ABSTRACT
Of all the major debates in the history of economic theory, probably the one most perplexing to a contemporary observer is the Cambridge capital controversy. While the debate raised passions on both sides to levels seldom witnessed in ‘academic’ discussions, at the end of it all one was left with the somewhat curious spectacle of both armies clutching their respective flags and claiming victory. Given the obviously unsettled nature of the debate, a natural question has been – why was there no decision? Why is it that issues perceived as ‘scientific’ by participants on both sides alike were left unresolved? Why couldn’t the formal protocols of mathematics, logic and economic theory bring closure to this debate?
