After Marx and Sraffa
Essays in Political Economy

A collection of essays on the economic theories of Marx and Sraffa, and the links between them, which go on to examine the work of American institutionalists like Veblen. Hodgson's other titles include "Capitalism, Value and Exploitation" and "Socialism and Parliamentary Democracy".

A collection of essays, this book spans Marxian and Sraffian economics on the one hand and institutional economics on the other. Recent events in eastern Europe have underlined the limitations of Marxian economic and political theory. Hodgson subjects Marxian economic theory to critical examination and shows which elements retain their modern relevance. After considering the contribution of Sraffa's work and indicating both its critical potential and theoretical limitations, he points to a new synthesis which embraces Marx, Keynes and Veblen.

Preface - Acknowledgements - PART 1 MARXIAN AND SRAFFIAN ECONOMICS - Marxian Economics: Value and Limitations - The Theory of the Falling Rate of Profit - Sraffa, Value and Distribution: An Expository Essay on the Capital Controversy - Marx without the Labour Theory of Value - Marxism without Tears: Reflections on 'Rational Choice Marxism' - Marx after Robinson: An Essay on the Distinction between Production and Exchange and Related Matters - PART 2 TOWARDS A NEW ECONOMICS - Theoretical and Policy Implications of Variable Productivity - Worker Participation and Macroeconomic Efficiency - Economic Pluralism and Self-Management - Economics and Systems Theory - Post Keynesianism and Institutionalism: The Missing Link - Institutional Economic Theory: The Old versus the New - Institutional Rigidities and Economic Growth - Bibliography - Index