Capital and Credit: A New Formulation of General Equilibrium Theory

Contemporary general equilibrium theory is characteristically short-run, separated from monetary aspects of the economy, and as such does not deal with long-run problems such as capital accumulation, innovation, and the historical movement of the economy. These phenomena are discussed by growth theory, which being short term, cannot deal with the fundamental problem of how the production function is derived. This book provides a much-needed synthesis of growth and monetary theory, drawing on the work of Schumpeter, Keynes and the prewar neoclassical economists to formulate a capital-theoretic general equilibrium theory.

Author: Michio Morishima
Publisher: Cambridge University Press
Published: 03/25/1994
Pages: 226
Binding Type: Paperback
Weight: 0.50lbs
Size: 8.96h x 5.96w x 0.43d
ISBN: 9780521466387

This title is not returnable