Dilemmas and Solutions in the Cambridge Capital Debate: A Dynamic Adjustment Analysis of Capital and Income Distribution Theory

Author: Lu Changping
Publisher:
Publish Date: 2005-12-01
Features: The core of this book is the determination of income distribution and relative prices. The starting point of the research is the "Cambridge Capital Debate" since the 1950s, which clarifies the logical "paradox" in the neoclassical tradition—such as capital measurement and technical reconversion issues—specifically the understanding of the relationship between uniform interest rates and differential interest rates. The solution to this problem lies in using a dynamic adjustment analytical framework to re-describe the intersection point of differential interest rates and uniform interest rates, thereby demonstrating the dual relationships among income distribution, relative prices, and technological choices. The core of this book is the determination of income distribution and relative prices. The starting point of the research is the "Cambridge Capital Debate" since the 1950s, which clarifies the logical "paradox" in the neoclassical tradition—such as capital measurement and technical reconversion issues—specifically the understanding of the relationship between uniform interest rates and differential interest rates. The solution to this problem lies in using a dynamic adjustment analytical framework to re-describe the intersection point of differential interest rates and uniform interest rates, thereby demonstrating the dual relationships among income distribution, relative prices, and technological choices.