Crisis and embodied innovations [electronic resource] : fluctuating trend vs fluctuations around trend, the real vs the financial, variety vs average /
Ryaboshlyk, V.author.
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.
Description based upon print version of record.
Cover; Half-Title; Title; Copyright; Dedication; Contents; List of Figures; 1 Introduction; Part I Crises and Cycles Driven by Embodied Innovations: Real Aspects; 2 State of the Art Around the Innovations-Crisis Link; 2.1 Leap-like progress; 2.2 Explanation by David Ricardo: starting accumulation of new machines; 2.3 Marx and "Marxists": who has put the cart before the horse?; 2.4 Convoluted explanations by Schumpeter; 2.5 Real business cycle theory - right idea and wrong tractability; 2.6 Whether total factor productivity reflects progress; 2.7 Fluctuating trend vs fluctuations around trend
2.8 Constructive framework proposed3 The Innovations-Related Cause of Crises Confirmed by the Prototype Economy; 3.1 Global fisher folk of the twenty-first century; 3.1.1 Statement of the problem; 3.1.2 Overall slumping S-curve; 3.1.3 Multiple paths to a single finish; 3.2 Fisher folk economy vs Solow economy: golden path vs golden rate; 4 The Innovations-Related Cause of Crises Confirmed by the Concrete Economy; 4.1 Where are the data? (What are the technologies the gross capital formation forms?); 4.2 The simplest step forward
4.3 Heterogeneity matters: answering the question posed by Professor Pissarides4.4 Physical retirement of capital vs financial depreciation; 5 Empirical Support for the Presence of the Innovations-Related Cause in the Current Crisis (Non-financial Roots of the Financial Crisis); Part II Real Cyclical Dynamics in Monetary Environment; 6 Theoretical Basis to Embed the Real into the Financial: Production-Consumption Compromise vs Supply-Demand Paradigm; 6.1 Heterogeneity vs diminishing returns; 6.2 Objective marginalism: generalisation of Ricardo
6.3 Commodities produced vs commodities endowed from nowhere6.4 Production possibility frontier in an economy without capital; 6.5 Utility mountain (field of desires); 6.6 Fundamental production-consumption compromise; 6.6.1 Quantities without prices; 6.6.2 Achieving fundamental compromise in a non-market subsistence economy; 6.6.3 Achieving fundamental compromise in a market economy; 6.7 Production possibility frontier in an economy with capital; 6.8 Wage-profit compromise; 6.8.1 Not yield to formalisation; 6.8.2 How Great Plague killed off supply-demand for labour
6.9 Burnt bridges to supply-demand paradigm6.10 Connection with and evolution of welfare economics; 6.11 To be constructive; 7 Dynamics of Prices; 7.1 Dynamics without inflation; 7.2 Dynamics with inflation: non-Keynesian substantiation of the Keynesian easy money; 8 From Interest Rate to Stocks; 8.1 Interest rate for credit: savings and investment; 8.2 Leverage or gearing: stock market; Part III Precursors and Competitors; 9 Concept of Price: Aristotle vs Marshall; 9.1 Tail wags the dog; 9.2 "Time is price" supported by facts; 9.3 Sales tax vs cumulative effect
10 Starting Accumulation vs Primitive Accumulation
Includes bibliographical references and index.
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.
Economic policy.
Macroeconomics.
Economic theory.
Behavioral economics.
Economics.
Economic Policy.
Macroeconomics/Monetary Economics//Financial Economics.
Economic Theory/Quantitative Economics/Mathematical Methods.
Behavioral/Experimental Economics.
Political Economy/Economic Systems.