Steady State Capital Theory

ISBN-13: 9783540055822 / Angielski / Miękka / 1971 / 104 str.

C. C. V. Weizscker; C. C. V. Weizsacker

Opis

The following lecture notes were written shortly after I gave a course on capital theory in the winter-semester 1970/71 at the Univer sity of Heidelberg. While the general line of the argument is similar to the one in the course, I have modified and added a large number' of specific points in the process of writing the English version. I should like to emphasize the narrow limitations of the material covered in these notes. I have completely concentrated on steady states of stationary and exponentially growing economies, even up to the point where there is the danger of misleading the reader1 I have done this for several reasons. Other activities have not left me with a sufficient amount of time to be able to find the unifying principle of analysis and mode of presentation for the dynamic aspects of capi tal theory which would have made it worthwhile to add a sizeable book to the large body of literature in this field. On the other hand over the last couple of years I have become increasingly aware that some of the results in steady state capital theory (which could be derived without too much mathematical effort) are of relevance in present day dis cussions about the political role of economic theory and the relative merits of orthodox and radical economics. Also these results seemed not to be known by' mO$ of the participants in these discussions."

Spis treści

Preface.- I Capital Theory without Capital.- 1 The Static Input-Output Model without Substitution.- 2 The Static Input-Output Model with Substitution.- 3 The Static Input-Output Model with more than One Nonproducible Factor of Production.- II Circulating Capital.- 1 A One Sector Model.- 2 Many Goods, no Substitution.- 3 Dated Labour Inputs and the Theory of Value and Exploitation.- 4 Dated Labour Inputs and the Period of Production.- 5 Böhm-Bawerks Law of Increased Productivity of Increased Roundaboutness. The Point-Input-Point Output Model.- 6 The Period of Production in more General Models.- 7 Substitution. Switching of Techniques.- 8 The Dynamic Nonsubstitution Theorem. Generalization of the Elasticity of Substitution.- 9 Wicksell Effect. Marginal Productivity of Capital.- III Fixed Capital.- 1 Machines.- 2 The General Case of Joint Production and a General Nonsubstitution Theorem.- IV General Equilibrium of Steady States.- References to the Literature.