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The Place of Money Capital in the Theory of Production

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  • André Gabor
  • I. F. Pearce

Abstract

I. Outline of the problem of capital and of the need to reconcile its treatment by Austrian and neoclassical theorists, as also to establish a link between economics and accountancy practice, 537. — II. Introduction to the concept of the money capital requirement function and the criteria of profit rate maximization, 540. — III. Synthesis of divergent theories by full development of a new generalized money capital requirement function, 544. — IV. Comparison of the results here obtained with those of neoclassical theory, 555. — V. Summary, 557. "Capital is not in the technical sense just another factor juxtaposited with the primary factors, but rather a new dimension on each of the primary factors." (Ragnar Frisch.)

Suggested Citation

  • André Gabor & I. F. Pearce, 1958. "The Place of Money Capital in the Theory of Production," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 72(4), pages 537-557.
    • Handle: RePEc:oup:qjecon:v:72:y:1958:i:4:p:537-557.
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    File URL: http://hdl.handle.net/10.2307/1884335
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    Cited by:

    1. Diewert, W. Erwin & Fox, Kevin J., 2019. "Money and the Measurement of Total Factor Productivity," Journal of Financial Stability, Elsevier, vol. 42(C), pages 84-89.
    2. Kirsten Foss & Nicolai J. Foss & Peter G. Klein, 2006. "Original and Derived Judgment An Entrepreneurial Theory of Economic Organization," DRUID Working Papers 06-09, DRUID, Copenhagen Business School, Department of Industrial Economics and Strategy/Aalborg University, Department of Business Studies.

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