Value Distribution and Capital

Value  Distribution and Capital

This book explores some of the most important themes in neo-Ricardian economics.

Author: Gary Mongiovi

Publisher: Routledge

ISBN: 9781134765072

Category: Business & Economics

Page: 352

View: 708

This book explores some of the most important themes in neo-Ricardian economics. It explores the many contributions of Pierangelo Garengnani to modern economics, including his work in capital theory, the theory of effective demand and stability analysis. Contributors include Paul Samuelson, John Eatwell, Murray Milgate, Edward Nell, Alessandro Roncaglia and Ian Steedman.
Categories: Business & Economics

Increasing Shareholder Value

Increasing Shareholder Value

Increasing Shareholder Value: Distribution Policy, A Corporate Finance Challenge is concerned with how the corporation should reward its shareholders after the incomes are earned.

Author: Harold Bierman Jr.

Publisher: Springer Science & Business Media

ISBN: 9781461515050

Category: Business & Economics

Page: 151

View: 455

Corporations earn incomes and amass wealth. There are many books offering advice how to increase the profitability of corporations by achieving excellence in operations and choosing the correct strategic path. Increasing Shareholder Value: Distribution Policy, A Corporate Finance Challenge is concerned with how the corporation should reward its shareholders after the incomes are earned. Investment decisions, capital structure, and dividend policy must be coordinated so that the well being of the firm's stockholders is considered in the planning process. The corporate planners should realize that the individual investors are also making plans, and the corporation can assist this planning process by making its own financial plans and strategies well known.
Categories: Business & Economics

Sraffa and the Reconstruction of Economic Theory Volume One

Sraffa and the Reconstruction of Economic Theory  Volume One

This book accounts for the work done around the two central aspects of Piero Sraffa's contribution to economic analysis, namely the criticism of the neoclassical theory of value and distribution and the reconstruction of economic theory ...

Author: E. Levrero

Publisher: Springer

ISBN: 9781137316837

Category: Business & Economics

Page: 336

View: 927

This book accounts for the work done around the two central aspects of Piero Sraffa's contribution to economic analysis, namely the criticism of the neoclassical theory of value and distribution and the reconstruction of economic theory along the lines of the Classical approach.
Categories: Business & Economics

Value Distribution and Capital

Value  Distribution and Capital

38 This will notbetrueforthe normal value ofthe existing capitalstock only if relative prices donot change with distribution¦the strict labour theory of value case¦orif the numéraireis a composite commodity with the same composition as ...

Author: Gary Mongiovi

Publisher: Routledge

ISBN: 9781134765065

Category: Business & Economics

Page: 352

View: 365

This book explores some of the most important themes in neo-Ricardian economics. It explores the many contributions of Pierangelo Garengnani to modern economics, including his work in capital theory, the theory of effective demand and stability analysis. Contributors include Paul Samuelson, John Eatwell, Murray Milgate, Edward Nell, Alessandro Roncaglia and Ian Steedman.
Categories: Business & Economics

Capital Theory and Political Economy

Capital Theory and Political Economy

This book summarizes the debates and issues around the theory of capital and brings to the fore the more recent developments.

Author: Lefteris Tsoulfidis

Publisher: Routledge

ISBN: 9781351239417

Category: Business & Economics

Page: 242

View: 558

In recent years, there have been a number of new developments in what came to be known as the "Capital Theory Debates". The debates took place mainly during the 1960s as a result of Piero Sraffa's critique of the neoclassical theory according to which the prices of factors of production directly depend on their relative scarcities. Sraffa showed that when income distribution changes, there are many complexities developed within the economic system impacting on prices in ways which are not possible to predict. These debates were revisited in the 1980s and again more recently, along with a parallel literature that has developed among neoclassical economists and has also looked at the impact of shocks on an economy. This book summarizes the debates and issues around the theory of capital and brings to the fore the more recent developments. It also pinpoints the similarities and differences between the various approaches and critically evaluates them in light of available empirical evidence. The focus of the book is on the price trajectories induced by changes in income distribution and the resulting shape of the wage rates of profit curves and frontier. These issues are central to areas such as microeconomics, international trade, growth, technological change and macro stability analysis. Each chapter starts with the theoretical issues involved, followed by their formalization and subsequently with their operationalization. More specifically, the variables of the classical theory of value and distribution are rigorously defined and quantified using actual input–output data from a number of major economies, but mainly from the USA, over long stretches of time. The empirical results are not only consistent with the anticipations of the theory but also further inform and therefore strengthen its predictive content raising new significant questions.
Categories: Business & Economics

Spectral Theory of Value and Actual Economies

Spectral Theory of Value and Actual Economies

This book develops a unified treatment of the income distribution capital value problems with respect to actual economies, and then gradually turns to the issues of effective demand and capitalist accumulation fluctuations from both ...

