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Classical Political Economics and Modern Capitalism

Theories of Value, Competition, Trade and Long Cycles

  • Lefteris Tsoulfidis
  • Persefoni Tsaliki
Book

Table of contents

  1. Front Matter
    Pages i-xix
  2. Theories of Value and Empirical Evidence

    1. Front Matter
      Pages 1-1
    2. Lefteris Tsoulfidis, Persefoni Tsaliki
      Pages 3-39
    3. Lefteris Tsoulfidis, Persefoni Tsaliki
      Pages 41-82
    4. Lefteris Tsoulfidis, Persefoni Tsaliki
      Pages 197-245
  3. Competition, Trade and Long Cycles: Theory and Empirical Evidence

    1. Front Matter
      Pages 247-247
    2. Lefteris Tsoulfidis, Persefoni Tsaliki
      Pages 249-283
    3. Lefteris Tsoulfidis, Persefoni Tsaliki
      Pages 285-334
    4. Lefteris Tsoulfidis, Persefoni Tsaliki
      Pages 335-379
    5. Lefteris Tsoulfidis, Persefoni Tsaliki
      Pages 381-404
    6. Lefteris Tsoulfidis, Persefoni Tsaliki
      Pages 405-437
  4. Back Matter
    Pages 439-456

About this book

Introduction

This book promotes an in-depth understanding of the key mechanisms that govern the functioning of capitalist economies, pursuing a Classical Political Economics approach to do so. It explores central theoretical issues addressed by the classical economists Smith and Ricardo, as well as Marx, while also operationalizing more recent theoretical developments inspired by the works of Sraffa and other modern classical economists, using actual data from major economies.

On the basis of this approach, the book subsequently provides alternative explanations for various microeconomic issues such as the determination of equilibrium prices and their movement induced by changes in income distribution; the dynamics of competition of firms within and between industries; the law of tendential equalization of interindustry profit rates; and international exchanges and transfers of value; as well as macroeconomic issues concerning capital accumulation and cyclical economic growth.

Given its scope, the book will benefit all researchers, students, and policymakers seeking new explanations for observed phenomena and interested in the mechanisms that give rise to surface economic categories, such as prices, profits, the unemployment rate, interest rates, and long economic cycles.


Keywords

Equilibrium price Input-output economics Eigenvalue Labour theory of value Rate of profit Simple and expanded reproduction Growth and cycles Economic crisis Competition dynamic Transformation problem

Authors and affiliations

  • Lefteris Tsoulfidis
    • 1
  • Persefoni Tsaliki
    • 2
  1. 1.Department of EconomicsUniversity of MacedoniaThessalonikiGreece
  2. 2.Department of EconomicsAristotle University of ThessalonikiThessalonikiGreece

Bibliographic information