{"product_id":"9789811040641","title":"Linear Theory of Fixed Capital and China’s Economy: Marx, Sraffa and Okishio","description":"\u003ch1\u003eLinear Theory of Fixed Capital and China’s Economy: Marx, Sraffa and Okishio\u003c\/h1\u003e \u003ch2\u003eLi, Bangxi\u003c\/h2\u003e \u003cp\u003e\u003c\/p\u003e\u003cdiv\u003eThis book discusses both linear economic theory and its application to China's recent economy from, 1987-2000, with an emphasis on fixed capital. It starts with the development of Marx-Sraffa linear economic models with fixed capital. The author then addresses various topics, including formal explanations of Sraffa-Okishio-Nakatani’s (SON) reduction of the whole economy to its subsystem of brand-new commodities, the renewal dynamics of fixed capital and the Marx-Engles-Ruchti-Lohmann effect as well as its extension to the accelerated depreciation case; and simulations of the economic durability of fixed capital. Further, in a general joint-production system, equilibria are computed as the spectra of the matrix pencil defining the equilibrium of the systems and the so-called Cambridge equation are extended to the case of SON's economy.\u003c\/div\u003e\u003cdiv\u003eBy simulating the case of all final products being invested for capital goods, it estimates the fixed capital coefficients from investmentdata on China's economy 1995-2000. Based on this, the book describes the wage-profit curves of the open China economy. \u003c\/div\u003e\u003cdiv\u003e\u003cbr\u003e\u003c\/div\u003e\u003cdiv\u003eBy applying the estimated fixed capital coefficients, the book presents the computation of the labour values of major commodities in China, and the turnpike of the stage 1995-2000, with fixed capital. It compares the value system with the production price system, and thus points out some structural issues of China's economy that are worth discussing.\u003c\/div\u003e\u003cdiv\u003e\u003cbr\u003e\u003c\/div\u003e \u003ch3\u003eDetails\u003c\/h3\u003e \u003cp\u003ePublished by: Springer\u003c\/p\u003e \u003cp\u003ePublication Date: 2017-03-30\u003c\/p\u003e \u003cp\u003eFormat: Hardcover\u003c\/p\u003e \u003cp\u003eISBN-13: 9789811040641\u003c\/p\u003e \u003cp\u003eDOI: 10.1007\/978-981-10-4065-8\u003c\/p\u003e \u003cp\u003eDimensions: 235cm x155cm\u003c\/p\u003e \u003cp\u003ePages: 122\u003c\/p\u003e ","brand":"Springer Nature Singapore","offers":[{"title":"Default Title","offer_id":47521194508428,"sku":"9789811040641","price":89.99,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0710\/9545\/1788\/files\/9789811040641.jpg?v=1776010424","url":"https:\/\/fh90cf-fv.myshopify.com\/products\/9789811040641","provider":"Late Knight Books and Services, LLC","version":"1.0","type":"link"}