Dilemmas in Economic Theory - Mandler, Michael
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This text compares the economic theory of the early neoclassical economists with the theory of value of the post-World War II period, and in particular the Arrow-Debreu model of general equilibrium. It argues that many of the problems faced in the early part of the century, that led in many cases to revolutions in the 1930s and 40s, have not been successfully resolved by later theoretical work.
By examining the development of economics in the 20th century, this book argues that the breakthroughs of post WWII general equilibrium theory and its rejection of utilitarianism and marginal…mehr

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This text compares the economic theory of the early neoclassical economists with the theory of value of the post-World War II period, and in particular the Arrow-Debreu model of general equilibrium. It argues that many of the problems faced in the early part of the century, that led in many cases to revolutions in the 1930s and 40s, have not been successfully resolved by later theoretical work.
By examining the development of economics in the 20th century, this book argues that the breakthroughs of post WWII general equilibrium theory and its rejection of utilitarianism and marginal productivity have been misunderstood. Mandler maintains that although earlier neoclassicism deserved criticism, current theory does not adequately address the problems the discarded concepts were designed to solve, and that intractable dilemmas therefore appear.