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29 Nov 2013
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£16.99
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DescriptionContentsAuthors

Originally published in 1956, The Accumulation of Capital provides a dynamic approach to the question of what determines growth and capital accumulation in the long run. Covering topics relating to finance, money and credit this work is prescient in the concerns it addresses.

The Accumulation of Capital is as relevant today as when it was first published. A true classic, it demonstrates Robinson's innovative approach to economics and her ability to embrace and extend the ideas of Marx, Keynes and Kalecki.

This re-issued classic contains a new introduction by Professor Geoff Harcourt and Prue Kerr who explore the influences of Keynes, Marx and Kaleki on this great work and examine the relevance of the growth model.


Description

Originally published in 1956, The Accumulation of Capital provides a dynamic approach to the question of what determines growth and capital accumulation in the long run. Covering topics relating to finance, money and credit this work is prescient in the concerns it addresses.

The Accumulation of Capital is as relevant today as when it was first published. A true classic, it demonstrates Robinson's innovative approach to economics and her ability to embrace and extend the ideas of Marx, Keynes and Kalecki.

This re-issued classic contains a new introduction by Professor Geoff Harcourt and Prue Kerr who explore the influences of Keynes, Marx and Kaleki on this great work and examine the relevance of the growth model.


Contents

Foreword
Introduction
PART I: INTRODUCTION
1. The Classes of Income
2. The Classes of Wealth
3. The Meaning of Money
4. Capital and Income
5. Consumption and Investment
6. The Meaning of Equilibrium
PART II: ACCUMULATION IN THE LONG RUN
7. ASimple Model
8. Section I - Accumulation with One Technique
9. Accumulation with Constant Technique
10. Technical Progress
11. Section II - The Technical Frontier
12. The Spectrum of Techniques
13. The Evaluation of Capital
14. The Technical Frontier in a Golden Age
15. Productivity and the Real Capital Ratio
16. Accumulation without Inventions
17. A Surplus of Labour
18. Section III - Accumulation and Technical Progress
19. Accumulation with Neutral Technical Progress
20. Accumulation with Biased Progress
21. Synopsis of the Theory of Accumulation in the Long Run
PART III: THE SHORT PERIOD
22. Prices and Profits
23. Wages and Prices
24. Fluctuations in the Rate of Investment
25. Cycles and Trends
PART IV: FINANCE
26. Money and Finance
27. The Rates of Interest
PART V: THE RENTIER
28. Consumption of Profits
29. Consumption and Accumulation in the Long Run
30. Rentiers and the Trade Cycle
31. Rentiers and Finance
PART VI: LAND
32. Land and Labour
33. Factor Ratios and Techniques. A Digression
34. Land and Accumulation
35. Land, Labour and Accumulation
36. Increasing and Diminishing Returns
PART VII: RELATIVE PRICES
37. Supply and Demand
PART VIII: International Trade
38. External Investment
39. International Investment
NOTES ON VARIOUS TOPICS
40. Postscript
41. The Value of Invested Capital


Authors

Joan Violet Robinson (1903 –1983) was an inspirational post-Keynesian economist who was well known for her work on monetary economics, imperfect competition and for fundamental contributions to many other areas of economics. Initially a supporter of the neoclassical school of economics, she became one its fiercest opponents after becoming acquainted with John Maynard Keynes. Joan Robinson was appointed lecturer in economics at the University of Cambridge, UK, in 1937, elected fellow of Newnham College in 1962 and assumed the position of full professor and fellow of Girton College in 1979. She was the first female fellow of Kings College. Joan Robinson's magnus opus The Accumulation of Capital was first published in 1956 and sought to extend Keynes's theory to the long-run issues of growth and capital accumulation.