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The essays in this volume, first published in 1989, seek to re-examine an important area of economic theory: value and distribution. In a sustained and analytical critique, two principle methodological approaches are compared and distinguished: the Classical or surplus-based theories and the demand-and-supply-based equilibrium (DSE) theories. Although the essays are primarily concerned with value and distribution, the critique necessarily extends to the theory of output and employment, and in general, to the theory of trade and accumulation. The book will be an invaluable reader for...

The papers collected in this book, first published in 1990, represent the edited proceedings of a conference held to celebrate the 25th anniversary of the publication of Piero Sraffa s "Production of Commodities by Means of Commodities. "In arranging the conference, and subsequently during the editing of the papers, great care has been taken to invite scholars of different schools of thought to contribute. The result of this collection of ideas has resulted in a most promising critique and provides an extensive alternative to modern Neo-Classical theory, of interest to all students of...