Author: Theodore Mariolis

Publisher: Springer Nature

ISBN: 9789813362604

Category:

Page:

View: 821

Categories:

Ricardo and the Theory of Value Distribution and Growth

Ricardo and the Theory of Value Distribution and Growth

The book presents a rigorous reconstruction of Ricardo's contribution to economic theory and a unifying interpretation of the key issues of Ricardo's research.

Author: Giovanni A. Caravale

Publisher: Routledge

ISBN: 9781135033378

Category: Business & Economics

Page: 256

View: 212

The book presents a rigorous reconstruction of Ricardo's contribution to economic theory and a unifying interpretation of the key issues of Ricardo's research. Part One deals primarily with the problems of value and distribution Part Two deals specifically with the issues of distribution and growth. * Contemporary economic literature in the fields of value, distribution and growth is witnessing a renewed interest in the approach of the classical school, notably in the work of David Ricardo.
Categories: Business & Economics

Fixed Capital in the Ricardian Theory of Value and Distribution

Fixed Capital in the Ricardian Theory of Value and Distribution

This paper examines the determination of exchange values, income distribution, output and population in a Ricardian stationary state with fixed capital under less restrictive assumptions than previous studies.

Author: Robert William Dimand

Publisher:

ISBN: OCLC:1028769208

Category: Economics

Page: 18

View: 418

This paper examines the determination of exchange values, income distribution, output and population in a Ricardian stationary state with fixed capital under less restrictive assumptions than previous studies. A fully determined and internally consistent model is derived with differing capital/labour ratios between sectors, with emphasis on showing that the assumptions made are drawn from Ricardo's writings. The model is extended to include gold and foreign trade.
Categories: Economics

Capital Theory and the Distribution of Income

Capital Theory and the Distribution of Income

The book first takes a look at production without capital, equilibrium, prices, and time, and semi-stationary growth, as well as the existence of constant-rate-of-interest price systems.

Author: C. J. Bliss

Publisher: Elsevier

ISBN: 9781483275277

Category: Business & Economics

Page: 392

View: 490

Advanced Textbooks in Economics, Volume 4: Capital Theory and the Distribution of Income focuses on the interconnection of capital theory and the distribution of income, including marginal products, capital, interest rates, and price systems. The book first takes a look at production without capital, equilibrium, prices, and time, and semi-stationary growth, as well as the existence of constant-rate-of-interest price systems. The manuscript then discusses marginal products and capital and the Cambridge model. The text examines the aggregation of miscellaneous objects, production function, linear production model, and efficiency, production prices, and rates of return, as well as prices and efficiency for infinite developments. The manuscript also ponders on investment, structure of interest rates, and disputations. Discussions focus on sets and convex sets, concave functions, and linear and non-linear programming. The publication is a dependable source of data for economists and researchers interested in capital theory and the distribution of income.
Categories: Business & Economics

The Theory of Value and Distribution in Economics

The Theory of Value and Distribution in Economics

This new volume explores two alternative economic theories – the classical theory and the marginalist or neoclassical theory- through a discussion between two eminent economists, Pierangelo Garegnani and Paul Samuelson.

