Dilemmas in economic theory: persisting fondational problems of macroeconomics

By examining the development of economics in the 20th century, this book argues that the breakthroughs of post-World War II 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.

L'auteur :

Michael Mandler, Professor of Economics, Royal Holloway College, University of London