Skip Navigation

This Article
Right arrow Full Text (PDF)
Right arrow Alert me when this article is cited
Right arrow Alert me if a correction is posted
Services
Right arrow Email this article to a friend
Right arrow Alert me to new issues of the journal
Right arrow Add to My Personal Archive
Right arrow Download to citation manager
Right arrowRequest Permissions
Google Scholar
Right arrow Articles by Okishio, N.
Right arrow Search for Related Content
Related Collections
Right arrow C62 - Existence and Stability Conditions of Equilibrium
Right arrow D50 - General
Right arrow E00 - General
Social Bookmarking
Add to CiteULike   Add to Connotea   Add to Del.icio.us  
What's this?

Cambridge Journal of Economics 25:493-501 (2001)
Copyright © 2001 Cambridge Political Economy Society

Article

Competition and production prices

Nobuo Okishio

2-1-2-1108 Ibukidae Higashi machi, Nishi, Kobe 651-2242, Japan

Abstract

My theorem, the so-called Okishio theorem, is a comparative statics result. Therefore, it has no realistic meaning if capitalists' competition does not establish a new equilibrium following the introduction of a new production method. Marx firmly believed that a new equilibrium was established. In this paper, we investigate the capitalist process without technical change. If we choose the proper parameters and initial conditions, all profit rates converge to zero, Schumpeter's result.

Key Words: Okishio's theorem • Competition • Production prices


Add to CiteULike CiteULike   Add to Connotea Connotea   Add to Del.icio.us Del.icio.us    What's this?




Disclaimer:
Please note that abstracts for content published before 1996 were created through digital scanning and may therefore not exactly replicate the text of the original print issues. All efforts have been made to ensure accuracy, but the Publisher will not be held responsible for any remaining inaccuracies. If you require any further clarification, please contact our Customer Services Department.