A collection of essays which develop Professor Nell's economic theory of transformational growth. The author's previous titles include "Free Market Conservatism: A Critique of Theory and Practice" and "Beyond the Steady State: A Revival of Growth Theory".
Part 1 Method and approach: "The Revival of Political Economy" -
appendix, Post-Keynesian Flow Diagrams; "Theories of Growth and Theories of
Value"; "Value and Capital in Marxian Theory"; "Understanding the Marxian
Concept of Exploitation". Part 2 Capital theory in a growing economy:
"Accumulation and Capital Theory"; "Capital and the Firm in Neo-Classical
Theory"; "Reswitching, Wicksell Effects and the Neo-Classical Production
Function"; "The Black Box Rate of Return"; "The Theory of Income
Distribution"; "On Long Run Equilibrium in Class Society". Part 3
Transformational growth: "Population Pressure and Methods of Cultivation";
"Economic Relationships in the Decline of Feudalism"; "The Transformation of
Agrarian Society"; "The Price Revolution and Primitve Accumulation";
"Cyclical Growth - The Interdependent Dynamics of Industry and Agriculture";
"Mass Production and The Multiplier". Part 4 Prices, investments and
effective demand: "Steady Prices in an Unsteady World"; "Stability in Simple
Keynesian Systems"; "Wealth Effects and the Government Budget"; "The Simple
Theory of Effective Demand"; "Investment, Risk and Finance"; "Does the Rate
of Interest Determine the Rate of Profit?"; "Growth, Distribution and
Inflation"; "Wages, Inflation and the Labor Market"; "Pricing, Profits and
Corporate Investment"; "Controversies in Macroeconomics - Patinkin, Friedman,
Marglin". Part 5 Profits and justice: "Economizing Love"; "On Deserving
Profits"; "Justice Under Socialism".
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