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Introduction Into Capital Theory : A Neo-Austrian Perspective - Gunter Stephan

Introduction Into Capital Theory

A Neo-Austrian Perspective

Hardcover Published: 24th July 1995
ISBN: 9783540593508
Number Of Pages: 293

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Capital theory is a cornerstone of modern economics. Its ideas are fundamental for dynamic equilibrium theory and its concepts are applied in many branches of economics like game theory, resource and environmental economics, although this may not be recognized on a first glance. In this monograph, an approach is presented, which allows to derive important results of capital theory in a coherent and readily accessible framework. A special emphasis is given on infinite horizon and overlapping generations economics. Irreversibility of time, or the failure of the market system appear in a different light if an infinite horizon framework is applied. To bridge the gap between pure and applied economic theory, the structure of our theoretical approach is integrated in a computable general equilibrium model.

Introduction and Motivationp. 1
Basic Conceptsp. 19
A Neo-Austrian Approach: Basic Conceptsp. 49
Neo-Austrian Concepts in a Multisector-Multiperiod Frameworkp. 79
The Open-Endedness of the Future: Motivation, Arguments, Frameworkp. 105
Steady State Economiesp. 119
Prices in an Open-ended Worldp. 145
The Open-Endedness of Time and Efficiency Prices: Sufficient and Necessary Conditionsp. 175
Overlapping Generations, Superiority of Roundaboutness and Pareto-Efficiencyp. 201
Incomplete Markets: A Neo-Austrian Theory of Computable General Equilibrium Modelsp. 229
Incomplete Markets and Computable Equilibria: A Numerical Illustrationp. 253
Referencesp. 273
Author Indexp. 283
Subject Indexp. 287
Table of Contents provided by Blackwell. All Rights Reserved.

ISBN: 9783540593508
ISBN-10: 3540593500
Audience: General
Format: Hardcover
Language: English
Number Of Pages: 293
Published: 24th July 1995
Publisher: Springer-Verlag Berlin and Heidelberg Gmbh & Co. Kg
Country of Publication: DE
Dimensions (cm): 23.39 x 15.6  x 1.91
Weight (kg): 0.61

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