© 1997

Normal Prices, Technical Change and Accumulation


Part of the Studies in Political Economy book series (STPE)

Table of contents

  1. Front Matter
    Pages i-xv
  2. Introduction: Sraffa’s Theory Today

    1. Bertram Schefold
      Pages 1-18
  3. General Properties of Single and Joint Production Systems

  4. The Dominant Technique

    1. Front Matter
      Pages 99-99
    2. Bertram Schefold
      Pages 101-134
    3. Bertram Schefold
      Pages 197-208
  5. Fixed Capital and Technical Progress

  6. The Composition of Output

    1. Front Matter
      Pages 289-289
    2. Bertram Schefold
      Pages 291-316
    3. Bertram Schefold
      Pages 317-356
  7. Relations between Classical, Neoclassical and Keynesian Theories

    1. Front Matter
      Pages 357-357

About this book


This book presents the most significant theoretical articles by Bertram Schefold to illuminate the development and the present state of modern classical theory. It assembles twenty heavily discussed papers on joint production and fixed capital, choice of technique and technical progress, composition of output and the relation between classical, neoclassical and keynesian economics. There is a broad new introduction. The chapter on the critique of intertemporal general equilibrium is novel and represents an original theoretical advance.


economics equilibrium general equilibrium growth John Maynard Keynes Keynes Keynesian economics production Schumpeter

Authors and affiliations

  1. 1.Johann Wolfgang Goethe-UniversitätFrankfurt am MainGermany

About the authors

BERTRAM SCHEFOLD is Professor of Economics at the Johan Wolfgang Goethe University in Frankfurt am Main. He has held numerous visiting appointments. His publications include books and articles in German, English, French and Italian, primarily on economic theory, economics of energy and of the environment, and on the history of economic thought.

Bibliographic information