Value and Capital

Fülszöveg

A new edition of this standard work in which the author seeks to apply a new method of analysis to some of the more disputed questions in economics. In the first place, he constructs a general theory of the working of interrelated markets, based upon theGeneralEqui-librium theories of Walrus and Pareto, but itself a further development of these theories. The results of this are then applied to problems of Capital and Interest,ofMoney,andofEmpIoyment.
Some matters on which new light has been thrown are, the logical basis of economiclaws. Consumer's Surplus, the meaning of Equilibrium, of Income, of Saving and Investments, the determination of the system of interest rates, the period of production, wage-rigidity, the process of capital accumulation.
This book proceeds, in a single chain of argument, from the foundations of value theory to the causes of the trade cycle.
'In this book Prof. Hicks has essayed two tasks of major importance: to reduce modern economic analysis to a... Tovább

Fülszöveg

A new edition of this standard work in which the author seeks to apply a new method of analysis to some of the more disputed questions in economics. In the first place, he constructs a general theory of the working of interrelated markets, based upon theGeneralEqui-librium theories of Walrus and Pareto, but itself a further development of these theories. The results of this are then applied to problems of Capital and Interest,ofMoney,andofEmpIoyment.
Some matters on which new light has been thrown are, the logical basis of economiclaws. Consumer's Surplus, the meaning of Equilibrium, of Income, of Saving and Investments, the determination of the system of interest rates, the period of production, wage-rigidity, the process of capital accumulation.
This book proceeds, in a single chain of argument, from the foundations of value theory to the causes of the trade cycle.
'In this book Prof. Hicks has essayed two tasks of major importance: to reduce modern economic analysis to a manageable whole; and to construct a system of Economic Dynamics . . This is one of the few books which mark a stage in the advance of a science.' Economist.
'Everything Prof. Hicks writes bears the hallmark of quality, and connoisseurs will pick up his new book on Value and Capital expectmg the authentic, desiccated thrill which can be got only from the contempla-non of abstract reasoning. They will not be disappointed.' New Statesman.
THE SOCIAL FRAMEWORK An Introduction to Economics Third Edition. i8s. net
A new edition of this standard work which was first published in 1942. This second edition has been revised and brought up to date and contains three new chapters entitled: The Social Accounting System; The Social Accounts of the United Kingdom; 1938 and 1949; and a new appendix: 'On the National Balance Sheet.'
'A very useful and timely little book.' prof. G. D. H. COLE in Nature.
'This book certainly satisfies a long-felt want. It is an introduction to economics written by an economist of the highest calibre. The style is easy and popular . . . the presentation is straightforward and dignified.' r. f. harrod in the Spectator.
'A beginner coming to this book will find concepts with which he has long been familiar in a vague way clarified and given a more significant meaning, and he will also acquire a good deal of factual knowledge. Professor Hicks's experiment is an enterprising and ingenious one.' prof. a. c. pigou in the Manchester Guardian.
OXFORD UNIVERSITY PRESS
Bf the same Author
A REVISION OF DEMAND THEORY
i8i. net
The demand theory which is studied in this book is no more, in substance, than the traditional static theory of consumers' behaviour. It has been written because it has turned out that even in that field there are many new things to be said. Though the author does not accept the view on the nature of the problem which has been put forward by the 'Revealed Preference' school, he finds it possible to reformulate the older theory by the use of their methods, so as to make its most general conclusions easier to reach, and easier to appreciate when they are reached. Thus the use of calculus and of determinants can be almost wholly avoided; the argument runs throughout in terms of the most economic of mathematical operations, that which is performed every day by the shopkeeper, when he multiplies a set of quantities by a set of prices to add up a bill.
" a superb exercise of exposition.' Economist.
' . . . probably the last word there is to be said on this aspect of demand theory.' Manchester Guardian.
A CONTRIBUTION TO THE THEORY OF THE TRADE CYCLE
15i. net
The author seeks to elaborate a hypothesis which may well account for most of the common features in the business fluctuations of modern times. Keynes [has shown us why business activity varies; but he has not shown why it is that the variations tend to be cyclical in character. The explanation here advanced is based upon the so-called Acceleration Principle; but allowance is made for the consequences of this principle being at work in an advancing economy, of its being subject to complex lags, and of an asymmetry between its behaviour in booms and in slumps. Monetary disorders are viewed as a distinct cycle-making factor, which may or may not be important, but which does account for the severity of particular depressions, such as that of 1930-4.
'A beautiful theory of the cycle is here built up with an admirable economy of means. . . . Undoubtedly a tour de force.' Time and Tide.
'One of the major contributions of recent years to Trade Cycle theory.'
Scotsman.
{These prices are operative in the United Kingdom'mily and are subject to alteration without notice)
oxford university press
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