Download or read book Philip Henry Wicksteed s Marginal Productivity Theory of Distribution and an Investigation of Those Factors which Influenced Its Formulation written by Joseph Key Garner and published by . This book was released on 1970 with total page 168 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Marginal Productivity Theory of Distribution written by John Pullen and published by Routledge. This book was released on 2009-06-26 with total page 265 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Marginal Productivity Theory of Distribution (MPTD) claims that in a free-market economy the demand for a factor of production will depend upon its marginal product – where "marginal product" is defined as the change in total product that is caused by, or that follows, the addition or subtraction of the marginal unit of the factor used in the production process, with all other inputs held constant. From its inception in the early nineteenth century the MPTD has been claimed by some economists to be a solution to the ethical problem of distributive justice, i.e. to be a means of determining fairness in wages, profits, interest and rent. Other economists have rejected this ethical claim, but have seen the MPTD as a valid demand-side criterion in the determination of equilibrium and efficiency. This book argues that the MPTD is valid, neither as a normative theory of social justice, nor as a positive law of economics. It suggests that economics is yet to develop a satisfactory theory of distribution that is scientific in the quantitative or mathematical sense. Through a survey of the origin and subsequent evolution of the MPTD in the writings of over 50 contributors over 150 years, John Pullen presents a critical history of the concept. The book begins by examining the conceptual tools that have been deployed to facilitate this analysis of past contributions to the MPTD and then looks at various economists and their contribution to the debate including its supporters such as Wicksteed, Marshall, Wicksell and Stigler, and its critics such as Pareto, Hobson, Edgeworth, Adriance and Cassel.
Download or read book The Co ordination of the Laws of Distribution written by Philip Henry Wicksteed and published by Edward Elgar Publishing. This book was released on 1992 with total page 136 pages. Available in PDF, EPUB and Kindle. Book excerpt: This classic work, first published in 1894, has a central place within the development of marginal productivity theory. It is presented here with a long introduction, followed by both a careful analysis of the text and an assessment of Wicksteed's place within the development of modern economics.
Download or read book An Essay on the Co ordination of the Laws of Distribution written by Philip Henry Wicksteed and published by . This book was released on 1894 with total page 124 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The marginal productivity theory of distribution written by and published by . This book was released on 2010 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Development of the Marginal Productivity Theory of Distribution written by Mary Elizabeth Lyddane and published by . This book was released on 1952 with total page 104 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Common Sense of Political Economy Including a Study of the Human Basis of Economic Law written by Philip Henry Wicksteed and published by . This book was released on 1910 with total page 734 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Commonsense of Political Economy written by Philip H. Wicksteed and published by Routledge. This book was released on 2013-11-05 with total page 437 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is Volume XXI of twenty-three in a collection on the History of Economic Thought. Originally published in 1933, this volume offers selected papers and reviews on economic theory as the first volume of two.
Download or read book The Economics of Distribution written by John Atkinson Hobson and published by . This book was released on 2019-10 with total page 378 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The Economics of Distribution" is a 1900 treatise by English economist John Atkinson Hobson. Within it, Hobson attempts to construct a self-consistent theory of Distribution through the analysis of the various process of bargaining that facilitate economic distribution with reference to the factors of production and the beneficiaries of economic cooperation. Contents include: "The Determination of a Marketplace", "Producer's and Consumer's Rents", "The Determination of Long-period Prices and of Value", "The Law of Rent as the Basis of Coordination of the Factors of Production", "The Grading of Labour and Capital. Marginal and Differential Payments", "The Coordination of the Factors of Production. Effects on the Theory of Price and Distribution", etc. John Atkinson Hobson (1858 - 1940) was an English social scientist and economist most famous for his work on imperialism-which notably had an influence on Vladimir Lenin-as well as his theory of underconsumption. His early work also questioned the classical theory of rent and predicted the Neoclassical "marginal productivity" theory of distribution. Many vintage books such as this are becoming increasingly scarce and expensive. We are republishing this volume now in an affordable, modern, high-quality edition complete with an introductory chapter from Hobson's "The Evolution of Modern Capitalism" (1906).
Download or read book The Marginal Productivity Theory of Distribution and the Cobb Douglas Function written by Alve Maurice Tuttle and published by . This book was released on 1947 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book On the Cambridge England Critique of the Marginal Productivity Theory of Distribution written by G.C. Harcourt and published by . This book was released on 2014 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Cambridge, England, critique of the marginal productivity theory of distribution is hard to disentangle from the related theories and developments that occurred alongside it. These include value theory, price theory, capital theory, growth theory and methodology. Indeed, in the event, I found it impossible to disentangle them and I argue in the concluding section that not being able to do so is no bad thing anyway. The economists associated with the critique - Krishna Bharadwaj, Pierangelo Garegnani, Richard Kahn, Nicholas Kaldor, Luigi Pasinetti, Joan Robinson, Piero Sraffa - were simultaneously developing their own theories of distribution to replace marginal productivity. Their theories were embodied in theories of growth and reflected the methodology associated with the critique and their own developments.
