Skip to main content
Article thumbnail
Location of Repository

Capital and credit: a new formulation of general equilibrium theory

By Michio Morishima

Abstract

Contemporary general equilibrium theory is characteristically short-run, separated from monetary aspects of the economy, and as such does not deal with long-run problems such as capital accumulation, innovation, and the historical movement of the economy. These phenomena are discussed by growth theory, which being short term, cannot deal with the fundamental problem of how the production function is derived. This book provides a much-needed synthesis of growth and monetary theory, drawing on the work of Schumpeter, Keynes and the prewar neoclassical economists to formulate a capital-theoretic general equilibrium theory

Topics: HB Economic Theory, QA Mathematics
Publisher: Cambridge University Press
Year: 1994
OAI identifier: oai:eprints.lse.ac.uk:39625
Provided by: LSE Research Online
Download PDF:
Sorry, we are unable to provide the full text but you may find it at the following location(s):
  • http://www.cambridge.org/ (external link)
  • http://eprints.lse.ac.uk/39625... (external link)
  • Suggested articles


    To submit an update or takedown request for this paper, please submit an Update/Correction/Removal Request.