Suchergebnisse

This book, which include articles from Tony Lawson, Ivor Grattan-Guinness and Roger Backhouse, highlights current notions of equilibrium in economics and provides a guide to understanding the links between economic theory and economic reality

This major volume develops a rigorous equilibrium-free political economy based on labour values. Rooted in a non-dualistic approach restoring money to its central role in a commodity economy, Marx and Non-Equilibrium Economics is the fruit of extensive international collaboration reflecting a profound critical reappraisal of Marx's theoretical work and its relation to modern economics. This major book reconstructs classical Marxist explanations for many of the most important phenomena of the day, including mass poverty, unequal development, and endemic economic crisis. The authors vindicate Marx's most contentious propositions, showing how the profit rate falls despite continuous technical innovation and how values are transformed into prices, preserving his famous 'two equalities'. Destined to become a reference text for both Marxists and non-Marxists dissatisfied with the neoclassical synthesis, Marx and Non-Equilibrium Economics is a decisive break with the economic conventions of the Twentieth Century

Equilibrium models play a central role in modern (micro)economic analysis.
They form the basis of almost all our understanding in economics and are
increasingly being used in other fields of social science. Yet there are
numerous limitations to the equilibrium approach. To name a few: the
treatment of time, i.e., the problem of distinguishing between ?time in
models? and ?models in time?; learning process, i.e., the problem of
knowledge necessary to attain the equilibrium; equilibrium dynamics, i.e.
considering the equilibrium attainment process and not just the equilibrium
state. Many critics already drew attention to the reach and limitations of
the ?engineering approach? in economic science. It seems that the ?voice of
reason? has never been loud enough. This paper presents a review of the
above-mentioned problems.

Introduction -- PART I THE ENVIRONMENTAL MOVEMENT -- Differing Views on the Environment -- The International Dimension of the Environment -- PART II THEORETICAL ENVIRONMENTAL ECONOMICS -- Basics of Environmental Economics -- Allocation Problems in a Market Economy -- The Internalization of External Effects -- Public Goods in Environmental Economics -- PART III ENVIRONMENTAL POLICY -- From Theory to Policy: Information Deficits -- Command-and-Control Policy -- The Price-Standard Approach to Environmental Policy -- International Environmental Commodities and the Principal-Agent-Approach -- Holistic Environmental Policies -- PART IV THE ENVIRONMENT IN THE GLOBALIZED WORLD -- Trade and the Environment: The Legal Context -- Overfishing -- Integration of Trade and the Environment.