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Title The Cambridge revival of political economy / Nuno Ornelas Martins.
Imprint New York : Routledge, 2013.


 Internet  Electronic Book    AVAILABLE
Description 1 online resource (xxi, 460 pages)
Series Economics as social theory
Economics as social theory.
Bibliog. Includes bibliographical references and index.
Note Available only to authorized UTEP users.
Print version record.
Subject Neoclassical school of economics.
Contents Foreword / by G.C. Harcourt Preface -- Economic theory -- The theory of value and distribution -- The ontology of value and distribution -- The accumulation of capital -- The principle of effective demand -- Mathematics and reality -- Social theory -- Rational fools -- Social ontology -- Heterodox economics as surplus theory -- Platonism and Cambridge -- Evolutionary social theory -- History and evolution -- Ethical theory -- Uncertainty and ethical analysis -- Justice and the capability approach -- Ontology and moral realism -- Capabilities as primary (causal) powers.
Summary The marginalist revolution of the late nineteenth century consolidated what Karl Marx and Piero Sraffa called 'vulgar economy', bringing with it an emphasis on a scarcity theory that replaced the classical surplus theory. However, the classical political economy of Adam Smith and David Ricardo has been revived within the Cambridge economic tradition. This book looks at how different branches of the Cambridge economic tradition have focused on various aspects of this revival over time. The author shows that classical political economy is distinct from vulgar political economy in terms.
Other Title Print version: 9780415676830 0415676835