Methods of Dynamic Economics
Annotation. Capital and Growth was published in 1965, and rapidly established itself as a landmark in economic theory. In this volume, Sir John takes his earlier work and examines it critically for its present-day value. The result is a substantially reworked book based on the first and best part of his1965 publication. The theme, now more clearly identified, is a comparative study of the economics of change, and brings in many of Hicks's subsequent developments and refinements - in particular a 'neo-Austrian' theory of capital which he developed in Capital and Time(1973). A new chapter onKeynes's methods has been added. The sum is a more complete classification of the family of models appropriate for analysing dynamic economics.
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1 Method Dynamics and Statics
2 The Concept of Equilibrium
3 Static Method in Dynamic Theory
4 Primitive Growth ModelsAdam Smith and Ricardo
5 The Method of Marshall
6 The Methods of Keynes
7 The Temporary Equilibrium Method
8 The Fixprice Method
9 Stocks and Flows
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actual adjustment analysis assume assumption balance-sheet beginning capital stock chapter condition consumption corn curve deﬁned deﬁnition demand depends determined difference equation disequilibrium dynamic theory economists economy equal equation equi equilib equilibrium path Essays expansion ﬁnd ﬁrst fixed capital Fixprice ﬂexibility ﬂow flow equilibrium ﬂuctuations follow full employment given growth rate happens Harrod income increase industry initial inputs Keynes Keynes’s Keynesian labour librium Lindahl look marginal utility market form Marshall Marshall’s monetary optimum output particular perfect competition position possible price expectations problem production proﬁt quantities question rate of interest rate of profit ratio Ricardo rise rium satisﬁed saving sense simpliﬁcation single period Smith static equilibrium static method static theory stationary stock and flow stock equilibrium supply suppose taken technique Temporary Equilibrium method things tion Treatise unchanged utility Value and Capital wages Welfare Economics whole