Capital and Time: A Neo-Austrian Theory

By J. R. Hicks | Go to book overview

Index
Abortive substitutions (see re-switching)
Activity analysis 7-8 , 10n.
Beach, E. F. 120n.
Boaccacio 12-13
Böhm-Bawerk, E. von 6-10 , 12-13 , 126
Capital at cost (see capital-volume)
Capital goods 3 ; specific and nonspecific 11 ; interpreted as Equipment 177
Capital invested 23-4 , 30-4
Capital-output ratio 152
Capital-value profile 18 ; proper capital-value profile 22 ; value of capital as one sense of Real Capital 152 ; practical problem of valuation 154-6 ; a forward-looking concept 158 ; shareholder's valuation 162
Capital-volume, index-number difficulty 153-4 ; interpreted as capital at cost 159 , 168-76 ; increment in capital at cost not measured by saving 174-5
Clower, R. W. 51n.
Constant returns to scale, two senses of 27
Construction period 15 ; effect of increasing labour input over 137
Convergence (see steady state)
Cost and output-capacity 93 , 192
Depreciation 85
Discrepancy 30 , 32-5 , 169-71
Dismal path 148
Early and Late Phases, defined 83 ; redefined 90 , 186-7
Efficiency curve 39 ; efficiency curve of technology 40 , 120 ; double role in steady-state theory 65 ; restricted efficiency curve 66-8 ; efficiency equation as cost equation 85-7
Elasticity of substitution 180 ; of complementarity 180-1
Equipment 177 ; old and new equipment 180 ; new equipment unsuitable as independent variable 182
Ex-ante and ex-post 14 ; ex-post income 164-6
Fixwage theory, defined 48 ; justified 49 ; further justifications, 122 , 126 , 130-2 , 167
Forward and backward biases, general definition 77 ; in terms of sectoral cost-ratios 85-6 ; strong biases 86-88 ; effect of strong bias, in fixwage theory 94 ; in full employment theory 106 , 113-15
Fresh processes 91 , 103 , 127
Friedman, M. 57 , 182n.
Full Employment theory, defined 48 ; need for assumption about expectations 55-6
Full Performance, introduced 52 ; defined 54 ; distinguished from Full Employment 55 ; appearance in Mill 59
Fundamental Theorem 19-21 , 24-6
'Golden Age' 95
'Golden Rule' 70-2
Gross concepts, belong to Simple Profile 91n. ; gross rate of interest 85 , 188 ; gross rate of growth 188
h (sectoral cost-ratio) defined 85
Harrod, R. F. 52 ; Harrod-neutrality 74-6 , 182-4
Hayek, F. A. 7 , 133 , 148
Historical cost 34
Horizontal and vertical complementarity 4
Index of Improvement, defined 75 ; in Standard Case 85 , 189 , 195-6
Interest 16 ; interest multiplier 20 ; real rate of interest 38 ; rate of interest not price of a 'factor' 39n.
Internal rate of return 22
Inventions, autonomous and induced 118-22 ; re-defined 121 ; 'Harrod' and 'Hicks' definitions of neutral invention 182-4

-211-

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Capital and Time: A Neo-Austrian Theory
Table of contents

Table of contents

  • Capital and Time iii
  • Preface v
  • Contents ix
  • Part I- Model 1
  • I- Goods and Processes 3
  • II- The Process and Its Profiles 14
  • III- Social Accounting 27
  • IV- Technique and Technology 37
  • V- Full Performance and Full Employment 47
  • VI- Steady States 63
  • II- Traverse 80
  • VII- The Standard Case and the Simple Profile 81
  • VIII- The Fixwage Path 89
  • IX- The Full Employment Path 100
  • X- Substitution 110
  • XI- Shortening and Lengthening 125
  • XII- Ways Ahead 135
  • Part III- Controversy 149
  • XIII- The Measurement of Capital—value and Volume 151
  • XIV- The Accumulation of Capital 167
  • XV- The Production Function 177
  • Appendix 185
  • Index 211
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