• Sign In / Register
  • Help
  • Basket0
The Renewal of Classical General Equilibrium Theory and Complete Input-Output System Models (Hardback)
  • The Renewal of Classical General Equilibrium Theory and Complete Input-Output System Models (Hardback)
zoom

The Renewal of Classical General Equilibrium Theory and Complete Input-Output System Models (Hardback)

(author)
£65.00
Hardback 192 Pages / Published: 28/06/1994
  • Not available

This product is currently unavailable.

  • This item has been added to your basket
In this book the reader will find not only criticisms of conventional economic theory (general equilibrium (GE) and input-output (I-O)), but also suggestions for how to improve and advance it. The author shows that the Classics' - Smith, Marx and Walras - general equilibrium theories are characterized by a common approach, which has been misunderstood and misinterpreted. The assumptions of modern GE Theory were increased by 'Walras Law' (as formulated by his followers), which claims that the prices of factors (commodities) are equal to zero when there is excess supply. Hence, when compared to reality it is irrelevant. Leontief's attempt to bridge the theoretical (Walrasian) and empirical (Marxian) input-output versions was also incomplete. The author puts forward two new versions of GE Theory and I-O: 1) theoretical, which assumes price discrimination for mixed competition economy and the existence of unemployed factors with significantly positive price; and 2) empirical, which establishes a reciprocal connection between factors and categories of final uses. The suggested approach is demonstrated by practical application.

Publisher: Taylor & Francis Ltd
ISBN: 9781856286770
Number of pages: 192
Weight: 382 g
Dimensions: 1 x 1 mm

You may also be interested in...

Game Theory: A Very Short Introduction
Added to basket
Wealth of Nations
Added to basket
£3.99
Paperback
Capitalism and Freedom
Added to basket
The Wealth of Nations
Added to basket
The Theory of the Leisure Class
Added to basket
The Worldly Philosophers
Added to basket
Conspicuous Consumption
Added to basket
The Wealth of Nations
Added to basket
Capital
Added to basket
£3.99
Paperback
The Affluent Society
Added to basket
30-Second Economics
Added to basket

Reviews

Please sign in to write a review

Your review has been submitted successfully.