Production is a Circular Process. The Reasons for an Alternative Approach to Economic Theory

Enrico Bellino*

*Corresponding author

Research output: Contribution to journalArticle

Abstract

This paper reviews the main logical difficulties of the neoclassical analysis of production and income distribution when ‘capital’ is introduced. Both the version of the theory that considers capital as a single magnitude and the one where it is constituted by a set of capital goods are presented in a unified analytical framework. The same framework is then used to provide an alternative approach to production and distribution which reconnects with the modern classical approach.
Original languageEnglish
Pages (from-to)19-34
Number of pages16
JournalRivista Internazionale di Scienze Sociali
Volume2023
DOIs
Publication statusPublished - 2023

Keywords

  • General equilibrium with capitalistic production
  • capital
  • capital critique
  • modern classical approach
  • Wicksell
  • Hicks
  • neo-Walrasian approach
  • Walras

Fingerprint

Dive into the research topics of 'Production is a Circular Process. The Reasons for an Alternative Approach to Economic Theory'. Together they form a unique fingerprint.

Cite this