Full Industry Equilibrium: A Theory of the Industrial Long Run

ISBN-13: 9781107483835 / Angielski / Miękka / 2020 / 231 str.

Arrigo Opocher; Ian Steedman

Opis

Written for academic researchers and graduate students, this ambitious and highly original book shows how work from two disparate traditions, the marginalist long-run theory of the firm and Sraffian theory, can be used to build a framework that sheds new light on the microeconomics of industry equilibrium.

Recenzje

'A new wave of debates of high theory related to long-period industry equilibrium analysis that takes seriously the inter-industry connections is coming. The trigger is this fascinating book by Arrigo Opocher and Ian Steedman. The authors have a deep knowledge of the debates in the 1960s and 1970s, but in this book they go far beyond. It will be an essential reading for all microeconomists and industrial economists in the decades to come.' Neri Salvadori, University of Pisa

Spis treści

Preface; Introduction; 1. Taking seriously the tendency to zero net profits; 2. An isolated industry; 3. Multiproduct firms; 4. Interdependent industries; 5. Industry-level input use. Some aftershocks from capital theory; 6. The 'autonomous' components of input prices; 7. The effects of taxation; 8. Productivity increase; 9. Full industry equilibrium in retrospect; 10. Conclusion; References; Index.