Paul Mattick
... seek “solutions” to economic problems in terms of market phenomena. It all seems quite simple. The periodic shortage of profit which results from the laws of capitalist development appears on the market as a lack of demand, which hinders the expansion of production and so of new investments. When th ...
... seek “solutions” to economic problems in terms of market phenomena. It all seems quite simple. The periodic shortage of profit which results from the laws of capitalist development appears on the market as a lack of demand, which hinders the expansion of production and so of new investments. When th ...
The Philosophical Underpinnings of Production of Commodities by
... Sraffa finds that there is a set of exchange ratios or prices of commodities that “spring directly from the methods of production” which can restore the original distribution of the commodities and make it possible for the system to repeat itself at the same scale. Chapter Two complicates the world ...
... Sraffa finds that there is a set of exchange ratios or prices of commodities that “spring directly from the methods of production” which can restore the original distribution of the commodities and make it possible for the system to repeat itself at the same scale. Chapter Two complicates the world ...
The nature of money
... society’s capacity to get things done, as Keynesian economics emphasizes; but this power can be appropriated by particular interests. This is not simply a question, as it is in much Marxist analysis, of the possession and/or control of quantities of money – the power of wealth. Rather, the actual pr ...
... society’s capacity to get things done, as Keynesian economics emphasizes; but this power can be appropriated by particular interests. This is not simply a question, as it is in much Marxist analysis, of the possession and/or control of quantities of money – the power of wealth. Rather, the actual pr ...
A Short History of Economics As a Moral Science* James E. Alvey
... Pre-Smithian Economics Economic matters have been discussed throughout human history but the notion of an independent science of economics only arose relatively recently, perhaps since the mid-1700s. Until that time economics was generally discussed as a subordinate part of a broader study of politi ...
... Pre-Smithian Economics Economic matters have been discussed throughout human history but the notion of an independent science of economics only arose relatively recently, perhaps since the mid-1700s. Until that time economics was generally discussed as a subordinate part of a broader study of politi ...
Frank Plumpton Ramsey: The Economic Phenomenon Who Died
... (1875–1927), a graduate of Oxford. His brother Michael Ramsey became the 100 Archbishop of Canterbury, which is the highest post in the Church of England, from 1961 to 1974. Frank Plumpton spent nearly all his life in Cambridge, where he developed his academic career. He studied mathematics at Winch ...
... (1875–1927), a graduate of Oxford. His brother Michael Ramsey became the 100 Archbishop of Canterbury, which is the highest post in the Church of England, from 1961 to 1974. Frank Plumpton spent nearly all his life in Cambridge, where he developed his academic career. He studied mathematics at Winch ...
this PDF file - Social Science Spectrum
... itself to the theoretical literature of economic (primarily labour market) discrimination. Key words: discrimination, neo-classical, institutional, Marxian. ...
... itself to the theoretical literature of economic (primarily labour market) discrimination. Key words: discrimination, neo-classical, institutional, Marxian. ...
Debates in Macroeconomics: Monetarism, New Classical
... • Models differ in ways that are hard to standardize. • If people have rational expectations, they are using the true model, but there is no way to know what model is in fact the true one. • There is only a small amount of data available to test macroeconomic hypotheses—only eight business cycles si ...
... • Models differ in ways that are hard to standardize. • If people have rational expectations, they are using the true model, but there is no way to know what model is in fact the true one. • There is only a small amount of data available to test macroeconomic hypotheses—only eight business cycles si ...
Globalization: Evolution of the Capitalist Market Economy Through
... emerge not from within but from without communities. Marx repeats that “exchange of commodity” (commodity trades by money) take places between communities, reflectively penetrate communities and dissolve conventional community-like relations3. Markets takes place outside or between communities and i ...
... emerge not from within but from without communities. Marx repeats that “exchange of commodity” (commodity trades by money) take places between communities, reflectively penetrate communities and dissolve conventional community-like relations3. Markets takes place outside or between communities and i ...
N 15
... bias, and the subordination of positive incentives and markets in Dobb’s scheme were reinforced by his subsequent debate with the American Marxist economist Paul Sweezy, a debate that canonised the misleading theoretical alternative among Marxists between long-distance trade as an exogenous, indepen ...
