Transformational Growth and Effective Demand: Economics After the Capital Critique

by Edward J. Nell

Overview

This collection of essays develops Edward Nell's influential theory of transformational growth. Nell sets established concepts such as the classical notion of prices of production and the wage-profit frontier within a significant new framework that illustrates their role in the dynamic evoution of the industrial system from its beginnings in feudalism through the early capitalism of the family firms to the modern system of effective demands and multiplier adjustments. The essays present the method and its relation to the capital critique before developing the main ideas of transformational growth through a series of historical studies culminating in a revised theory of the multiplier. Outlining policies which strongly affirm an expansionist approach, Nell porposes a reconstruction of macroeconimics.

Product Details

ISBN-13:	9780814757697
Publisher:	New York University Press
Publication date:	10/01/1991
Pages:	680
Product dimensions:	6.00(w) x 9.00(h) x (d)

About the Author

Edward J. Nell is Professor of Economics at the New School for Social Research and the author of Keynes After Sraffa.