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Malinvaud on Wicksell’s legacy to capital theory: some critical remarks

  • Fratini, Saverio M.

This critique of Malinvaud’s article of 2003 on Wicksell’s legacy to capital theory focuses in particular on three points raised there. The first regards the given amount of existing capital that appears in Wicksell’s theory and its connection with his alleged “missing equation”, the second the particular notion of the marginal product of capital adopted by Malinvaud and the meaning of its equality with the rate of interest, and the third the concept of the average period of production taken by Malinvaud from Hicks and its inverse relation to the rate of interest.

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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 39574.

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Date of creation: 20 Jun 2012
Date of revision:
Handle: RePEc:pra:mprapa:39574
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  1. Heinz D. Kurz, 2000. "Wicksell and the Problem of the "Missing" Equation," History of Political Economy, Duke University Press, vol. 32(4), pages 765-788, Winter.
  2. Fratini, Saverio M., 2009. "Reswitching And Decreasing Demand For Capital," MPRA Paper 13389, University Library of Munich, Germany.
  3. Saverio M. Fratini, 2014. "The Hicks-Malinvaud average period of production and 'marginal productivity': A critical assessment," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 21(1), pages 142-157, February.
  4. repec:cup:cbooks:9780521443258 is not listed on IDEAS
  5. Swan, Trevor W, 2002. "Economic Growth," The Economic Record, The Economic Society of Australia, vol. 78(243), pages 375-80, December.
  6. Kurz, Heinz D. & Salvadori, Neri, 2001. "The aggregate neoclassical theory of distribution and the concept of a given value of capital: a reply," Structural Change and Economic Dynamics, Elsevier, vol. 12(4), pages 479-485, December.
  7. Potestio, Paola, 1999. "The aggregate neoclassical theory of distribution and the concept of a given value of capital: towards a more general critique," Structural Change and Economic Dynamics, Elsevier, vol. 10(3-4), pages 381-394, December.
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