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  1. Home
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  3. Theory of Production
  • Cited by 379
Publisher:
Cambridge University Press
Online publication date:
January 2010
Print publication year:
1995
Online ISBN:
9780511625770
DOI:
https://doi.org/10.1017/CBO9780511625770
Subjects:
Economics, Industrial Economics, Macroeconomics
Information

Book description

This compelling book contains a comprehensive analytical treatment of the theory of production in a long-period framework. Although the authors take a 'Classical' approach to their subject, the scope of investigation and methods employed should interest all economic theorists. Professors Kurz and Salvadori explore economic systems that are characterised by a particular kind of primary input in the production process, such as different kinds of labour and natural resources. These systems and the corresponding prices can be understood to reflect characteristic features of a capitalist market economy in an ideal way: they express the pure logic of the relationship between value and distribution in an economic system. Specific chapters deal with prices and income distribution, economic growth, joint production, fixed capital, scarce natural resources (both renewable and exhaustible), and heterogeneous labour. The historical origins of the concepts used are also discussed in considerable detail.

Reviews

‘The Theory of Production is a tour de force that provides a needed authoritative survey of modern competitive theory on technology and prices. It seems a golden mean between mathematical complexities, policy alternatives, and historical geneses. I expect to wear out a copy every two years from extensive use.’

Paul A. Samuelson - MIT

‘The Theory of Production is a remarkably clear and precise statement of linear economic theory post-Sraffa. The sound analytical work is complemented by substantial historical notes in most chapters and the work is a pleasure to read.’

Ivan Steedman - University of Manchester

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