Malinvaud on Wicksell’s legacy to capital theory: some critical remarks

Fratini, Saverio M. (2012): Malinvaud on Wicksell’s legacy to capital theory: some critical remarks. Forthcoming in:

Abstract

This critique of Malinvaud’s article of 2003 on Wicksell’s legacy to capital theory focuses in particular on three points raised there. The first regards the given amount of existing capital that appears in Wicksell’s theory and its connection with his alleged “missing equation”, the second the particular notion of the marginal product of capital adopted by Malinvaud and the meaning of its equality with the rate of interest, and the third the concept of the average period of production taken by Malinvaud from Hicks and its inverse relation to the rate of interest.

• Item Type: MPRA Paper
• Language: English
• Keywords: Average period of production; Malinvaud; marginalist theory; theory of capital; Wicksell
• Subjects: D - Microeconomics > D3 - Distribution > D33 - Factor Income Distribution; B - History of Economic Thought, Methodology, and Heterodox Approaches > B1 - History of Economic Thought through 1925 > B13 - Neoclassical through 1925 (Austrian, Marshallian, Walrasian, Stockholm School); D - Microeconomics > D2 - Production and Organizations > D24 - Production ; Cost ; Capital ; Capital, Total Factor, and Multifactor Productivity ; Capacity

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