Download or read book Studies in the Theory of Value Profit and Distribution in the Tradition of Classical Economics written by Murray Jack Milgate and published by . This book was released on 1974 with total page 652 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Themes in Value and Distribution written by Krishna Bharadwaj and published by Routledge. This book was released on 2017-01-20 with total page 522 pages. Available in PDF, EPUB and Kindle. Book excerpt: The essays in this volume, first published in 1989, seek to re-examine an important area of economic theory: value and distribution. In a sustained and analytical critique, two principle methodological approaches are compared and distinguished: the Classical or ‘surplus-based’ theories and the demand-and-supply-based equilibrium (DSE) theories. Although the essays are primarily concerned with value and distribution, the critique necessarily extends to the theory of output and employment, and in general, to the theory of trade and accumulation. The book will be an invaluable reader for students of economic thought, capital theory and Marxian political economy.
Download or read book Modern Classical Economics and Reality written by Theodore Mariolis and published by Springer. This book was released on 2016-01-13 with total page 253 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents an in-depth, novel, and mathematically rigorous treatment of the modern classical theory of value based on the spectral analysis of the price–profit–wage rate system. The classical theory is also subjected to empirical testing to show its logical consistency and explanatory content with respect to observed phenomena and key economic policy issues related to various multiplier processes. In this context, there is an examination of the trajectories of relative prices when the distributive variables change, both theoretically and empirically, using actual input–output data from a number of quite divers e economies. It is suggested that the actual economies do not behave like the parable of a one-commodity world of the traditional neoclassical theory, which theorizes the relative scarcities of “goods and production factors” as the fundamental determinants of relative prices and their movement. By contrast, the results of the empirical analysis are fully consistent with the modern classical theory, which makes the intersectoral structure of production and the way in which net output is distributed amongst its claimants the fundamental determinants of price magnitudes. At the same time, however, these results indicate that only a few vertically integrated industries (“industry core” or “hyper-basic industries”) are enough to shape the behaviour of the entire economy in the case of a disturbance. This fact is reduced to the skew distribution of the eigenvalues of the matrices of vertically integrated technical coefficients and reveals that, across countries and over time, the effective dimensions of actual economies are surprisingly low. Normal 0 false false false EN-US JA X-NONE />
Download or read book The Theory of Value and Distribution in Economics written by Pierangelo Garegnani and published by Routledge. This book was released on 2012 with total page 162 pages. Available in PDF, EPUB and Kindle. Book excerpt: This new volume explores two alternative economic theories - the classical theory and the marginalist or neoclassical theory- through a discussion between two eminent economists, Pierangelo Garegnani and Paul Samuelson. The key themes of the volume are the difference in approaches to the explanation of the distribution of income and relative prices, and therefore different approaches to all other economic problems, in particular capital accumulation and economic growth. The book discusses whether there is a 'classical' approach to the theory of value and distribution at the core of economic theory that is fundamentally different from the later marginalist or neoclassical theory. In the volume, the late Pierangelo Garegnani argues for the validity of Piero Sraffa's position on this issue, whilst the late noble laureate Paul Samuelson vehemently contests it. At a time of economic crisis, the future of the discipline is far from certain, and so it is extremely important to bring these debates back into the light, by reproducing them together for the first time. A comprehensive introduction by Heinz Kurz sets the debate in this context, and provides crucial background to the arguments.
Download or read book Interest and Profit in the Theories of Value and Distribution written by Carlo Panico and published by Springer. This book was released on 1988-06-18 with total page 238 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book On the Origins of Classical Economics written by Tony Aspromourgos and published by Routledge. This book was released on 1995-12-07 with total page 241 pages. Available in PDF, EPUB and Kindle. Book excerpt: Examines the origin and early development of the classical theory of distribution up to 1767, stressing the concept of economic `surplus' as a key determinant of economic phenomena.
Download or read book Law of Value and Theories of Value written by Tiago Camarinha Lopes and published by BRILL. This book was released on 2022-01-21 with total page 236 pages. Available in PDF, EPUB and Kindle. Book excerpt: In Law of Value and Theories of Value, Tiago Camarinha Lopes presents the genesis of Karl Marx’s understanding of the law of value by showing that Classical and Neoclassical economics are equally hit by Marx’s Critique of Political Economy.
