Economics Dictionary of ArgumentsHome
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| Demand: In economics, demand refers to the quantity of a good or service that consumers are willing and able to purchase at various prices. It is represented by a demand curve, which shows the inverse relationship between price and quantity demanded. See also Price, Markets._____________Annotation: The above characterizations of concepts are neither definitions nor exhausting presentations of problems related to them. Instead, they are intended to give a short introduction to the contributions below. – Lexicon of Arguments. | |||
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Neo-Neoclassical Economics on Demand - Dictionary of Arguments
Harcourt I 104/105 Demand/Neo-Keynesianism/Neo-Neoclassicals/Harcourt: (…) The analysis brings out the emphasis on effective demand which the neo-Keynesians are always conscious of, well, nearly always, but which tends to get lost sight of in the technocratic neoclassical approach to distribution theory-what Joan Robinson [1970b](1) calls pre-Keynesian theory after Keynes.* This does not imply that in the latter approach demand is ignored; it is, however, relative demands, not effective demand, which get star-billing. Of course, once the real wage is known, with given technical conditions and-in a non-butter world, the rate of profits, relative prices and the value of capital may be determined by calculating the 'Sraffa' prices of the system: see Sraffa [1960](2), part I, chapter 4 (…) * On this, see two earlier papers by Solow [1962a(3), 1963b(4)] and Joan Robinson's Comments [1962b](5). 1. Robinson, Joan [1970b] 'Review of C. E. Ferguson, The Neoclassical Theory of Production and Distribution, 1969', Economic Journal, LXXX, pp. 336-9. 2. Sraffa, P. (1960) Production of Commodities by Means of Commodities. Prelude to a Critique of Economic Theory (Cambridge: Cambridge University Press). 3. Solow, R. M. [1962a] 'Substitution and Fixed Proportions in the Theory of Capital', Review of Economic Studies, xxrx, pp. 207-18. 4. Solow, R. M. [1963b] 'Heterogeneous Capital and Smooth Production Functions: An Experimental Study', Econometrica, xxxi, pp. 623-45. 5. Robinson, Joan, [1962b] 'Comment on Solow et aV, Review of Economic Studies, xxix, pp. 258-66._____________Explanation of symbols: Roman numerals indicate the source, arabic numerals indicate the page number. The corresponding books are indicated on the right hand side. ((s)…): Comment by the sender of the contribution. Translations: Dictionary of Arguments The note [Concept/Author], [Author1]Vs[Author2] or [Author]Vs[term] resp. "problem:"/"solution:", "old:"/"new:" and "thesis:" is an addition from the Dictionary of Arguments. If a German edition is specified, the page numbers refer to this edition. |
Neo-Neoclassical Economics Harcourt I Geoffrey C. Harcourt Some Cambridge controversies in the theory of capital Cambridge 1972 |
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