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Capital and credit: a new formulation of general equilibrium theory

Morishima, Michio (1994) Capital and credit: a new formulation of general equilibrium theory. Cambridge University Press, Cambridge, UK. ISBN 9780521466387

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Identification Number: 10.2277/ 0521466385


Contemporary general equilibrium theory is characteristically short-run, separated from monetary aspects of the economy, and as such does not deal with long-run problems such as capital accumulation, innovation, and the historical movement of the economy. These phenomena are discussed by growth theory, which being short term, cannot deal with the fundamental problem of how the production function is derived. This book provides a much-needed synthesis of growth and monetary theory, drawing on the work of Schumpeter, Keynes and the prewar neoclassical economists to formulate a capital-theoretic general equilibrium theory.

Item Type: Book
Official URL:
Additional Information: © 1994 Cambridge University Press
Divisions: Economics
Subjects: H Social Sciences > HB Economic Theory
Q Science > QA Mathematics
JEL classification: C - Mathematical and Quantitative Methods > C6 - Mathematical Methods and Programming > C68 - Computable General Equilibrium Models
Date Deposited: 16 Nov 2011 11:06
Last Modified: 16 May 2024 12:38

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