The General Theory of Employment

Joan Robinson

Chapter Chapter VIII in An Essay on Marxian Economics, 1966, pp 63-72 from Palgrave Macmillan

Abstract: Abstract So far we have considered the orthodox theory of long-period equilibrium — the theory which applies to a situation in which the stock of capital is adjusted to circumstances, with zero net investment. The process of adjusting the stock of capital to any change in circumstances takes a long time to work through. It is therefore necessary to supplement the long-period theory by an analysis of the short-period situation, in which the process of accumulation is going on.

Keywords: Full Employment; Capitalist System; Active Circulation; Money Wage; Supply Price (search for similar items in EconPapers)
Date: 1966
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DOI: 10.1007/978-1-349-15228-5_8

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