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In recent years there has been a growing dissatisfaction with standard economic theorising which has fostered the development of alternative ways of understanding how economies actually work. Too often though these approaches have been developed in isolation, or even in opposition to each other. However, Interactions in Political Economy, demonstrates that the different heterodox approaches to economics have much to learn from each other. Economists working within different paradigms, including Post Keynesian, Marxism and Neo-Ricardian economics address a wide range of issues in methodology, the history of economics, theory and policy. The result is a wealth of insight into how economics ought to be done, how various theoretical approaches dovetail, and the efficiency of various approaches to economic theory. The volume reflects the diversity and quality of the annual Great Malvern Political Economy. Contributors include some of the leading names in heterodox economics John Cornwall, Paul Davidson, Kevin Hoover, Philip Mirowski and Ed Nell.
Forward by G.C. Harcourt List of Figures and Tables Contributors, Chapter 1. Political Economy at Malvern Steven Pressman Methodological Issues, Chapter 2. Do You Know the Way to Sante Fe? Or, Political Economy Gets More Complex Philip Mirowski Seminal Figures in Political Economy, Chapter 3. Shackle, Entrepreneurship and the Theory of the Firm Peter E. Earl, Chapter 4. Hyman Minsky: The Making of a Post Keynesian John E. King, Chapter 5. Monopoly Capitalism Revisited Allin Cottrell Comparative Approaches to Political Economy, Chapter 6. Prices, Expectation and Investment: A Critical Assessment of Keynes' Marginal Efficiency of Capital Claudio Sardoni, Chapter 7. Some Critical Observations on Post Keynesian Macroeconomics Gary Mongiovi, Chapter 8. In Defence of Post Keynesian Economics: A Response to Mongiovi Paul Davidson, Chapter 9. Hysteresis and Uncertainty: Complementary or Competing Visions of Economic Evolution Mark Setterfield Policy Issues Chapter, 10. Deficits in Our Understanding: Transformational Growth and the Role of Government Edward J. Nell, Chapter 11. A Keynesian Framework for Studying Institutional Change and Evolutionary Processes John and Wendy Cornwall New Directions in Political Economy, Chapter 12. Beyond Political Economy Ingrid Rima, Chapter 13. Some Suggestions for Complicating the Theory of Money Kevin Hoover
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