{"product_id":"capital-and-credit","title":"Capital and Credit","description":"\u003cp\u003eContemporary general equilibrium theory is characteristically short-run, separated from monetary aspects of the economy, and as such does not deal with long-run problems such as capital accumulation, innovation, and the historical movement of the economy. These phenomena are discussed by growth theory, which assumes a given or shifting production function, and in turn cannot therefore deal with the fundamental problem of growth, namely how the production function is derived. Thus traditional theories have a common weakness in that they divorce real economic growth from the activities of the financial sector. This book provides a much-needed synthesis of growth theory and monetary theory. Professor Morishima draws on the work of Schumpeter, Keynes and the pre-war neoclassical economists to formulate a capital-theoretic general equilibrium theory.\u003c\/p\u003e","brand":"Cambridge University Press","offers":[{"title":"Default Title","offer_id":46647387488494,"sku":"9780521418409","price":169.32,"currency_code":"AUD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0630\/9612\/7726\/files\/9780521418409.jpg?v=1750170853","url":"https:\/\/bookland.com.au\/products\/capital-and-credit","provider":"Book Land AU","version":"1.0","type":"link"}