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this school: Pierangelo Garegnani and Luigi Pasinetti. Certain specific features of their approaches might lead one to …
Persistent link: https://www.econbiz.de/10011107626
Garegnani, and opposed by Malthus, Marshall and Walras. Today a separability thesis cannot be maintained, as it presupposes the …
Persistent link: https://www.econbiz.de/10011108350
The surplus approach of classical political economy is applied to the problem of qualitative change in the social provisioning as concerns the Pacific Northwest. Two features of the surplus approach, 1) emphasis on structural interdependence and 2) the Sraffian notion of ‘viability’, allow...
Persistent link: https://www.econbiz.de/10011111526
The formal representation of economic theories normally takes the form of a model, that is, a system of equations which connect the endogenous variables with the values of the parameters which are taken as given. Sometimes, it is possible to identify one or more equations which are able to...
Persistent link: https://www.econbiz.de/10011258136
This essay provides a critical Marxist reformulation, internal to the cultural tradition of Western Marxism, of Marx’s theoretical treatment of value and capital. It implies the abandonment of the ‘pure’ labour theory of value of the young Marx in favour of a ‘mixed’ labour-and capital...
Persistent link: https://www.econbiz.de/10011259412
, Sraffa and Garegnani, the physical surplus of grains being the necessary basis for his analysis of the distribution and …
Persistent link: https://www.econbiz.de/10011260915
the natural accumulation of capital to be realized in a capitalistic context, where profit rates tend to be uniform. …
Persistent link: https://www.econbiz.de/10005000670
The business enterprise in the real world wrestles with fundamental uncertainty and instability. Key enterprise decisions such as pricing, financing, and investment are thus made strategically rather than optimally. Heterodox economists are, however, divided in the account of business...
Persistent link: https://www.econbiz.de/10011110282
The paper theoretically examines the relationship between variable labor effort (also labeled efficiency wages), effective demand, and involuntary unemployment.
Persistent link: https://www.econbiz.de/10005619911
The hypothesis is that Pareto and Kaldor-Hicks Efficiency have an aspect of sustainability in relation to inequality. The analysis finds efficient situations reached increasing inequality as diminishing in the long term effective demand in a larger measure than counterbalancing increases thanks...
Persistent link: https://www.econbiz.de/10008540106