Capital and Credit: A New Formulation of General Equilibrium Theory - Image 1

£59.50

Cambridge University Press Capital and Credit: A New Formulation of General Equilibrium Theory

Name: Capital and Credit: A New Formulation of General Equilibrium Theory
Brand: Cambridge University Press
Price: 59.5 GBP
Availability: InStock

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Description

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.

Product Specifications

Brand: Cambridge University Press
Format: hardcover
ASIN: 0521418402
Category: Books > Subjects > Business, Finance & Law > Biographies & Histories > Business & Economic History
Domain: Amazon UK
Release Date: 08 October 1992
Listed Since: 16 December 2006

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Cambridge University Press Capital and Credit: A New Formulation of General Equilibrium Theory

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