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A Sraffian Critique of the Classical Notion of Centre of Gravitation
Dupertuis, Michel-Stéphane - 2010
In this paper we use insights from Sraffa's classic, Production of Commodities by Means of Commodities, to argue that … price signals and quantity adjustments, given effectual demands, do not lead to a ‘centre of gravitation'. We work out all …
Persistent link: https://www.econbiz.de/10013150396
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Money, interest, and capital accumulation in Karl Marx's economics : a monetary interpretation
Hein, Eckhard - 2002
. Money as a social representative of value, therefore, is introduced at the very beginning of Marx's microeconomics. Marx … shown that major elements of Marx's economic theory fall in the camp of monetary analysis and the implications for Marx …'s theory of capital accumulation are derived. First, Marx's theory of labour value has to be considered a "monetary theory of …
Persistent link: https://www.econbiz.de/10010486805
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Imperialism : old and new theories
Stathakēs, Giōrgos - In: International journal of economic sciences and applied … 1 (2008) 1, pp. 100-124
The old theories of imperialism attempted to explain the phenomenon of the militarization of the industrial nations and their conflict over colonies that led to World War I. It was the rise of monopoly capitalism, the emergence of finance capital and the control over the state that led...
Persistent link: https://www.econbiz.de/10009007517
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Monopoly Power and Labour Values
Hagendorf, Klaus - 2011
This paper presents the microeconomic partial and general economic equilibrium analysis of monopoly power in terms of … price system. Within the framework of input-output analysis it is shown that in the monopolistic economic system the over …
Persistent link: https://www.econbiz.de/10013132539
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The Value of Liquidity
Basso, Leonardo Cruz - 2008
The objective of this article is to examine four theories that consider an explanation and measurement for the value of liquidity. Liquidity will be understood as cash, that is, we are leaving aside assets of lesser degree of liquidity than cash. The article begins with the Keynesian view about...
Persistent link: https://www.econbiz.de/10014220997
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The Cobb-Douglas Production Function and Political Economy
Hagendorf, Klaus - 2013
In classical and Marxian political economy economic advancement takes place in stages of development. These stages are characterized by different functional distributions of income. In this paper we show that the Cobb-Douglas Production Function is the only production function which has the...
Persistent link: https://www.econbiz.de/10014198717
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Sraffa, Leontief, Lange : the political economy of input-output economics
Lopes, Tiago Camarinha; Neder, Henrique Dantas - In: Economia : revista da ANPEC 18 (2017) 2, pp. 192-211
sketching the logical-historical development of Input–Output economics. The model of Sraffa, the Leontief matrices and the …
Persistent link: https://www.econbiz.de/10011866398
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Is there room for bulls, bears, and states in the circuit?
Wray, L. Randall - 2011
John Maynard Keynes's liquidity preference theory, Kregel argued that such rejection leaves the relation between money and … requires an extension of the circuit theory of money, along the lines of the credit and state money approaches of modern …. Kregel ; Chartalist ; Modern Money Theory ; State Money ; Credit Money ; Default …
Persistent link: https://www.econbiz.de/10009523597
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Wages Paid in Value in Self-Replacing Economies
Benítez Sánchez, Alberto - 2014
, defined by Sraffa, when wages are paid entirely in value. As a result of our analysis, it is possible to build a model that …
Persistent link: https://www.econbiz.de/10013055810