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Author: John Eatwell
Publisher: Springer
ISBN: 1349208612
Category : Business & Economics
Languages : en
Pages : 287
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Book Description
This is an excerpt from the 4-volume dictionary of economics, a reference book which aims to define the subject of economics today. 1300 subject entries in the complete work cover the broad themes of economic theory. This extract concentrates on the topic of capital theory.
Author: D C Hagued
Publisher: Springer
ISBN: 1349084522
Category : Business & Economics
Languages : en
Pages : 419
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Book Description
Author: Eugen von Böhm-Bawerk
Publisher: Jazzybee Verlag
ISBN:
Category : Business & Economics
Languages : en
Pages : 476
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Book Description
Von Boehm-Bawerk is one of the leading economists of the so-called Austrian school. With Karl Menger and others, he has contributed to the development of a theory of value which has received wide acceptance, and has been the cause of still wider discussion, in the economic world. This theory, as elaborated by Boehm von Bawerk, is based largely upon psychological principles. Its chief feature consists in a searching analysis of ‘subjective value.’ In his “Capital and Interest”, the author makes a brilliant and original study of these two subjects. “The Positive Theory of Capital” is the successor to the work mentioned above.
Author: Ludwig M. Lachmann
Publisher: Ludwig von Mises Institute
ISBN: 1610165276
Category : Capital
Languages : en
Pages : 148
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Book Description
Author: G. C. Harcourt
Publisher: Cambridge University Press
ISBN: 9780521082945
Category : Business & Economics
Languages : en
Pages : 292
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Book Description
Capital theory traditionally spans two major compartments of economic theory: the theory of production of both individual products and the total product, and the theory of the distribution of the aggregate product between the different classes of capitalist society. It has always been controversial, partly because the subject matter is difficult and partly because rival ideologies and value systems impinge directly on the subject matter. In the present book the various topics associated with the exchanges between the 'neo-Keynesians' and the 'neo-neoclassicals' are discussed and evaluated. The topics include the measurement of capital, the revival of interest in Irving Fisher's rate of return on investment, the double-switching debate, Sraffa's prelude to a critique of neoclassical theory, and the 'new' theories of the rate of profits in capitalist society.
Author: Peter Lewin
Publisher: Taylor & Francis
ISBN: 0429633181
Category : Business & Economics
Languages : en
Pages : 163
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Book Description
This book applies finance to the field of capital theory. While financial economics is a well-established field of study, the specific application of finance to capital theory remains unexplored. It is the first book to comprehensively study this financial application, which also includes modern financial tools such as Economic Value Added (EVA®). A financial application to the problem of the average period of production includes two discussions that unfold naturally from this application. The first one relates to the dual meaning of capital, one as a monetary fund and the other one as physical (capital) goods. The second concerns its implications for business-cycle theories. This second topic (1) provides a solid financial microeconomic foundation for business cycles and, also (2) makes it easy to compare different business-cycle theories across the average period of production dimension. By clarifying the obscure concept of average period of production, the authors make it easier to analyze the similarities with and differences from other business-cycle theories. By connecting finance with capital theory, they provide a new point of view and analysis of the long-standing problems in capital theory as well as other related topics such as the use of neoclassical production functions and theorizing about business cycles. Finally, they emphasize that the relevance of their application rests on both its policy implications and its contributions to contemporary economic theory.
Author: John Eatwell
Publisher: Springer
ISBN: 1349208612
Category : Business & Economics
Languages : en
Pages : 287
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Book Description
This is an excerpt from the 4-volume dictionary of economics, a reference book which aims to define the subject of economics today. 1300 subject entries in the complete work cover the broad themes of economic theory. This extract concentrates on the topic of capital theory.
Author: Lefteris Tsoulfidis
Publisher: Routledge
ISBN: 1351239406
Category : Business & Economics
Languages : en
Pages : 239
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Book Description
In recent years, there have been a number of new developments in what came to be known as the "Capital Theory Debates". The debates took place mainly during the 1960s as a result of Piero Sraffa's critique of the neoclassical theory according to which the prices of factors of production directly depend on their relative scarcities. Sraffa showed that when income distribution changes, there are many complexities developed within the economic system impacting on prices in ways which are not possible to predict. These debates were revisited in the 1980s and again more recently, along with a parallel literature that has developed among neoclassical economists and has also looked at the impact of shocks on an economy. This book summarizes the debates and issues around the theory of capital and brings to the fore the more recent developments. It also pinpoints the similarities and differences between the various approaches and critically evaluates them in light of available empirical evidence. The focus of the book is on the price trajectories induced by changes in income distribution and the resulting shape of the wage rates of profit curves and frontier. These issues are central to areas such as microeconomics, international trade, growth, technological change and macro stability analysis. Each chapter starts with the theoretical issues involved, followed by their formalization and subsequently with their operationalization. More specifically, the variables of the classical theory of value and distribution are rigorously defined and quantified using actual input–output data from a number of major economies, but mainly from the USA, over long stretches of time. The empirical results are not only consistent with the anticipations of the theory but also further inform and therefore strengthen its predictive content raising new significant questions.
Author: Gunter Stephan
Publisher: Springer Science & Business Media
ISBN: 3662030810
Category : Business & Economics
Languages : en
Pages : 290
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Book Description
Capital theory is a cornerstone of modern economics. Its ideas are fundamental for dynamic equilibrium theory and its concepts are applied in many branches of economics like game theory, resource and environmental economics, although this may not be recognized on a first glance. In this monograph, an approach is presented, which allows to derive important results of capital theory in a coherent and readily accessible framework. A special emphasis is given on infinite horizon and overlapping generations economics. Irreversibility of time, or the failure of the market system appear in a different light if an infinite horizon framework is applied. To bridge the gap between pure and applied economic theory, the structure of our theoretical approach is integrated in a computable general equilibrium model.
Author: Ramesh K. S. Rao
Publisher: World Scientific
ISBN: 9812569499
Category : Business & Economics
Languages : en
Pages : 105
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Book Description
The cost of capital concept has myriad applications in business decision-making. The standard methodology for deriving cost of capital estimates is based on the seminal Modigliani-Miller analyses. This book generalizes this framework to include non-debt tax shields (e.g., depreciation), interactions between the borrowing rate and tax shields, and default considerations. It develops several new results and shows how better cost of capital and marginal tax rate estimates can be generated. The book's unified cost of capital theory is discussed with comprehensive numerical examples and graphical illustrations.This book will be of interest to corporate managers, academics, investment bankers, governmental agencies, and private companies that generate cost of capital estimates for public consumption.
Author: Joseph W. Conard
Publisher: Univ of California Press
ISBN:
Category :
Languages : en
Pages : 406
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Book Description
