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Capital and Credit

Capital and Credit

Hardcover

Economics

ISBN10: 0521418402
ISBN13: 9780521418409
Publisher: Cambridge
Published: Oct 8 1992
Pages: 226
Weight: 1.11
Height: 0.63 Width: 6.00 Depth: 9.00
Language: English
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 being short term, cannot deal with the fundamental problem of how the production function is derived. This book provides a much-needed synthesis of growth and monetary theory, drawing on the work of Schumpeter, Keynes and the prewar neoclassical economists to formulate a capital-theoretic general equilibrium theory.

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