This new volume explores two alternative economic theories - the classical theory and the marginalist or neoclassical theory- through a discussion between two eminent economists, Pierangelo Garegnani and Paul Samuelson. The key themes of the volume are the difference in approaches to the explanation of the distribution of income and relative prices, and therefore different approaches to all other economic problems, in particular capital accumulation and economic growth. The book discusses whether there is a 'classical' approach to the theory of value and distribution at the core of economic theory that is fundamentally different from the later marginalist or neoclassical theory. In the volume, the late Pierangelo Garegnani argues for the validity of Piero Sraffa's position on this issue, whilst the late noble laureate Paul Samuelson vehemently contests it. At a time of economic crisis, the future of the discipline is far from certain, and so it is extremely important to bring these debates back into the light, by reproducing them together for the first time. A comprehensive introduction by Heinz Kurz sets the debate in this context, and provides crucial background to the arguments.

This new volume explores two alternative economic theories - the classical theory and the marginalist or neoclassical theory- through a discussion between two eminent economists, Pierangelo Garegnani and Paul Samuelson. The key themes of the volume are the difference in approaches to the explanation of the distribution of income and relative prices, and therefore different approaches to all other economic problems, in particular capital accumulation and economic growth. The book discusses whether there is a 'classical' approach to the theory of value and distribution at the core of economic theory that is fundamentally different from the later marginalist or neoclassical theory. In the volume, the late Pierangelo Garegnani argues for the validity of Piero Sraffa's position on this issue, whilst the late noble laureate Paul Samuelson vehemently contests it. At a time of economic crisis, the future of the discipline is far from certain, and so it is extremely important to bring these debates back into the light, by reproducing them together for the first time. A comprehensive introduction by Heinz Kurz sets the debate in this context, and provides crucial background to the arguments.

Ian Steedman is recognised internationally as one of the leading economic theorists of his time and has made major contributions to the development of economic theory and economic thought, as substantiated by his work on Marx, Sraffa, Marshall, Jevons and Wicksteed. His contributions to economic theory include his work on time, international trade, capital theory and growth and distribution. This collection reflects the wide ranging interests of Ian Steedman and is a tribute to his outstanding contributions. This edited collection brings together twenty two new essays by distinguished economists from around the world. The papers cover a wide range of topics including; international trade - an area in which Steedman has made significant contributions; Sraffa, the history of economic thought and theoretical papers - including Faustian Agents and market failure in waste production. The essays in this book will be an invaluable source for economists interested in economic theory or in the evolution of economic thought. It will also be of interest to postgraduate and research students in economic theory and the history of economic thought. John Vint is Professor of Economics at Manchester Metropolitan University, UK. J. Stanley Metcalfe is Professor of Economics at the University of Manchester, UK. Heinz D. Kurz is Professor of Economics at the University of Graz, Austria. Neri Salvadori is Professor of Economics at the University of Pisa, Italy. Paul Samuelson is Professor of Economics at the Massachusetts Institute of Technology, USA.

Ian Steedman is recognised internationally as one of the leading economic theorists of his time and has made major contributions to the development of economic theory and economic thought, as substantiated by his work on Marx, Sraffa, Marshall, Jevons and Wicksteed. His contributions to economic theory include his work on time, international trade, capital theory and growth and distribution. This collection reflects the wide ranging interests of Ian Steedman and is a tribute to his outstanding contributions. This edited collection brings together twenty two new essays by distinguished economists from around the world. The papers cover a wide range of topics including; international trade - an area in which Steedman has made significant contributions; Sraffa, the history of economic thought and theoretical papers - including Faustian Agents and market failure in waste production. The essays in this book will be an invaluable source for economists interested in economic theory or in the evolution of economic thought. It will also be of interest to postgraduate and research students in economic theory and the history of economic thought. John Vint is Professor of Economics at Manchester Metropolitan University, UK. J. Stanley Metcalfe is Professor of Economics at the University of Manchester, UK. Heinz D. Kurz is Professor of Economics at the University of Graz, Austria. Neri Salvadori is Professor of Economics at the University of Pisa, Italy. Paul Samuelson is Professor of Economics at the Massachusetts Institute of Technology, USA.

NIGHT FEAR follows a young ex-paratrooper struggling with "battle fatigue" as he sets out to uncover who murdered the Army medic who saved his life in Germany.

Samuelson's text was first published in 1948, and it immediately became the authority for the principles of economics courses. The book continues to be the standard-bearer for principles courses, and this revision continues to be a clear, accurate, and interesting introduction to modern economics principles. Bill Nordhaus is now the primary author of this text, and he has revised the book to be as current and relevant as ever.