The Cambridge Revival of Political Economy

The marginalist revolution of the late nineteenth century consolidated what Karl Marx and Piero Sraffa called `vulgar economy¿, bringing with it an emphasis on a scarcity theory that replaced the classical surplus theory. However, the classical political economy of Adam Smith and David Ricardo has been revived within the Cambridge economic tradition. This book looks at how different branches of the Cambridge economic tradition have focused on various aspects of this revival over time.