The aggregate neoclassical theory of distribution and the concept of a given value of capital: towards a more general critique |
| |
| Institution: | 1. Unidad de Genética, Departamento de Biotecnologia, E.T.S.I.Agrónomos, UPM Ciudad Universitaria s/n. 2080, Madrid, Spain;2. Laboratoire de Physiologie Moléculaire des Plantes, Centre de Biotechnologie de Borj-Cédria (CBBC), BP. 901, Hammam Lif, 2050, Tunisia;3. Laboratoire de Génétique et Amélioration des Céréales, Institut National Agronomique de Tunisie (INAT), 43, Avenue Charles Nicolle, 1082, Tunis, Tunisia;1. Institut de Recherche de Chimie Paris/Physical Chemistry of Surfaces, CNRS – Chimie ParisTech, 11 rue Pierre et Marie Curie, 75005 Paris, France;2. Aperam Isbergues, Research Center – Corrosion & Surface Dept., BP 15, F-62330 Isbergues, France;1. Faculty of Information Technology, Macau University of Science and Technology, Macau, China;2. College of Computer Science & Software Engineering, Shenzhen University, Shenzhen 518060, China;1. Department of Mechanical Engineering, National Institute of Technology, Raipur, Chhattisgarh 492010, India;2. Department of Mechanical Engineering, Kalaniketan Polytechnic College, Jabalpur, Madhya Pradesh 482001, India |
| |
| Abstract: | The aim of this article is to show the weakness of the neo-Ricardian critique of the aggregate neoclassical theory of distribution which affirms the intrinsic inability of this theory to describe a stable equilibrium. The article shows that within the aggregate neoclassical framework both the supply curve for capital, founded on the concept of a given value of capital, and the demand curve for capital are each, and for different reasons, without any appreciable economic meaning. The kind of equilibrium determined by these curves is economically irrelevant. The article stresses the consequence that capital reversal and reswitching are unimportant for the critique of the aggregate neoclassical theory of distribution. |
| |
| Keywords: | |
| 本文献已被 ScienceDirect 等数据库收录！ |
|
