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Theory of the Capitalist Economy

£9.99

Product description

The motivation of this book is to show that there are limitations to traditional economic theory and in particular classical theory, with its emphasis and dependence on the operations of the market, which is seen as wholly inadequate to explain and resolve the problems of mass unemployment.;Although he takes Keynes' "General Theory" as his starting point Bill Gerrard proposes a radical re-interpretation of both the neo-classical and Keynesian traditions. In an analysis of the dual economy he aims to show that classical theory explains the operations of the financial sector but that the belief that employment is determined by a labour market is at odds with the patterns of behaviour which actually occur in the economy. Rather, employment depends on the level of aggregate demand as determined by the Keynesian multiplier process.;Thus the author develops a theoretical synthesis of the classical and Keynesian traditions which accepts that the industrial and financial sectors operate in different ways and cannot be approached from a single theoretical perspective. He goes on to develop this post-classical synthesis with regard to unemployment and inflation and to suggest the concrete policy descriptions which can be derived from it.

Item details

Author(s):
Bill Gerrard
Condition:
Used: good
Format:
Hardback
ISBN-10:
0631162410
ISBN-13:
9780631162414
Publisher:
Basil Blackwell

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About this item

The motivation of this book is to show that there are limitations to traditional economic theory and in particular classical theory, with its emphasis and dependence on the operations of the market, which is seen as wholly inadequate to explain and resolve the problems of mass unemployment.;Although he takes Keynes' "General Theory" as his starting point Bill Gerrard proposes a radical re-interpretation of both the neo-classical and Keynesian traditions. In an analysis of the dual economy he aims to show that classical theory explains the operations of the financial sector but that the belief that employment is determined by a labour market is at odds with the patterns of behaviour which actually occur in the economy. Rather, employment depends on the level of aggregate demand as determined by the Keynesian multiplier process.;Thus the author develops a theoretical synthesis of the classical and Keynesian traditions which accepts that the industrial and financial sectors operate in different ways and cannot be approached from a single theoretical perspective. He goes on to develop this post-classical synthesis with regard to unemployment and inflation and to suggest the concrete policy descriptions which can be derived from it.

Author(s):
Bill Gerrard
Condition:
Used: good
Format:
Hardback
ISBN-10:
0631162410
ISBN-13:
9780631162414
Publisher:
Basil Blackwell

Delivery & returns

This item will be dispatched to UK addresses via second class post within 2 working days of receipt of your order. Standard UK delivery is £3.95 per order, so you're only charged once no matter how many items you have in your basket. Any additional courier charges will be applied at checkout as they vary depending on delivery address.

This item will be dispatched to UK addresses via second class post within 2 working days of receipt of your order. Standard UK delivery is currently free, no matter how many items you have in your basket. Any additional courier charges will be applied at checkout as they vary depending on delivery address.

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