Production, Prices and Time: A Comparison of Some Alternative Concepts
This paper compares alternative concepts of production and prices with a special emphasis on time. First, it is demonstrated that the point-input point-output representation of processes used in von Neumann-Sraffa models is not restrictive and can be derived from general flow-input flow-output processes. Second, the concept of long-period positions, which can be traced back to the work of the classical authors, is discussed. Third, the von Neumann-Sraffa approach is compared with the neo-Austrian model and the flow-fund model developed by Hicks and Georgescu-Roegen respectively. It turns out that these latter two models are, at best, a special case of the former. Finally, some problems and intricacies concerning observable input-output coefficients are discussed and, as an alternative, a possibly applicable method to determine coefficients for general flow-input flow-output processes is presented.
Year of publication: |
2000
|
---|---|
Authors: | Lager, Christian |
Published in: |
Economic Systems Research. - Taylor & Francis Journals, ISSN 0953-5314. - Vol. 12.2000, 2, p. 231-253
|
Publisher: |
Taylor & Francis Journals |
Subject: | Sraffa Von Neumann | (NEO) Austrian Production Theory | Georgescu Roegen'S Flow-FUND Approach |
Saved in:
Online Resource
Saved in favorites
Similar items by person
-
Über einen weiteren vergeblichen Versuch zur Rechtfertigung der Arbeitswertlehre
Lager, Christian, (1995)
-
Lager, Christian, (1995)
-
The treatment of fixed capital in the long period
Lager, Christian, (2006)
- More ...