Profits in Economic Theory

Front Matter....Pages i-x
Front Matter....Pages 1-1
Profit in Economic Theory....Pages 3-8
Front Matter....Pages 9-9
Characteristics of Surplus Theory....Pages 11-16
Classical Analysis of Surplus and Profit....Pages 17-25
Marxian Analysis of Surplus and Profit....Pages 26-36
Sraffa’s Analysis of Surplus and Profit....Pages 37-46
A Sraffian Critique of Classical Profit Theory....Pages 47-58
A Sraffian Critique of Marxian Profit Theory....Pages 59-66
Post-Sraffian Developments in the Surplus Approach to Profits....Pages 67-70
Front Matter....Pages 71-71
Characteristics of Supply and Demand Analysis....Pages 73-77
Walrasian Intertemporal Theory: Profit, Tastes and Technology....Pages 78-92
Austrian Capital Theory: Profit and ‘Roundabout’ Production....Pages 93-102
The Neoclassical Theory of Capital Productivity: Profit determined by the Supply of and the Demand for Capital....Pages 103-110
Pure Profit: Innovation, Uncertainty and Market Power....Pages 111-127
Front Matter....Pages 129-129
Supply and Demand Theories of Profit: A Critique from the Perspective of Surplus Theory....Pages 131-146
Surplus Theories of Profit: A Critique from the Perspective of Supply and Demand Theory....Pages 147-155
Front Matter....Pages 157-157
Profit and Effective Demand....Pages 159-163
Effective Demand....Pages 164-177
Effective Demand and Profit in the Short Period....Pages 178-183
Effective Demand and Profit in the Long Period....Pages 184-192
Front Matter....Pages 193-193
Some Loose Ends....Pages 195-204
Back Matter....Pages 205-225