Format:
1 online resource (249 pages)
Edition:
1st ed.
ISBN:
9780415313254
,
9781135033385
Content:
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
Note:
Front Cover -- Ricardo and the Theory of Value Distribution and Growth -- Copyright Page -- Contents -- Preface and acknowledgments -- Part I: Value and distribution -- 1. Scope and method of the work -- 1.1 The renewed interest in Ricardo's theory -- 1.2 Scope of the work -- 1.3 The concept of natural equilibrium in the Ricardian context -- 2. Diminishing returns and the rate of profit in Ricardo's analysis -- 2.1 Ricardo's theoretical analysis and the problems of his time -- 2.2 Changes in real and money wages in Ricardo: the distributive antagonism as a dynamic problem -- 2.3 Effects on profits of changes in wages: two possible interpretations -- 2.4 A theoretical framework for the analysis of price determination: a necessary prelude -- 2.5 The effects of a change in wages on the aggregate amount and on the share of profits: the first interpretation -- 2.6 The relation between money wages and the rate of profit: the second interpretation -- 2.7 Wages and prices: Ricardo's criticism of Smith's theory -- 2.8 The relation between the labour input in the production of corn and the rate of profit -- 2.9 The rate of profit in the Ricardian model -- 2.10 Technological improvements and the declining rate of profit -- Appendix Properties of the Ricardian price model -- Existence and uniqueness of the solution -- Inverse relation between r and n1 -- Inverse relation between r and w -- Effects on prices of a change in w -- 3. Sraffa's standard commodity and Ricardo's theory of value and distribution -- 3.1 Ricardo's search for an invariable standard of value -- 3.2 The requisites of the invariable measure of value -- 3.3 The invariable measure of value in the interpretation of Sraffa's 'Introduction' -- 3.4 Sraffa's standard commodity and Ricardo's invariable measure of value -- 3.5 The standard system
,
3.6 The intrinsic properties of the standard commodity -- 3. 7 The properties of the standard commodity qua numeraire -- 3.8 The standard commodity and the analysis of price changes -- 3.9 The notion of in variance per se of the standard commodity -- 3.10 The existence of the standard commodity in the Ricardian model with ftxed capital -- 3.11 The standard commodity and the requisites of Ricardo's invariable measure of value -- Appendix Changes in distribution and relative prices -- The case of a generic numeraire -- The case of the standard commodity -- A comparison with the results of the Ricardian price model -- Part II: Growth and distribution -- 4. Pasinetti's formulation of the Ricardian system -- 4.1 Introductory remarks -- 4.2 The concept of 'point natural equilibrium' used by Pasinetti -- 4.3 The hypotheses of the model -- 4.4 Distribution of output and Say's law -- 4.5 Natural and market equilibrium -- 4.6 The behaviour of distributive shares in the process of capital accumulation -- 5. A one-sector Ricardian model -- 5.1 Introductory remarks -- 5.2 The equilibrium model -- 5.3 The relation between the rates of growth of income and capital -- 5.4 Full employment as a necessary condition of equilibrium growth -- 5.5 Equilibrium growth with the production function Nαt -- 5.6 Disequilibrium mechanisms -- 5.7 The wages-population interaction mechanism: the wages-fund theory -- 5.8 Disequilibrium dynamics on the hypothesis of the wages-fund theory -- 5.9 The possibility of unemployment in the Ricardian theory -- 5.10 The wage-population interaction mechanism: the bargaining power hypothesis -- 5.11 Disequilibrium dynamics with the bargaining-power hypothesis -- 6. A two-sector Ricardian model -- 6.1 General remarks -- 6.2 The equilibrium model -- 6.3 The growth rate of capital -- 6.4 The growth rate of production in value terms
,
6.5 Employment structure, distributive shares and technology -- 6.6 The growth rate of output at constant prices -- 6.7 Equilibrium growth with full employment -- 6.8 Final considerations on the equilibrium dynamics of thetwo-sector Ricardian model -- 6.9 Equilibrium growth with X1t =Nα1t -- 6.10 Disequilibrium mechanisms -- 6.11 An analysis of sectoral employment disequilibria -- 6.12 The disequilibrium model -- 6.13 Concluding remarks on disequilibrium paths -- Appendix The natural equilibrium of a three-sector Ricardian model -- Introductory remarks -- The model -- The structure of the model -- The natural equilibrium with different capital-labour ratios -- The natural equilibrium with a uniform capital-labour ratio -- 7. A generalization of the Ricardian two-sector model: problems oftraverse -- 7.1 Preliminary remarks -- 7.2 Possible generalizations of the Ricardian model -- 7.3 Positive saving by the workers and rentiers -- 7.4 Positive consumption by capitalists: the role of capitalists in the stationary state -- 7.5 The Ricardian model with positive consumption bycapitalists -- 7.6 Natural equilibrium dynamics: structural and distributive aspects -- 7.7 Natural equilibrium dynamics: the growth rates -- 7.8 Disequilibrium dynamics: traverse paths originating inchanges in Sπ -- 7.9 The traverse model -- 7.10 Analysis of traverse paths -- 7.11 Conclusions: an overview of the main results of the Ricardian dynamic model -- Notes -- Bibliography -- Author index -- Subject index
Additional Edition:
Print version Caravale, Giovanni A. Ricardo and the Theory of Value Distribution and Growth Oxford : Taylor & Francis Group,c2003 ISBN 9780415313254
Language:
English
Keywords:
Electronic books
URL:
FULL
((OIS Credentials Required))
Bookmarklink
