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This paper studies the dynamics of a disequilibrium model of classical inspiration from a non-gravitational perspective. In each sector, capitalists decide on rates of accumulation that are revised if the desired rates are not feasible. The dynamics differ according to the hypotheses retained...
Persistent link: https://www.econbiz.de/10005554428
It has long been recognised that Sraffa's analysis of the choice of methods in joint production cannot be sustained, so that post-Sraffian economists have abandoned it. The paper returns to Sraffa's own approach and identifies two characteristic elements: methodologically, it is of a 'dynamic'...
Persistent link: https://www.econbiz.de/10005554478
If land is uniform in quality, an increase in the demand for agricultural goods leads to the use of more intensive cultivation methods. Though Ricardo saw no difficulties in the intensification process, their existence is revealed by the possible occurrence of multiple equilibria. A general...
Persistent link: https://www.econbiz.de/10008694379
The gap between the behavior of single and multiple-product systems is illustrated by numerical examples and simple economic arguments. It appears that none of the usual laws of single-product systems holds true in pure joint production, even in the framework studied by B. Schefold. In a more...
Persistent link: https://www.econbiz.de/10005554411
Persistent link: https://www.econbiz.de/10005436605