Author: Pierangelo Garegnani

Publisher: Routledge

ISBN: 9780415519595

Category: Business & Economics

Page: 144

View: 801

This new volume explores two alternative economic theories – the classical theory and the marginalist or neoclassical theory- through a discussion between two eminent economists, Pierangelo Garegnani and Paul Samuelson. The key themes of the volume are the difference in approaches to the explanation of the distribution of income and relative prices, and therefore different approaches to all other economic problems, in particular capital accumulation and economic growth. The book discusses whether there is a 'classical' approach to the theory of value and distribution at the core of economic theory that is fundamentally different from the later marginalist or neoclassical theory. In the volume, the late Pierangelo Garegnani argues for the validity of Piero Sraffa's position on this issue, whilst the late noble laureate Paul Samuelson vehemently contests it. At a time of economic crisis, the future of the discipline is far from certain, and so it is extremely important to bring these debates back into the light, by reproducing them together for the first time. A comprehensive introduction by Heinz Kurz sets the debate in this context, and provides crucial background to the arguments.
Categories: Business & Economics

Essays on Value and Distribution

Essays on Value and Distribution

Author: Nicholas Kaldor

Publisher: New York : Holmes & Meier Publishers

ISBN: STANFORD:36105039366468

Category: Business & Economics

Page: 238

View: 282

Categories: Business & Economics

Value Capital and Rent

Value  Capital and Rent

This book, originally published in German in 1893 and in English in 1954 brought time into the previously timeless theory of value and income distribution.

Author: Knut Wicksell

Publisher: Routledge

ISBN: 9781315438474

Category: Business & Economics

Page: 178

View: 174

Knut Wicksell is acknowledged to be the precursor and prophet of modern macroeconomic theory and he provided some of its chief elements a generation before their power and significance were properly recognized. This book, originally published in German in 1893 and in English in 1954 brought time into the previously timeless theory of value and income distribution. The theory of the real interest rate, which he developed in Value, Capital and Rent became a central and essential element when he began to explain what determines the general level of money prices and how the changes of this level come about.
Categories: Business & Economics

The Culmination of Capital

The Culmination of Capital

In this collection, four philosophers and four economists consider the Third Volume of Marx's Capital.

Author: M. Campbell

Publisher: Springer

ISBN: 9780230597099

Category: Business & Economics

Page: 282

View: 299

In this collection, four philosophers and four economists consider the Third Volume of Marx's Capital. The essays take up each of the major themes of Volume III - competition, for formation and development of the general rate of profit, the credit system and finance capital, rent, the Trinity formula and the concept of class - and consider them in the light of the two previous volumes. The authors share a focus on the concept of social form in Marx's work and on the method of his argument. The collection is intended both for specialists in Marxian theory and for students of the history of economic thought and of methodology.
Categories: Business & Economics

Henry C Carey and American Economic Development

Henry C  Carey and American Economic Development

The development of economic thought (ET) of the mid-19th cent. is essentially a history of classical English political economy.

Author: Rodney Morrison

Publisher: American Philosophical Society

ISBN: 1422374475

Category:

Page: 91

View: 736

The development of economic thought (ET) of the mid-19th cent. is essentially a history of classical English political economy. The tenets of this school were communicated to the U.S., where the writings of Smith, Malthus, Mill, & Ricardo were adopted by early Amer. political economists. But there was also a strain of political economy in the U.S. at that time that opposed the adoption of the philosophy of classical political economy. This was the nationalistically-oriented Amer. school of ET, & the foremost member of this movement was Henry C. Carey. Contents: Political Economy in 19th-cent. America; A New Methodology & a Theory of Value; Distribution: Labor, Capital, & Land; Institutional Framework; & A Theory of Trade; A Theory of Econ. Develop.
Categories:

The Distribution of Wealth

The Distribution of Wealth

The question assumes, of course, that industry shall go on, and that, notwithstanding a paralysis of the forces of progress, wealth shall continue to be created under the influence of a perfectly unobstructed competition. -from the Preface ...

Author: John Bates Clark

Publisher: Cosimo, Inc.

ISBN: 9781596052529

Category: Business & Economics

Page: 476

View: 887

What would be the rate of wages, if labor and capital were to remain fixed in quantity, if improvements in the mode of production were to stop, if the consolidating of capital were to cease and if the wants of consumers were never to alter? The question assumes, of course, that industry shall go on, and that, notwithstanding a paralysis of the forces of progress, wealth shall continue to be created under the influence of a perfectly unobstructed competition. -from the Preface John Bates Clark was the first American economist with an international reputation-this revolutionary 1899 work is what brought him that distinction. In clear, lucid language that makes his economic philosophy so plain we take it for granted today, Clark lays out his Marginal Productivity Theory of Distribution, a rebuttal to Marx and an apologetic for capitalism. Insisting that in a competitive market economy, all work is fully and fairly recompensed and all labor and capital are, in a very real sense, equal components, Clark shattered then widely held theories of economics with his groundbreaking thesis. And his work continues to influence the global financial situation today. American economist JOHN BATES CLARK (1847-1938), who also wrote the significant The Philosophy of Wealth (1885), was professor of political economy at Columbia University and one of the founders of the American Economic Association. The prestigious John Bates Clark Medal for economic thought is named for him.
Categories: Business & Economics

