| Description |
xiv, 281 pages : illustrations ; 25 cm |
| Contents |
Pt. I. Introduction. 1. Methodological considerations. 2. The model. 3. Stationary economy -- Pt. II. Changing Economy I: Growth or Decrease of Labour Force. 4. Two dynamic effects. 5. Quantity and price equations -- Pt. III. Changing Economy II: Technological Progress. 6. Once-and-for-all technological change. 7. Continuous unembodied technological progress. 8. Embodied technological progress. 9. Evaluation of investment projects -- Pt. IV. The Choice of Techniques. 10. Price-quantity duality. 11. Technological frontier -- Pt. V. Extensions. 12. Joint production. 13. Rent -- Pt. VI. Generalizations. 14. Many consumer goods. 15. Many capital goods. 16. The general case: many consumer and producer goods |
| Summary |
By introducing a new economic paradigm - and in so doing offering a solution to the long-standing labour theory of value controversy - this book makes a series of important innovations and will be welcomed as a major contribution by neo-Ricardians, Marxists, post-Keynesians and critical neoclassicals |
|
In The Theory of Value, Capital and Interest, Branko Horvat puts forward a new economic theory, relevant to real-world economics. This radical and innovative book deals with the economy as a system which includes producers, consumers and a social regulating agency, rather than simply as an aggregate of individuals. Beginning with an essay on economic methodology which analyses the underpinnings of neoclassical economics, the author presents a two-sector canonical model which is used to establish equilibrium prices and quantities in a stationary and growing economy. This thesis distinguishes two sources of growthexpansion of the labour force and technological progress - and also discusses criteria for investment. Later chapters extend Professor Horvat's model to include joint production and rent, and present a general case which allows for many consumer and producer goods |
| Analysis |
Economics |
| Notes |
Bibliography: p268-275. - Includes indexes |
| Bibliography |
Includes bibliographical references (pages 268-275) and indexes |
| Subject |
Capital.
|
|
Interest.
|
|
Labor theory of value.
|
| LC no. |
94016372 |
| ISBN |
1858980550 |
|
