Economic Theories in a Non-Walrasian Tradition [Hardcover]

This book covers a broad range of topics in the history of economics that have relevance to economic theories.The division of labor, economies of scale, wages, profit, international trade, market mechanisms, and money are considered in reference to the well-known non-Walrasian schools of thought.The division of labor, economies of scale, wages, profit, international trade, market mechanisms, and money are considered in reference to the well-known non-Walrasian schools of thought.Negishi examines a broad range of topics in the history of economics that have relevance to current economic theories. The author contends that one of the tasks for historians of economics is to analyze and interpret theories currently outside the mainstream of economic theory, in this case, Walrasian economics. Familiar topics covered include the division of labor, economies of scale, wages, profit, international trade, market mechanisms, and money. These are considered in reference to the well-known non-Walrasian schools of thought.Preface; 1. Anti-neoclassical or non-Walrasian economic theories; Part I. Increasing Returns and Diminishing Cost: 2. Adam Smith and increasing returns in a competitive situation; 3. A reconstruction of Smith's doctrine on the natural order of investment; 4. The possibility of a falling rate of profit under diminishing cost; 5. Rehabilitation of Marshall's life-cycle theory to explain diminishing cost; Part II. Wages and Profit: 6. Conditions for the wages fund doctrine and Mill's recantation of it; 7. Marx and exploitationd in production and in circulation; 8. Marx's dichotomy between exploitation and redistribution of surplus products; 9. B?hm-Bawerk and the positive rate of interest in a stationary state; Part III. International Trade and Investment: 10. The role of exporters and importers in classical and Keynesian theories; 11. Ricardo, the natural wage, and international unequal exchange; Part IV. Markets and Money: 12. Jevons, Edgeworth, and the competitl¡