Capital Theory and the Distribution of IncomeAdvanced 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. |
Contents
| 13 | |
AGGREGATION | 141 |
EFFICIENCY | 197 |
INVESTMENT AND THE SHORT RUN | 299 |
CONCLUSION | 343 |
Chapter 15
Disputations | 345 |
Mathematical appendix | 353 |
| 367 | |
| 373 | |
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Common terms and phrases
aggregation analysis argument assume assumption atemporal economy capital accumulation capital stock capital vector chain-index method comparative statics component concave function concerned consider constant consumption convex convex combination convex set cost defined definition demand denoted double switching equal equilibrium model example exists factor services feasible firm forward markets growth path Hence household implication income interest rates intertemporal equilibrium investment labour linear production model linear programme marginal concepts marginal product mathematical maximize neoclassical non-negative non-produced inputs numeraire obtain output overture own-rates of interest particular present value price system price vector problem product of labour production function production prices production set productive activities quantity rate of interest rate of return relative prices result returns to scale satisfied saving semi-stationary growth sequence solution Suppose temporary equilibrium theorem theory of capital tion unique wage rate week yield series zero