In accordance with the concept of transaction as introduced by John R. Commons we willinvestigate the contractual and market remedies which labour law may implement to make ‘order’ in theemployer-employee relationship.In this view, one of the most important contractual remedies is the...

The aim of this paper is to provide an assessment of John R. Commons’ adoption of Wesley N. Hohfeld’s framework of jural opposites and correlatives in order to construct his transactional approach to the study of institutions. Hohfeld’s influence on Commons, it is argued, was both positive...

The paper discusses three redefinitions of the labour theory of value: the New Interpretation of Duménil and Foley, the approach of Wolff-Callari-Roberts, and the Temporal Single System approach. In them the labour theory of value loses the role of instrument for the determination of the rate...

First we consider the existence question in Sraffa’s Chapter I dismissed by counting equations and unknowns. A theorem from the theory of Markov processes, applied to distributions not now of probability but of goods to sectors, shows the general existence of non-negative prices satisfying the...

The paper disputes the negative conclusion of prof. Mandler on the thesis by Garegnani, Schefold, Parrinello that intertemporal general equilibrium theory too is undermined by reswitching and reverse capital deepening. The paper argues that Mandler’s conclusion rests upon highly criticisable...

Il saggio illustra la spiegazione Classico-Kaleckiana della crisi dell’Eurozona domandandosi se essa sia un effetto indesiderato o possa, invece, rappresentare il dispiegamento dei veri obiettivi anti-sociali della moneta unica. Si esaminano poi le possibili vie d’uscita, inclusa quella di...

With some exceptions, non-orthodox economists share the ‘Keynesian Hypothesis’ of the independence of investment from capacity-savings, in the long-run no less than the short-run. This hypothesis marks an essential point of difference from neo-classical theory. Keynes showed that within the...

The aim of this paper is to analyze American economists’ influence in the passing of the Clayton and Federal Trade Commission Acts (1914). Specifically, it is argued and documented that American economists were important in this process in two ways. Many economists exercised an “indirect”...

Marx develops two alternative theories of the employment contract: one treats it as an agreement of commodity exchange, and one as a relational arrangement. In the former theory Marx introduces the notion of 'labour power' as a physical stock of labour capacity. Then he argues that the worker,...

Marx’s theory of labour value is flawed. This note summarizes the main reasons why this is so. At the same time, it claims that the theory of exploitation does not depend on a labour embodied valuation and can be expounded by resorting to the theory of production prices. Almost all Marxists...