Unemployment, Recession and Effective Demand: The Contributions of Marx, Keynes and Kalecki - Softcover

Sardoni, Claudio

Softcover

ISBN 10: 0857939882 ISBN 13: 9780857939883

Publisher: Edward Elgar Publishing, 2013

Synopsis

'Unemployment, Recession and Effective Demand is a fine example of how critical analysis and debate about fundamental issues should be carried on. Claudio Sardoni does not pull his punches, but he criticises with courtesy in a learned and fair-minded way. His writings are a role model of proper procedure allied with cumulative persuasion through weight of evidence, sound scholarship and argument.'
- From the foreword by G.C. Harcourt

In the midst of the current world economic crisis, many claim there is a necessity to return to the Marxian and Keynesian traditions in order to better understand the dynamics of market economies. This book is an important step in that direction. It presents a critical examination of the foundations of macroeconomics as developed in the traditions of Marx, Keynes and Kalecki, which are contrasted with the current mainstream. Particular attention is given to the problem of market forms and their relevance for macroeconomics.

Professional economists and postgraduate students in economics, in particular those concerned with macroeconomics and the history of economic thought in the 20th century, will find this insightful resource invaluable. This book should be required reading for a large proportion of the economics profession who are dissatisfied with the mainstream.

Contents: Foreword by G.C. Harcourt Preface 1. Introduction 2. The Marxian Notion of a Monetary Economy and the Critique of Say's Law 3. General Overproduction Crises 4. Keynes's Critique of Say's Law 5. Keynesian Underemployment Equilibria 6. A Critique of Keynes s Microfoundations 7. Kaleckian Macroeconomics: An Outline 8. The Problem of Market Forms in Modern Macroeconomics 9. Concluding Remarks A. A Formalization of Marx s Schemes of Reproduction B. Effects of Wage Changes in Keynes s Model C. Price Determination and Income Distribution in Kalecki Bibliography Index

About this title

About the Author:

Claudio Sardoni, Professor of Economics, University of Rome La Sapienza , Italy

Review:

There is a great deal to commend in this book. The structure of the argument is concise and easy to follow. Sardoni leads the reader logically from one point t the next in such a way that there is little doubt where we have been, where we are going, or why. The line between 'principles of' and recent controversies in can be exceedingly fine when treating complex theoretical issues in brief, but it is a line that Sardoni walks with aplomb. This approach makes the book perfectly accessible to all readers with advanced economic training; in fact, there is much to be gained even by specialists in the field from Sardoni's argument. Given the structure of the book it is ideally suited for young researchers of the graduate or post-graduate level, and even for neoclassical economists shaken by the most recent failure of mainstream models. --James Andrew Felkerson, Review of Keynsian Economics

About this edition

• Publisher: Edward Elgar Publishing
• Publication date: 2013
• ISBN 10: 0857939882
• ISBN 13: 9780857939883
• Binding: Paperback
• Number of pages: 192