Spectral Theory Of Value And Actual Economies
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| Author | : Theodore Mariolis |
| Publisher | : Springer Nature |
| Total Pages | : 512 |
| Release | : 2021-05-29 |
| Genre | : Business & Economics |
| ISBN | : 981336260X |
This book develops a unified treatment of the income distribution–capital–value problems with respect to actual economies, and then gradually turns to the issues of effective demand and capitalist accumulation fluctuations from both political economy and economic policy perspectives. That treatment, on the one hand, places produced means of production, positive profits, and capital accumulation at the centre of the analysis and, on the other hand, is analytically based on the modern control theory. Hence, the authors’ investigation is concerned with input–output representations of actual single and joint production, heterogeneous labour, and open economies; zeroes in on the characteristic value distributions of the system matrices; and, finally, derives meaningful theoretical results consistent with the empirical evidence, and vice versa. The main topics addressed are the uncontrollable/unobservable aspects of the real-world economies, the powerful low-order spectral approximations and reconstructions of the inter-industry structure of production–value–distributive variables relationships, the critical-constructive appraisal of both “mainstream” and “radical” theories of value, the matrix demand multipliers and demand-switching policies in heterogeneous capital worlds, and the circular inter-actions amongst income distribution, effective demand, accumulation, and technical conditions of production. Written on the occasion of the 60th anniversary of the publication of both Piero Sraffa’s Production of Commodities by Means of Commodities and Rudolf E. Kalman’s paper “On the general theory of control systems”, this book provides a consistent and comprehensive framework for theoretical, empirical, and economic policy research.
| Author | : Theodore Mariolis |
| Publisher | : |
| Total Pages | : 0 |
| Release | : 2021 |
| Genre | : |
| ISBN | : 9789813362611 |
This book develops a unified treatment of the income distribution-capital-value problems with respect to actual economies, and then gradually turns to the issues of effective demand and capitalist accumulation fluctuations from both political economy and economic policy perspectives. That treatment, on the one hand, places produced means of production, positive profits, and capital accumulation at the centre of the analysis and, on the other hand, is analytically based on the modern control theory. Hence, the authors' investigation is concerned with input-output representations of actual single and joint production, heterogeneous labour, and open economies; zeroes in on the characteristic value distributions of the system matrices; and, finally, derives meaningful theoretical results consistent with the empirical evidence, and vice versa. The main topics addressed are the uncontrollable/unobservable aspects of the real-world economies, the powerful low-order spectral approximations and reconstructions of the inter-industry structure of production-value-distributive variables relationships, the critical-constructive appraisal of both "mainstream" and "radical" theories of value, the matrix demand multipliers and demand-switching policies in heterogeneous capital worlds, and the circular inter-actions amongst income distribution, effective demand, accumulation, and technical conditions of production. Written on the occasion of the 60th anniversary of the publication of both Piero Sraffa's Production of Commodities by Means of Commodities and Rudolf E. Kalman's paper "On the general theory of control systems", this book provides a consistent and comprehensive framework for theoretical, empirical, and economic policy research.
| Author | : Theodore Mariolis |
| Publisher | : Springer |
| Total Pages | : 253 |
| Release | : 2016-01-13 |
| Genre | : Political Science |
| ISBN | : 4431550046 |
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 />
| Author | : Lefteris Tsoulfidis |
| Publisher | : Springer Nature |
| Total Pages | : 465 |
| Release | : 2019-09-05 |
| Genre | : Political Science |
| ISBN | : 3030179672 |
This book promotes an in-depth understanding of the key mechanisms that govern the functioning of capitalist economies, pursuing a Classical Political Economics approach to do so. It explores central theoretical issues addressed by the classical economists Smith and Ricardo, as well as Marx, while also operationalizing more recent theoretical developments inspired by the works of Sraffa and other modern classical economists, using actual data from major economies. On the basis of this approach, the book subsequently provides alternative explanations for various microeconomic issues such as the determination of equilibrium prices and their movement induced by changes in income distribution; the dynamics of competition of firms within and between industries; the law of tendential equalization of interindustry profit rates; and international exchanges and transfers of value; as well as macroeconomic issues concerning capital accumulation and cyclical economic growth. Given its scope, the book will benefit all researchers, students, and policymakers seeking new explanations for observed phenomena and interested in the mechanisms that give rise to surface economic categories, such as prices, profits, the unemployment rate, interest rates, and long economic cycles.
| Author | : Lefteris Tsoulfidis |
| Publisher | : Routledge |
| Total Pages | : 239 |
| Release | : 2021-05-31 |
| Genre | : Business & Economics |
| ISBN | : 1351239406 |
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.
