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Capital and TimeA Neo-Austrian Theory$
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J. R. Hicks

Print publication date: 1987

Print ISBN-13: 9780198772866

Published to Oxford Scholarship Online: November 2003

DOI: 10.1093/0198772866.001.0001

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The Accumulation of Capital

The Accumulation of Capital

(p.167) XIV The Accumulation of Capital
Capital and Time

John Hicks

Oxford University Press

The idea of a capital aggregate was not really used in Part II of this book. This chapter looks at what would happen if capital aggregates were used; or at least to examine what would have happened to the aggregates in the course of the Traverse. This is an exercise that can be performed on the model, taking it quite strictly, with all its assumptions intact. Since the path of the economy was fully determined by the book's previous analysis, no difference can be made to the earlier results by this re-statement. These are merely be placed in a different way, so as to make them more comparable with the results reached by others.

Keywords:   capital aggregates, Traverse, assumptions, results

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