... bias, and the subordination of positive incentives and markets in Dobb’s scheme were reinforced by his subsequent debate with the American Marxist economist Paul Sweezy, a debate that canonised the misleading theoretical alternative among Marxists between long-distance trade as an exogenous, indepen ...
Introduction - Academy of Economics and Finance
... no universal economic laws that held across different nations, cultures, and times; they rebelled against the “Manchester School’s” insistence on worldwide free trade in light of the universal applicability of comparative advantage.4 Menger, while appreciative of the historicists’ rich empirical res ...
... no universal economic laws that held across different nations, cultures, and times; they rebelled against the “Manchester School’s” insistence on worldwide free trade in light of the universal applicability of comparative advantage.4 Menger, while appreciative of the historicists’ rich empirical res ...
PROD14f_ING
... or make comparisons between countries, for instance. Theoretical economists: Neoclassical, Keynesians or Radical economists also make use of this notion. In contrast, the Marxist theory of labor value is defended by very few even within the field of Marxism itself. This paper points out that whoever ...
... or make comparisons between countries, for instance. Theoretical economists: Neoclassical, Keynesians or Radical economists also make use of this notion. In contrast, the Marxist theory of labor value is defended by very few even within the field of Marxism itself. This paper points out that whoever ...
The Theory of Economic Development
... relating to the fundamental conditions of development - and, although it would be wrong to claim that even now the theory of the subject is complete, there is a substantial body of generalisations which seem to have some bearing both on present problems and past experience. At any rate, it is this f ...
... relating to the fundamental conditions of development - and, although it would be wrong to claim that even now the theory of the subject is complete, there is a substantial body of generalisations which seem to have some bearing both on present problems and past experience. At any rate, it is this f ...
1 Nature and Scope of Economics
... (a) Reliance cannot be placed on accuracy of economic laws as these are based on humans who are unpredictable. (b) Economics does not have controlled experiments (i.e. the conditions are not stable) as a result actual results differ from predicted ones. (c) There is no fixed pattern of human behavio ...
... (a) Reliance cannot be placed on accuracy of economic laws as these are based on humans who are unpredictable. (b) Economics does not have controlled experiments (i.e. the conditions are not stable) as a result actual results differ from predicted ones. (c) There is no fixed pattern of human behavio ...
here
... proposed a model of the feudal mode of production that became the theoretical benchmark for all subsequent debates over the transition from feudalism to capitalism. Dobb followed Marx’s Capital in explaining England’s ‘truly revolutionary path’ to capitalism through class struggle the ‘prime mover’ ...
... proposed a model of the feudal mode of production that became the theoretical benchmark for all subsequent debates over the transition from feudalism to capitalism. Dobb followed Marx’s Capital in explaining England’s ‘truly revolutionary path’ to capitalism through class struggle the ‘prime mover’ ...
Rodney Hilton, Marxism and the transition from feudalism to capitalism
... of technological determinism with the more rigid versions of Stalinist ‘scientific history’ would have given technological explanations a bad press from early on in his life as a committed historian. 12 ‘Bourgeois’ believers were if anything even less sophisticated. As the opening sentence of a fam ...
... of technological determinism with the more rigid versions of Stalinist ‘scientific history’ would have given technological explanations a bad press from early on in his life as a committed historian. 12 ‘Bourgeois’ believers were if anything even less sophisticated. As the opening sentence of a fam ...
New Growth Theory
... technologically advanced firms. Given the stress laid on knowledge and human capital in these models, it comes as a surprise that hardly any attempt was made to clarify whether and how these magnitutes can be measured. Obviously, if and only if they are cardinally measurable can anything be said abo ...
... technologically advanced firms. Given the stress laid on knowledge and human capital in these models, it comes as a surprise that hardly any attempt was made to clarify whether and how these magnitutes can be measured. Obviously, if and only if they are cardinally measurable can anything be said abo ...
Theoretical Approaches to Inequality in Economics and Sociology. A
... the economic system reaches the steady state, the rate of profit tends to nil and the output will be distributed between rents and wages. In the mathematical outline of Ricardo’s analysis, Pasinetti (1977) emphasises the distributive conflict between wages and profit, before the system reaches the s ...
