Theory of the capitalist economy : towards a post-classical synthesis


Theory of the capitalist economy : towards a post-classical synthesis

Bill Gerrard

B. Blackwell, 1989

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Bibliography: p. [184]-187

Includes index



The motivation of this book is to show that there are limitations to traditional economic theory and in particular classical theory, with its emphasis and dependence on the operations of the market, which is seen as wholly inadequate to explain and resolve the problems of mass unemployment. Although he takes Keynes' "General Theory" as his starting point Bill Gerrard proposes a radical re-interpretation of both the neo-classical and Keynesian traditions. In an analysis of the dual economy he aims to show that classical theory explains the operations of the financial sector but that the belief that employment is determined by a labour market is at odds with the patterns of behaviour which actually occur in the economy. Rather, employment depends on the level of aggregate demand as determined by the Keynesian multiplier process. Thus the author develops a theoretical synthesis of the classical and Keynesian traditions which accepts that the industrial and financial sectors operate in different ways and cannot be approached from a single theoretical perspective. He goes on to develop this post-classical synthesis with regard to unemployment and inflation and to suggest the concrete policy descriptions which can be derived from it.


  • The exchange economy
  • the monetary production economy
  • the capitalist economy
  • the financial sector
  • unemployment and inflation
  • towards a post-classical economics
  • an agenda.

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  • ISBN
    • 0631162410
  • LCCN
  • 出版国コード
  • タイトル言語コード
  • 本文言語コード
  • 出版地
    Oxford, UK ; New York, N.Y.
  • ページ数/冊数
    xiii, 191 p.
  • 大きさ
    24 cm
  • 分類
  • 件名