We model the interaction between capitalists and entrepreneurs as a dynamic game. The open-loop Nash equilibrium and the closed-loop Nash equilibrium are distinguished. The purpose is to answer some questions that have arisen in the development of profit-led versus wage-led growth models. We...

This paper considers the interconnections between the nature and organization of work and the level of unemployment. We consider how actions taken at the workplace level can impede as well as facilitate the reduction in unemployment. We also consider how the workplace may be reformed to overcome...

Production prices are those exchange-values which, if adopted, put each industry in the conditions to repeat its production process. In this sense they appear as necessary prices. This notion is here compared with that of ‘just’ price, studied by the older moral philosophers (more so than by...

This article investigates citations metrics as an institutional phenomenon from two perspectives: first it tries to articulate the role of citation metrics within a Gramscian framework; second it compares citation patterns from orthodox and heterodox economic journals to gain insights on the...

This paper suggests a way to determine the “monetary expression of labor” (the “MELT”) in today's regime of inconvertible credit money, a way that is consistent with Marx's general theory of money and is quantitatively the same as Marx's determination of the MELT in the case of the...

Between 1969 and the early nineteen-eighties a unique parabola took place in Italy that was both historical and theoretical. We are referring here to the birth, development and decline of a research project that had assumed Sraffa’s book Production of Commodities by Means of Commodities as its...

Two main subjects are dealt with in this paper: the democratic road to socialism in Marx and Engels’s works and, more generally, a feasible transition to a new social order. Starting out from the Marxian definition of revolution as the transition from one production mode to another, the author...

<em>Marx in the matrix. L’algebra del "lavoro vivo"</em> - This paper provides a general overview on the recent interpretations of Marx’s analysis of value, money and income distribution. The paper is organized as follows. Section 1 introduces the original Marxian formulation of labour theory of...

<em>Marx in the matrix, ovvero Marx tra il "circuito monetario" e Sraffa. Un commento a Passarella</em> - This paper shows that it is possible to develop Marx’s categories of new value and surplus value in a consistent model of competitive prices such as Sraffa’s model. In particular, Marx’s theory...