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- W2024063232 abstract "The aim of this article is to show the weakness of the neo-Ricardian critique of the aggregate neoclassical theory of distribution which affirms the intrinsic inability of this theory to describe a stable equilibrium. The article shows that within the aggregate neoclassical framework both the supply curve for capital, founded on the concept of a given value of capital, and the demand curve for capital are each, and for different reasons, without any appreciable economic meaning. The kind of equilibrium determined by these curves is economically irrelevant. The article stresses the consequence that capital reversal and reswitching are unimportant for the critique of the aggregate neoclassical theory of distribution." @default.
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- W2024063232 date "1999-12-01" @default.
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- W2024063232 title "The aggregate neoclassical theory of distribution and the concept of a given value of capital: towards a more general critique" @default.
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- W2024063232 doi "https://doi.org/10.1016/s0954-349x(99)00015-6" @default.
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