Knowledge that Transforms

I. The industry, 406. — II. The process of innovation, 409. — III. A theory of innovation, 415.

Introduction, 56. — I. The “ideal” criterion under perfect competition, 57. — II. Capital rationing: the SMP criterion in a closed economy, 59; correcting market prices to reflect social values, 60; the interest rate in the SMP criterion, 63. — III. Modifying the rate of capital accumulation: the MGC criterion, 65. — IV. The interest rate in development planning, 74. — V. Some extensions of the analysis, 79; the optimal interest rate for the SMP criterion, 79; multiple rationing: investment criteria in the open economy, 81. — VI. Some limitations of the analysis, 83; population still an exogenous variable, 83; income distribution assumed satisfactory, 83. — VII. Concluding comments, 84.

Introduction, 86. — I. The relation between “the” capital-output ratio, the marginal product of capital, and “the” interest rate, 86. — II. From the capital-output ratio and the interest rate to innovations by way of income-shares and factor-proportions, 93. — III. Choosing the input-mix: are capital-intensive processes desirable where capital is scarce relative to labor? 95. — IV. Some comments on difficulties with the capital-output ratio; on distribution, saving and input-allocation; on theorizing about allocation and growth, 101.

I. Introduction, 611. — II. The four meanings of Say's Law, 614. — III. Marx on Say's Law as the circular flow, 616. — IV. The equality of aggregate demand and supply and the “money veil”; Marx's answer to Say's Law, 618. — V. Marx's view of partial overproduction and the general glut, 623. — VI. Accumulation of capital and economic development; Marx's alternative to Say's Law and the classical system, 625.

I. The claim to consideration, 546; four striking features of the findings, 547. — II. The fit to time series, 548; results depend on historical rates of growth, 550. — III. The fit to cross sections, 552; the effect of predominantly equal proportionate changes in labor-force, capital, and net value product between one industry and another, 553; a systematic relation between interindustry differences in net value product and those in the proportionate combination of factors, 555; its possible explanation, 556. — IV. Conclusion, 558.

I. Introduction, 368. — II. Pre-Soviet history, 369. — III. Early Soviet projects, 372. — IV. The Combine controversy, 375. — V. Implementation: 1928–1937, 378. — VI. De-emphasis on the Combine, 1937–1955, 383. — VII. The Sixth Five Year Plan, 1956–1960, 387. — VIII. Criteria of evaluation, 389. — IX. Evaluation of the Combine, 395. — X. Summary, 403.

I. Introduction, 171. — II. Two recent institutional changes, 173; the federal funds market, 173; the financing of government bond houses: sale and repurchase agreements with nonfinancial corporations, 176. — III. Implications of these changes for monetary policy, 181. — IV. Implications of the expectation that institutions will change, 185.

I. The elements of term structure theory, 489. — II. The role of debt liquidity differences in the rate structure, 491. — III. The role of speculative activity in the term structure, 496. — IV. Changes in the maturity structure of demand for funds, 502. — V. Yields on short-term and long-term U. S. government securities 1920–1957, 504. — VI. Some implications for credit policy, 516.

Introduction, 585. — I. Solution of the two period peak load problem under simplifying assumptions, 587. — II. Relation of the solution to some earlier contributions, 592. — III. Can purely cost-based prices be used to achieve optimal results?, 596. — IV. Some policy implications, 602. — Mathematical Appendix, 604.

Reviews the book "Foundations of Productivity Analysis: Guides to Economic Theory and Managerial Control," by Bela Gold.