Capital-Reversing and Reswitching (2009)

Geoffrey Harcourt

Chapter 4 in The Making of a Post-Keynesian Economist: Cambridge Harvest, 2012, pp 99-111 from Palgrave Macmillan

Abstract: Abstract We start by defining the interrelated phenomena of capital-reversing and reswitching.† Capital-reversing (the Ruth Cohen Curiosum) in that a less productive, less capital-intensive technique may be associated with a lower value of the rate of profits (r). Reswitching is that the same technique, having been the most profitable one for a particular set of values or ranges of values of r and the wage rate (w), could also be the most profitable at another range (or ranges) of values of r and w, even though other techniques were the most profitable at values of r and w in between.

Keywords: Production Function; Quarterly Journal; Wage Rate; Gestation Period; Real Capital (search for similar items in EconPapers)
Date: 2012
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DOI: 10.1057/9780230348653_5

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