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Manual of Political Economy - A Critical and Variorum Edition (Hardcover, Critical And Variorum Ed)
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Manual of Political Economy - A Critical and Variorum Edition (Hardcover, Critical And Variorum Ed)
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Vilfredo Pareto's Manual of Political Economy is a "classic" study
in the history of economic thought for many reasons, the most
noteworthy of which include the setting of general equilibrium
economics within a choice theoretic framework based on the
opposition between tastes and obstacles; the definitive formulation
of economic efficiency, including the surplus approach to
collective welfare; the technically flawed but nonetheless
insightful treatment of path dependence in consumer theory; and the
introduction of non-competitive market analysis to the general
equilibrium economics. In so doing, Pareto's general study of
economic equilibrium not only substantially extended the
contributions to economic theory made by Leon Walras, his
predecessor in the Chair of Political Economy at the University of
Lausanne, it did so in a manner that was often contrary to Walras's
own thinking on the formalisation of economic theory.
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This English language "critical edition" of Pareto's Manual of
Political Economy - a revised and extended translation of the
'Edizione critica' published in Italian in 2006 - is a very
significant book for two main reasons. First, it is the only
variorum translation of the Italian language Manuale di Economia
Politica, originally published in 1906, and the subsequent French
language Manuel d'Economie Politique, originally published in 1909.
Second, it includes extensive contributions from the editors
including annotations, to clarify particular points in Pareto's
text; editors' notes, to critically reflect on major themes in
Pareto's text and to draw attention to the historical influences
that led to their development and their anticipation of, or
influence on, subsequent ideas that emerged in economics; and notes
to the 1909 mathematical appendix, to highlight the mix of insight
and imperfection in Pareto's mathematical economics.
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