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OverviewThis work presents a system-theoretic foundation of the theory of price formation and production. System theory is shown to constitute a common framework to a variety of seemingly different approaches to that field. The author is able to demonstrate that traditional Walrasian theory is intertemporally inconsistent while the systems of intertemporal equilibrium, both neo-classical and neo-Ricardian, are shown to merely emphasize different aspects of the same underlying structure, irrespective of their rivaling claims to generality. The method employed by the author also proves useful in a variety of applications, for examplel, input-output theory, the incorporation of durable capital and the analysis of Marxist theory. Problems of empirical analysis and of control are also briefly discussed. Adjustment processes are provided for both cross-section data and time-series observations of varying period length. As to control, it is shown that contrary to conventional view, control over the economy by the price mechanism becomes rather uncertain and incomplete when analysed from a thoroughly dynamic point of view. Full Product DetailsAuthor: Albrecht RitschlPublisher: Springer-Verlag Berlin and Heidelberg GmbH & Co. KG Imprint: Physica-Verlag GmbH & Co Edition: Softcover reprint of the original 1st ed. 1989 Dimensions: Width: 17.00cm , Height: 0.90cm , Length: 24.40cm Weight: 0.309kg ISBN: 9783790804294ISBN 10: 3790804290 Pages: 159 Publication Date: 07 March 1989 Audience: College/higher education , Professional and scholarly , Postgraduate, Research & Scholarly , Professional & Vocational Format: Paperback Publisher's Status: Active Availability: Out of stock  The supplier is temporarily out of stock of this item. It will be ordered for you on backorder and shipped when it becomes available. Table of ContentsReviewsAuthor InformationTab Content 6Author Website:Countries AvailableAll regions |
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