Garegnani on a way to avoid the value capital endowment in Wicksell (1898)

Fabio Petri ()

Department of Economics University of Siena from Department of Economics, University of Siena

Abstract: Pierangelo Garegnani has argued that the value capital endowment could have been avoided in Knut Wicksell’s long-period general equilibrium in Value Capital and Rent (1898); the capital endowment might have been specified as an amount of labour embodied in the economy’s stock of capital goods, which would have avoided the vicious circle of a factor endowment dependent on what the equilibrium must determine. The paper argues that this thesis cannot be accepted.

JEL-codes: B13 D50 (search for similar items in EconPapers)
Date: 2015-03
New Economics Papers: this item is included in nep-his and nep-hpe
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Persistent link: https://EconPapers.repec.org/RePEc:usi:wpaper:707

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