of Economics Emeritus at the University of Massachusetts, Amherst. Wolff and Resnick are the authors of Economics: Marxian versus Neoclassical. Country of Publication.

by Richard D. Wolff & Stephen A. in economics as it is taught today: neoclassical, Keynesian, and Marxian. Macroeconomics Simplified explains the intuition behind Keynesian and neoclassical macroeconomics. Seek knowledge from cradle to the grave in economics as it is taught today: neoclassical, Keynesian, and Marxian. Contending Economic Theories: Neoclassical, Keynesian - Free. Best Practices in State and Regional Innovation Initiatives: Competing in the 21st Century. 44 MB·8,645 Downloads·New!

A systematic comparison of the three major economic theories, showing how they differ and why these differences matter in shaping economic theory and practice.

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 versus Neoclassical, 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.

Comments: (7)
Lost Python
Wolf accurately explains the history and main ideas of the major school of thoughts in as uncontroversial a manner as he possibly could. 5/5!
It's good to leave the scary propaganda behind and see the three primary economic theories discuss side by side. All have flaws; all have good points; and all are theories. It's not a science.
Great book but not compatible with the latest editions of Kindle!
Of the many Kindle books I have read, this is the first that was missing the "Aa" font icon so that I was unable to change the font size. Additionally, it provides only a one page orientation. Amazon support was helpful in zeroing in on the issue. The webpage does indicate that this is a replica of the print book, which is something I did not notice and would not have understood the impact of it anyway.

After experimenting with the pages in this book, I discovered that if I used it in landscape orientation, and double-tapped the screen, it would fill the screen with print which was larger than what was originally shown. The font could then be enlarged more by doing a reverse-pinch maneuver with my fingers, but that put much of the page outside of the viewing area. Although these are viable workarounds to no having the "Aa" icon, they are cumbersome. This was something that the Amazon support staff person I spoke to did not appear to be aware of.

The authors have provided an interesting and logical examination of the subject matter. Although it is obviously a text book, it does a good job of presenting a complex set of economic theories, their histories, how they interrelate, and their consequences for society. It is also good in that it does not seem to assume a knowledge base that a reader may not have beyond basic economic theory. This is a book that will not provide the reader so much with the basics of the theories, but rather, it is an exploration of their genesis and how they interact with each other, especially as to how each adjusts for events that challenge their respective views.

This book opens a lot of doors, not only as to the various theories, but also as to how a person's particular way of viewing the world might influence which theory supports that world view, thus demonstrating another case of having a viewpoint and finding a theory to support it as opposed to finding a theory first and developing a viewpoint therefrom. There is also an emphasis on the sometimes shared lexicon of these competing theories with significantly different meanings assigned. What a Marxist means by class is not the same thing that a Keynesian means, so comparing apples to apples becomes yet a little more challenging for the unenlightened.
Wolff and Resnick are well known and widely acclaimed for their 1987 book "Economics: Marxian versus Neoclassical" Economics: Marxian versus Neoclassical published by John Hopkins University Press. The current book under review, "Contending Economic Theories: Neoclassical, Keynesian, and Marxian" published by MIT Press, is an extension of their previous book. The importance of "Economics: Marxian versus Neoclassical" was that it offered an impressive introduction and intermediate level presentation to both neoclassical microeconomics and Marxian economics. To this day chapter 3 of "Economics: Marxian and Neoclassical" and chapter 4 of "Contending Economic Theories: Neoclassical, Keynesian, and Marxian" are among the best introductory/intermediate presentations of Marxian economics. (Other competitors include Ernest Mandel's two volume book, "Marx's Economic Theory" Marx Economic Theory, Paul Sweezy's The Theory of Capitalist Development The Theory of Capitalist Development: Principles of Marxian Political Economy, John Weeks' "Capital and Exploitation" Capital, Exploitation and Economic Crisis (Routledge Frontiers of Political Economy), Meghnad Desai's "Marxian Economics" Marxian Economics (Littlefield, Adams quality paperback), and David Harvey's "A Companion to Marx's Capital" A Companion to Marx's Capital; all of these books are far lengthier than Wolff and Resnick, while the latter loses no depth or rigor to their far briefer introduction).

This book is worth its purchase for chapter 4 alone, but if you already own their 1987 book, you already have this chapter in that book.

The primary weakness of the 1987 book is that the presentation of Keynesian economics was not presented at the same level of depth and rigor as was neoclassical microeconomics and Marxian economics. Unfortunately, "Contending Economic Theories" does not mend the weakness. Instead, Wolff and Resnick have merely separated the sections already available in Economics: Marxian versus Neoclassical" and given these sections their own chapter heading. There is a brief and new elaboration on "Post-Keynesianism" but this section is rather obtuse and shallow. Thus, although it appears there are three new chapters, really there are two.

The two new chapters do hit their marks. Wolff and Resnick add a chapter (chapter 5) on "late neoclassical economics" co-authored with Yahya M. Madra. The chapter introduces and discusses various developments in neoclassical microeconomics including recent developments in externalities, imperfect competition (i.e. big business), transaction costs, asymmetric information, bounded rationality, behavioral economics, game theory, and evolutionary game theory. This chapter is brief, but has significant depth and breadth of recent developments in neoclassical microeconomics.

Wolff and Resnick also add a chapter on oscillations, instability, and intervention pitched in the context of three competing economic theories (neoclassical, Keynesian, Marxian). This chapter is interesting and very useful. It clearly demonstrates the symbiotic relationship between real economic oscillations and economic theory. It argues that theoretical commitments have very real consequences to the incidence of economic crisis, the political reaction to oscillations/crises, and the quality of human beings lives for those individuals enduring class relations and economic crisis.

In the end, this book will continue to be celebrated for the strengths already available in "Economics: Marxian versus Neoclassical." The chapters on "late neoclassical economics" and "Oscillations" will be welcomed and appreciated. But Wolff and Resnick have missed an opportunity to deepen their comparison to Keynesianism. Moreover, there have been some important developments in Post-Keynesianism, Neo-Keynesianism, and New Keynesian economics which could have been elaborated that can be argued to be as important as any of the developments in "late neoclassical economics." Further, I question the title "late" in "late neoclassical economics," it is almost certainly premature. Wolff and Resnick do not see these developments within neoclassical economics as any serious challenge to the orthodoxy and do not believe these developments as connecting with Marxian themes of class, exploitation, and instability. They base most of this on the philosophical foundations and entry point of neoclassical economics. I believe this to be an important point, but it is not clear whether the philosophical foundations/entry point of neoclassical economics are consistent with some of the results of behavioral economics, (evolutionary) game theory, imperfect competition, and asymmetric information. I am more optimistic that neoclassical economists working within these "late" developments may be in a position of sympathy to understanding, traditionally, more Marxian themes of class, exploitation, and instability.
Without political judgements, author discussed the pluses and minuses of contending theories.. Very good soure for anyone wishing to understand them. They are the foundation of many divisions in our country.
Very good work, precise and complete in synthesizing the theoretical struggle within the invisible hand and any public policy or intervention. It matches all the essentials on these subject.
I would love to hear it red as well, trough a DVD edition
required for a college class
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