Download or read book The Mistakes of the Marginal Productivity Theory of Income Distribution written by Dimitrios Nomidis and published by . This book was released on 2019 with total page 19 pages. Available in PDF, EPUB and Kindle. Book excerpt: The debate that took place at the end of 19th and the beginning of 20th century on the neoclassical income distribution theory based on the marginal productivity of the production factors is well known. The debate evolved especially around the question whether the product is exactly exhausted through its distribution to the factors of production according to the value of their marginal products. This question is now considered resolved and closed by the proofs presented by Wicksell, Walras and later on by other distinguished economists (Chapman, Hicks etc). The purpose of this paper is to demonstrate that the proofs which were presented to support the product exhaustion theorem are mistaken and consequently the theory of income distribution on the basis of the marginal productivity of the production factors is wrong. Furthermore, this paper attempts to detect and explain the profounder reasons that presumably led to these mistakes, as well as to identify and propound the new relations that replace the wrong ones of the product exhaustion theorem. Last, it attempts to formulate the equilibrium of the whole economic system (demand, supply, production, factors of production etc) through a holistic-way equation system.
Download or read book Production and Distribution Theories written by George Joseph Stigler and published by . This book was released on 1968 with total page 420 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Economics in One Lesson written by Henry Hazlitt and published by Crown Currency. This book was released on 2010-08-11 with total page 220 pages. Available in PDF, EPUB and Kindle. Book excerpt: With over a million copies sold, Economics in One Lesson is an essential guide to the basics of economic theory. A fundamental influence on modern libertarianism, Hazlitt defends capitalism and the free market from economic myths that persist to this day. Considered among the leading economic thinkers of the “Austrian School,” which includes Carl Menger, Ludwig von Mises, Friedrich (F.A.) Hayek, and others, Henry Hazlitt (1894-1993), was a libertarian philosopher, an economist, and a journalist. He was the founding vice-president of the Foundation for Economic Education and an early editor of The Freeman magazine, an influential libertarian publication. Hazlitt wrote Economics in One Lesson, his seminal work, in 1946. Concise and instructive, it is also deceptively prescient and far-reaching in its efforts to dissemble economic fallacies that are so prevalent they have almost become a new orthodoxy. Economic commentators across the political spectrum have credited Hazlitt with foreseeing the collapse of the global economy which occurred more than 50 years after the initial publication of Economics in One Lesson. Hazlitt’s focus on non-governmental solutions, strong — and strongly reasoned — anti-deficit position, and general emphasis on free markets, economic liberty of individuals, and the dangers of government intervention make Economics in One Lesson every bit as relevant and valuable today as it has been since publication.
Download or read book Wicksteed s Recantation of the Marginal Productivity Theory written by Joseph Dorfman and published by . This book was released on 1964 with total page 2 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Capital as Power written by Jonathan Nitzan and published by Routledge. This book was released on 2009-06-02 with total page 853 pages. Available in PDF, EPUB and Kindle. Book excerpt: Conventional theories of capitalism are mired in a deep crisis: after centuries of debate, they are still unable to tell us what capital is. Liberals and Marxists both think of capital as an ‘economic’ entity that they count in universal units of ‘utils’ or ‘abstract labour’, respectively. But these units are totally fictitious. Nobody has ever been able to observe or measure them, and for a good reason: they don’t exist. Since liberalism and Marxism depend on these non-existing units, their theories hang in suspension. They cannot explain the process that matters most – the accumulation of capital. This book offers a radical alternative. According to the authors, capital is not a narrow economic entity, but a symbolic quantification of power. It has little to do with utility or abstract labour, and it extends far beyond machines and production lines. Capital, the authors claim, represents the organized power of dominant capital groups to reshape – or creorder – their society. Written in simple language, accessible to lay readers and experts alike, the book develops a novel political economy. It takes the reader through the history, assumptions and limitations of mainstream economics and its associated theories of politics. It examines the evolution of Marxist thinking on accumulation and the state. And it articulates an innovative theory of ‘capital as power’ and a new history of the ‘capitalist mode of power’.
Download or read book The Role of Hobson in the Emergence of the Marginal Productivity Theory of Distribution written by Michael Schneider and published by . This book was released on 1994 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt:
