Foundations Of Radical Political Economy

First published in 1987. Similar in content to Sherman’s previous book, Radical Political Economy, it covers most of the same issues and reaches the same overall conclusion in favour of democracy and socialism. Many of the analyses and conclusions on particular subjects, however, have changed because of the flood of new literature in every area of radical political economy and because the world has changed. The most important issue is the prevention of nuclear war.

This straightforward introduction to radical political economy strikes a balance between breadth and depth and was written for the beginning student and others interested in a relatively short text on radical economics.

'These valuable contributions will be very useful to students and nonspecialists wanting a clear introduction to specific topics or a convenient volume to browse to get a feel for a broader area of study. A welcome addition to any library.' – M. Perelman, Choice '. . . an excellent short encyclopedia of radical political economies. . . Even experienced scholars could read a number of the entries to refresh themselves or to introduce themselves to new areas of inquiry. Every university and college library should have a copy.' – William M. Dugger, Southern Economic Journal 'Elgar's companions are a joy to read from cover-to-cover. . . The volume is indexed and belongs in every library.' – William M. Dugger, Journal of Economic Issues '. . . this is a worthwhile volume deserving a browse by anyone with radical pretensions.' – Keith Cowling, The Economic Journal This major reference book has been designed to provide a comprehensive coverage of radical political economy. International in scope, The Elgar Companion to Radical Political Economy includes contributions from a very wide range of specialists who discuss topics, ideas and theories in the field. Radical political economy is a term used to encompass a range of different schools of thought. These include post Keynesian, Kaleckian, Marxian, Institutionalist, Sraffian and other approaches to economics which share the common theme of production, rather than the exchange focus of neoclassical and Austrian economics. Their concern with the generation and use of the surplus leads them to an interest in dynamics, income distribution, growth and development, and capital accumulation. With over 100 entries, the companion provides detailed information on a wide range of aspects of radical political economy as well as some important insights into its theoretical underpinning. A special feature of the book is its emphasis upon explaining the positive elements in radical political economy. As the first book of its kind devoted to radical political economy, the companion will be an essential reference source for scholars and students with an interest in the development of economic ideas.

This volume argues that economic thought has long been shaped by deeply human forms of attachment, anxiety, desire, fear of suffering and death, and even historical speculation about the ultimate destiny of humanity. Starting in the 17th century, modern economics began to incorporate patterns of speculation and rhetoric that mirror postulates found in religion and the philosophy of history. This text demonstrates that the political significance of economic theory can only be fully understood when the existential commitments that motivated its seminal thinkers, from Smith and Marx to Hayek and beyond, have been excavated. Featuring incisive examinations and revisionist interpretations of Jean-Jacques Rousseau, Adam Smith, Karl Marx, F.A. Hayek, and Karl Polanyi, it is powerfully written and exhaustively researched. It will appeal to anyone interested in political economy, the history of political thought, or the roots of contemporary ideologies.

This volume covers the theoretical method, macroeconomics, microeconomics, international trade and finance, development, and policy of economic theory. It incorporates various alternative approaches as well as a broad spectrum of policy issues.