商品簡介
This book presents an in-depth, novel, and mathematically rigorous treatment of the modern classical theory of structure and dynamics of prices and income distribution. That treatment is based on the spectral analysis of the price–profit–wage rate system. Furthermore, the book subjects that theory to empirical testing to show its logical consistency and explanatory content with respect to observed phenomena and to reveal its relevance to some economic policy issues. In this context, there is an examination of the trajectories of relative prices when the distributive variables change, both theoretically and empirically, using actual input–output data from a number of quite diverse economies. It is suggested that the actual economies do not behave like the parable of a “one-commodity world” of the old, neoclassical capital theory or, with some exceptions, of the “new (endogenous) growth” literature, both of which theorize the relative scarcities of commodities as the fundamental determinants of relative prices and their movement.
