Classical Economic Fashion Redux: Growth Economics to the Forefront

Stanley Bober
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Stanley Bober: Duquesne University

Eastern Economic Journal, 1991, vol. 17, issue 1, 122-129

Abstract: This paper provides an understanding for the emergence of the new non-neoclassical paradigm considered as Neo-Ricardian Economics. There is a look at two overall events that seemed to propel the move to putting Growth Economics at the core of what Economics is about. The reader is treated to the essentials of the traditional i.e. Neoclassical mechanism which is juxtaposed with that of the Classical-surplus approach, and selected items of difference between them are highlighted. In particular there is some discussion of approaches to income determination and the relation of the rate of profit to the degree of capital intensity. Questions concerning production lead to questions concerning income distribution; the paper points up some of the differences involved in the answers provided by these two certainly very opposite ways of modeling the external world.

JEL-codes: E12 O14 O23 (search for similar items in EconPapers)
Date: 1991
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Persistent link: https://EconPapers.repec.org/RePEc:eej:eeconj:v:17:y:1991:i:1:p:122-129

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