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Income Distribution and Environmental Sustainability - A Sraffian Approach (Hardcover)
Loot Price: R4,433
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Income Distribution and Environmental Sustainability - A Sraffian Approach (Hardcover)
Series: Routledge Frontiers of Political Economy
Expected to ship within 12 - 17 working days
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Any economics that does not deal forthrightly with economic
inequality is no longer suitable for the twenty-first century.
Similarly, any economics which does not provide a coherent way to
integrate environmental sustainability into economic analysis will
fail to command allegiance in the century ahead. This book
demonstrates how the Sraffian framework provides important
advantages in both areas. Divided into three chapters, Income
Distribution and Environmental Sustainability provides a rigorous
exposition of Sraffian theory emphasizing what it means for the
economy to be productive, extends Sraffian theory to address
environmental sustainability, and adds a normative theory of income
distribution to Sraffa's positive theory. In Chapter 1, a rigorous
version of the basic Sraffa model is presented which focuses on
what it means for the economy to be capable of producing a physical
surplus, explains the origin of profits, and shows how to measure
changes in overall labor productivity resulting from any technical
change. In Chapter 2, the basic model is extended to incorporate
primary inputs from the natural environment, rigorously measure
changes in environmental throughput efficiency, and establish
sufficient conditions for environmental sustainability. In Chapter
3, an explicit "normative" theory of economic justice is elaborated
which is a natural extension of Sraffa's "positive" theory of
income determination and consistent with modern egalitarian
literature on distributive justice. This book is of interest to
academics and students who study political economy, economic
theory, and philosophy, as well as those interested in the work of
Piero Sraffa.
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