Normal prices, technical change and accumulation:
Gespeichert in:
| Beteilige Person: | |
|---|---|
| Format: | Buch |
| Sprache: | Englisch |
| Veröffentlicht: |
Basingstoke [u.a.]
Macmillan [u.a.]
1997
|
| Ausgabe: | 1. publ. |
| Schriftenreihe: | Studies in political thought
|
| Schlagwörter: | |
| Links: | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=007648784&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
| Umfang: | XV, 577 S. graph. Darst. |
| ISBN: | 0333621298 0312161476 |
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Datensatz im Suchindex
| _version_ | 1819286572592267264 |
|---|---|
| adam_text | Normal Prices,
Technical Change and
Accumulation
Bertram Schefold
Professor of Economics
Johann Wolfgang Goethe-Universitat
Frankfurt am Main
Contents
Preface
Acknowledgements
1 Introduction: Sraffa s Theory Today
The teacher
The early critique
Production of commodities
Intertemporal equilibrium
The classical method
Joint production
The composition of output
Distribution
The Prelude and its implications
XI
XV
PART I GENERAL PROPERTIES OF SINGLE AND JOINT
PRODUCTION SYSTEMS
2 Multiple Product Techniques with Properties of Single
Product Systems 21
2 1 Single versus joint production 22
2 2 Negative labour values, indispensable processes and
separately producible commodities 27
2 3 All-engaging systems and switches of techniques 29
2 4 General joint production systems 34
25A remark on technical progress 39
3 Relative Prices as a Function of the Rate of Profit:
A Mathematical Note 46
31A new mathematical theorem 46
3 2 Values and prices: the rule and the exception SI
3 3 Uniqueness of the system yielding a given vector of
prices 55
3 4 Reswitching and the technology set 57
3 5 Wicksell effects i 68
3 6 The capital-wages ratio 71
vi Contents
4 The Standard Commodity as a Tool of Economic
Analysis 76
4 1 Introduction 76
4 2 The standard commodity in economic analysis 77
4 3 The search for an invariable measure of value and
Sraffa s development of the standard commodity 79
44A mathematical formulation 87
45A comment on Flaschel 94
PART II THE DOMINANT TECHNIQUE
5 On Counting Equations 101
5 1 Introduction 101
5 2 Comparing wage curves and optimal solutions:
general case 105
5 3 Properties of regular systems 115
5 4 Counting of equations 127
5 5 Example 132
6 Von Neumann and Sraffa: Mathematical Equivalence
and Conceptual Difference 135
6 1 The framework of comparison 135
611 Prices and technical change in Sraffa
systems 135-
612 Growth and technical change in Sraffa
systems 138
613 The von Neumann approach 139
614 Establishing formal equivalence 140
615 Intersecting and coinciding wage curves 143
6 2 Conceptual differences 145
621 Equilibrium and processes 145
622 Beyond the golden rule 147
623 Summary 148
Appendix: Mathematical Formulation 150
7 The Dominant Technique in Joint Production Systems 156
7 1 Introduction 156
7 2 The dominant technique 163
7 3 What has been achieved? 173
Contents vii
Appendix 1: Graphic Illustrations and Examples 176
Appendix 2: The Influence of Changes of the
Composition of Output on the Dominant Technique 180
Appendix 3: Proofs of the Theorems 191
8 Joint Production: A Further Assessment 197
8 1 Introduction 197
8 2 Puzzles and more serious problems 198
8 3 Important areas of research 200
Appendix 205
PART III FIXED CAPITAL AND TECHNICAL PROGRESS
9 Fixed Capital as a Joint Product 211
9 1 Introduction 211
9 2 Machines 212
9 3 Integrated systems and finished goods 218
9 4 Prices and intermediate goods (old machines) 220
9 5 Truncation theorems 226
Appendix: Proofs of the Mathematical Theorems 232
10 Reduction to Dated Quantities of Labour, Roundabout
Processes and Switches of Technique in Fixed Capital
Systems 240
10 1 Reduction 240
10 2 Fixed capital and the centre 242
10 3 Interpretation of centre coefficients 245
10 4 Further applications 248
10 5 Roundabout processes 252
11 Different Forms of Technical Progress 257
11 1 Introduction 257
11 2 Saving of labour 258
11 3 Mechanisation 260
11 4 Effects of mechanisation 265
11 5 Other forms of technical progress 268
11 6 Marx s temporary retreat to Ricardo 270
11 7 Conclusions 273
viii Contents
12 Capital, Growth and Definitions of Technical Progress 276
- 12 1 A contrast between the theories of capital and
growth 276
12 2 The avalanche of switchpoints 278
12 3 The superiority of techniques 280
12 4 Simple forms of technical progress 283
PART IV THE COMPOSITION OF OUTPUT
13 Sraffa and Applied Economics: Joint Production 291
13 1 The classical method 291
13 2 Joint production and accounting 293
13 3 Why square joint production systems? 297
13 4 Examples for the use of square systems 300
13 5 Counting of equations - I: the case of
overdetermination 301
13 6 Counting of equations - II: the case of
underdetermination 303
13 7 Counting of equations - HI: a more systematic
presentation for a special case 306
13 8 Revival and development of the classical method 311
14 On Changes in the Composition of Output 317
14 1 Introduction: preferences and needs 317
14 2 The surplus approach 333
14 3 Single product systems and constant returns 337
14 4 Joint production 342
14 5 Variable returns and technical progress 350
14 6 Conclusion 354
PART V RELATIONS BETWEEN CLASSICAL,
NEOCLASSICAL AND KEYNESIAN THEORIES
15 Joint Production, Intertemporal Preferences and
Long-period Equilibrium 359
15 1 Permanent and transient states 359
15 2 Demand and distribution 361
15 3 The free-goods rule 364
15 4 Square systems 365
Contents ix
15 5 Effects of quantity variations: normal cost curves
and demand 374
15 6 Capital theory, intertemporal models and
long-period equilibrium 377
15 7 Conclusions 382
16 The Market and the Classical Theory of Prices 386
16 1 The revival of classical theory 386
16 2 Demand, distribution and prices 391
17 On the Classical and Marshallian Foundations of
Keynesian and Post-Keynesian Economics 398
Introduction
Kahn on Malinvaud: a restatement
Keynes and Marshall
Equilibrium curves and effective demand in
classical theory
Which microfoundation? For What?
