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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
examine the meaning of this concept in Leon Walras' and Wassily Leontief's works regarding mathematical models of general …
Persistent link: https://www.econbiz.de/10008924841
The relation between religion, economy and the country became a major topic in the development of public welfare systems. Humans are political creatures that have the potential to realise the level of moral conscience to meet the needs of a better life, but humans as spiritual beings must have a...
Persistent link: https://www.econbiz.de/10012987223
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
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
classical models that are incompatible with Walras’ general equilibrium theory. Our paper examines in details the last argument … "Walrasian", "Classical" and so forth. We show that incompatibility between models of Leontief and Walras’ general equilibrium … criterion is powerless to distinguish Leontief’s representation of production as a circular flow and Walras one. Indeed, while …
Persistent link: https://www.econbiz.de/10009643195
This chapter presents an application of competitive general equilibrium theory of markets in the spirit of Walras …
Persistent link: https://www.econbiz.de/10005790445