Some Cambridge Controversies in the Theory of Capital

by Geoffrey C. Harcourt

Capital theory traditionally spans two major compartments of economic the theory of production of both individual products and the total product, and the theory of the distribution of the aggregate product between the different classes of capitalist society. It has always been controversial, partly because the subject matter is difficult and partly because rival ideologies and value systems impinge directly on the subject matter. In the present book the various topics associated with the exchanges between the 'neo-Keynesians' and the 'neo-neoclassicals' are discussed and evaluated. The topics include the measurement of capital, the revival of interest in Irving Fisher's rate of return on investment, the double-switching debate, Sraffa's prelude to a critique of neoclassical theory, and the 'new' theories of the rate of profits in capitalist society.

Genres: Economics

288 pages, Paperback

First published May 25, 1972

About the author

Geoffrey Colin "Geoff" Harcourt, D.Litt, A.O. (born 27 June 1931) is an Australian academic economist who is a leading member of the Post Keynesian school. He studied at the University of Melbourne and then at King's College, Cambridge.

He is father to:
Assoc. Prof. Wendy Harcourt of the International Institute of Social Studies, Prof. Robert Harcourt, a marine biologist, Tim Harcourt, an economist, and Rebecca Harcourt.

Reviews

[John Mihelic · Rating 5 out of 5]

How do you measure
Heterogenous inputs?
Broken down well here.