This paper extends a Steindlian model of growth and income distribution to incorporate borrowing by consumers. It shows that borrowing by consumers can improve growth prospects in the short run by increasing consumer demand. However, in the longer run the effects of increasing consumer borrowing...

The temporal single-system (TSS) quantitative approach to Marx's economics is analysed. It is shown that TSS models lack a clear equilibrium concept and a coherent (dis)equilibrium methodology, and that Marx's propositions on value and exploitation are tautologically obtained (i) by constructing...

This paper critically analyses the approach to the determination of values, or commodity contents, developed by Fujimoto and Opocher in 2009. Even setting aside various problematic definitional issues, the broader implications of the approach for classical theory are unclear. First, the...