Harrod as Economist

Stephen F. Frowen

Chapter 6 in Business, Time and Thought, 1988, pp 70-77 from Palgrave Macmillan

Abstract: Abstract Between the middle nineteen-twenties and the fresh outbreak of war, economic theory was transformed from its foundations. The half-century from 1870 had left in being an edifice whose symmetry, simplicity and seeming inclusiveness had gained it an unquestioned ascendancy over the liberal world. The prices, in terms of a numéraire, of all products and all means of production, the weekly quantity brought to market, and the equal quantity carried off from the market, of each product and each means, the consequent total of incomes of the suppliers of means of production, the total value, in terms of the numéraire, of everything produced in a week, and the crowning and clinching of the whole structure by a proof that those two totals, of incomes and the value of products, each total separately arrived at, were equal: all these things are shown to flow from the nature of human desires and the interaction of their resources. The conception as a whole was the Theory of General Competitive Equilibrium. It seemed by its sheer completeness and its singleness of method to be unassailable. Yet by 1926 there had begun the first of three assaults, in two of which Harrod had a central part to play.

Keywords: General Output; Imperfect Competition; Marginal Revenue; Progressive Economy; Perfect Competition (search for similar items in EconPapers)
Date: 1988
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-08100-4_6

Ordering information: This item can be ordered from
http://www.palgrave.com/9781349081004

DOI: 10.1007/978-1-349-08100-4_6

Access Statistics for this chapter

More chapters in Palgrave Macmillan Books from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().