Ryaboshlyk Crisis And Embodied Innovations

Fluctuating Trend vs Fluctuations Around Trend, the Real vs the Financial, Variety vs Average
2014
ISBN: 978-1-137-47707-1
Verlag: Palgrave Macmillan UK
Format: PDF
Kopierschutz: 1 - PDF Watermark

E-Book, Englisch, 205 Seiten

This book introduces embodied innovations into the circle of already recognised causes of economic crises. The author shows how issues of investment, accumulation and structural change associated with embodied innovations can be used to monitor potential crisis. The author argues that crises are predictable and manageable in depth.

Autoren/Hrsg.

Ryaboshlyk, V.

Inhaltsverzeichnis

1;Cover;1
2;Half-Title;2
3;Title;4
4;Copyright;5
5;Dedication;6
6;Contents;8
7;List of Figures;11
8;1 Introduction;15
9;Part I Crises and Cycles Driven by Embodied Innovations: Real Aspects;25
9.1;2 State of the Art Around the Innovations-Crisis Link;26
9.1.1;2.1 Leap-like progress;26
9.1.2;2.2 Explanation by David Ricardo: starting accumulation of new machines;27
9.1.3;2.3 Marx and “Marxists”: who has put the cart before the horse?;29
9.1.4;2.4 Convoluted explanations by Schumpeter;30
9.1.5;2.5 Real business cycle theory – right idea and wrong tractability;32
9.1.6;2.6 Whether total factor productivity reflects progress;34
9.1.7;2.7 Fluctuating trend vs fluctuations around trend;36
9.1.8;2.8 Constructive framework proposed;39
9.2;3 The Innovations-Related Cause of Crises Confirmed by the Prototype Economy;43
9.2.1;3.1 Global fisher folk of the twenty-first century;43
9.2.1.1;3.1.1 Statement of the problem;43
9.2.1.2;3.1.2 Overall slumping S-curve;45
9.2.1.3;3.1.3 Multiple paths to a single finish;52
9.2.2;3.2 Fisher folk economy vs Solow economy: golden path vs golden rate;55
9.3;4 The Innovations-Related Cause of Crises Confirmed by the Concrete Economy;64
9.3.1;4.1 Where are the data? (What are the technologies the gross capital formation forms?);64
9.3.2;4.2 The simplest step forward;66
9.3.3;4.3 Heterogeneity matters: answering the question posed by Professor Pissarides;73
9.3.4;4.4 Physical retirement of capital vs financial depreciation;74
9.4;5 Empirical Support for the Presence of the Innovations-Related Cause in the Current Crisis (Non-financial Roots of the Financial Crisis);77
10;Part II Real Cyclical Dynamics in Monetary Environment;82
10.1;6 Theoretical Basis to Embed the Real into the Financial: Production-Consumption Compromise vs Supply-Demand Paradigm;83
10.1.1;6.1 Heterogeneity vs diminishing returns;84
10.1.2;6.2 Objective marginalism: generalisation of Ricardo;88
10.1.3;6.3 Commodities produced vs commodities endowed from nowhere;91
10.1.4;6.4 Production possibility frontier in an economy without capital;91
10.1.5;6.5 Utility mountain (field of desires);95
10.1.6;6.6 Fundamental production-consumption compromise;97
10.1.6.1;6.6.1 Quantities without prices;97
10.1.6.2;6.6.2 Achieving fundamental compromise in a non-market subsistence economy;100
10.1.6.3;6.6.3 Achieving fundamental compromise in a market economy;101
10.1.7;6.7 Production possibility frontier in an economy with capital;108
10.1.8;6.8 Wage-profit compromise;118
10.1.8.1;6.8.1 Not yield to formalisation;118
10.1.8.2;6.8.2 How Great Plague killed off supply-demand for labour;121
10.1.9;6.9 Burnt bridges to supply-demand paradigm;123
10.1.10;6.10 Connection with and evolution of welfare economics;130
10.1.11;6.11 To be constructive;136
10.2;7 Dynamics of Prices;139
10.2.1;7.1 Dynamics without inflation;139
10.2.2;7.2 Dynamics with inflation: non-Keynesian substantiation of the Keynesian easy money;146
10.3;8 From Interest Rate to Stocks;150
10.3.1;8.1 Interest rate for credit: savings and investment;150
10.3.2;8.2 Leverage or gearing: stock market;153
11;Part III Precursors and Competitors;159
11.1;9 Concept of Price: Aristotle vs Marshall;160
11.1.1;9.1 Tail wags the dog;160
11.1.2;9.2 “Time is price” supported by facts;165
11.1.3;9.3 Sales tax vs cumulative effect;168
11.2;10 Starting Accumulation vs Primitive Accumulation;171
11.3;11 Demando-Mania: Keynes and Demand-Deficient Versions of Crisis;177
11.4;12 Wage-Profit Distortions in Ireland and Ukraine;180
11.5;13 Bridges to the Cambridge Multisectoral Dynamic Model of the British Economy;183
11.6;14 Conclusion;187
12;References;190
13;Index;200