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Production Prices and Proportions Revisited

In: Prices, Growth and Cycles

Author

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  • Ernő Zalai

Abstract

Despite all ideological debates and disagreements economists tend to agree that the economic analysis and theories of Marx are very much in line with the mainstream of contemporary economic theories based on economic equilibrium analysis. As is well known, the controversial but quite powerful theoretical framework of equilibrium analysis has been introduced into economics and gradually modified during the last centuries under the strong influence of the general scientific revolution. The early contributors used it as a colorful metaphor to describe the emerging commercial society as a system of ‘natural freedom’, which fully recognizes the rights of individuals to pursue their self-interest and in which free competition (the invisible hand) reconciles these potentially conflicting interests to the best of the society.

Suggested Citation

  • Ernő Zalai, 1997. "Production Prices and Proportions Revisited," Palgrave Macmillan Books, in: András Simonovits & Albert E. Steenge (ed.), Prices, Growth and Cycles, chapter 17, pages 280-301, Palgrave Macmillan.
  • Handle: RePEc:pal:palchp:978-1-349-25275-6_17
    DOI: 10.1007/978-1-349-25275-6_17
    as

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