The Theory Of Value And Distribution In Economics

Author : Pierangelo Garegnani,Paul Samuelson
Publisher : Routledge
Page : 162 pages
File Size : 40,5 Mb
Release : 2012
Category : Business & Economics
ISBN : 9780415519595

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The Theory of Value and Distribution in Economics by Pierangelo Garegnani,Paul Samuelson Pdf

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.

Author : Rory O'Donnell
Publisher : Springer
Page : 288 pages
File Size : 40,8 Mb
Release : 2016-02-05
Category : Business & Economics
ISBN : 9781349109081

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Adam Smith’s Theory of Value and Distribution by Rory O'Donnell Pdf

This book looks at the value and distribution debates on the theories of Adam Smith. A variety of the aspects of his work are covered in this book such as his labour command measure, as are a number of interpretations and criticisms.

Author : Maurice Dobb
Publisher : Cambridge University Press
Page : 308 pages
File Size : 51,8 Mb
Release : 1975-04-17
Category : Business & Economics
ISBN : 0521099366

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Theories of Value and Distribution Since Adam Smith by Maurice Dobb Pdf

Mr Dobb examines the history of economic thought in the light of the modern controversy over capital theory and, more particularly, the appearance of Sraffa's book The Production of Commodities by Means of Commodities, which was a watershed in the critical discussions constituted a crucial turning-point in the history of economics: an estimate not unconnected with his reinterpretation of nineteenth-century economic thought as consisting of two streams or traditions commonly confused under the generic title of 'the classical tradition' against which Jevons so strongly reacted.

Author : Giovanni A. Caravale,Domenico A. Tosato
Publisher : Routledge
Page : 280 pages
File Size : 44,9 Mb
Release : 2013-04-15
Category : Business & Economics
ISBN : 9781135033378

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Ricardo and the Theory of Value Distribution and Growth by Giovanni A. Caravale,Domenico A. Tosato Pdf

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.

Author : Pierangelo Garegnani,Paul Samuelson
Publisher : Routledge
Page : 162 pages
File Size : 48,5 Mb
Release : 2012-08-21
Category : Business & Economics
ISBN : 9781136244803

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The Theory of Value and Distribution in Economics by Pierangelo Garegnani,Paul Samuelson Pdf

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.

Author : John Eatwell,Murray Milgate
Publisher : Bloomsbury Academic
Page : 308 pages
File Size : 52,7 Mb
Release : 1983
Category : Distribution (Economic theory).
ISBN : STANFORD:36105037525594

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Keynes's Economics and the Theory of Value and Distribution by John Eatwell,Murray Milgate Pdf

Author : Krishna Bharadwaj
Publisher : Routledge
Page : 522 pages
File Size : 40,6 Mb
Release : 2017-01-20
Category : Business & Economics
ISBN : 9781315385846

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Themes in Value and Distribution by Krishna Bharadwaj Pdf

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.

Author : Charles William Macfarlane
Publisher : Unknown
Page : 346 pages
File Size : 46,6 Mb
Release : 1898
Category : Economics
ISBN : UOM:39015021726008

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Value and Distribution by Charles William Macfarlane Pdf

Author : Theodore Mariolis,Lefteris Tsoulfidis
Publisher : Springer
Page : 242 pages
File Size : 45,6 Mb
Release : 2016-01-13
Category : Political Science
ISBN : 9784431550044

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Modern Classical Economics and Reality by Theodore Mariolis,Lefteris Tsoulfidis Pdf

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 : Jeffrey T. Young
Publisher : Taylor & Francis
Page : 253 pages
File Size : 41,6 Mb
Release : 2023-12-12
Category : Business & Economics
ISBN : 9781003831389

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Adam Smith’s Theory of Value and Distribution by Jeffrey T. Young Pdf

Ever since the time of his early interpreters, beginning with David Hume, Adam Smith’s theory of value has been the subject of confusion and misunderstanding – including a controversy which still rages over whether Smith held a labour theory of value, and, if so, whether he held to it throughout Wealth of Nations, or if it was confined to the “Early and Rude State”? This book provides a close reading of Smith’s key text, and also incorporates material from the other parts of Smith’s oeuvre, especially from The Theory of Moral Sentiments, to yield original and important insights into Smith’s theory of value. The book operates on the assumption that Smith is proposing relatively simple ideas about price and takes a conventional view that simple Supply and Demand models can illuminate, clearly and consistently with his text, his theory of price. Combining these elements, the book argues that, contra Marx, Smith does not have a labour theory of value at all, understood as a theory of the determination of the relative price structure. Instead, Smith is placed squarely in the supply and demand, general equilibrium framework and the claim that he is part of a “surplus tradition”, which receives its highest treatment in the work of Piero Sraffa, is refuted. This book will be of particular interest to Adam Smith specialists, historians of economic thought, and research economists who have an interest in Smith.

