Research Catalog

Title

The theory of value, capital, and interest : a new approach / Branko Horvat.

Author

Horvat, Branko.

Publication

Aldershot, Hants, England ; Brookfield, Vt., USA : Edward Elgar, [1995], ©1995.

Items in the Library & Off-site

Details

Description

xiv, 281 pages : illustrations; 25 cm

Summary

• In The Theory of Value, Capital and Interest, Branko Horvat puts forward a new economic theory, relevant to real-world economics. This radical and innovative book deals with the economy as a system which includes producers, consumers and a social regulating agency, rather than simply as an aggregate of individuals.
• Beginning with an essay on economic methodology which analyses the underpinnings of neoclassical economics, the author presents a two-sector canonical model which is used to establish equilibrium prices and quantities in a stationary and growing economy. This thesis distinguishes two sources of growthexpansion of the labour force and technological progress - and also discusses criteria for investment.
• Later chapters extend Professor Horvat's model to include joint production and rent, and present a general case which allows for many consumer and producer goods. By introducing a new economic paradigm - and in so doing offering a solution to the long-standing labour theory of value controversy - this book makes a series of important innovations and will be welcomed as a major contribution by neo-Ricardians, Marxists, post-Keynesians and critical neoclassicals.

Subjects

• Capital
• Interest
• Labor theory of value

Bibliography (note)

• Includes bibliographical references (p. 268-275) and indexes.

Contents

Pt. I. Introduction. 1. Methodological considerations. 2. The model. 3. Stationary economy -- Pt. II. Changing Economy I: Growth or Decrease of Labour Force. 4. Two dynamic effects. 5. Quantity and price equations -- Pt. III. Changing Economy II: Technological Progress. 6. Once-and-for-all technological change. 7. Continuous unembodied technological progress. 8. Embodied technological progress. 9. Evaluation of investment projects -- Pt. IV. The Choice of Techniques. 10. Price-quantity duality. 11. Technological frontier -- Pt. V. Extensions. 12. Joint production. 13. Rent -- Pt. VI. Generalizations. 14. Many consumer goods. 15. Many capital goods. 16. The general case: many consumer and producer goods.

ISBN

1858980550

LCCN

94016372

OCLC

• 30398370
• ocm30398370

Owning Institutions

Columbia University Libraries