In their book 'Theory of Production' (1995), H. Kurz and N. Salvadori thoroughly account for the recent developments in the classica theory of value. They, however, claim that long-period classical analysis can only deal with stationary economies, or economies in balanced growth, and restrict their theoretical treatment accordingly. This aspect of the book is singled out for coments, and it is argued that Kurz and Salvadori's perception of the limits to the use of the 'long-period method' in classical analysis does not seem to rely on convincing foundations. Some critical remarks are also offered concerning the 'alternative analytical framework' suggested in the book
Growth, returns to scale and the classical theory of value and distribution / Ravagnani, Fabio. - In: CONTRIBUTIONS TO POLITICAL ECONOMY. - ISSN 0277-5921. - STAMPA. - 18:(1998), pp. 69-77. [10.1093/cpe/17.1.69]
Growth, returns to scale and the classical theory of value and distribution
RAVAGNANI, Fabio
1998
Abstract
In their book 'Theory of Production' (1995), H. Kurz and N. Salvadori thoroughly account for the recent developments in the classica theory of value. They, however, claim that long-period classical analysis can only deal with stationary economies, or economies in balanced growth, and restrict their theoretical treatment accordingly. This aspect of the book is singled out for coments, and it is argued that Kurz and Salvadori's perception of the limits to the use of the 'long-period method' in classical analysis does not seem to rely on convincing foundations. Some critical remarks are also offered concerning the 'alternative analytical framework' suggested in the bookI documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.