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Some Unsettled Issues in a Second Phase of the Cambridge-Cambridge Controversy

Author

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  • Andrés Lazzarini

    (National University of San Martin and CONICET, Argentina)

Abstract

The aim of this paper is to clear up some issues in a second phase of the Cambridge-Cambridge capital theory controversies, when the neoclassical argument was chiefly conducted in terms of the Walrasian specification of capital in intertemporal and temporary general equilibrium models. It is held that the response by the neoclassical side in that phase has not been as satisfactory to rebut the implications of reswitching and capital reversing as some neoclassical scholars have argued. The reason for this can be traced in the overlooking of the implications of the redefinition of equilibrium implied in those models.

Suggested Citation

  • Andrés Lazzarini, 2015. "Some Unsettled Issues in a Second Phase of the Cambridge-Cambridge Controversy," Review of Radical Political Economics, Union for Radical Political Economics, vol. 47(2), pages 256-273, June.
    • Handle: RePEc:sae:reorpe:v:47:y:2015:i:2:p:256-273
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    Citations

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    Cited by:

    1. G. C. Harcourt, 2015. "On the Cambridge, England, Critique of the Marginal Productivity Theory of Distribution," Review of Radical Political Economics, Union for Radical Political Economics, vol. 47(2), pages 243-255, June.
    2. Runze Yuan & Xi Xi & Yifan Zhang & Zhentao Liu & Chao Li & Yu Liang, 2024. "Optimal Growths from Two Perspectives, with Conditional Macro- and Micro-consistency: Dynamic Summation of Economic Variables Under Differential Regional Representative Production Functions," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 15(2), pages 8737-8766, June.
    3. Saverio M. Fratini, 2019. "On The Second Stage Of The Cambridge Capital Controversy," Journal of Economic Surveys, Wiley Blackwell, vol. 33(4), pages 1073-1093, September.

    More about this item

    Keywords

    Cambridge Controversy; capital; equilibrium; marginalist theory; Walras; neo-Walrasian models;
    All these keywords.

    JEL classification:

    • A10 - General Economics and Teaching - - General Economics - - - General
    • B21 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Microeconomics
    • B22 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Macroeconomics
    • B24 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Socialist; Marxist; Scraffian
    • B40 - Schools of Economic Thought and Methodology - - Economic Methodology - - - General

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