The use of equilibrium models in economics springs from the desire for parsimonious models of economic phenomena that … so, extolling the virtues of equilibrium theory; then we present a critique and describe why this approach is inherently …’t be a question of dogma, but should be resolved empirically. There are situations where equilibrium models provide useful …

-share hypothesis which dominates today, and the rising output-capital ratio account associated with Marx and Kalecki. Empirically, the … ignore the only coherent alternative. The paper shows Brenner’s rejection of the Marx-Kalecki framework arises because his … mechanism behind, or ultimate cause of, the movement of the output-capital ratio in price terms. …

-defined interruption in growth, accompanied by a fall in money profits, a rise in unemployment, and a sudden fall in asset prices – every 7 …

this ambiguity, and as a result of a legacy of confusion concerning Marx’s own ideas on the profit rate beginning with the … Western reception of Okishio’s (1961) famous theorem, research on the actual mathematical conditions for the profit rate to …

theory, import equilibrium assumptions which rule out a realistic or consistent theory of price formation. An alternative … simultaneous equation systems, formally equivalent to neoclassical general equilibrium systems, cannot represent technical change … observed reality than either neoclassical equilibrium prices or static labour values by showing how, in a dynamic framework …

Sraffa's Production of Commodities. As neither the Smithian labour commanded unit nor the Ricardian-Marxian labour embodied … or the aims of Piero Sraffa's theoretical framework. In the final part, a general solution based on net labour …

Sraffa's Production of Commodities. As neither the Smithian labour commanded unit nor the Ricardian-Marxian labour embodied … or the aims of Piero Sraffa's theoretical framework. In the final part, a general solution based on net labour …

used by the critics of the theory of commodity values transformation into production prices, described by Marx in Volume … correspond to Marx theory and confirm validity of his arguments …

Sraffa's Production of Commodities. As neither the Smithian labour commanded unit nor the Ricardian-Marxian labour embodied … or the aims of Piero Sraffa's theoretical framework. In the final part, a general solution based on net labour …