Chapter

Technique and Technology

John Hicks

in Capital and Time

Published in print October 1987 | ISBN: 9780198772866
Published online November 2003 | e-ISBN: 9780191596414 | DOI: http://dx.doi.org/10.1093/0198772866.003.0004
 Technique and Technology

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Social accounting is concerned only with values; it is not concerned with the quantities which these values represent, nor (in consequence) with price per unit of quantity. Thus, we could deal with the accounting matters, which were the sole concern in Chapter 3, without making any assumption about physical homogeneity. This chapter attempts to set the economic model to work by introducing the standard simplifications of modern growth theory — taking the price-system, in particular, in the simplest possible terms.

Keywords: social accounting; economic model; value; modern growth theory; price-system

Chapter.  3921 words.  Illustrated.

Subjects: Macroeconomics and Monetary Economics

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