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Topics in Classical Micro- and Macroeconomics : Elements of a Critique of Neoricardian Theory / by Peter Flaschel

By: Resource type: Ressourcentyp: Buch (Online)Book (Online)Language: English Series: SpringerLink BücherPublisher: Berlin, Heidelberg : Springer Berlin Heidelberg, 2010Description: Online-Ressource (XXI, 509p. 138 illus., 69 illus. in color, digital)ISBN:
  • 9783642003240
Subject(s): Genre/Form: Additional physical formats: 9783642003233 | Buchausg. u.d.T.: Topics in classical micro- and macroeconomics. Berlin : Springer, 2010. XXI, 507 S.DDC classification:
  • 339
  • 330.153
RVK: RVK: QC 100 | QC 000LOC classification:
  • HB172.5
  • HB94
DOI: DOI: 10.1007/978-3-642-00324-0Online resources:
Contents:
Topics in ClassicalMicro- and Macroeconomics; Preface; Part I Labor Values: Theory and Measurement; 1 The So-Called ``Transformation Problem'' Revisited; 1.1 Introduction and Overview; 1.2 Lipietz's Theorem; 1.3 Labor Value Ratios: The Systematic Component in Their Price Expressions?; 1.4 Conclusions; References; 2 Baseline Approaches to the Labor Theory of Value; 2.1 Introduction; 2.2 Labor Value Accounting: Some Propositions; 2.3 Four Baseline Approaches to Marx' Labor Theory of Value; 2.3.1 The Temporal Single System Interpretation (TSSI)
2.3.2 The Aggregate Single System Interpretation (ASSI)2.3.3 The Conventional Dual System Approach (CDSA); 2.3.4 The Marxian Dual System Approach (MDSA); 2.4 Conclusions; References; 3 Using Labor Values: Labor Productivity and Technical Change; 3.1 Introduction; 3.2 Labor Productivity. A Marxian Critique of its Value-Added Decomposition; 3.2.1 The Measurement of Labor Productivity; 3.2.2 Input-Output Tables and Measures of Real Value Added; 3.2.3 Labor Values as Measures of Labor Productivity; 3.2.4 Notes on Technological Change; 3.2.5 Disaggregating Aggregate Measures of Labor Productivity
3.2.6 A Summing Up3.3 Technical Change and the Law of Decreasing Labor Content; 3.3.1 Basic Propositions on Price-Value Relationships; 3.3.2 Notes on the Law of Decreasing Labor Content; 3.3.3 Multiple Activities and Joint Production: Some Observations; 3.3.4 The Okishio Theorem and the Tendency of the Profit Rate to Fall; 3.3.5 The Law of Decreasing Labor Content: Empirical Results; 3.4 Conclusions; References; 4 Marx After Stone: The Marxian Contribution to the UN's SNA; 4.1 Introduction; 4.2 Employment Multipliers and Labor Values in Pure Joint Production Systems
4.2.1 Employment Multipliers4.2.2 Labor Values; 4.2.3 Summary; 4.3 Measurements of Total Labor Requirements Using Input-Output Methodology; 4.3.1 A Physical Input-Output Example; 4.3.2 Case 1: Industry Coefficients; 4.3.3 Case 2: The Output Method; 4.3.4 Case 3: The Commodity-Technology Hypothesis; 4.3.5 Case 4: The Industry-Technology Hypothesis; 4.3.6 Concluding Remarks; 4.4 Actual Labor Values vs. Zero-Profit Prices in Sraffian Models of Fixed Capital; 4.4.1 Introduction; 4.4.2 Average and Individual Labor Values in Single Product Systems
4.4.3 Individual Values in the Case of Fixed Capital: Steedman's Example of Falling Efficiency Reconsidered4.4.4 Rising Efficiency and Rising Book Valuesof Machinery; 4.4.5 Final Remarks; 4.5 Conclusions and Outlook; References; 5 Actual Labor Values in a General Model of Production; 5.1 Introduction; 5.2 A General Equilibrium Approach to Marxian Economics; 5.2.1 Reproducible Solutions; 5.2.2 The Optimum Labor Theory of Value; 5.3 A New and Measurable Definition of Labor Values for Joint Production Systems; 5.3.1 Marx's Case of Multiple Activities; 5.3.2 Joint Production
5.3.3 The Input-Output Approach to Joint Production
Summary: Labor Values: Theory and Measurement -- The So-Called “Transformation Problem” Revisited -- Baseline Approaches to the Labor Theory of Value -- Using Labor Values: Labor Productivity and Technical Change -- Marx After Stone: The Marxian Contribution to the UN’s SNA -- Actual Labor Values in a General Model of Production -- Employment Multipliers and the Measurement of Labor Productivity -- Technology Assumptions and the Energy Requirements of Commodities -- Production Prices and the Standard Commodity. A Critical Reassessment -- In Search of Foundations for a Classical Theory of Competition -- Two Concepts of Basic Commodities for Joint Production Systems -- Some Continuity Properties of a Reformulated Sraffa Model -- The Standard Commodity and the Theory of Income Distribution -- Sraffa’s Standard Commodity: No Fulfillment of Ricardo’s Dream of an ‘Invariable Measure of Value’ -- Gravitation or Convergence in Classical Micro-Dynamics -- Dressing the Emperor in a New Dynamic Outfit -- Stability: Independent of Economic Structure? A Prototype Analysis -- Classical and Neoclassical Competitive Adjustment Processes -- Composite Classical and Keynesian Adjustment Processes -- Gravitation or Convergence in Classical Macro-Dynamics -- Some Stability Properties of Goodwin's Growth Cycle Model -- Endogenous Aspirations in a Model of Cyclical Growth -- Partial Cooperation with Capital vs. Solidarity in a Model of Classical Growth -- The Classical Growth Cycle: Reformulation, Simulation and Some Facts -- The Goodwin Distributive Cycle After Fifteen Years of New Observations -- Classical Dynamics in a General Keynes-Wicksell ModelSummary: This book on Classical micro- and macroeconomics collects revised versions of papers which were written between 1983 and 2000, some jointly with coauthors, and it supplements them in a coherent way with recent unpublished work on the issues 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 as well as applied Leontief-Stone Systems of National Accounts and the Input-Output approaches built on them. This reformulation of Classical economics differs significantly from the static Neoricardian formalization of the Classical approach to economics. In these days when the properly working of the market has become controversial, it is worth going back to classical economics and to study of how the classical dynamic mechanisms, for example the invisible hand in the sense of Adam Smith, were supposed to work to bring about stability, equilibrium and welfare. Having written many books and research papers on the dynamics of market economies, Peter Flaschel very competently takes on this issue in this current monograph. This book will definitely play an important role of reviving classical micro- and macroeconomic dynamics. Willi Semmler, New School University, New York This book is a must-read. It provides a comprehensive, original analysis of classical theories of prices, values, and distribution, which combines the utmost theoretical and mathematical rigour with a significant empirical orientation. Indeed, it outlines the foundations of an alternative analysis of capitalist economies and it is likely to become a classic for all scholars dissatisfied with standard approaches. Yet any open-minded economist would find that the arguments provided have the rare quality of challenging a number of long-held beliefs. Roberto Veneziani, Queen Mary University of LondonPPN: PPN: 1649961421Package identifier: Produktsigel: ZDB-2-SBE
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