This 1974 collection of six essays in economic theory represents a
major contribution to the field. The first contains the formulation
of the Ricardian system, whilst the next two contain, respectively,
the author's synthetic treatment of the complex problems of
fluctuations and economic growth, and his well-known theorem that
in the long run the rate of profit and income distribution are
independent of the propensities to save of the working class. The
essays that follow provide the missing links: a coherent picture of
the macroeconomic theories that have originated in Cambridge and a
discussion of their deep foundations in classical economic
analysis. Finally, the author evaluates some economic controversies
and draws his conclusions on the basic forces determining rate of
profit in the process of economic growth. Although the arguments
are highly theoretical, they require no knowledge of mathematics
beyond elementary calculus and algebra.
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