Ian Steedman, a distinguished economic theorist, is also well known for his writings on Marx, Sraffa and on the history of economic thought. This new volume brings together some of his most important contributions. The volume covers a wide range of topics in classical and contemporary economic thought. Steedman examines the role of heterogeneous labour in classical theory; Ricardo's theory of trade and Marx's critique of Ricardo; and problems internal to Marx's own arugments. He also discusses the work of P. H. Wicksteed and W. S. Jevons, analysing Wicksteed's critique of Marx, Jevon's capital theory, conflicts of `trade' interest, and rationality and altruism in Wicksteed's thought. In the final part of the volume Steedman discusses the nature and sources of individual preferences. This book combines an interest in the history of economic thought with a concern for precise reasoning in economic theory. While providing a clear and rigorous analysis of the work of major theorists, it also addresses some of the key questions in political economy and economic theory today.