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

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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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.

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Additional Information:

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


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


23 September 2014Accepted
20 January 2015Published Online
1 June 2015Published

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Date Deposited:

27 Jan 2020 15:51

Last Modified:

19 Feb 2024 16:20

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Yes, this version has been peer-reviewed.


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