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Alfred Marshall on the theory of capital
Cavalieri, Duccio - Volkswirtschaftliche Fakultät, … - 1992
Marshall's theory of capital was designed to serve two main purposes: an integration of the theory of income … Marshall's theory of capital was the establishment of a functional link between the theory of value and the theory of money. As … a quantity-theorist, Marshall held a "real" theory of the long-period determination of the rate of interest, in the …
Persistent link: https://www.econbiz.de/10011111391
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Marshall’s Influence on Swedish Economic Thought
Sandelin, Bo - Nationalekonomiska institutionen, Handelshögskolan - 2006
Alfred Marshall was by no means ignored, but his influence on Swedish economic thought at the end of the 19th and … Jevons, Menger, Walras and, especially, Böhm-Bawerk. Gustav Cassel was inspired especially by Walras, but preferred Marshall … to Böhm-Bawerk. There are not many references to Marshall in Heckscher's writings, but there may have been an indirect …
Persistent link: https://www.econbiz.de/10005651727
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Lectures on John Maynard Keynes’ General Theory of Employment, Interest and Money (3): Chapter 3, “The Principle of Effective Demand”
Ferguson, Brian S. - Department of Economics and Finance, College of … - 2013
In Chapter 3 of the General Theory, Keynes sketches out what he calls the essence of the General Theory of Employment. He introduces the Keynesian expenditure-based model, his aggregate demand function and also his aggregate supply function, a concept which spawned much debate among...
Persistent link: https://www.econbiz.de/10010721583
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Lectures on John Maynard Keynes’ General Theory of Employment, Interest and Money (4): Chapter 4, "The Choice of Units"; Chapter 5, "Expectations as Determining Output and Employme...
Ferguson, Brian S. - Department of Economics and Finance, College of … - 2013
In Chapter 4 of the General Theory, Keynes discusses the units of measurement he will be using in the remainder of the book, in particular his reason for measuring in nominal rather than real terms, objection to aggregate measures of real output and physical capital stock, and his concept of...
Persistent link: https://www.econbiz.de/10010721584
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Lectures on John Maynard Keynes’ General Theory of Employment, Interest and Money (6): Chapters 8, 9 and 10: Keynes’ Theory of Consumer Behaviour
Ferguson, Brian S. - Department of Economics and Finance, College of … - 2013
Chapters 8, 9 and 10 set out Keynes’ theory of consumer behavior. Chapter 8 is entitled The Propensity to Consume: I. The Objective Factors, Chapter 9 is The Propensity to Consume: II. The Subjective Factors, and Chapter 10 is The Marginal Propensity to Consume and the Multiplier. Contrary to...
Persistent link: https://www.econbiz.de/10010721585
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Lectures on John Maynard Keynes’ General Theory of Employment, Interest and Money (1): Chapter One, Background and Historical Setting
Ferguson, Brian S. - Department of Economics and Finance, College of … - 2013
This paper puts John Maynard Keynes’ "The General Theory of Employment, Interest and Money" into its historical context, both in terms of economic history and in terms of the history of economics. It discusses the post-World War I period as background to the General Theory, looks at the...
Persistent link: https://www.econbiz.de/10010721586
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Lectures on John Maynard Keynes’ General Theory of Employment, Interest and Money (2): Chapter 2, “The Postulates of the Classical Economics”
Ferguson, Brian S. - Department of Economics and Finance, College of … - 2013
Chapter 2 is one of the most important chapters in the General Theory. Not only does it set out Keynes’ disagreements with key elements of the classical model, it lays out his own model of the working of the labour market, which underlies the analysis in the remainder of the General Theory....
Persistent link: https://www.econbiz.de/10010721589
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Lectures on John Maynard Keynes’ General Theory of Employment, Interest and Money (5): Chapter 6, The Definition of Income, Saving and Investment; Appendix to Chapter 6, Appendix o...
Ferguson, Brian S. - Department of Economics and Finance, College of … - 2013
Chapter Six and its Appendix deal in some detail with the way Keynes is defining income, savings and investment in the General Theory while the appendix to Chapter 6 goes into detail on user cost. His concept of user cost at one point sparked a certain amount of controversy among Keynesians but...
Persistent link: https://www.econbiz.de/10010721590
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Equality of Demand and Supply Neither Determines Price Nor Clears the Market
Gani, Mohammad - EconWPA - 2004
The belief that equality of demand and supply determines price and clears the market is universal. Shockingly, this belief is unfounded. It contradicts macro’s claim that equality of demand and supply determines output. It contradicts (new) monetary theory, which claims that equality of demand...
Persistent link: https://www.econbiz.de/10005413280
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Average Cost and Marginal Cost Pricing in Marshall: Textual Analysis and Interpretation
zamparelli, luca - Volkswirtschaftliche Fakultät, … - 2007
This paper proposes a textual analysis of Marshall’s theory of firm pricing behavior under competitive conditions. It … considers to what extent average cost and marginal cost pricing rules characterize Marshall’s competitive partial equilibrium …
Persistent link: https://www.econbiz.de/10005622047