Most neo-Ricardian studies on the "choice of technique" are based on a comparison of alternative technologies applicable to the same industrial branch. Some authors even recommend restrict analyses of the long-run technological changes to a single industry. In reality, innovations often require...

Most neo-Ricardian studies on the "choice of technique" are based on a comparison of alternative technologies applicable to the same industrial branch. Some authors even recommend restrict analyses of the long-run technological changes to a single industry. In reality, innovations often require...

The Inflation Reduction Act (IRA) is criticized for "derisking" private investment by increasing the gains to private firms. The derisking critique argues that the IRA insufficiently disciplines private firms; it does not utilize legal or financial penalties which would force firms to undertake...

The Inflation Reduction Act (IRA) is criticized for "derisking" private investment by increasing the gains to private firms. The derisking critique argues that the IRA insufficiently disciplines private firms; it does not utilize legal or financial penalties which would force firms to undertake...

This paper offers a retrospective view of the key pillar of Solow's neoclassical growth model, namely the aggregate production function. We review how this tool came to life and how it has survived until today, despite three criticisms that undermined its raison d'être. They are the Cambridge...

Purpose - In the early 1930s, Nicholas Kaldor could be classified as an Austrian economist. The author reconstructs the intertwined paths of Kaldor and Friedrich A. Hayek to disequilibrium economics through the theoretical deficiencies exposed by the Austrian theory of capital and its...

Review of economic fundamentals and invitation to dialogue between economic schools for a better understanding and management of economic cycles. It is based on the theory of capital and the economic cycles of the Austrian Economics, since it is one of the few that considers money non - neutral...

Review of economic fundamentals and invitation to dialogue between economic schools for a better understanding and management of economic cycles. It is based on the theory of capital and the economic cycles of the Austrian Economics, since it is one of the few that considers money non - neutral...

A complement of metaphors inherited from the classical era has held back progress in Austrian capital theory (ACT). In particular, the attachment to circulating capital as the paradigmatic capital good, largely motivated by the business cycle theory, has locked ACT into a nonoperational...

"What is money? What is capital? The Spectre of Capital tackles such fundamental questions at a deep philosophical level. It argues that the modern world is ruled by a 'spectre', the spectre of capital. This insight is rooted in an original combination of the ideas of Marx and Hegel. It presents...

The interrelationship between capitalization and profitability in banking sector of BRICS countries is studied with reference to existing five capital theories with the help of the ARDL and VECM/VAR models. These models are applied in the panel and individual settings on BRICS banking sector...

The paper deals with the continuities and discontinuities between some classical, Austrian and neo-Austrian authors with regard first to the theory of capital and then to the theory of entrepreneurship. Part I focuses on the elements of continuity between the classical and the Austrian theory of...

1. Introduction -- 2. Legal nature of the irregular money deposit contract -- 3. Essential differences between irregular deposit and loan. 4. The Theory of Capital -- 5. The Theory of the Business Cycle -- 6. Criticism of Monetarist and Keynesian Theories -- 7. Reform to the Banking System -- 8....

1. Presentation and Critique of the macroeconomic standard models -- 2. Goods side and money side -- 3. Time preference -- 4. Role of the interest rate -- 5. Roundaboutness -- 6. Synthesis of the parts into a conclusive single representation -- 7. Macroeconomic Policy Applications.

PART I: THE PH.D. DISSERTATION: A Problem in the Theory of Distribution from Ricardo to Wicksell -- PART II: CRITIQUE OF MARGINAL PRODUCTIVITY THEORIES: Heterogeneous Capital, the Production Function and the Theory of Distribution -- Switching of Technique -- On a Change in the Notion of...

Chapter 1. Introduction -- Chapter 2. Methodology and its Use in Economics -- Chapter 3. The Origins of Economic Theory -- Chapter 4. Adam Smith’s Wealth of Nations -- Chapter 5. David Ricardo’s Principles of Political Economy -- Chapter 6. Karl Marx’s Das Kapital -- Chapter 7. The...

Chapter 1: Introduction -- Chapter 2: Waiting as a Factor and Interest as Its Price -- Chapter 3: Capital Goods, Intermediate Goods, and Land -- Chapter 4: Advantages of the Recommended View of Waiting -- Chapter 5: Responses to the Interest Rate -- Chapter 6: Time Preference and the...

"This scholarly book conducts an extensive exploration into the central ideas of Karl Marx, focussing on the key concepts that have defined his thought and legacy. Bringing together a wealth of internationally renowned contributors, across different generations, Marx: Key Concepts analyses in...

Introductory lectures on capital theory often begin by analyzing the following problem: I have a tree which will be worth X(t) if cut down at time t. If the discount rate is r, when should the tree be cut down? What is the present value of such a tree? The answers to these questions are...

A novel parameterization of a two-good economic model, consumption good and capital good, enables straightforward resolution of various issues that have vexed the long Cambridge capital controversy, including the existence of single quantities for both capital quantity and capital value...

This paper uses Austrian capital theory to illustrate why empirical work can be elusive in typical Austrian themes. It explores the nature of the problem and different alternative solutions to empirical challenges. The paper also discusses the Austrian literature's epistemological approach to...

In 2022, Cambridge University Press is publishing a 50th anniversary edition of Geoff Harcourt’s Some Cambridge Controversies in the Theory of Capital. There will be two afterwords, preceded with this introduction: You have before you CUP’s 50th anniversary edition of Geoff Harcourt’s Some...