By examining the development of economics in the 20th century, this book argues that the breakthroughs of post-World War II general equilibrium theory and its rejection of utilitarianism and marginal productivity have been misunderstood

I analyze two connections between neoclassical and classical economics. First, I consider the indeterminacy that arises for both schools: In the neoclassical theories of overlapping generations and of factor pricing and in Sraffa's price theory. Neoclassical indeterminacy occurs only in...