國立虎尾科技大學 |

Essays on the historicity of capital

Record Type:	Language materials, printed : Monograph/item
Title/Author:	Essays on the historicity of capital/ by Alain Herscovici.
Author:	Herscovici, Alain.
Published:	Cham :Springer International Publishing : : 2019.,
Description:	xv, 187 p. :ill., digital ; : 24 cm.;
Contained By:	Springer eBooks
Subject:	Capital. -
Online resource:	https://doi.org/10.1007/978-3-030-14838-6
ISBN:	9783030148386

Essays on the historicity of capital
Herscovici, Alain.

Essays on the historicity of capital[electronic resource] /by Alain Herscovici. - Cham :Springer International Publishing :2019. - xv, 187 p. :ill., digital ;24 cm.

1. Introduction -- Part I: The Epistemological Dimension of Historicity -- 2. Preliminary Considerations about the Historicity of Capital -- 3. Economic Epistemology -- 4. Ricardo, Keynes and Stiglitz: The Epistemological Convergences -- Part II: Historicity and Economic Sciences -- 5. Theory of Differential Rent and Capital Heterogeneity: a Neo-Ricardian Analysis -- 6. The Nature of Capital in the General Theory: Theoretical Implications and Structural Instability -- 7. The Relational Economics: an Example of Substantial Hypothesis Refutation -- 8. The Problem of the Empirical Data: Capital in the Twenty First Century? -- 9. General Conclusion.

The methodological and epistemological problem this book studies is related to the heterogeneity of capital. Capitals are heterogeneous through time and space; at the same time, various heterogeneous capitals must be aggregated, as shown by Ricardo and Keynes. On the other hand, the value of some quantity of aggregate capital changes over time, as demonstrated by Ricardo, Keynes and Stiglitz. For this purpose, this book considers Ricardo, Keynes and Stiglitz. For each author, capital is heterogeneous: Ricardo, from his labor theory; Keynes from the change in expectations, in regard to the return of such capital; and Stiglitz from the divergences between the different groups' expectations. Ricardo was the first author who explained why the value of capital cannot be determined independently from distribution variables and consequently why such value changes when distribution variables change -- this mechanism was deepened by Sraffa and the neo-Ricardian school. Keynes, with the concept of supply price of capital, explains why such value moves in regard to long-term expectations. Finally, Stiglitz's analysis is a complementary approach in regard to Keynes's, insofar as he details the mechanism of speculation observed by Keynes from asymmetries of information. Keynes and Stiglitz's approaches allow complement Ricardo's analysis, insofar expectations are absent from Ricardo's framework. This book argues that epistemological choices allow going beyond the traditional opposition between neo-Ricardian and post-Keynesian approaches, introducing path dependence mechanisms and an "expectational" dimension. From the moment that capital is not a constant value over time and space, it is not possible anymore to consider a well-behaved production function, which this book argues implies refuting all the neoclassical framework, from the stability of the macroeconomic equilibrium and the Marshallian market equilibrium to the convergence towards the steady state.

ISBN: 9783030148386

Standard No.: 10.1007/978-3-030-14838-6doiSubjects--Topical Terms:

560393
Capital.

LC Class. No.: HC79.C3 / H477 2019

Dewey Class. No.: 363

Essays on the historicity of capital
LDR:03578nam a2200325 a 4500 001 939653
003 DE-He213
005 20190926150820.0
006 m d
007 cr nn 008maaau
008 200414s2019 gw s 0 eng d
020 $a 9783030148386 $q (electronic bk.)
020 $a 9783030148379 $q (paper)
024 7 $a 10.1007/978-3-030-14838-6 $2 doi
035 $a 978-3-030-14838-6
040 $a GP $c GP
041 0 $a eng
050 4 $a HC79.C3 $b H477 2019
072 7 $a KCZ $2 bicssc
072 7 $a BUS069000 $2 bisacsh
072 7 $a KCZ $2 thema
082 0 4 $a 363 $2 23
090 $a HC79.C3 $b H571 2019
100 1 $a Herscovici, Alain. $3 1225911
245 1 0 $a Essays on the historicity of capital $h [electronic resource] / $c by Alain Herscovici.
260 $a Cham : $b Springer International Publishing : $b Imprint: Palgrave Macmillan, $c 2019.
300 $a xv, 187 p. : $b ill., digital ; $c 24 cm.
505 0 $a 1. Introduction -- Part I: The Epistemological Dimension of Historicity -- 2. Preliminary Considerations about the Historicity of Capital -- 3. Economic Epistemology -- 4. Ricardo, Keynes and Stiglitz: The Epistemological Convergences -- Part II: Historicity and Economic Sciences -- 5. Theory of Differential Rent and Capital Heterogeneity: a Neo-Ricardian Analysis -- 6. The Nature of Capital in the General Theory: Theoretical Implications and Structural Instability -- 7. The Relational Economics: an Example of Substantial Hypothesis Refutation -- 8. The Problem of the Empirical Data: Capital in the Twenty First Century? -- 9. General Conclusion.
520 $a The methodological and epistemological problem this book studies is related to the heterogeneity of capital. Capitals are heterogeneous through time and space; at the same time, various heterogeneous capitals must be aggregated, as shown by Ricardo and Keynes. On the other hand, the value of some quantity of aggregate capital changes over time, as demonstrated by Ricardo, Keynes and Stiglitz. For this purpose, this book considers Ricardo, Keynes and Stiglitz. For each author, capital is heterogeneous: Ricardo, from his labor theory; Keynes from the change in expectations, in regard to the return of such capital; and Stiglitz from the divergences between the different groups' expectations. Ricardo was the first author who explained why the value of capital cannot be determined independently from distribution variables and consequently why such value changes when distribution variables change -- this mechanism was deepened by Sraffa and the neo-Ricardian school. Keynes, with the concept of supply price of capital, explains why such value moves in regard to long-term expectations. Finally, Stiglitz's analysis is a complementary approach in regard to Keynes's, insofar as he details the mechanism of speculation observed by Keynes from asymmetries of information. Keynes and Stiglitz's approaches allow complement Ricardo's analysis, insofar expectations are absent from Ricardo's framework. This book argues that epistemological choices allow going beyond the traditional opposition between neo-Ricardian and post-Keynesian approaches, introducing path dependence mechanisms and an "expectational" dimension. From the moment that capital is not a constant value over time and space, it is not possible anymore to consider a well-behaved production function, which this book argues implies refuting all the neoclassical framework, from the stability of the macroeconomic equilibrium and the Marshallian market equilibrium to the convergence towards the steady state.
650 0 $a Capital. $3 560393
650 1 4 $a History of Economic Thought/Methodology. $3 1113605
650 2 4 $a Heterodox Economics. $3 1106753
650 2 4 $a Labor Economics. $3 669481
710 2 $a SpringerLink (Online service) $3 593884
773 0 $t Springer eBooks
856 4 0 $u https://doi.org/10.1007/978-3-030-14838-6
950 $a Economics and Finance (Springer-41170)