18 Classical Theory and Intertemporal Equilibrium 425
18 1 Part One: intertemporal equilibrium and the long
period 425
18 1 1 Neoclassical long-period equilibrium and
intertemporal equilibrium 425
18 1 2 Some properties of an intertemporal
equilibrium in transition towards the
long period 432
18 1 3 Intertemporal equilibrium, measure of
capital and theory of employment 441
18 1 4 Gravitation to classical and neoclassical
equilibria of the long period 449
18 1 5 Rates of growth and rates of profit 453
18 2 Part Two: reswitching in an intertemporal
equilibrium model 460
18 2 1 An intertemporal model 461
18 2 2 Time paths of quantities and prices 470
18 2 3 The convergence of prices and of the
choice of technique to long-run conditions 474
x Contents
18 24A spectrum of techniques with reswitching
and employment opportunity reversals 477
18 2 5 Different equilibrium paths and their
interpretation 483
19 Schumpeter as a Walrasian Austrian and Keynes as a
Classical Marshallian 502
19 1 Schumpeter: rival of Keynes 502
19 2 Schumpeter s theory of cyclical development 507
19 3 Walras theory of capital: a legacy repudiated 516
19 4 Keynes: Marshall, liquidity preference and
little else? 519
19 5 Who won? 522
20 Ecological Problems as a Challenge to Classical and
Keynesian Economics 525
20 1 Looking around 526
20 1 1 Five layers of environmental disruption 526
20 1 2 Different economic systems 533
20 1 3 Are our measures to improve matters
counterproductive? 535
20 2 Classical economic theory and environmental issues:
some heretical speculations 536
20 3 Neoclassical approaches and two of their classical
counterparts 543
Bibliography 550
Index 563
|
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| illustrated | Illustrated |
| indexdate | 2024-12-20T10:11:24Z |
| institution | BVB |
| isbn | 0333621298 0312161476 |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-007648784 |
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| physical | XV, 577 S. graph. Darst. |
| publishDate | 1997 |
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| series2 | Studies in political thought |
| spellingShingle | Schefold, Bertram 1943- Normal prices, technical change and accumulation Klassische Nationalökonomie (DE-588)4128353-3 gnd Technischer Fortschritt (DE-588)4059252-2 gnd Neoklassische Theorie (DE-588)4115360-1 gnd Keynessche Theorie (DE-588)4030426-7 gnd Kapitaltheorie (DE-588)4130460-3 gnd Produktionstheorie (DE-588)4121520-5 gnd |
| subject_GND | (DE-588)4128353-3 (DE-588)4059252-2 (DE-588)4115360-1 (DE-588)4030426-7 (DE-588)4130460-3 (DE-588)4121520-5 |
| title | Normal prices, technical change and accumulation |
| title_auth | Normal prices, technical change and accumulation |
| title_exact_search | Normal prices, technical change and accumulation |
| title_full | Normal prices, technical change and accumulation Bertram Schefold |
| title_fullStr | Normal prices, technical change and accumulation Bertram Schefold |
| title_full_unstemmed | Normal prices, technical change and accumulation Bertram Schefold |
| title_short | Normal prices, technical change and accumulation |
| title_sort | normal prices technical change and accumulation |
| topic | Klassische Nationalökonomie (DE-588)4128353-3 gnd Technischer Fortschritt (DE-588)4059252-2 gnd Neoklassische Theorie (DE-588)4115360-1 gnd Keynessche Theorie (DE-588)4030426-7 gnd Kapitaltheorie (DE-588)4130460-3 gnd Produktionstheorie (DE-588)4121520-5 gnd |
| topic_facet | Klassische Nationalökonomie Technischer Fortschritt Neoklassische Theorie Keynessche Theorie Kapitaltheorie Produktionstheorie |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=007648784&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
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