The Ricardian theory of constantly decreasing returns on additional units of a self-renewable resource states that "best resources are used first, except for location and technical change." Using modern economic theory, the authors show this result to be an unfounded prejudice. Their model of...

This article uses methodological concepts from system analysis to derive four results on the integration of monetary and value theories: (1) the two simple approaches to this problem (individual exchange equations and finance constraints) are really one approach with different values for the...

This study deals with the occurence of barter in monetary economies. We reject the Aristotelician view of barter as a primitive technique fading away with the advance of technological progress. Barter is shown to enable economic agents to publicize their needs without damaging their negotiating...