Capital and Credit

Name: Capital and Credit
Brand: Cambridge University Press
SKU: 9780521418409
Price: 772.35 RON
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A New Formulation of General Equilibrium Theory

Autor: Michio Morishima

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Legare: Copertă tare

Editura: Cambridge University Press

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Contemporary general equilibrium theory is characteristically short-run, separated from monetary asp...

Informații despre carte

Autor

Michio Morishima

Limbă

engleză

Legare

Carte - Copertă tare

Publicat

1992

Pagini

226

EAN

9780521418409

ISBN

0521418402

Enbook ID

02030218

Editura

Cambridge University Press

Greutate

500

Dimensiuni

152 x 229 x 16

Descriere completă

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 assumes a given or shifting production function, and in turn cannot therefore deal with the fundamental problem of growth, namely how the production function is derived. Thus traditional theories have a common weakness in that they divorce real economic growth from the activities of the financial sector. This book provides a much-needed synthesis of growth theory and monetary theory. Professor Morishima draws on the work of Schumpeter, Keynes and the pre-war neoclassical economists to formulate a capital-theoretic general equilibrium theory.

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Capital and Credit

A New Formulation of General Equilibrium Theory

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Descriere completă

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