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An investigation into the metric space generated by commodity exchange. Shows that this is an non-Euclidean space. Provides empirical data comparing labour and electricity as the possible supports for this metric space.
Persistent link: https://www.econbiz.de/10005412545
The paper addresses Kliman's criticisms of the observed correlations between prices and labour values. It argues that the notion of spurious correlation is not relevant in this case. It examines Kliman's own simulations and shows that his statistical correction techniques involve dividing...
Persistent link: https://www.econbiz.de/10005741943
This article surveys the main themes of post-Keynesian monetary economics (where the term 'post-Keynesian' refers to the school of that name rather than having a purely chronological meaning). The role of monetary theory in justifying the idea of unemployment equilibrium provides one main focus....
Persistent link: https://www.econbiz.de/10005741965
It is a lengthy review essay on Rudy van Zijp's book "Austrian and New Classical Business Cycle Theories" (Elgar, 1993) The review is quite critical, both of the book and of Hayek (whose theories are foremost among the Austrian works considered by van Zijp).
Persistent link: https://www.econbiz.de/10005742551
The paper deals with Hayek's ideas concerning transition between different 'structures of production' and argues that while these ideas are of interest, they are fundamentally flawed. The relationships between Hayek's cycle theory and (a) Keynes and (b) Robert Lucas are also examined.
Persistent link: https://www.econbiz.de/10005742552
Presents a critical analysis of Hayek in the light of modern computability and economic computability theory.
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