New Thinking in Political Economy
1 total work
The book shows the common principles that connect the early classical school, the Austrian school and complexity theory in a single line of thought. It goes on to show how these principles can be applied to explain the characteristic features of a market economy - namely incessant change, growth, the business cycle and the market process itself - and argues that static equilibrium theory, whether neoclassical or neo-Keynesian, cannot satisfactorily account for these phenomena.
This fascinating book will provide a stimulating read for academics, postgraduate students and all those with an interest in economic theory and economic policy.