1,881 research outputs found
Return to devalued drachma, cost-push inflation and international competitiveness
No full textThis paper presents empirical estimates of the effects of a return to devalued drachma on the cost-inflation rate in the Greek economy. The results show moderate effects and the potential for substantial improvements in the balance of goods and services.Cost-Push Inflation, Drachma Devaluation, Dynamic Input-Output Price Models, Greek Economy, International Competitiveness
A Critique of the ‘New Approach’ to the Transformation Problem and a Proposal
No full textThis paper shows that the ‘New Approach’ to the ‘problem of transforming values into prices’, first, is subjected to a crucial logical inconsistency and second, is not in a position to deal with the heterogeneous labour case. Thus, the paper proposes an approach, which overcomes these problems and concludes that values of commodities are their actual prices.Abstract social labour; heterogeneous labour; New Approach; transformation problem
A Critical Note on Marx’s Theory of Profits
No full textThis paper shows that Marx’s theory of profits is based, implicitly, on the existence of a vertically integrated sector that (i) can produce the exact amount of commodities re-ceived as wages; (ii) includes all the processes of production actually used in the econ-omy considered; and (iii) constitutes a quasi-one-commodity system. Nevertheless, the said sector does not always exist, whilst when it exists, positive surplus labour is a nec-essary and sufficient condition for positive profits in this sector, pure and simple. Con-sequently, Marx’s theory of profits cannot be sustained.Marx’s theory of profits; surplus labour; uniform rate of profit; vertically integrated wage sector
A neo-Ricardian critique of the traditional static theory of trade, customs unions and common markets
No full textThe vast majority of meaningful discussions about the processes of economic integration and liberalization of trade have so far revolved around the neoclassical theory. This paper is based on the neo-Ricardian theory, briefly investigates the issues of free trade, customs unions and common markets, and shows that the relevant neoclassical propositions do not hold and/or make no sense in a world ‘of production of commodities by means of commodities’. Thus, the fundamental theoretical presuppositions of the aforesaid debate are called in question.common markets; customs unions; free trade; neo-Ricardian theory; traditional static theory
Controllability, Observability, Regularity, and the so-called Problem of Transforming Values into Prices of Production
No full textThis paper specifies and interprets those direct relations which exist between the dual concepts of complete controllabil-ity/observability (Kalman, 1960), on the one hand, and the con-cept of the regular technique of production (Schefold, 1971), on the other. Specifically, it shows, first, that there is a certain dynamic system for determining labour values, which is connected with the usual system for determining prices of production (à la Sraffa, 1960, Part I) via the z-(Laplace) transform, and, second, that the said system of values is completely controllable when and only when the system of production prices is regular. In view of the above, it could be considered that the z-(Laplace) transform constitutes the solution to the – suitably reformulated – Marxian ‘problem of transforming values into prices of production’. However, on the basis of an economic interpretation of the z-(Laplace) transform, this paper shows, ultimately, not only that such a consideration is erroneous, but also that the supposed ‘problem’ is devoid of economic meaning.Control theory; controllability; observability; regular production technique; Sraffian theory; transformation problem
Distribution and Growth in an Economy with Heterogeneous Capital and Excess Capacity
No full textIn a world of heterogeneous capital the aggregate capital-capacity ratio can change in a complicated way as the real wage rate changes and, therefore, nothing useful can be said, a priori, about the relationships between the real wage rate (or the aggregate profit share), the degree of capacity utilization and the rates of profit, capital accumulation and interest.Aggregate capital-capacity ratio; capacity utilization; heterogeneous capital; post-Keynesian theory; Sraffian theory
Dr. Glendon Swarthout
No full textHosted by Roger M. Busfield, MSU Assistant Professor of Speech and Theater, Meet the Author is designed to introduce a general audience to a contemporary author and their work through in-depth interviews. This episode features a conversation between Dr. Glendon Swarthout, prolific author and English professor at MSU, and assistant professors Sam S. Baskett and Theodore B. Strandness
Mr. Theodore F. Bevan's Fifth expedition to British New Guinea : Preliminary presentation pamphlet (illustrated)
No full textLimited to 100 copies.; Author's presentation copy to the Editor of the Sydney Morning Herald.; Ferguson, no. 6989.; Also available in an electronic version via the Internet at: http://nla.gov.au/nla.aus-f6989; Ferguson copy signed by author
Theodore Deppe, 38th Annual ODU Literary Festival
No full textTheodore Deppe is the author of Beautiful Wheel, Orpheus on the Red Line, Cape Clear: New and Selected Poems, The Wanderer King, and Children of the Air. He has received a Pushcart Prize, two fellowships from the National Endowment for the Arts, and grants from the Massachusetts Cultural Commission and the Connecticut Commission on the Arts. His work has appeared in Poetry, Harper’s, Kenyon Review, Ploughshares, Poetry Ireland Review and elsewhere. He served as writer-in-residence at Phillips Academy in Massachusetts, the Poet\u27s House in Ireland, Westminster College in Utah, and the James Merrill House in Connecticut. He directs Stonecoast in Ireland and lives on the west coast of Ireland
Bienenfeld’s approximation of production prices and eigenvalue distribution: some more evidence from five European economies
No full textThis paper tests Bienenfeld’s polynomial approximation of production prices using data from ten symmetric input-output tables of five European economies. The empirical results show that the quadratic formula works extremely well and its accuracy is connected to the actual distribution of the eigenvalues of the matrices of vertically integrated technical coefficients.Bienenfeld’s approximation; Damping ratio; Eigenvalue distribution; Empirical evidence; Production prices
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