Download or read book Understanding Classical Economics written by Heinz D. Kurz and published by Routledge. This book was released on 2002-09-11 with total page 292 pages. Available in PDF, EPUB and Kindle. Book excerpt: The essays in this collection argue that the 'classical' approach to economic problems holds the key to an explanation of important present day economic phenomena.
Download or read book Classical Theories of Money Output and Inflation written by Roy Green and published by Springer. This book was released on 2016-07-27 with total page 275 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book challenges the conventional view that monetarism is a necessary part of classical economics and shows, in an historical account of monetary controversy, that the framework upon which classical analysis is based suggests an alternative account of the inflationary process. A corollary of the argument is that the monetarist approach is a logically necessary component of neoclassical analysis and that any attempt to criticise that approach in a fundamental way must involve an explicit rejection of the conceptual structure of neoclassical economics.
Download or read book Ricardo and the Theory of Value Distribution and Growth written by Giovanni A. Caravale and published by Psychology Press. This book was released on 2003 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book presents a rigorous reconstruction of Ricardo's contribution to economic theory and a unifying interpretation of the key issues of Ricardo's research. Part One deals primarily with the problems of value and distribution Part Two deals specifically with the issues of distribution and growth. * Contemporary economic literature in the fields of value, distribution and growth is witnessing a renewed interest in the approach of the classical school, notably in the work of David Ricardo.
Download or read book Studies in the Labor Theory of Value written by Ronald L. Meek and published by NYU Press. This book was released on 1956 with total page 383 pages. Available in PDF, EPUB and Kindle. Book excerpt: This pioneering survey of the development of the “labor theory of value,” advances Marxian economic categories for contemporary conditions.
Download or read book Production Value and Income Distribution written by Enrico Bellino and published by Routledge. This book was released on 2021-12-30 with total page 267 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book investigates the relationship between wages, profits, values and labour employment from a classical-Keynesian perspective. The starting point of this approach is classical political economy (in particular, Smith, Ricardo and Marx), suitably reformulated in modern terms by Sraffa and then integrated with the Keynesian theory of employment. Such an approach proves to be more appropriate in understanding the complexities of current economies and in identifying the instruments to pursue the final goal of economic systems: putting each person in a position to earn what is necessary to live with dignity. The approach undertaken by these chapters is in contrast to the ‘marginalist’ or ‘neoclassical’ school, which constitutes the mainstream of economic analysis. Especially in recent decades, several critical analyses of the present state of economic research have emerged due to the failure of contemporary economic analysis to acutely penetrate and guide the workings of actual economic systems. But these analyses have not always been effectively presented in a coordinated manner. This work presents one possible unifying framework—grounded in a solid tradition of economic thought—which aims to describe the basic forces operating in capitalistic economies and to identify the main objectives to pursue in production economies in order to fully exploit their potential. Most importantly, the focus of such classical-Keyensian analysis concerns the production of goods and services, and this book shows how several factors typical of contemporary (post-)industrial societies thus can be understood in a way that the standard economic theory has not been able to explicate (due to the reduction of everything to a question of exchange). The book provides key reading for those on master level economics courses. Moreover, it constitutes a solid introduction to modern classical-Keynesian analysis. It may also be of interest to readers who are keen to develop a critical view of economics, political economy and history of economic thought.
Download or read book Capital and Employment written by Murray Milgate and published by Academic Press. This book was released on 2014-05-10 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt: Studies in Political Economy: Capital and Employment: A Study of Keynes's Economics focuses on the inquiry into Keynesian economics, particularly the relationship of capital and employment. The publication first underscores the contemporary position of 'Keynesian' economics, traditional long-period method of economic analysis, and theoretical systems and the long-period method. Discussions focus on the structure of classical economic theory, structure of marginalist economic theory, and the traditional long-period method of economic analysis. The text then ponders on the analysis of deviations from long-period positions, principle of effective demand, and the theory of capital and theory of employment. Topics include Keynes on the 'classical' theory of interest, capital and employment, inflexibility of money-wages, long-period theory of output and employment, and principle of effective demand. The book takes a look at the theoretical system of the treatise versus the general theory and the method of analysis in the treatise and the general theory, including the conceptual framework of the treatise on money and general theory and the natural rate of interest and level of employment. The publication is a valuable reference for economists and researchers interested in the relationship of capital and employment.
