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Dilemmas in Economic Theory: Persisting Foundational Problems of Microeconomics
By Michael Mandler
228 pages
- Contributors:
- Publisher:
- Oxford University Press
- Place of publication:
- New York
- Publication year:
- 1999
- Subjects:
Synopsis
By examining the development of economics in the 20th century, this book argues that the breakthroughs of post WWII general equilibrium theory and its rejection of utilitarianism and marginal productivity have been misunderstood. Mandler maintains that although earlier neoclassicism deserved criticism, current theory does not adequately address the problems the discarded concepts were designed to solve, and that intractable dilemmas therefore appear.Related books and articles at Questia
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Table of contents
The first page of every section is available free to non-members – click a section heading to start reading now!
- Title Page iii
- Preface v
- Contents vii
- Introduction - The Transformation of Economic Theory 3
- 2 - Marginal Productivity and the Indeterminacy of Factor Prices 16
- 3 - The Prehistory of Distribution Theory the Wage Fund and the Invention of Marginal Productivity 52
- 4 - The Ordinal Revolution 66
- 5 - Historical Issues in Preference Theory Cardinality and the Transition to Ordinalism 110
- 6 - Paretian Welfare Economics 123
- 7 - A Positive Rate of Interest? 164
- 8 - Conclusion 191
- References 193
- Index 203