Economic Heresies Some Old-Fashioned Questions in Economic - download pdf or read online

By Joan Robinson

ISBN-10: 0333128834

ISBN-13: 9780333128831

ISBN-10: 1349815764

ISBN-13: 9781349815760

Show description

Read Online or Download Economic Heresies Some Old-Fashioned Questions in Economic Theory PDF

Similar theory books

New PDF release: Governance Theory: A Cross-Disciplinary Approach

Confusion approximately governance abounds. Many lack appreciation of the way diversified traditions of proposal within the social sciences give a contribution to our figuring out. This booklet tackles those weaknesses head on and goals to supply a much broader imaginative and prescient of the world, reading 3 serious parts of perform: environmental, company and participatory governance.

New PDF release: Theory of Quantum Computation, Communication, and

This e-book constitutes the completely refereed post-workshop complaints of the 4th Workshop on thought of Quantum Computation, communique, and Cryptography, TQC 2009, held in Waterloo, Canada, in might 2009. the ten revised papers provided have been conscientiously chosen in the course of rounds of reviewing and development.

Read e-book online Madelung.Teoriya.Tverdogo.Tela PDF

The subsequent description is in Russian (transliterated), by way of an automatic English translation. We express regret for inaccuracies within the computer-generated English translation. Please be happy to touch us for a correct human English translation, which good be at liberty to arrange upon requestTrans.

Extra resources for Economic Heresies Some Old-Fashioned Questions in Economic Theory

Example text

8 In the famous passage 9 which anticipates Keynes, a slump occurs when confidence fails-investment declines, unemployment reduces the demand for consumer goods and so multiplies itself. Clearly it is the confidence of the entrepreneurs in future profits that has failed, not the desire of rentiers to add to their wealth. But if the rate of profit dominates the rate of interest and the entrepreneur dominates the rentier, there is nothing in the story to say what determines the "normal" rate oi profit.

8 On this view, the profit received by the capitalist is due to the contribution to output of his capital. Capital equipment contributes to output (along with education and training) by raising the productivity of labor; a command of finance permits a capitalist to provide equipment, employ labor, and receive profits. The neo-neoclassical revival of pre-Keynesian theory took over J. B. Clark's identification of capital as profit-earning finance 7 See, in particular, R. M. Solow, Capital Theory and the Rate of Return (Amsterdam: North Holland Publishing Company, 1963).

In a Pigovian stationary state, with a given rate of interest, we are to suppose that there are a number of different possible methods of producing a given rate of output; competition between profit-maximizing firms has led to capital being embodied in forms which yield a rate of profit equal to the rate of interest. On this basis we can construct a pseudo-production function showing all the possible points of equilibrium in an imagined "given state of technical knowledge" which is intended to illustrate the supposed effect of relative "factor prices" (the realwage rate and the rate of profit) on the choice of technique.

Download PDF sample

Economic Heresies Some Old-Fashioned Questions in Economic Theory by Joan Robinson


by David
4.2

Rated 4.53 of 5 – based on 6 votes