Author : George Joseph Stigler
Publisher : Transaction Publishers
Page : 408 pages
File Size : 43,9 Mb
Release : 1994-01-01
Category : Business & Economics
ISBN : 1412831997

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Production and Distribution Theories by George Joseph Stigler Pdf

Production and Distribution Theories became a landmark in the study of economics when it was published in 1941. Nobel Laureate Stigler's book was the first to trace the development of theories alongside the history of economic thought. Stigler's pioneering effort remains a classic work on the evolution of distribution theory during a critical juncture in the development of modern industrial capitalism. Stigler examines the writings of major economists during the century, including William Stanley Jevons, Phillip Wicksteed, Alfred Marshall, F.Y. Edgeworth, and Leon Walras. He uses their works in order to show a variety of perspectives on distribution theory. Among the methods of thought he explores are neoclassical price theory and marginal productivity theory. In the new introduction, Douglas Irwin illustrates how this book came into being and notes its continuing significance to the study of economics. Joseph Schumpeter commented in his History of Economic Analysis that "this excellent work by a competent theorist is perhaps the best survey in existence of the theoretical work of that period's leaders and is strongly recommended." This judgment still stands. The book will be of great interest to those interested not only in neoclassical economics, but also in the sources of Stigler's economic thought.

Author : Theodore Mariolis,Nikolaos Rodousakis,George Soklis
Publisher : Springer Nature
Page : 512 pages
File Size : 40,7 Mb
Release : 2021-05-29
Category : Business & Economics
ISBN : 9789813362604

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Spectral Theory of Value and Actual Economies by Theodore Mariolis,Nikolaos Rodousakis,George Soklis Pdf

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 : Athanasios Asimakopulos
Publisher : Springer Science & Business Media
Page : 258 pages
File Size : 41,8 Mb
Release : 2012-12-06
Category : Business & Economics
ISBN : 9789400926615

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Theories of Income Distribution by Athanasios Asimakopulos Pdf

This book brings together the work of scholars who have written for it independent essays in their areas of particular expertise in the general field of income distribution. The first eight chapters provide a review of the major theories of income distribution, while the final two are con cerned with problems of empirical estimates and inferences. One of these chapters presents estimates of factor shares in national income in the United States, the United Kingdom and Canada, while the other ex amines how relationships between the size distribution of income and economic development are being investigated. A convenient way of conveying an understanding of how economic theorists have dealt with the distribution of income is to examine separ ately each major approach to this subject. Each contributor was thus assigned a particular approach, or a major theorist. No attempt was made to avoid the apparent duplication that occurs when the same references are examined by different contributors. The reader gains by seeing how the same material can be treated by those looking at it from different perspectives. A chapter each has been devoted to Marx and Marshall.

Author : Jeffrey T. Young
Publisher : Unknown
Page : 0 pages
File Size : 42,5 Mb
Release : 2024
Category : Distribution (Economic theory)
ISBN : 1032373024

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Adam Smith's Theory of Value and Distribution by Jeffrey T. Young Pdf

"Ever since the time of his early interpreters, beginning with David Hume, Adam Smith's theory of value has been the subject of confusion and misunderstanding - including a controversy which still rages over whether Smith held a labour theory of value, and, if so, whether he held to it throughout Wealth of Nations, or if it was confined to the "Early and Rude State"? This book provides a close reading of Smith's key text, and also incorporates material from the other parts of Smith's oeuvre, especially from The Theory of Moral Sentiments, to yield original and important insights into Smith's theory of value. The book operates on the assumption that Smith is proposing relatively simple ideas about price and takes a conventional view that simple Supply and Demand models can illuminate, clearly and consistently with his text, his theory of price. Combining these elements, the book argues that, contra Marx, Smith does not have a labour theory of value at all, understood as a theory of the determination of the relative price structure. Instead, Smith is placed squarely in the supply and demand, general equilibrium framework and the claim that he is part of a "surplus tradition", which receives its highest treatment in the work of Piero Sraffa, is refuted. This book will be of particular interest to Adam Smith specialists, historians of economic thought, and research economists who have an interest in Smith"--

Author : Carlo Panico
Publisher : Springer
Page : 238 pages
File Size : 42,7 Mb
Release : 1988-06-18
Category : Business & Economics
ISBN : 9781349091997

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Interest and Profit in the Theories of Value and Distribution by Carlo Panico Pdf