A General Theory of the Price Level, Output, Income Distribution, and Economic Growth

By Sidney Weintraub | Go to book overview

Contents
PREFACEvii
INTRODUCTORY NOTE1
1. A NEW PREDICTIVE THEORY3

Two Tentative Laws -- The Unity of Price Level Theory and Macroeconomics -- The "Source of Inflation" -- A Word on Scientific Laws -- A Remark on the Equation of Exchange -- Price Level and the Value of Money

2. THE BASIC TRUISM9

The Analogy to the Law of Motion -- The Availability of Data -- The Task Ahead -- A Doctrinal Note

3. THE PARTITION AND MEASURE OF ELEMENTS13

Business Gross Product -- Average Compensation and Number of Employees -- Real Business Product -- The Partitioned Price Level Matrix -- The Detection of the Price Level: Checking the Formula -- A Word on Predictive Tools -- A Remark on Scientific Method

4. THE LAW OF k33

A Gravitational Constant? -- The Constancy of k -- A Curiosum -- The Comparison to Other

-ix-

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A General Theory of the Price Level, Output, Income Distribution, and Economic Growth
Table of contents

Table of contents

  • Title Page iii
  • Preface vii
  • Contents ix
  • Introductory Note 1
  • 1 - A New Predictive Theory 3
  • 2 - The Basic Truism 9
  • 3 - The Partition and Measure of Elements 13
  • 4 - The Law of k 33
  • Conclusion 43
  • 5 - The Law of the Price Level 45
  • 6 - On Predicting the Price Level 57
  • 7 - The Wedding Ceremony: Price Level and Aggregate Output 69
  • 8 - The Eclipse of the Equation of Exchange 75
  • Conclusions 83
  • 9 - A Miscast Federal Reserve 85
  • 10 - Wage Policy: A Way Out 89
  • 11 - Decomposing k 93
  • 12 - An Empirical Macroeconomic Theory of Income Distribution 105
  • 13 - A Final Price Level Generalization 109
  • 14 - The Price Level Over Time: The Final Synthesis for a Growing Economy 111
  • Conclusion 118
  • Concluding Note 119
  • Index 121
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