market process theories: Classical and Neoclassical : Heterodox Approaches (The International Library of Critical Writings in Economics series) - Hardcover

Hardcover

ISBN 10: 1858985560 ISBN 13: 9781858985565

Publisher: Edward Elgar Publishing Ltd, 1998

Synopsis

Market process theory is principally concerned with explaining how the market moves towards a state of general economic equilibrium and how production and consumption plans become coordinated. Market Process Theories presents in two volumes the most important articles by leading economists which contribute to an understanding of the processes of economic coordination.

Volume I examines classical and neoclassical theories; it suggests that many classical writers can be interpreted as having anticipated a more dynamic disequilibrium analysis, and evaluates Marxian process theory also in this light. Other topics include analyses of price adjustment models, stability and disequilibria and a discussion of the challenge of increasing returns. Volume II deals with criticisms of standard theories such as institutionalism and post Keynesian criticisms. It also offers an exploration of the Swedish influence in the field with papers on the theory of savings and the concept of monetary equilibrium among others. Austrian economics is the subject of the final section, which explores such topics as the meaning of competition, process analysis and price and quantity adjustment.

About this title

About the Author

Edited by Peter J. Boettke, University Professor of Economics and Philosophy, George Mason University and David L. Prychitko, Head, Department of Economics, Northern Michigan University and Faculty Affiliate in the Program on Markets and Institutions, James M. Buchanan Center for Political Economy, George Mason University, US

Edition details

• Publisher: Edward Elgar Publishing Ltd
• Publication date: 1998
• Language: English
• ISBN 10: 1858985560
• ISBN 13: 9781858985565
• Binding: Hardcover
• Number of pages: 968
• Editor: Boettke Peter J., Prychitko David L.