Theory of Capital and Cambridge Controversies

Lefteris Tsoulfidis ()

Chapter Chapter 9 in Competing Schools of Economic Thought, 2024, pp 223-249 from Springer

Abstract: Abstract Production with produced means of production, that is, capital, is fraught with issues having to do with the capital being reproduced, depreciating, and its price being equal to its cost. We discuss the various efforts of neoclassical economists starting from Jevons, going to Böhm-Bawerk and Samuelson's exploration of a one-commodity world. We find that the measurement of capital goods in a way that is consistent with the requirements of the neoclassical theory of value and distribution reveals formidable problems, as was concluded in the famous capital theory controversies of the 1960s. Furthermore, we discuss some more recent developments connected to these debates

Keywords: Capital controversies; Income distribution; Wage rate; Capital good; Average period of production (search for similar items in EconPapers)
Date: 2024
References: Add references at CitEc
Citations:

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

Related works:
Chapter: Theory of Capital and Cambridge Controversies (2009)
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:spr:spshcp:978-3-031-58580-7_9

Ordering information: This item can be ordered from
http://www.springer.com/9783031585807

DOI: 10.1007/978-3-031-58580-7_9

Access Statistics for this chapter

More chapters in Springer Studies in the History of Economic Thought from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().