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This paper discusses the relation between law and contingency in the formation of value. It begins from a much-ignored assertion of Marx, repeated throughout his works, that the equality of supply and demand is contingent and their non-equality constitutes their law. This highly complex and...
Persistent link: https://www.econbiz.de/10005789658
temporal evolution of its parameters. This alternative view reinstates the notion which Marshall and Walras sought to extirpate …
Persistent link: https://www.econbiz.de/10005621983
Marshall's theory of capital was designed to serve two main purposes: an integration of the theory of income … Marshall's theory of capital was the establishment of a functional link between the theory of value and the theory of money. As … a quantity-theorist, Marshall held a "real" theory of the long-period determination of the rate of interest, in the …
Persistent link: https://www.econbiz.de/10011111391
The paper examines the development over time of Marshall's theoretical position, with the purpose of assessing its … place in the history of economic thought. Marshall's work, concerned with the theoretical implications of structural changes … of its original historical context. Both the innovative character of Marshall's early theoretical work and the inner …
Persistent link: https://www.econbiz.de/10011112147
produced. The issues dealt with include the real motivations of Sraffs's criticism of Marshall's theory of value. …
Persistent link: https://www.econbiz.de/10011113362
This paper proposes a textual analysis of Marshall’s theory of firm pricing behavior under competitive conditions. It … considers to what extent average cost and marginal cost pricing rules characterize Marshall’s competitive partial equilibrium …
Persistent link: https://www.econbiz.de/10005622047
Chapter 12 of Keynes´ General Theory has concepts and analytical links with strong identification with the ones used by … the so-called institutional approaches. This essay emphasises what seems to have been anticipated by Keynes on the …
Persistent link: https://www.econbiz.de/10005837533
occupied central importance in the history of economic thought. This paper focuses on Marx and Keynes and argues that Marx … as well as the precise mechanism that leads the economy to its crisis stage. Keynes’s analysis, although sketchy, has … more in common with Marx and Smith than with Ricardo and neoclassical economics. Furthermore, Keynes’s views on effective …
Persistent link: https://www.econbiz.de/10009418516
This paper explains the early U.S. Department of Commerce estimates of national income and product during the 1930s and 1940s, focusing on how both economic theory and the needs of policymakers influenced the methods and concepts used. The paper explores the debate between Simon Kuznets, author...
Persistent link: https://www.econbiz.de/10011257743
-MP approach neglects completely the influence of the liquidity-preference typically associated in pure Keynes framework with the …
Persistent link: https://www.econbiz.de/10011257942