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Capital and Knowledge: Dynamics of Economic Structures with Non-Constant Returns [Hardcover]

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Item description for Capital and Knowledge: Dynamics of Economic Structures with Non-Constant Returns by Wei-Bin Zhang...

This book constructs a general economic theory to analyze how different economic forces interact over time. It proposes some new combinations of various economic forces which may function at various stages of social and economic evolution. The theory includes the main economic ideas of Smith, Malthus, Ricardo, Marx, Mills, Walras, Marshall, Schumpeter and Keynes. It also includes, as special cases, the well-established mathematical models, such as the Arrow-Debreu general equilibrium model, the Tobin model, the Solow-Swan-Uzawa growth model, the Kaldor-Pasinetti two-class model, the Ricardian models by Morishima, Samuelson and Pasinetti, Keynesian theory, to explain certain economic phenomena which cannot be explained by traditional works.



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Item Specifications...


Pages   431
Est. Packaging Dimensions:   Length: 9.3" Width: 6.1" Height: 1.2"
Weight:   1.65 lbs.
Binding  Hardcover
Release Date   Feb 22, 1999
Publisher   Springer
ISBN  3540651349  
ISBN13  9783540651345  


Availability  115 units.
Availability accurate as of Mar 23, 2017 04:15.
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More About Wei-Bin Zhang


Register your artisan biography and upload your photo! Zhang is Associate Professor at the Institute for Futures Study, Stockholm, Sweden.

Wei-Bin Zhang was born in 1961.

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Product Categories

1Books > Special Features > New & Used Textbooks > Business & Finance > Economics
2Books > Special Features > New & Used Textbooks > Business & Finance > Finance
3Books > Special Features > New & Used Textbooks > Social Sciences > Sociology
4Books > Subjects > Business & Investing > Economics > General
5Books > Subjects > Business & Investing > Finance
6Books > Subjects > Business & Investing > General
7Books > Subjects > Nonfiction > Social Sciences > Sociology > General
8Books > Subjects > Professional & Technical > Accounting & Finance > Finance > General



Reviews - What do customers think about Capital and Knowledge: Dynamics of Economic Structures with Non-Constant Returns?

Capital, Knowledge, and economic performance of nations  Sep 9, 2007
This book is a courageous effort, not only in the difficult topics it deals with, but also in its attempt to unify competing economic models and theories. The preface of the book shows that the author is aware of the challenge his or her ideas may face, and brilliantly invokes Schumpeter, Keynes, and even Confucius. Judging from the amount of self-reference, it is also clear that the evolution of the book has been long and painstaking.

The results of that evolution include that the fact that the first three chapters are well done and represent valuable reference for graduate students in growth and development economics. However, while each chapter demonstrates innovative and rigorous use and (re)interpretation of various neoclassical economic theories and models, a new theory does not seem to have arisen from this writing. Consequently the "grand vision" intended by "a long and laborious process to systematize the ideas presented in this book" is blurry.

I would fault the eclectic approach adopted than the ideas presented themselves. Clearly the interactions between capital and knowledge are known to exist and it is refreshing that someone has made a credible effort to explaining them. Even so, the clarity of the ideas which Capital and Knowledge seeks is marred by too many silly tpyos and grammatical errors. For instances, in "... we provide a few examples of economic dynamics to show how sensible nonlinear dynamic systems are ..."(p.14), one can easily see that "sensible" refers to "sensitive" - or does it? But encountering similar stuff again and again is ultimately discouraging. Second, I find it hard to believe that the book calls a TV set capital. When used solely to receive knowledge at home through say a long distance training program, a TV set may be counted as capital. But does it suddenly becomes a consumer good when the study program is over and a movie comes on? More needed said about things like that.

Third, other poor choice of words are more serious and could provoke unnecessary criticism. For example, to say that "an increase in the total capital stock increases the capital stock employed in the industrial production", is a triple falacy of composition, false cause, and false effect. I see more double counting of capital than causation in the statement just cited.

Capital and Knowledge is a good book that could have been better with careful editing - 5 stars for content + 4 stars for exposition.

Amavilah, Author
Modeling Determinants of Income in Embedded Economies
ISBN: 1600210465

 
Capital and Knowledge  Dec 4, 2000
This books is a courageous effort, not only in the difficult topics it deals with, but also in its attempt to unify competing economic models and theories. The preface of the book shows that the author is aware of the challenge his or her ideas may face, and brilliantly invokes Schumpeter, Keynes, and even Confucius. Judging from the amount of self-reference, it is also clear that the evolution of the book has been long and painstaking.

The results of that evolution include that the fact that first three chapter are well done and represent valuable reference for graduate students in economics. However, while each chapter demonstrates innovative and rigorous use and (re)interpretation of various neoclassical economic theories and models, a new theory does not seem to have arisen from this writting. Consequently the "grand vision" intended by "a long and laborious process to systematize the ideas presented in this book" is blurry.

I would fault the eclectic approach adopted than the ideas presented themselves. Clearly the interactions between capital and knowledge are known to exist and it is refreshing that someone has made a credible effort to explaining them. Even so, the clarity of the ideas which Capital and Knowledge is marred by too many silly tpyos and grammatical errors. For instances. in "... we provide a few examples of economic dynamics to show how sensible nonlinear dynamic systems are ..."(p.14), one can easily see that "sensible" refers to "sensitive". But encountering similar stuff again and again is ultimately discouraging. Second, I find it hard to believe that the book calls a TV set capital. When used solely to receive knowledge at home through say a long distance training program, a TV set may be accounted as capital. But does it suddenly becomes a consumer good when the study program is over and a movie comes on? More needed said about things like that.

Third, other poor choice of words are more serious and could provoke unnecessary criticism. For example, to say that "an increase in the total capital stock increases the capital stock employed in the industrial production", is a triple falacy of composition, false cause, and false effect. I see more double counting of capital than causation in the statement just cited.

Capital and Knowledge is a good book that could have been better with careful editing.

 

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