An Outline of the history of economic thought - Chapter 10 pdf

... as it is self-finance, rather than external finance, that determines the growth of a firm in the long run, the mark-up will be calculated with the aim of expanding the firm. The idea of using investment ... the behaviourial approach to the theory of the firm, of which we will mention only the book by R. Cyert and J. March: A Beh avioural Theory of the Firm (1963)....

Ngày tải lên: 06/07/2014, 04:20

... 409 10. 3. The Controversy on Marginalism in the Theory of the Firm and Markets 413 10. 3.1. Critiques of the neoclassical theory of the firm 413 10. 3.2. Post-Keynesian theories of the firm 415 10. 3.3. Managerial ... The Ricardians, Ricardianism, and the classical tradition 100 3.2.2. The anti-Ricardian reaction 102 3.2.3. Cournot and Dupuit 104 3.2.4. Goss...

Ngày tải lên: 06/07/2014, 04:20

... From the theoretical point of view, they seemed to ignore the quantity theory of money. The adjustment mechanism of the balance of payments theorized by Hume, and known as the price–specie-flow ... pre-Malthusian: the con- vergence of the two types of wage would go hand in hand with the conver- gence of the working population towards the demand for labour. Be...

Ngày tải lên: 06/07/2014, 04:20

... which the control of the means of production, and therefore the production, is no longer in the worke rs’ hands. When capitalists and landlords take part in the division of the product, the exchange ... two 56 laissez-faire and smithian economics 2 The Laissez-Faire Revolution and Smithian Economics 2.1. The Laissez-Faire Revolution 2.1.1. The preconditions of the...

Ngày tải lên: 06/07/2014, 04:20

... the vaults of the Bank of England. Furthermore, the difficulties of the war and the Continental blockade made the export channels increasingly arduous and the supply of raw materials and wage goods ... important for the explanation of profit and of the role played by capital in the production process. From the point of view of the history of economic...

Ngày tải lên: 06/07/2014, 04:20

... with that of ‘Ricardian economics’: a theoretical system based on the theory of surplus, the labour theory of value, the methodology of aggregates, and the analysis of the behaviour of the social classes ... development of the Ricardian theses about the occupational effects of the introduction of machines). The increase in the ‘reserve army’ will then s...

Ngày tải lên: 06/07/2014, 04:20

... administration of the household, but that of the State; no longer the study of the causes of the enrichment of the individuals, but that of the nation, the people, and the merchant class. It is significant ... Walras’s vision of the working of the economic system The major contribution of Le´on Walras to economic analysis was his theory of the...

Ngày tải lên: 06/07/2014, 04:20

... important work on monetary theory. He was one of the first to use the aggregate supply-and-demand approach to explain variations in the value of money. In most versions of the quantity theory of ... M 0 the current- account bank deposits, V 0 the rate of turnover of the deposits, and T the transactions. No other mathematical formula in the whol e of economics, n...

Ngày tải lên: 06/07/2014, 04:20

... circulation, P the level of prices, and T the level of transactions, becomes an explanation of the value of money once V, T, and M have been fixed exogenously. The dif- ficulties and the interesting ... way of thinking. 7.1.5. The multiplier and the accelerator The fourth great stream of thought in dynamic theory in the inter-war period was the study of th...

Ngày tải lên: 06/07/2014, 04:20

... labour, from the theory of public economics to the theory of the conflict of interests. He be lieved that the study of ‘collective action’, i.e. of the activity (and the apparatus) of ‘control of individual ... privileged field of study in an area on the borderline between economics and law and can be considered one of the founders of the new discipline...

Ngày tải lên: 06/07/2014, 04:20