This text deals with the distinctive method of Marx's political economy, with an emphasis on it's origins. It applies this method to key contemporary issues such as unemployment, globalization and the crisis of the welfare state.

The role of the German Historical School and of Carl Menger (founder of the Austrian School) is appraised in this new book. This important period of the history of economics is vital to understand how the discipline developed over the next half-century. Gilles Campagnolo has produced an impressive original work which makes use of rarely seen research by Carl Menger and as such this book will be of interest across several discplines, including history of economic thought, economic methodology, philosophy of science and the history of ideas.

Seminar paper from the year 2024 in the subject Business economics - Miscellaneous, Addis Ababa University (Business and Economics), course: development theory, language: English, abstract: The classical school of economic thought began taking shape in the late 18th century, led by Scottish philosopher Adam Smith. In his groundbreaking book The Wealth of Nations published in 1776, Smith introduced several foundational concepts that came to define early classical theory. He observed the immense productive gains achieved through the division of labor in a pin factory, recognizing specialization as a primary driver of economic progress (Smith, 1776). Moreover, Smith theorized his famous metaphor of the "invisible hand”, suggesting that through unhindered individual self-interest and competition in a free market, social welfare is indirectly maximized (Smith, 1776). In the early 19th century, English political economist David Ricardo built significantly upon Smith's foundations. His 1817 work On the Principles of Political Economy and Taxation proposed the influential labor theory of value. Ricardo argued that the cost of production, and therefore the true value, of a good or service is determined by the quantity of labor required to produce it (Ricardo, 1821). He also formulated the principle of comparative advantage to explain patterns of international trade. During this period, Reverend Thomas Malthus published his Essay on the Principle of Population in 1798. In it, he contended that human populations tended to grow at a faster rate than the food supply, potentially resulting in recurrent famines unless checks like disease, war, or birth control intervene (Malthus, 1798 ).

William O. Thweatt This book is the second in three surveys of the literature in the history of economic thought in the Kluwer Recent Economic Thought series. The first book, covering the pre-classical literature, has already been published; a third, on the neo-c1assical period, is planned for 1988. This middle book surveys the writings on classical political economy for the past 30 years, or roughly since the publication of Joseph Schumpeter's 1954 monumental History of Economic Analysis. Shortly after World War II, the American Economic Association spon sored a Survey of Contemporary Economics [1949]. That work covered 13 subdisciples of economics, and in 1952 a companion piece appeared in which surveys of 10 additional subdisciples were presented. As Bernard Haley, editor of the second volume, stated, even "though in the two volumes twenty-three fields have been treated ... there remain some aspects of the subject ... that have not been reviewed" [Haley, 1952, p. v].

First Published in 2007. This book is the third volume of previously published essays from Heinz D. Kurz and Neri Salvadori, following Understanding Classical Economics (1998) and Classical Economics and Modern Theory (2003), both published by Routledge. This new collection can be read in isolation but perhaps more fruitfully in conjunction with the previous texts, providing modern interpretations of the classical economists and comparing their analyses with that of contemporary mainstream economics. The essays in the new volume are split between three parts, the first section dealing with classical economics and modern theory focusing specifically on the differences in the analytical structure and content of the theory of value and distribution of Ricardo, on the one hand, and Say and Walras, on the other. The second part is devoted to Piero Sraffa’s contribution, drawing from his hitherto unpublished papers. The final part assesses linear theory of production, concentrating on comparative studies of the contributions of von Neumann, Arrow-Debreu, Georgescu-Roegen and Sraffa. This new volume will be of interest to economic theorists and methodologists in Europe, Asia and America and particularly academics and researchers engaged with theories of production, value, distribution, economic growth and the history of economic thought.

This book promotes an in-depth understanding of the key mechanisms that govern the functioning of capitalist economies, pursuing a Classical Political Economics approach to do so. It explores central theoretical issues addressed by the classical economists Smith and Ricardo, as well as Marx, while also operationalizing more recent theoretical developments inspired by the works of Sraffa and other modern classical economists, using actual data from major economies. On the basis of this approach, the book subsequently provides alternative explanations for various microeconomic issues such as the determination of equilibrium prices and their movement induced by changes in income distribution; the dynamics of competition of firms within and between industries; the law of tendential equalization of interindustry profit rates; and international exchanges and transfers of value; as well as macroeconomic issues concerning capital accumulation and cyclical economic growth. Given its scope, the book will benefit all researchers, students, and policymakers seeking new explanations for observed phenomena and interested in the mechanisms that give rise to surface economic categories, such as prices, profits, the unemployment rate, interest rates, and long economic cycles.