Resorting to stationary and non-stationary panel data econometrics we offer tests for "Ricardo's 93% theory of value" for 10 OECD countries over different time periods and aggregation levels. The theory does not find empirical support.

Valuation of used machinery and equipment items and optimization of the overhaul policy are considered as interrelated problems. Non-traditional version of the discounted cash flow method is applied to their decision. The model uses available market and technical information and takes into...

The material approaches the complex relation between cost, value and price in case of real estate properties, analyzed in the context of evaluation mission exercised by a specialist in the field. Therewith, this material illustrates the influence of particularities of the real estate market on...

Modern economic science has become a grand parable, the study of a virtual economic world where the interactive robots engage in mechanical relationships. Although the natural sciences that initially inspired many economists has undergone drastic changes since Newton's era, modern economic...

The theory of capital as power (CasP) is radically different from conventional political economy. In the conventional view, mainstream as well as heterodox, capital is seen a 'real' economic entity engaged in the production of goods and services, and capitalism is thought of as a mode of...

* Winner of the 2021 RECASP Essay Prize * Assets are a crucial concept of the practice and mindset of the capitalist class. Critical analyses of capitalism, however, tend to admit that the exchange of commodities is the foundation of the analysis of capitalism. This article takes a different...

The cost sharing rule derived from the Shapley value is the unique sharing rule which allocates fixed costs uniformly.

Exclusive writings on the contribution of Ibn Khaldun to economics in the English language have not been many, the references to his work also remain scanty and far between. Even in what little is available mostly authors talk about his views on professions, markets and the cloud he castes on...

The model of exchanges in a competitive economy is developed that is based on an economic agent model who maximises the levels of satisfying his demands. The existence of a weak tendency to formation of value is shown. The interrelation between value and (a) technologies, (b) shadow prices in...

The cost sharing rule derived from the Shapley value is the unique sharing rule which allocates fixed costs uniformly