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Focusing on the intersection of linear economic theory and China's economy from 1987 to 2000, this book delves into Marx-Sraffa models with an emphasis on fixed capital. It explores the Sraffa-Okishio-Nakatani reduction method, renewal dynamics of fixed capital, and the Marx-Engles-Ruchti-Lohmann effect. The author computes equilibria in a joint-production system and extends the Cambridge equation, while also simulating investment scenarios to estimate fixed capital coefficients, ultimately detailing the wage-profit curves in China's open economy.
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Linear Theory of Fixed Capital and China's Economy, Bangxi Li
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- 2017
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