Theory of Production: A Long-Period Analysis

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Oktober 2004



This book contains a comprehensive treatment of the theory of production in a long-period framework. The issues dealt with include prices and income distribution, economic growth, joint production, fixed capital, scarce natural resources (both renewable and exhaustible), and heterogeneous labor. The issues are treated analytically; in addition, the book's introduction provides a history of the subject.


1. Free competition and long-period positions; 2. A one-commodity model; 3. Two-commodity models; 4. Models with any number of commodities; 5. Choice of technique; 6. Alternative descriptions of a 'technique'; 7. Fixed capital models; 8. Joint production; 9. Models with jointly utilized machines; 10. Land; 11. Persistent wage and profit rate differentials; 12. On limits to the long-period method; 13. Production as a circular flow and the concept of surplus; 14. The neoclassical theory of distribution and the problem of 'capital'; 15. On some alternative theories of distribution; Mathematical appendix.


'The Theory of Production is a tour de force that provides a needed authoritative survey of modern competitive theory on technology and prices. It seems a golden mean between mathematical complexities, policy alternatives, and historical geneses. I expect to wear out a copy every two years from extensive use.' Paul A. Samuelson, MIT 'The Theory of Production is a remarkably clear and precise statement of linear economic theory post-Sraffa. The sound analytical work is complemented by substantial historical notes in most chapters and the work is a pleasure to read.' Ivan Steedman, University of Manchester
EAN: 9780521588676
ISBN: 0521588677
Untertitel: Revised. Sprache: Englisch.
Erscheinungsdatum: Oktober 2004
Seitenanzahl: 592 Seiten
Format: kartoniert
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