Capital Theory, the Surplus Approach, and Effective Demand

Focusing on the theory of value and distribution, this collection showcases Pierangelo Garegnani's influential essays, selected by the author himself. It emphasizes the continuation of Piero Sraffa's critique of marginalist thought, particularly concerning capital treatment. Garegnani also reexamines the classical political economy's surplus approach to distribution. His work aims to strengthen the Keynesian principle of effective demand by eliminating marginalist elements and integrating classical distribution explanations, offering a comprehensive alternative economic perspective.