By V. Ryaboshlyk
This publication introduces embodied techniques into the circle of already acknowledged motives of monetary crises. the writer exhibits how problems with funding, accumulation and structural swap linked to embodied strategies can be utilized to observe strength concern. the writer argues that crises are predictable and conceivable extensive.
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Additional resources for Crisis and Embodied Innovations: Fluctuating Trend vs Fluctuations Around Trend, the Real vs the Financial, Variety vs Average
But this dubious proposal looks as if astronomers searched for the best equation of an ellipse instead of the underlying law governing the orbits. Moreover, there are some exceptions , as well. Yet, the S-shape is still exogenously imposed on the changing input-output coefficients, see Pan (2006), Pollitt et al. (2014). So, in addition to the theory of technological evolution, our analysis has endogenously generated an S-shaped curve of the spread of an innovation without any exogenous imposition of such a shape.
T]his decisive problem of combining short-, medium-, and long-run macroeconomics ... still has not yet been solved, and probably will not be solved in the near future”, states Hagemann (2009). It seems that this “near future” has already come, at least, regarding short and medium runs. Now let us examine what the fisher folk economy would look like through the lenses of the Solow (1956, 1957) economy, the main representative of the long-run analysis. Since the labour force of fisher folk is constant (of zero growth rate), it will be an analysis of an essentially intensive growth where the growth of the economy is identical with growth of productivity.
While in the fisher folk one, all the paths gravitate to a unique steady state determined by the parameters of new technology(ies). This is because the fisher folk economics provides the substituting capital for labour within the context of substituting new technology for old. At that, fisher folk has fixed the problem of fixed proportions without complete rejection of the proportions as such; namely, by an explicit reflection of the fixed proportions required by old and by new technologies respectively.