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The reswitching of techniques and its epistemological implications: a deepening of criticism

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  • Alain Herscovici

Abstract

This paper aims (a) to explain the mechanisms from which the problem ofreswitching of techniques is formulated and (b) to analyze the implications with regard tothe general architecture of neoclassical macroeconomics. I will show how these elementsallow refuting the neoclassical theory of income distribution, and why they translate intostructural instability. In the first part, I will explain the mechanisms that correspond tothe problem of reswitching of techniques; in the second part, I will study the implicationslinked to the reswitching, with regard to the determinants of income distribution and theequilibrium stability. JEL Classification: B41; E11; E13.

Suggested Citation

  • Alain Herscovici, 2021. "The reswitching of techniques and its epistemological implications: a deepening of criticism," Brazilian Journal of Political Economy, Center of Political Economy, vol. 41(4), pages 797-814.
    • Handle: RePEc:ekm:repojs:v:41:y:2021:i:4:p:797-814:id:2265
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    Keywords

    Reswitching of techniques; rent distribution; structural instability;
    All these keywords.

    JEL classification:

    • B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology
    • E11 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Marxian; Sraffian; Kaleckian
    • E13 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Neoclassical

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