Economics: Marxian versus Neoclassical

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Abstract:

Economics: Marxian versus Neoclassical is an economics text with a difference--a concise, systematic comparison of the two major contending economic theories in the world today. Richard Wolff and Stephen Resnick provide a unique and balanced explication of the differing assumptions and arguments of neoclassical and Marxian economics. Their treatment of Marxian theory assumes no familiarity with the subject proceeding from first principles through analysis and social implications and integrating the important developments of the past twenty-five years. The discussion of neoclassical theory includes a coherent overvew often obscured in standard introductions to economics. Throughout, math is used simply and sparingly. Wolff and Resnick address broader aspects of evaluating or choosing between alternative theories, but their conclusions are nonpolemical. Economics: Marxian versus Neoclassical provides not just an explanation but an appreciation of the two great traditions in modern political economy.

Contents

• Two Different Theories
• Neoclassical Theory
• Marxian Theory
• The Importance of Theoretical Differences

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