Download E-books Capital and Credit: A New Formulation of General Equilibrium Theory PDF

By Michio Morishima

Modern common equilibrium thought is routinely short-run, separated from financial elements of the financial system, and as such doesn't take care of long-run difficulties corresponding to capital accumulation, innovation, and the ancient circulation of the financial system. those phenomena are mentioned via progress concept, which being brief time period, can't care for the elemental challenge of the way the creation functionality is derived. This e-book offers a much-needed synthesis of development and financial conception, drawing at the paintings of Schumpeter, Keynes and the prewar neoclassical economists to formulate a capital-theoretic normal equilibrium idea.

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