Value and Distribution

VALUE AND DISTRIBUTION in Neoclassicl and Classical Systems is based on the author`s lectures to M.A. students of economics of the Uniersity of Bombay. It was published in 1980 as PRODUCTION, PRICES AND DISTRIBUTION in Neoclassical and classical systems and reprinted in 1985. The present work, which is a rvised version of that book, seeks to present to the reader, in an ahistorical setting, two alternative systems of economic analyses. Part I of the book explains the Neoclassical Theory: consumer`s Choice and Demand; Production; costs of production and supply; prices; perfect competition; prices: Imperfect Competition; Distribution: and General Equilibrium. Part II spells out the Classical Theory: Smith and Ricardo; Marx`s System; Sraffa`s System: “capital” controversy; and Distribution. An Introduction on the concept of value in, and on the salient features of Neoclassical and Classical theories, sets the stage for the analyses which follow.
Exahuastive notes and references, and Appendices designed to enrich understanding of the theme of the book, follow individual chapters. The book with its satisfying approach, style and converage, should provide a useful text to students of economic theory.