Румен Андреев, R. Andreev
2023.11.21Proceedings of the Centre for Economic History Research
tlooto Summary
Classical political economy concepts of value and rent contrast with mainstream economic theory after the marginalist revolution.
Abstract
: For a long time it was believed that the marginalist revolution rejected classical political economy and created modern economic science. In fact, various problems that had been studied by classical political economy ware completely neglected and unexplored by mainstream economic theory since the marginalist revolution. The purpose of the article is to present facts that classical political economy and mainstream theory after the marginalist revolution explore quite different problems in economic science. Two of the turning point concepts in economic theory are analyzed, that of value and land rent, which are decisive for the foundation of classical political economy. The concept of land rent as part of the distribution is almost absent from mainstream theory
Citation format
АНДРЕЕВ, Румен; ANDREEV, R. Classical political economy concepts of value and rent against mainstream economic theory. Proceedings of the Centre for Economic History Research, 2023.