The aim of this paper is to clear up some issues in a second phase of the Cambridge-Cambridge capital theory controversies, when the neoclassical argument was chiefly conducted in terms of the Walrasian specification of capital in intertemporal and temporary general equilibrium models. It is held that the response by the neoclassical side in that phase has not been as satisfactory to rebut the implications of reswitching and capital reversing as some neoclassical scholars have argued. The reason for this can be traced in the overlooking of the implications of the redefinition of equilibrium implied in those models.
BlissC.1970. Comment on Garegnani. Review of Economic Studies37: 437-438.
2.
BlissC.1975. Capital theory and the distribution of income. Amsterdam: North-Holland.
3.
BlissC.1987. Equal rates of profit. In The new Palgrave: A dictionary of economics, ed. EatwellJ.MilgateM.NewmanP.London: Macmillan.
4.
BlissC.2005. The theory of capital: A personal overview. In Capital theory, 3 vols., ed. BlissC.CohenA.HarcourtG. C.Cheltenham and Northampton: Edward Elgar.
5.
CicconeR.1999. Classical and neoclassical short-run prices: A comparative analysis of their empirical content. In Value, distribution and capital: Essays in honour of Pierangelo Garegnani, ed. MongioviG.PetriF.London: Routledge.
6.
CohenA. J.HarcourtG. C.2003. Retrospectives: Whatever happened to the Cambridge capital theory controversies?The Journal of Economic Perspectives17: 199-214.
7.
DebreuG.1959. Theory of value: An axiomatic analysis of economic equilibrium. New Haven and London: Yale University Press.
8.
DvoskinA.LazzariniA. 2013. On Walras’s concept of equilibrium. Review of Political Economy25 (1): 117-138.
9.
EatwellJ.MilgateM.1999. Some deficiencies of Walrasian intertemporal general equilibrium. In Value, distribution and capital: Essays in honour of Pierangelo Garegnani, ed. MongioviG.PetriF.London: Routledge.
10.
FergusonC. E.1969. The neo-classical theory of production and distribution. Cambridge: Cambridge University Press.
11.
GaregnaniP.1960. Il capitale nelle teorie della distribuzione. Milano: Giuffrè.
12.
GaregnaniP.1976. On a change in the notion of equilibrium in recent work on value and distribution (a comment on Samuelson). In Essays in modern capital theory, ed. BrownM.SatoK.ZarembkaP., 25-45. Amsterdam: North-Holland.
13.
GaregnaniP.1990. Quantity of capital. In The new Palgrave: Capital theory, ed. EatwellJ.MilgateM.NewmanP.London: Macmillan.
14.
GaregnaniP.2000. Savings, investment and capital in a system of general intertemporal equilibrium. In Critical essays on Piero Sraffa’s legacy in economics, ed. KurzH.Cambridge: Cambridge University Press.
15.
GaregnaniP.2003. Savings, investment and capital in a system of general intertemporal equilibrium. In General equilibrium: Problems and prospects, ed. PetriF.HahnF.London: Routledge.
16.
GaregnaniP.2005. Further on capital and intertemporal equilibria: A rejoinder to Mandler. Metroeconomica56 (4): 495-502.
17.
GaregnaniP.2008. On Walras’s theory of capital (provisional draft 1962). Journal of the History of Economic Thought30: 367-384.
18.
GrandmontJ. M.1989. Temporary equilibrium. In The new Palgrave: General equilibrium, ed. EatwellJ.MilgateM.NewmanP.London: Macmillan.
19.
HahnF. H.1975. Revival of political economy: The wrong issues and the wrong argument. Economic Record51: 360-364.
20.
HahnF. H.1982. The neo-Ricardians. Cambridge Journal of Economics6: 353-374.
21.
HarcourtG. C. 1972. Some Cambridge controversies in the theory of capital. Cambridge: Cambridge University Press.
22.
HarcourtG. C. 1975. Decline and rise: The revival of (classical) political economy. Economic Record51: 339-356.
23.
HarcourtG. C. 1976. The Cambridge controversies: Old ways and new horizons - or dead end?Oxford Economic Papers28: 25-65.
24.
HicksJ. R.1946. Value and capital, 2nd ed.Oxford: Clarendon Press [1939, 1st ed.].
25.
LazzariniA.2011. Revisiting the Cambridge capital theory controversies: A historical and analytical study. Pavia: Pavia University Press.
26.
MandlerM.2002. Classical and neoclassical indeterminacy in one-shot versus ongoing equilibria. Metroeconomica53 (3): 203-222.
27.
MandlerM.2005. Well-behaved production economies. Metroeconomica56 (4): 477-494.
28.
MirowskiP.1989. More heat than light: Economics as social physics, physics as nature’s economics. Cambridge: Cambridge University Press.
29.
PetriF. 2004. General equilibrium, capital and macroeconomics: A key to recent controversies in equilibrium theory. Cheltenham: Edward Elgar.
30.
PetriF. 2009. On the recent debate on capital theory and general equilibrium. Quaderni del Dipartimento di Economia Politica dell’Università degli Studi di Siena n. 568.
31.
RobinsonJ.1970. Capital theory up to date. Canadian Journal of Economics3: 309-317.
32.
RobinsonJ.1971. The measurement of capital: The end of the controversy. Economic Journal81 (September): 597-602.
33.
SamuelsonP. A.1966. A summing up. Quarterly Journal of Economics80 (November): 568-583.
34.
SchlichtE.1985.Isolation and aggregation in economics. Berlin: Springer-Verlag.
35.
SmithA.1976 [1776]. An inquiry into the nature and causes of the wealth of nations, ed. CampbellR. H.SkinnerA. S.Oxford: Clarendon Press.
36.
WalrasL.1926 [1954]. Elements of pure economics or the theory of social wealth. 5th definitive ed., trans. JafféW.London: George Allen and Unwin.
37.
WicksellK.1901 [1934]. Lectures on political economy, volume I. London: Routledge.