... the economic system reaches the steady state, the rate of profit tends to nil and the output will be distributed between rents and wages. In the mathematical outline of Ricardo’s analysis, Pasinetti (1977) emphasises the distributive conflict between wages and profit, before the system reaches the s ...
economics and philosophy: more than having fun and
... economic tools seem to be utilized in the second study. Yet in fact only the second study squarely belongs to economics proper. That is to say, only the second study was conducted by economists (people trained in economics, working in a department or faculty of economics) and was published in an eco ...
... economic tools seem to be utilized in the second study. Yet in fact only the second study squarely belongs to economics proper. That is to say, only the second study was conducted by economists (people trained in economics, working in a department or faculty of economics) and was published in an eco ...
Exploring Commons Theory for Principles of a Socialist
... socialist governmentality. The first question we address refers to their respective understanding of what the often used term of moving “beyond states and markets” would actually entail. The second discusses ownership and its relation to governance, as well as how self-management at 2One thing that ...
... socialist governmentality. The first question we address refers to their respective understanding of what the often used term of moving “beyond states and markets” would actually entail. The second discusses ownership and its relation to governance, as well as how self-management at 2One thing that ...
Introduction to Economics
... Scarcity concept explains the presence of economic problems. It is concerned with the positive aspect of the subject. Modern economists feel that economist should also suggest, how the scarce means should be further increased to satisfy more wants and attain good living. The propounder of this conce ...
... Scarcity concept explains the presence of economic problems. It is concerned with the positive aspect of the subject. Modern economists feel that economist should also suggest, how the scarce means should be further increased to satisfy more wants and attain good living. The propounder of this conce ...
Power Point Chapter 4
... Companies: Capitalism permits the creation of companies or business organizations that exist separately from the people associated with them. Profit motive: The profit motive implies a critical assumption about human nature – that human beings are economic creatures who recognize and are motivat ...
... Companies: Capitalism permits the creation of companies or business organizations that exist separately from the people associated with them. Profit motive: The profit motive implies a critical assumption about human nature – that human beings are economic creatures who recognize and are motivat ...
Chapter Four
... Companies: Capitalism permits the creation of companies or business organizations that exist separately from the people associated with them. Profit motive: The profit motive implies a critical assumption about human nature – that human beings are economic creatures who recognize and are motivat ...
... Companies: Capitalism permits the creation of companies or business organizations that exist separately from the people associated with them. Profit motive: The profit motive implies a critical assumption about human nature – that human beings are economic creatures who recognize and are motivat ...
CHAPTER VIII
... antecedent, let us first of all recall that, according to Marx’s “law of value” 5, prices are only a transfigured form of values, which are determined by the total amount of labour socially necessary to produce a commodity. Prices in particular sectors will deviate upwards (downwards) from values, ...
... antecedent, let us first of all recall that, according to Marx’s “law of value” 5, prices are only a transfigured form of values, which are determined by the total amount of labour socially necessary to produce a commodity. Prices in particular sectors will deviate upwards (downwards) from values, ...
realistic and systematic abstraction
... However, notwithstanding this apparent methodological weakness, critical realism does claim to offer an ontological account of synthesis based on the key notions of ‘stratification’ and ‘emergence’. Critical realists such as Lawson (2009) claim that the critical realist notion of stratification can ...
... However, notwithstanding this apparent methodological weakness, critical realism does claim to offer an ontological account of synthesis based on the key notions of ‘stratification’ and ‘emergence’. Critical realists such as Lawson (2009) claim that the critical realist notion of stratification can ...
Economist Sheets - Ector County ISD.
... masses – the ‘proletariat’ (the labourers) – provide the labour to produce goods and services. Marx essentially believed that economic systems progress through different stages – capitalism is just one stage in this development process and, due to its weaknesses and flaws, will eventually self-destr ...
... masses – the ‘proletariat’ (the labourers) – provide the labour to produce goods and services. Marx essentially believed that economic systems progress through different stages – capitalism is just one stage in this development process and, due to its weaknesses and flaws, will eventually self-destr ...