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Item Details
| Title:
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CAPITAL AND CREDIT
A NEW FORMULATION OF GENERAL EQUILIBRIUM THEORY |
| By: |
Michio Morishima |
| Format: |
Hardback |
| List price:
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£100.00 |
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We currently do not stock this item, please contact the publisher directly for
further information.
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| ISBN 10: |
0521418402 |
| ISBN 13: |
9780521418409 |
| Publisher: |
CAMBRIDGE UNIVERSITY PRESS |
| Pub. date: |
8 October, 1992 |
| Pages: |
226 |
| Description: |
A much-needed synthesis of growth theory and monetary theory, which formulates a capital-theoretic general equilibrium theory. |
| 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 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. |
| Illustrations: |
1d. |
| Publication: |
UK |
| Imprint: |
Cambridge University Press |
| Returns: |
Returnable |
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