After recalling the classical definitions of stock and flow introduced by Fisher, the paper briefly summarizes Georgescu-Roegen’s analysis of the production process and his definitions of the concepts of stock and flow, and also of those of fund and services necessary in his approach. The paper does then propose new definitions of the same four concepts and explore their implications for a different and more realistic approach to labor market analysis.
Bruni, M.. "The concepts of stock and flow. A revisit of Georgescu-Roegen definitions" Working paper, CAPPAPERS, Dipartimento di Economia Marco Biagi - Università degli Studi di Modena e Reggio Emilia, 2016.
The concepts of stock and flow. A revisit of Georgescu-Roegen definitions
Bruni, M.
2016
Abstract
After recalling the classical definitions of stock and flow introduced by Fisher, the paper briefly summarizes Georgescu-Roegen’s analysis of the production process and his definitions of the concepts of stock and flow, and also of those of fund and services necessary in his approach. The paper does then propose new definitions of the same four concepts and explore their implications for a different and more realistic approach to labor market analysis.
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