This article illustrates the analysis of prices of production with joint production by a numerical example. The example is used to illustrate the applicability of techniques to identify and visualize qualitative changes in the choice of technique with parameter perturbations. Patterns of switch...

The general consensus among health economists is that the increasing capability of medical providers-often called medical "technology"-is responsible for the majority of growth in medical expenditure. And yet, the principle means of understanding medical technology is through the use of total...

This article using the principal components analysis identifies key industries and groups them into particular clusters. The data come from the US benchmark input-output tables of the years 2002, 2007, 2012 and the most recently published input-output table of the year 2019. We observe some...

In recent years, there has been a resurgence of interest in the controversies surrounding capital theory. At the heart of these debates are the empirically observed near-linearities in the price-rate of profit and wage rate of profit curves. This article posits that these near-linearities can be...

Socially necessary labour time is a key concept in Marxian economic theory. However it is hardly ever properly discussed. This article presents the English translation of a section of a textbook on political economy of socialism published in the former German Democratic Republic in 1974 by an...

The commonly used definition of average labour value, based on the sum of labour time directly used to produce a commodity and all its components is shown to be naïve and indeed false. The definition of labour value has to be conforming to the definition of cost. This implies that the socially...

This paper criticises the generally accepted definition of labour value as first put forward by Nobuo Okishio as seriously faulty and in contradiction with the theory of cost. The shortcomings of this Cold War Definition of Labour Value are so obvious that it is difficult to understand how an...

The present paper on the now partly well known Russian mathematician and "amateur economist" v. Charasoff was originally written in 1987 together with H. Duffner three years after Charasoff's remarkable contribution of 1910 "Das System des Marxismus" (The system of Marxism) had been rediscovered...

This article illustrates the application of bifurcation analysis to structural economic dynamics with a choice of technique. A numerical example of the Samuelson-Garegnani model is presented in which technical progress is introduced. Examples of temporal paths through the parameter space...

This note demonstrates that the special case condition, needed for a simple labor theory of value, of equal organic compositions of capital does not suffice to determine technology. Prices do not vary across techniques for both techniques in a numeric example of a two-commodity linear model of...