Capital and Credit - A New Formulation of General Equilibrium Theory (Hardcover, New)

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.

General

Imprint:	Cambridge UniversityPress
Country of origin:	United Kingdom
Release date:	October 1992
First published:	1992
Authors:	Michio Morishima
Dimensions:	229 x 152 x 16mm (L x W x T)
Format:	Hardcover
Pages:	226
Edition:	New
ISBN-13:	978-0-521-41840-9
Categories:	Books > Business & Economics > Economics > Economic theory & philosophy Books > Business & Economics > Economics > Macroeconomics > General
LSN:	0-521-41840-2
Barcode:	9780521418409

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