Some Unsettled Issues in a Second Phase of the Cambridge-Cambridge Controversy

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Lazzarini, Andres. 2015. Some Unsettled Issues in a Second Phase of the Cambridge-Cambridge Controversy. Review of Radical Political Economics, 47(2), pp. 256-273. ISSN 0486-6134 [Article]

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Official URL: https://journals.sagepub.com/doi/10.1177/048661341...

Abstract or Description

The aim of this paper is to clear up some issues in a second phase of the Cambridge-Cambridge capital theory controversies, when the neoclassical argument was chiefly conducted in terms of the Walrasian specification of capital in intertemporal and temporary general equilibrium models. It is held that the response by the neoclassical side in that phase has not been as satisfactory to rebut the implications of reswitching and capital reversing as some neoclassical scholars have argued. The reason for this can be traced in the overlooking of the implications of the redefinition of equilibrium implied in those models.

Item Type:

Article

Identification Number (DOI):

https://doi.org/10.1177/0486613414557916

Additional Information:

JEL codes: A10, B21, B22, B24, B40

Keywords:

Cambridge Controversy, capital, equilibrium, marginalist theory, Walras, neo-Walrasian models

Departments, Centres and Research Units:

Institute of Management Studies
Institute of Management Studies > Structural Economic Analysis

Dates: