Interpreting Classical Economics: Studies in Long-Period Analysis

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). 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 The second part is devoted to Piero Sraffa's contribution, drawing from the economist's hitherto unpublished papers. The final part assesses linear theory of production, concentrating on comparative studies of thecontributions 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, economics growth and the history of economic thought.

Heinz D. Kurz is Professor of Economics at the University of Graz, Austria.