The Demise of Radical Political Economics? An Essay on the Evolution of a Theory of Capitalist Production
AbstractThe paper traces the historical development of American radical economics. The focus is on the work of Samuel Bowles and Herbert Gintis. The central aim is to examine the implications of their recent move towards neoclassical economics for the study of capitalist production in particular, and the future of American radical economics more generally. By embracing neoclassical concepts and methodology, radical economists have denied themselves the opportunity to elucidate both the bases of capitalist class conflict, and the nature of more complex social interactions at the point of production. American radical economics once provided a powerful critique of capitalism and its system of production, but it now struggles to provide more than a policy prescription for reduced levels of opportunism among individual workers. American radical economics cannot remain a distinctive voice in economics while it retains such close associations with neoclassicism. Copyright 2000 by Oxford University Press.
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Bibliographic InfoArticle provided by Oxford University Press in its journal Cambridge Journal of Economics.
Volume (Year): 24 (2000)
Issue (Month): 5 (September)
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- Gintis, Herbert, 1972. "A Radical Analysis of Welfare Economics and Individual Development," The Quarterly Journal of Economics, MIT Press, vol. 86(4), pages 572-99, November.
- Nicolaides, Phedon, 1988. "Limits to the Expansion of Neoclassical Economics," Cambridge Journal of Economics, Oxford University Press, vol. 12(3), pages 313-28, September.
- David Spencer, 2003. "Love's labor's lost? the disutility of work and work avoidance in the economic analysis of labor supply," Review of Social Economy, Taylor & Francis Journals, vol. 61(2), pages 235-250.
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