Incomplete Market Clearing

Edmond Malinvaud

Chapter 7 in Value and Capital: Fifty Years Later, 1991, pp 179-196 from Palgrave Macmillan

Abstract: Abstract Value and Capital was rightly read as dealing with the fundamental ideas and principles from which economic theory could develop. Today one of the most debated issues about our fundamental ideas concerns the extent of market clearing. My function in this confer ence is to open our discussion on this issue, hence mainly to identify the problems and hopefully help to a better recognition of the roles that various theories on the operation of the market system can respectively play.

Keywords: Real Wage; Demand Curve; Price System; Comparative Static Result; Capital Intensity (search for similar items in EconPapers)
Date: 1991
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DOI: 10.1007/978-1-349-11029-2_12

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