A much-needed synthesis of growth theory and monetary theory, which formulates a capital-theoretic general equilibrium theory. Num Pages: 226 pages, 1d. BIC Classification: KCA; KCB. Category: (P) Professional & Vocational. Dimension: 234 x 156 x 16. Weight in Grams: 500. . 1992. hardcover. . . . .

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Bibliographic Details

Title: Capital and Credit: A New Formulation of General Equilibrium Theory
Publisher: Cambridge University Press
Publication Date: 1992
Language: English
ISBN 10: 0521418402
ISBN 13: 9780521418409
Binding: Hardcover
Condition: New

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Synopsis

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.

Book Description

Drawing on the work of Schumpeter, Keynes and the prewar neoclassical economists, Morishima provides a much-needed synthesis of growth and monetary theory to formulate a capital-theoretic general equilibrium theory.

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