Linear Theory of Fixed Capital and China’s Economy

Marx, Sraffa and Okishio

Nonfiction, Social & Cultural Studies, Political Science, Politics, Economic Conditions, Business & Finance, Economics, Theory of Economics
Cover of the book Linear Theory of Fixed Capital and China’s Economy by Bangxi Li, Springer Singapore
View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart
Author: Bangxi Li ISBN: 9789811040658
Publisher: Springer Singapore Publication: March 23, 2017
Imprint: Springer Language: English
Author: Bangxi Li
ISBN: 9789811040658
Publisher: Springer Singapore
Publication: March 23, 2017
Imprint: Springer
Language: English

This book discusses both linear economic theory and its application to China's recent economy from, 1987-2000, with an emphasis on fixed capital. It starts with the development of Marx-Sraffa linear economic models with fixed capital. The author then addresses various topics, including formal explanations of Sraffa-Okishio-Nakatani’s (SON) reduction of the whole economy to its subsystem of brand-new commodities, the renewal dynamics of fixed capital and the Marx-Engles-Ruchti-Lohmann effect as well as its extension to the accelerated depreciation case; and simulations of the economic durability of fixed capital. Further, in a general joint-production system, equilibria are computed as the spectra of the matrix pencil defining the equilibrium of the systems and the so-called Cambridge equation are extended to the case of SON's economy.

By simulating the case of all final products being invested for capital goods, it estimates the fixed capital coefficients from investment data on China's economy 1995-2000. Based on this, the book describes the wage-profit curves of the open China economy. 

By applying the estimated fixed capital coefficients, the book presents the computation of the labour values of major commodities in China, and the turnpike of the stage 1995-2000, with fixed capital. It compares the value system with the production price system, and thus points out some structural issues of China's economy that are worth discussing.

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

This book discusses both linear economic theory and its application to China's recent economy from, 1987-2000, with an emphasis on fixed capital. It starts with the development of Marx-Sraffa linear economic models with fixed capital. The author then addresses various topics, including formal explanations of Sraffa-Okishio-Nakatani’s (SON) reduction of the whole economy to its subsystem of brand-new commodities, the renewal dynamics of fixed capital and the Marx-Engles-Ruchti-Lohmann effect as well as its extension to the accelerated depreciation case; and simulations of the economic durability of fixed capital. Further, in a general joint-production system, equilibria are computed as the spectra of the matrix pencil defining the equilibrium of the systems and the so-called Cambridge equation are extended to the case of SON's economy.

By simulating the case of all final products being invested for capital goods, it estimates the fixed capital coefficients from investment data on China's economy 1995-2000. Based on this, the book describes the wage-profit curves of the open China economy. 

By applying the estimated fixed capital coefficients, the book presents the computation of the labour values of major commodities in China, and the turnpike of the stage 1995-2000, with fixed capital. It compares the value system with the production price system, and thus points out some structural issues of China's economy that are worth discussing.

More books from Springer Singapore

Cover of the book Infrastructure Monitoring with Spaceborne SAR Sensors by Bangxi Li
Cover of the book Advances in Cyber Security: Principles, Techniques, and Applications by Bangxi Li
Cover of the book Detox Fashion by Bangxi Li
Cover of the book Psychoactive Drug Abuse in Hong Kong by Bangxi Li
Cover of the book Proceedings of International Conference on Wireless Communication by Bangxi Li
Cover of the book Returning to Primordially Creative Thinking by Bangxi Li
Cover of the book Theory and Technology of Rock Excavation for Civil Engineering by Bangxi Li
Cover of the book Large Floating Structures by Bangxi Li
Cover of the book Recent Advances in Mathematical Sciences by Bangxi Li
Cover of the book Computational Statics and Dynamics by Bangxi Li
Cover of the book Treatment of Non-vitamin K Antagonist Oral Anticoagulants by Bangxi Li
Cover of the book Nitrate Esters Chemistry and Technology by Bangxi Li
Cover of the book Behavioral Economics by Bangxi Li
Cover of the book The Development of Railway Technology in East Asia in Comparative Perspective by Bangxi Li
Cover of the book Teaching Methodologies in Structural Geology and Tectonics by Bangxi Li
We use our own "cookies" and third party cookies to improve services and to see statistical information. By using this website, you agree to our Privacy Policy