Capital in Disequilibrium: The Role of Capital in a Changing World / Edition 1

by Peter Lewin

Overview

Drawing on the work of the Austrian School and its heirs, Capital in Disequilibrium develops a modern, systematic version of capital theory in order to suggest a new approach to the subject of economics. Original and provocative in his reflection, Lewin offers both a new approach and an accessible discussion of one of the most important, but also one of the most difficult, areas in economics.

Product Details

ISBN-13:	9781138988071
Publisher:	Taylor & Francis
Publication date:	01/31/2016
Series:	Routledge Foundations of the Market Economy
Pages:	266
Product dimensions:	5.44(w) x 8.50(h) x (d)

Table of Contents

Acknowledgments, 1 Introduction and outline, PART I Background: equilibrium and change, PART II Capital, interest, and profits, PART III Capital in a dynamic world, Notes, Bibliography, Index

Editorial Reviews

In light of the failure of traditional macroeconomics to explain unemployment, economic development, and productivity, draws on the work of the Austrian School to develop a revised, systematic version of capital theory in order to suggest a new approach to economics. Lewin (economics and finance, U. of Texas-Dallas) argues that approaches based on equilibrium constructs ignore the crucial role of technological innovation in markets, and proposes instead that economic theory proceed from the assumption of disequilibrium. He applies the approach to human capital, business cycles, and the economics of institutions. Annotation c. Book News, Inc., Portland, OR (booknew.com)

Booknews