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THE THEORY OF VALUE, CAPITAL AND INTEREST: A New Approach

THE THEORY OF VALUE, CAPITAL AND INTEREST: A New Approach (Hardback)

£96.00
To Order. Estimated despatch in 1-3 weeks.
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Synopsis

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 growth - expansion 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.

BusinessEconomicsEconomic theory & philosophy Publisher: Edward Elgar Publishing Ltd Publication Date: 01/01/1995 ISBN-13: 9781858980553  Details: Type: Hardback Format: Books
Availability: To Order. Estimated despatch in 1-3 weeks.  

The late Branko Horvat, formerly Head of the Zagreb Institute of Economics, President of the Social-Democratic Union of Croatia and Life President of the International Association for the Economics of Self-management, Croatia

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