Marx s Critique of Political Economy Volume Two

Marx s Critique of Political Economy Volume Two

Volume Two covers the years 1861-1863, when Marx consolidated and refined the arguments of his critique of political economy in his relatively neglected manuscripts Theories of Surplus Value. * Special attention is paid to the nature, scope ...

Author: Allen Oakley

Publisher: Routledge

ISBN: 9781136509742

Category: Business & Economics

Page: 360

View: 362

Volume Two covers the years 1861-1863, when Marx consolidated and refined the arguments of his critique of political economy in his relatively neglected manuscripts Theories of Surplus Value. * Special attention is paid to the nature, scope and limitations of Marx's critique and to the critique of Ricardo's Principles.
Categories: Business & Economics

Themes in Value and Distribution

Themes in Value and Distribution

The essays in this volume, first published in 1989, seek to re-examine an important area of economic theory: value and distribution.

Author: Krishna Bharadwaj

Publisher: Routledge

ISBN: 9781315385846

Category: Business & Economics

Page: 350

View: 545

The essays in this volume, first published in 1989, seek to re-examine an important area of economic theory: value and distribution. In a sustained and analytical critique, two principle methodological approaches are compared and distinguished: the Classical or ‘surplus-based’ theories and the demand-and-supply-based equilibrium (DSE) theories. Although the essays are primarily concerned with value and distribution, the critique necessarily extends to the theory of output and employment, and in general, to the theory of trade and accumulation. The book will be an invaluable reader for students of economic thought, capital theory and Marxian political economy.
Categories: Business & Economics

The Evolution of Economic Theory

The Evolution of Economic Theory

This book consists of ten papers by distinguished economists from Europe, the United States and Japan.

Author: Volker Caspari

Publisher: Routledge

ISBN: 9781136821318

Category: Business & Economics

Page: 160

View: 492

Bertram Schefold is recognized internationally as an outstanding economist. He has made major contributions to the development of economic theory and particularly to economic thought. His contributions to economic theory include his work on Sraffian economics and its implications for the theory of value and distribution, capital theory, growth and technical progress. This book consists of ten papers by distinguished economists from Europe, the United States and Japan. The papers cover a range of topics chosen according to Bertram Schefolds main fields of research, from Wicksell’s principle of just taxation to Sraffa and the Universal Basic Income to Marx’s Theory of Value. Covering Schefold's main areas of academic interest, this is an important and comprehensive volume which is a fitting tribute to one of the foremost economic thinkers of our age.
Categories: Business & Economics

Theories of Value from Adam Smith to Piero Sraffa

Theories of Value from Adam Smith to Piero Sraffa

This book presents a comprehensive account of more than 200 years of controversy on the classical theories of value and distribution.

Author: Ajit Sinha

Publisher: Taylor & Francis

ISBN: 9780429807718

Category: Business & Economics

Page: 372

View: 883

This book presents a comprehensive account of more than 200 years of controversy on the classical theories of value and distribution. The author focuses on four, perhaps most critical classics — Adam Smith’s Wealth of Nations, David Ricardo’s Principles of Political Economy, Karl Marx’s Capital and Piero Sraffa’s Production of Commodities by Means of Commodities. The book highlights several significant differences in the widely celebrated theories of the four authors as it searches for the ‘classical standpoint’ that separates them from the ‘moderns’. It also challenges canonical interpretations to analyse their flaws and weaknesses, in addition to the already obvious strengths, and critically engages with the major alternative interpretations and criticisms of the theories. With a new Afterword that follows up on the debates and developments since the first edition, this book will appeal to scholars and academics of economic theory and philosophy, as well as to the general reader.
Categories: Business & Economics