1st Edition

Capital Theory and Political Economy Prices, Income Distribution and Stability

By Lefteris Tsoulfidis Copyright 2021
242 Pages 66 B/W Illustrations
by Routledge

242 Pages 66 B/W Illustrations
by Routledge

242 Pages 66 B/W Illustrations
by Routledge

In recent years, there have been a number of new developments in what came to be known as the "Capital Theory Debates". The debates took place mainly during the 1960s as a result of Piero Sraffa's critique of the neoclassical theory according to which the prices of factors of production directly depend on their relative scarcities. Sraffa showed that when income distribution changes, there are... Read more

List of Figures

List of Tables

List of Abbreviations

Preface and Acknowledgements

Chapter 1: Preliminaries

Chapter 2: Theory of Capital in Historical Perspective

Chapter 3: Capital Theory Controversies

Chapter 4: Price Trajectories and the Rate of Profit

Chapter 5: Wage-Rate of Profit Curves and Technological Change

Chapter 6: Near Linearities of the Price- and Wage-Rates of Profit Curves and the Distribution of Eigenvalues

Chapter 7: A Simple but Realistic Linear Model of Production

Chapter 8: Summing-Up

References

Index

Biography

Lefteris Tsoulfidis  holds a Ph.D. and an M.A. in economics from the New School for Social Research in New York, and a B.A. in economics from the University of Macedonia. He is currently a Professor in the Department of Economics at the  University of Macedonia in Thessaloniki, where he teaches courses in the history of economic thought, economic history, political economy, mathematical economics and macroeconomics.

He is the author of Competing Schools of Economic Thought (2010) and co-author of Modern Classical Economics and Reality. A Spectral Analysis of the Theory of Value and Distribution (2016) and  Classical Political Economics and Modern Capitalism: Theories of Value, Competition, Trade and Long Cycles (2019).