The Evolution of Economic Theory Essays in Honour of Bertram Schefold Routledge Studies in the History of Economics Series

Bertram Schefold is recognized internationally as an outstanding economist. He has made major contributions to the development of economic theory and particularly to economic thought. His contributions to economic theory include his work on Sraffian economics and its implications for the theory of value and distribution, capital theory, growth and technical progress.

This book consists of ten papers by distinguished economists from Europe, the United States and Japan. The papers cover a range of topics chosen according to Bertram Schefolds main fields of research, from Wicksell?s principle of just taxation to Sraffa and the Universal Basic Income to Marx?s Theory of Value.

Covering Schefold's main areas of academic interest, this is an important and comprehensive volume which is a fitting tribute to one of the foremost economic thinkers of our age.

Introduction Volker Caspari Part 1: Marxian and Sraffian Economics 1. Sraffa and the Universal Basic Income Guglielmo Chiodi 2. The Long-Period Method and Marx’sTheory of Value Duncan K. Foley 3. Exhaustible Resources: Rents, Profits, Royalties, and Prices Heinz D. Kurz andNeri Salvadori Part II: Capital Theory 4. On the Recent Debate on Capital Theory and General Equilibrium Fabio Petri 5. Capital ‘Perversities’ in a One (New) Commodity Model Ian Steedman Part III: History of Economic Thought 6. Walras-Cassel, the German Connection Revisited Alain Alcouffe 7. Knut Wicksell’s Principle of Just Taxation Revisited Charles B. Blankart and Erik R. Fasten Part IV: Macro and Applied Economics 8. The Matching of Interactive Agents in the Futures Stock Market and the U-Mart Experiment Yuji Aruka and Yuhsuke Koyama 9. Macroeconomics with Non-Clearing Labour Market Willi Semmler and Gang Gong 10. Choosing between foreign investment and subcontracting: Strategies of Italian firms in Romania Giuseppe Tattara