Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/277480 
Year of Publication: 
2020
Citation: 
[Journal:] European Journal of Economics and Economic Policies: Intervention (EJEEP) [ISSN:] 2052-7772 [Volume:] 17 [Issue:] 2 [Year:] 2020 [Pages:] 220-240
Publisher: 
Edward Elgar Publishing, Cheltenham
Abstract: 
The paper summarises the main results of the Cambridge controversy on capital theory and discusses its actual relevance. The paradoxes that had first been regarded as most relevant (reswitching and reverse capital deepening) have turned out to be empirically rare, and this can be explained theoretically, but both neoclassical and anti-neoclassical Wicksell effects are ubiquitous. The number of efficient techniques that turn up on the envelope of the wage curves of a spectrum of techniques can be shown to be quite small both empirically and theoretically, which constitutes a new critique. It has implications for employment policies.
Subjects: 
capital theory
production function
reswitching
Sraffa
employment
JEL: 
B24
C62
C67
D57
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article

Files in This Item:
File
Size





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.