Download or read book Classical Economics and Modern Theory written by Heinz D. Kurz and published by Routledge. This book was released on 2005-08-12 with total page 410 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this thought-provoking book, well known economists Kurz and Salvadori cover original findings and new vistas on old problems. They cover: alternative interpretations of classical economists new growth theory the relationship between Sraffian theory and Von Neumann the treatment of capital in neoclassical long-period theory. Incorporating cutting-edge research and new work, this book will be of great interest to those working in the field of the history of economic thought.
Download or read book Theories of Value from Adam Smith to Piero Sraffa written by Ajit Sinha and published by Routledge. This book was released on 2013-04-03 with total page 377 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents a comprehensive account of more than 200 years of controversy on the classical theories of value and distribution. The author focuses on four, perhaps most critical, classics, viz., Adam Smith’s Wealth of Nations, David Ricardo’s Principles of Political Economy, Karl Marx’s Capital and Piero Sraffa’s Production of Commodities by Means of Commodities. The book highlights several significant differences in the theories of the four authors as it searches for the ‘classical standpoint’ that separates them from the ‘moderns’. It throws fresh light on some old questions while introducing new, controversial interpretations in the literature surrounding it. It is unique in its organisation as it first presents the author’s close reading of the theories of value and distribution in the four classics and then critically engages with the major alternative interpretations and criticisms of the theories discussed therein. Bringing original insights on theoretical positions, the book challenges canonical interpretations so as to discuss and analyse the flaws and weaknesses, in addition to the already obvious strengths, of widely celebrated theories. The theories discussed here emerge from questions like: what role does demand or human psychology play in the determination of value in classical theory? Do classical economists determine the distribution of income within the context of a theory of prices and resource allocation? What role does the notion of ‘equilibrium’ play in classical theory and the theory of Sraffa? It will appeal to academics and students of economic theory and philosophy, as well as to the general reader.
Download or read book Capital Theory and Political Economy written by Lefteris Tsoulfidis and published by Routledge. This book was released on 2021-05-31 with total page 239 pages. Available in PDF, EPUB and Kindle. Book excerpt: In recent years, there have been a number of new developments in what came to be known as the "Capital Theory Debates". The debates took place mainly during the 1960s as a result of Piero Sraffa's critique of the neoclassical theory according to which the prices of factors of production directly depend on their relative scarcities. Sraffa showed that when income distribution changes, there are many complexities developed within the economic system impacting on prices in ways which are not possible to predict. These debates were revisited in the 1980s and again more recently, along with a parallel literature that has developed among neoclassical economists and has also looked at the impact of shocks on an economy. This book summarizes the debates and issues around the theory of capital and brings to the fore the more recent developments. It also pinpoints the similarities and differences between the various approaches and critically evaluates them in light of available empirical evidence. The focus of the book is on the price trajectories induced by changes in income distribution and the resulting shape of the wage rates of profit curves and frontier. These issues are central to areas such as microeconomics, international trade, growth, technological change and macro stability analysis. Each chapter starts with the theoretical issues involved, followed by their formalization and subsequently with their operationalization. More specifically, the variables of the classical theory of value and distribution are rigorously defined and quantified using actual input–output data from a number of major economies, but mainly from the USA, over long stretches of time. The empirical results are not only consistent with the anticipations of the theory but also further inform and therefore strengthen its predictive content raising new significant questions.
Download or read book Topics in Classical Micro and Macroeconomics written by Peter Flaschel and published by Springer Science & Business Media. This book was released on 2010-03-14 with total page 517 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book on Classical micro- and macrodynamics includes revised versions of papers which were written between 1983 and 2000, some jointly with co-authors, and it supplements them with recent work on the issues which are raised and treated in them. It attempts to demonstrate to the reader that themes of Classical economics, in particular in the tradition of Smith, Ricardo and Marx, can be synthesized into a coherent whole, from the perspective of formal model building. This is accomplished by means of mathematical techniques which, on the one hand, provide a consistent accounting framework (labor values and prices of p- duction) as point of reference for Classical micro- and macro-dynamics and which, on the other hand, attempt to apply these accounting schemes – or suitable ext- sions of them – by showing their usefulness as tools of analysis of the implications of technological change (labor values) and as potential tools for understanding the dynamics of market prices and of income distribution around their centers of gravity (production prices and the wage-pro?t curve).
