Chapter

The Accumulation of Capital

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/10.1093/0198772866.003.0014
 The Accumulation of Capital

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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

Chapter.  4334 words. 

Subjects: Macroeconomics and Monetary Economics

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