| Author | : Roger Godement |
| Publisher | : Springer |
| Total Pages | : 535 |
| Release | : 2015-04-30 |
| Genre | : Mathematics |
| ISBN | : 3319169076 |
Analysis Volume IV introduces the reader to functional analysis (integration, Hilbert spaces, harmonic analysis in group theory) and to the methods of the theory of modular functions (theta and L series, elliptic functions, use of the Lie algebra of SL2). As in volumes I to III, the inimitable style of the author is recognizable here too, not only because of his refusal to write in the compact style used nowadays in many textbooks. The first part (Integration), a wise combination of mathematics said to be `modern' and `classical', is universally useful whereas the second part leads the reader towards a very active and specialized field of research, with possibly broad generalizations.
| Author | : Ernesto Screpanti |
| Publisher | : Open Book Publishers |
| Total Pages | : 124 |
| Release | : 2019-10-09 |
| Genre | : Education |
| ISBN | : 178374782X |
In this book Ernesto Screpanti provides a rigorous examination of Marx’s theory of exploitation, one of the cornerstones of Marxist thought. With precision and clarity, he identifies the holes in traditional readings of Marx’s theory before advancing his own original interpretation, drawing on contemporary philosophy and economic theory to provide a refreshingly interdisciplinary exegesis. Screpanti’s arguments are delivered with perspicuity and verve: this is a book that aims to spark a debate. He exposes ambiguities present in Marx’s exposition of his own theory, especially when dealing with the employment contract and the notions of ‘abstract labor’ and ‘labor value’, and he argues that these ambiguities have given rise to misunderstandings in previous analyses of Marx’s theory of exploitation. Screpanti’s own interpretation is a meticulously argued counterpoint to these traditional interpretations. Labour and Value is a significant contribution to the theory of economics, particularly Marxist economics. It will also be of great interest to scholars in other disciplines including sociology, political science, and moral and political philosophy. Screpanti’s clear and engaging writing style will attract the interested general reader as well as the academic theorist.
| Author | : Santiago Cano-casanova |
| Publisher | : World Scientific |
| Total Pages | : 289 |
| Release | : 2005-09-29 |
| Genre | : Science |
| ISBN | : 9814479268 |
This volume details some of the latest advances in spectral theory and nonlinear analysis through various cutting-edge theories on algebraic multiplicities, global bifurcation theory, non-linear Schrödinger equations, non-linear boundary value problems, large solutions, metasolutions, dynamical systems, and applications to spatial ecology.The main scope of the book is bringing together a series of topics that have evolved separately during the last decades around the common denominator of spectral theory and nonlinear analysis — from the most abstract developments up to the most concrete applications to population dynamics and socio-biology — in an effort to fill the existing gaps between these fields.
| Author | : Philip Mirowski |
| Publisher | : Springer |
| Total Pages | : 270 |
| Release | : 2007-06-30 |
| Genre | : Business & Economics |
| ISBN | : 0585268797 |
"The mandate given to the editor of the present volume was succinct and to the point: gather together some of the most recent attempts to remake economic theory at its most fundamental levels, and avoid the two debased brands of academic revolutions. Now, anyone would have realized that this would be a devilishly difficult task, more likely than not to backfire; but, in retrospect, the editor still marvels at the complacency with which he embarked on the enterprise. It was quite easy to identify the critics of conventional economics who had little more than criticism to offer; it was much more difficult to feel certain that he had actually stumbled upon a substantive divergence from the orthodoxy that appeared to promise further fruitful developments. ... Forewarned and forearmed, the prospective reader should then be equipped to judge for him- or herself whether truth in advertising has been further abused, or if something a little more interesting and entertaining is afoot."--Pages 1-2
| Author | : Robert L. Heilbroner |
| Publisher | : Cambridge University Press |
| Total Pages | : 148 |
| Release | : 1996-01-26 |
| Genre | : Political Science |
| ISBN | : 9780521497145 |
A deep and widespread crisis affects modern economic theory, a crisis that derives from the absence of a "vision"--a set of widely shared political and social preconceptions--on which all economics ultimately depends. This absence, in turn, reflects the collapse of the Keynesian view that provided such a foundation from 1940 through the early 1970s, comparable to earlier visions provided by Smith, Ricardo, Mill, and Marshall. The "unraveling" of Keynesianism has been followed by a division into discordant and ineffective camps whose common denominator seems to be their shared analytical refinement and lack of practical applicability. This provocative analysis attempts both to describe this state of affairs, and to suggest the direction in which economic thinking must move if it is to regain the relevance and remedial power it now pointedly lacks.
