NYU Press Transformational Growth and Effective Demand: Economics after the Capital Critique

This collection of essays develops Edward Nell's influential theory of transformational growth. Nell sets established concepts such as the classical notion of prices of production and the wage-profit frontier within a significant new framework that illustrates their role in the dynamic evoution of the industrial system from its beginnings in feudalism through the early capitalism of the family firms to the modern system of effective demands and multiplier adjustments. The essays present the method and its relation to the capital critique before developing the main ideas of transformational growth through a series of historical studies culminating in a revised theory of the multiplier. Outlining policies which strongly affirm an expansionist approach, Nell porposes a reconstruction of macroeconimics. Review "A ground-breaking interdisciplinary anthology entirely devoted to the studies of historical and contemporary African/Asian interactions."-"African American Review", "As fresh and exciting as it is important. This crucial book changes the conversation around American Studies and Ethnic Studies in key ways, challenging scholars to light out for previously-uncharted places on our mental maps in which borders are interrogated and challenged, alliances forged through imagined communities, commerce, popular culture, or politics are investigated and probed, and questions that are simultaneously new, and half a century old, are revivified. This volume, the first interdisciplinary anthology dealing with AfroAsian encounters, stands to become a landmark work in the field."-Shelley Fisher Fishkin, Stanford University "Succeeds at placing blacks and Asians at the center of the Americas, inviting productive dialogue against the notion that interaction between these groups is out of the ordinary."-"Journal of American Ethnic History", "This collection is evidence of the important topics and perspectives generated by illuminating AfroAsian linkages."-"The Journal of African American History", "What critical anthologies do best is to present. . . . And "AfroAsian Encounters" does that."-"Journal of Asian American Studies", About the Author Edward J. Nell is Professor of Economics at the New School for Social Research and the author of Keynes After Sraffa.