The 'classical' approach to economic problems, which can be traced back to Adam Smith and David Ricardo, has seen a remarkable revival in recent years. The essays in this collection argue that this approach holds the key to an explanation of important present day economic phenomena. Focusing on the analytical potentialities of classical economics, the contributors illustrate how an important element of understanding its approach consists of developing and using its explanatory power.

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Heinz D Kurz (University of Graz, Austria Karl-Franzens-University Graz, Austria), Neri Salvadori (Universita degli Studi, Pisa)

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Understanding 'classical' Economics : Studies in Long Period Theory

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