Value and Distribution An Historical, Critical, and Constructive Study in Economic Theory Adapted for Advanced and PostGraduate Work Classic Reprint
Charles William Macfarlane
ISBN 10: 1330405005 ISBN 13: 9781330405000
Published by Forgotten Books, 2019
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This book initiates a new approach to deriving the principles of distribution from the phenomena of value and price. Some of this work has been incorporated into the publications of the Austrian school of economists, yet, much of it is scattered through journals. Seeking to gather these works into one publication, the author also presents original concepts that modify the hitherto accepted view of value and distribution. The book argues that the value of a good is not determined by the amount of socially necessary labor contained in it but rather by its marginal utility and the marginal disutility of its production. There is a shift from earlier ideas in regard to interest, with the author positing that it is not a return for the use of wealth but is instead the result of a discrepancy between the rate at which people prefer present goods to future goods and the rate at which goods can be produced. Ultimately, this book demonstrates the possibility of a reintegration of theory and phenomena in economic analysis and the promise of a more coherent explanation of the forces that determine economic behavior.
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Title: Value and Distribution An Historical, ...
Publisher: Forgotten Books
Publication Date: 2019
Binding: PAP
Condition: New
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Value and Distribution : An Historical, Critical, and Constructive Study in Economic Theory; Adapted for Advanced and Post-Graduate Work (Classic Reprint)
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Value and Distribution: An Historical, Critical (Classic Reprint)
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Paperback. Condition: New. Print on Demand. This book initiates a new approach to deriving the principles of distribution from the phenomena of value and price. Some of this work has been incorporated into the publications of the Austrian school of economists, yet, much of it is scattered through journals. Seeking to gather these works into one publication, the author also presents original concepts that modify the hitherto accepted view of value and distribution. The book argues that the value of a good is not determined by the amount of socially necessary labor contained in it but rather by its marginal utility and the marginal disutility of its production. There is a shift from earlier ideas in regard to interest, with the author positing that it is not a return for the use of wealth but is instead the result of a discrepancy between the rate at which people prefer present goods to future goods and the rate at which goods can be produced. Ultimately, this book demonstrates the possibility of a reintegration of theory and phenomena in economic analysis and the promise of a more coherent explanation of the forces that determine economic behavior. This book is a reproduction of an important historical work, digitally reconstructed using state-of-the-art technology to preserve the original format. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in the book. print-on-demand item. Seller Inventory # 9781330405000_0
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Value and Distribution An Historical, Critical, and Constructive Study in Economic Theory Adapted for Advanced and PostGraduate Work Classic Reprint
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PAP. Condition: New. New Book. Shipped from UK. Established seller since 2000. Seller Inventory # LW-9781330405000
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