Theory of Economic Dynamics 1st Edition by M Kalecki ISBN 0415313732 9780415313735

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ISBN 10: 0415313732
ISBN 13: 9780415313735
Author: M Kalecki

Theory of Economic Dynamics 1st Table of contents:

Part 1 Degree of Monopoly and Distribution of Income
1 Cost and Prices

• ‘Cost-Determined’ and ‘Demand-Determined’ Prices

• Price Fixing by a Firm

• Price Formation in an Industry: A Special Case

• Price Formation in an Industry: General Case

• Causes of Change in the Degree of Monopoly

• The Long-Run and Short-Run Cost-Price Relations

• Application to the Long-Run Changes in United States Manufacturing

• Application to United States Manufacturing and Retail Trade During the Great Depression

• Fluctuations in Prices of Raw Materials

• Price Formation of Finished Goods

2 Distribution of National Income

• Determinants of the Relative Share of Wages in Income

• Long-Run and Short-Run Changes in the Distribution of Income

• Long-Run Changes in the Relative Share of Wages in the Value Added of United States Manufacturing and in the National Income of the United Kingdom

• Changes in the Relative Share of Wages in the Value Added of United States Manufacturing During the Great Depression

• Changes in the Relative Share of Wages in the National Income in the United States and the United Kingdom During the Great Depression

• Cyclical Changes in the Relative Share of Wages and Salaries in the Gross Income of the Private Sector

Part 2 Determination of Profits and National Income
3 The Determinants of Profits

• Theory of Profits in a Simplified Model

• The General Case

• Savings and Investment

• The Effect of the Export Surplus and Budget Deficit

4 Profits and Investment

• Profits and Investment Under Simplifying Assumptions

• The General Case

• Statistical Illustration

5 Determination of National Income and Consumption

• Introduction

• National Product, Profits, and Investment in a Simplified Model

• Changes in Investment and Consumption in a Simplified Model

• The General Case

• Statistical Illustration

• Gross Product of the Private Sector

• Long-Run Changes in Investment and Income

Part 3 The Rate of Interest
6 The Short-Term Rate of Interest

• Introduction

• Velocity of Circulation and the Short-Term Rate

• Statistical Illustration

• Changes in the Supply of Cash by Banks

• Cyclical Changes in the Short-Term Rate of Interest

7 The Long-Term Rate of Interest

• The Short-Term Rate and the Long-Term Rate

• Application to the Yields of British Consols, 1849–1938

• Stability of the Long-Term Rate of Interest During the Business Cycle

Part 4 Determination of Investment
8 Entrepreneurial Capital and Investment

• The Size of the Firm and Entrepreneurial Capital

• The Problem of Joint-Stock Companies

• Concluding Remarks

9 Determinants of Investment

• Determinants of Fixed Capital Investment Decisions

• Factors not Taken into Consideration

• Two Special Cases of the Theory

• Examination of the Fundamental Equation

• Investment in Inventories

• Formula for Total Investment

10 Statistical Illustration

• The Problem of Time Lag

• Investment in Fixed Capital

• Investment in Inventories

• Total Investment

Part 5 The Business Cycle
11 The Mechanism of the Business Cycle

• Equations Determining the Dynamic Process

• The Equation of the Business Cycle

• The Automatic Business Cycle

• The ‘Ceiling’ and the ‘Floor’

• Explosive and Damped Fluctuations

• The Business Cycle and Utilization of Resources

12 Statistical Illustration

• Deriving the ‘Business Cycle Equation’

• Derivation of Cyclical Fluctuations

13 The Business Cycle and Shocks

• Illustration of the Problem

• The New Approach

Part 6 Long-Run Economic Development
14 The Process of Economic Development

• The Long-Run Trend and the Business Cycle

• Assumption About Long-Run Changes in L

• Assumption About Long-Run Changes in D′

• The Long-Run Trend

• The Process of Adjustment

• The Uniform Trend

• Uniform and Retarded Growth

15 The Development Factors

• Recapitulation of the Theory of Investment

• Innovations

• Rentiers’ Savings

• Growth in Population

• Concluding Remarks

• Statistical Appendix

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Tags: M Kalecki, Economic, Dynamics