Price Flexibility and Employment
by Oskar Lange
Publisher: Principia Press 1944
Number of pages: 119
Contents: Introduction; Partial-Equilibrium Theory; General-Equilibrium Theory; Analysis of the Monetary Effect; Price Expectations; Uncertainty; Imperfect Competition; International Trade; Changes in the Propensity to Consume; Capital Accumulation and Investment Opportunities; Innovations; The Problem of Policy.
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This is an informal and revealing introduction to the ideas of modern systems theory and self-organization as they apply to problems in the economic realm. David Batten interleaves anecdotes and stories with technical discussions.
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This book develops a consistent theory of evolution in its wider sense. The author of the book traces a continuous line of evolving information sets that connect the Big-Bang to the firms and markets of our current socio-economic system.
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In his lecture, Professor Marschak has set himself the task of incorporating the new developments in monetary theory and presenting them in a logical, precise and rigorous manner. He reveals the precise nature of the new analytical equipment.
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