Contending Economic Theories

Clear, comprehensive, and brimming with provocative insights, this new book by Richard Wolff and Stephen Resnick's book is a much-needed presentation of the three theories—neoclassical, Keynesian, and Marxist—that make up the contested terrain of contemporary economics. There is simply no other text that brings together the material assembled here. Throughout, the authors are sensitive to the causes and consequences of theoretical differences and demonstrate—to teachers and students of economics, and to everyone else who wants to learn about economic debates in the world today—that economic theories really do matter.

David F. Ruccio, Professor of Economics, University of Notre Dame

At a time when the world is in an economic tailspin, confusion over the 'dismal science' has never been more pronounced. By carefully describing neo-classical microeconomics and Keynesian macro-economics, and by juxtaposing both to Marxian economic theory, Richard Wolff and Stephen Resnick provide an essential guide for building a more just future.

David Fasenfest, Wayne State University; editor, Critical Sociology

Richard Wolff and Stephen Resnick treat their readers as adults who can, and in fact must, choose among theories, rather than as children who need to be spoon-fed the truth. Their clear and creative presentation of the different entry points, logics and conclusions of neoclassical, Keynesian and Marxian theories makes this by far the best comparative treatment of economics available today. Readers will have a grasp of the history of these theories as well as the latest developments in them, and will see how theories change in mutual interaction with changes in the economy. Which theory we choose to follow matters profoundly. Contending Economic Theories gives students the tools to choose for themselves.

Richard McIntyre, University Honors Program Director, Professor of Economics, University of Rhode Island