The Crisis of Keynesian Economics (Routledge Revivals)


Book Description

Geoffrey Pilling’s treatment of this complex issue in political economy, first published in 1986, concentrates on a review of Keynes’ writings rather than the vast literature that has developed surrounding his work since the Second World War. It does, however, consider the work of the ‘Left Keynesians’, in particular that of Joan Robinson. The Crisis of Keynesian Economics has the potential to throw fresh light on some of the issues facing political leaders today, particularly so given that much of the Neo-Capitalist economic orthodoxy established during the 1980s has come under fresh criticism in recent years.




Keynes' Economics (Routledge Revivals)


Book Description

First published in 1985, this title includes contributions from leading economists and addresses many seminal aspects of Keynes' work and methods. This revival will be of particular interest to lecturers and advanced students of economics.




Routledge Revivals: European Trade Unions and the 1970s Economic Crisis


Book Description

The volumes in this set report and analyse European trade union responses to the 1970s economic crisis across a range of nations including, Germany, Italy, France, Britain and Sweden. The set will be of interest to those studying trade unions, industrial relations and European political economy.




Austrian Economics (Routledge Revivals)


Book Description

First published in 1986, this book presents a reissue of the first detailed confrontation between the Austrian school of economics and Austrian philosophy, especially the philosophy of the Brentano school. It contains a study of the roots of Austrian economics in the liberal political theory of the nineteenth-century Hapsburg empire, and a study of the relations between the general theory of value underlying Austrian economics and the new economic approach to human behaviour propounded by Gary Becker and others in Chicago. In addition, it considers the connections between Austrian methodology and contemporary debates in the philosophy of the social sciences.




The State, Class and the Recession (Routledge Revivals)


Book Description

The contributions to this edited collection, first published in 1983, are based on two underlying themes. The first examines the major recession that took hold of the global economy during the 1980s and assesses its effects on key areas of social structure, including political and economic democracy and trade union representation. The second theme considers the limitations of state intervention in such changing circumstances, with particular reference to the welfare state. This is a comprehensive title, which is of great relevance to those with an interest in the current global economic situation and the potential impact of this on the welfare state and class structure.




Evolutionary Macroeconomics (Routledge Revivals)


Book Description

First published in 1987, Evolutionary Macroeconomics offers an evolutionary approach to macroeconomics as an alternative to contemporary new classical and Keynesian macroeconomics. In order to develop such an approach, an alternative view of the micro-foundations of macroeconomics is presented. The book begins with a commentary on the state of macroeconomics and an evaluation of attempts to redevelop its underlying vision of economic behaviour. Particular attention is paid to the treatment of expectations and anticipations. The second part of the book presents a behavioural framework which is compatible with an evolutionary perspective on economic behaviour. The third part of the book discusses the implications of adopting an evolutionary approach to macroeconomic theory, empirical methods and policy design, culminating in a specific policy proposal to cure stagflation.




Marxist Political Economy


Book Description

Geoff Pilling’s work shows that Marxist theory is relevant to those struggling to understand the problems of capitalist society today, and that the work not only of Marx and Engels but that of later Marxist theorists, including Lenin is worth studying. It also shows that to understand the problems of today’s society needs more than narrow specialist economic analysis, but a deep awareness of current developments in society.




Prosperity and Public Spending (Routledge Revivals)


Book Description

In a dramatic and well-argued challenge to the prevailing wisdom, Prosperity and Public Spending, first published in 1988, contends that the failure of Keynesian economics has been due to its timidity. Far from contracting, the government must expand its powers and activities, in order to achieve and maintain economic prosperity. The need for such expansion arises from the fact that the system has developed from a craft-based economy to a mass-production network with sophisticated international finance. This "transformational growth" brings about irreversible and sometimes devastating changes, requiring government action. Professor Nell argues that a lack of government action in the decade prior to the book’s initial publication was responsible for the stagnation of the economy and he asserts that this could only be overcome by a determined policy intervention and the political will to achieve dominance over private capital.




The Cambridge Revival of Political Economy


Book Description

The marginalist revolution of the late nineteenth century consolidated what Karl Marx and Piero Sraffa called ‘vulgar economy’, bringing with it an emphasis on a scarcity theory that replaced the classical surplus theory. However, the classical political economy of Adam Smith and David Ricardo has been revived within the Cambridge economic tradition. This book looks at how different branches of the Cambridge economic tradition have focused on various aspects of this revival over time. The author shows that classical political economy is distinct from vulgar political economy in terms of its economic, social, and ethical theory, with each difference resting on an issue of ontology. Structured in three parts, the book examines the central contested aspects of these theories, namely the nature of value, the relationship between human beings and social structure, and the nature of human wellbeing. The Cambridge Revival of Political Economy will be relevant to students and researchers within the fields of political economy, history of economic thought, politics and philosophy.




The Great Transformation


Book Description

While artificial intelligence (AI), robots, bio-technologies and digital media are transforming work, culture, and social life, there is little understanding of or agreement about the scope and significance of this change. This new interpretation of the ‘great transformation’ uses history and evolutionary theory to highlight the momentous shift in human consciousness taking place. Only by learning from recent crises and rejecting technological determinism will governments and communities redesign social arrangements that ensure we all benefit from the new and emerging technologies. The book documents the transformations under way in financial markets, entertainment, and medicine, affecting all aspects of work and social life. It draws on historical sociology and co-evolutionary theory arguing that the radical evolution of human consciousness and social life now under way is comparable with, if not greater than, the agrarian revolution (10000 BCE), the explosion of science, philosophy, and religion in the Axial Age (600 BCE), and the recent Industrial Revolution. Turning to recent major socio-economic crisis, and asking what can be learnt from them, the answer is we cannot afford this time around to repeat the failures of elites and theoretical systems such as economics to attend appropriately to radical change. We need to think beyond the constraints of determinist and reductionist explanations and embrace the idea of deep freedom. This book will appeal to educators, social scientists, policy-makers, business leaders, and students. It concludes with social design principles that can inform deliberative processes and new social arrangements that ensure everyone benefits from the affordances of the new and emerging technologies.