rate of profit
91Classical theory of growth and stagnation — Classical economics refers to work done by a group of economists in the eighteenth and nineteenth centuries. The theories developed mainly focused on the way market economies functioned. Classical Economics study mainly concentrates on the… …
92Nobuo Okishio — (置塩 信雄?, January 2, 1927, Hyōgo ku, Kobe – November 13, 2003) was a Japanese Marxian economist and emeritus professor of Kobe University. In 1979, He was elected President of Japan Association of Economics and Econometrics, which is now… …
93Cambridge capital controversy — The Cambridge capital controversy was a 1960s debate in economics concerning the nature and role of capital goods (or means of production). The name arises because of the location of those most involved in the controversy: the debate was largely… …
94Prices of production — refers to a concept in Karl Marx s critique of political economy. It is introduced in the third volume of Das Kapital, where Marx considers the operation of capitalist production as the unity of a production process and a circulation process… …
95Transformation problem — In 20th century discussions of Karl Marx s economics the transformation problem is the problem of finding a general rule to transform the values of commodities (based on labour according to his labour theory of value) into the competitive prices… …
96capital and interest — ▪ economics Introduction in economics, a stock of resources that may be employed in the production of goods and services and the price paid for the use of credit or money, respectively. Capital in economics is a word of many meanings …
97Marxian economics — Part of a series on Marxism …
98Temporal single-system interpretation — The temporal single system interpretation (TSSI) of Karl Marx s value theory emerged in the early 1980s in response to renewed allegations that his theory was riven with internal inconsistencies, and that it must therefore be rejected or… …
99Permanent war economy — The concept of permanent war economy originated in 1944 with an article by Ed Sard (alias Frank Demby, Walter S. Oakes and T.N. Vance; he was a Trotskyist from the 1930s) who predicted a post war arms race. He argued at the time that the USA… …
100international payment and exchange — ▪ economics Introduction international exchange also called foreign exchange respectively, any payment made by one country to another and the market in which national currencies are bought and sold by those who require them for such… …
