The Economics of Industrial Society

Author： Michio Morishima  

Publisher： Cambridge University Press‎

Publication year： 1985

E-ISBN: 9780511869587

P-ISBN(Paperback): 9780521318235

Subject： F0 Economics

Keyword： 经济学

Language： ENG

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The Economics of Industrial Society

Description

This book is a stimulating and original introduction to the economics of industrial society. It is intended for use as a student text, but will also be of interest to all those - whether students or teachers - looking for new ways of understanding the economic problems of industrialised countries. It provides an effective critique of current economic theories, and develops an original model of the economics (whether neo-classical, Marxist, or Keynesian) of modern industrial society. Throughout the book the analysis is oriented towards the solution of problems in the real world, and towards explaining the operation of economic institutions in different countries. The work looks at the way individual markets operate, the determination of foreign exchange rates, the problem of unemployment, and the fiscal and monetary policies needed to tackle unemployment. This book analyses the case of an industrial country entirely dependent on other countries for its raw materials.

Chapter

Cover

Half-title

Title

Copyright

Contents

Preface

Introduction

1 Which economics?

2 The outline of this book

PART ONE THE FORMATION OF PRICES

1 Markets and the price mechanism

1 How are prices determined?

2 The structure of auctions

3 Formulations of economists

4 The existence of equilibrium

5 Determining production prices

6 Two types of market economy

2 The function of exchanges

1 The multilayered structure of market economies

2 Interrelationship of demands and supplies within a single exchange

3 Price repercussions amongst substitutive goods

4 Price repercussions between different exchanges

5 Futures markets

3 Fixing product prices

1 More on the full-cost principle

2 The period of production and hedging

3 Equilibrium production prices and their movement

4 The traditional theories: the marginal productivity theory and the labour theory of value

5 How should we treat the traditional theories of the firm?

4 Determination of foreign exchange rates

1 The century of internationalism

2 The effects of fluctuations in foreign exchange rates

3 How exchange rates are determined (I)

4 How exchange rates are determined (II)

5 Changes in exchange rates

6 The futures market

PART TWO THE WORKING OF THE NATIONAL ECONOMY

5 The modern industrial society

1 An outline of the model

2 The structure of the model (I)

3 The structure of the model (II)

4 Equilibrium in real commodity markets - the principle of effective demand

5 The structure of the financial sector

6 Equilibrium on financial markets - the determining of the interest rates

6 Is full employment possible?

1 The labour market

2 Labour unions

3 Unemployment (I): Marx

4 Unemployment (II): Keynes and the classical school

5 Wages and unemployment

6 Labour and machinery

7 Fiscal policy

1 The investment multiplier

2 The effect of fiscal expenditures

3 The effects of a reduction in taxation

4 The multiplier effect of balanced budgeting

8 Monetary policy

1 Credit and business stimulation

2 Deflation and inflation

3 The roles of the central bank and the exchange stabilization fund

4 The Wicksellian cumulative process

Additional notes

Exercises

Index

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