The evolution of the rate of profit reflects both changes in income distribution and technical conditions of production. The purpose of this paper is to present estimates of the rate of profit for the Greek economy using input-output data spanning the period 1988-1997 and, at the same time, to...

A typical finding in many empirical studies is that the production price-profit rate relationship is, by and large, monotonic. This paper derives, in terms of the usual single-product model, the spectral conditions that make possible the appearance of such monotonicity. Furthermore, using data...

This paper tests Bienenfeld’s polynomial approximation of production prices using data from ten symmetric input-output tables of five European economies. The empirical results show that the quadratic formula works extremely well and its accuracy is connected to the actual distribution of the...

This paper shows that the ‘New Approach’ to the ‘problem of transforming values into prices’, first, is subjected to a crucial logical inconsistency and second, is not in a position to deal with the heterogeneous labour case. Thus, the paper proposes an approach, which overcomes these...

This paper shows that Marx’s theory of profits is based, implicitly, on the existence of a vertically integrated sector that (i) can produce the exact amount of commodities re-ceived as wages; (ii) includes all the processes of production actually used in the econ-omy considered; and (iii)...

This paper specifies and interprets those direct relations which exist between the dual concepts of complete controllabil-ity/observability (Kalman, 1960), on the one hand, and the con-cept of the regular technique of production (Schefold, 1971), on the other. Specifically, it shows, first, that...

The modern reformulation of Classical analysis of value and distribution built upon Sraffa’s Production of Commodities provides quite a general and open framework to study distributive relationships, that deserves to be still explored. The present work aims to go through these relationships...

Production prices are those exchange-values which, if adopted, put each industry in the conditions to repeat its production process. In this sense they appear as necessary prices. This notion is here compared with that of ‘just’ price, studied by the older moral philosophers (more so than by...

The aim of this paper is to demonstrate that, even if Marx's solution to the transformation problem can be modified, his basic conclusions remain valid. the proposed alternative solution which is presented hare is based on the constraint of a common general profit rate in both spaces and a money...

The aim of this paper is to demonstrate that, even if Marx's solution to the transformation problem can be modified, his basic concusions remain valid.