Classical Political Economics and Modern Capitalism

Classical Political Economics and Modern Capitalism

Theories of Value, Competition, Trade and Long Cycles

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This book promotes an in-depth understanding of the key mechanisms that govern the functioning of capitalist economies, pursuing a Classical Political Economics approach to do so. It explores central theoretical issues addressed by the classical economists Smith and Ricardo, as well as Marx, while also operationalizing more recent theoretical developments inspired by the works of Sraffa and other modern classical economists, using actual data from major economies.On the basis of this approach, the book subsequently provides alternative explanations for various microeconomic issues such as the ...