Modern Analysis of Value Theory

CHAPTER IV MARX - VON NEUMANN 'S THEORY OF VALUE Introduction. The theory of value based on the system of value equations comes up against a crucial difficulty in a von Neumann economy, unless the additional conditions as discussed in ...

Author: Y. Fujimori

Publisher: Springer Science & Business Media

ISBN: 9783642455438

Category: Business & Economics

Page: 169

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Modern Analysis of Value Theory

This volume studies the development of Marxian value theory in a modernised context.

Author: Y. Fujimori

Publisher: Springer

ISBN: UCAL:B3292042

Category: Business & Economics

Page: 186

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This volume studies the development of Marxian value theory in a modernised context. The controversy about Marx's value theory is now in its third stage. The first stage was marked by Bohm-Bawerk, and the second by Samuelson soon after the World War II. In this second stage, the basic results in Marx's economics were examined and formulated by Okishio and Morishima-Seton in the Leontief economy case. The third stage was opened by Morishima, who developed the Marxian theory of value on the ba~is of von Neumann's theory. In Chapters I through IV, a concise but comprehensive overview of the pOints in Marx's value theory is presented from the Leontief to von Neumann economy cases. Based on the above, the two subjects, namely, the reduction of skilled labour and heterogeneous labour and the Marxian theory of differential rent, are developed in Chapters V and VI respectively. These topics, especially the reduction problem, seem not to have been duly discussed in other literature. The main concern of our discussion, in Chapters I through V in particular, is the so-called fundamental Marxian theorem and the dual dualities, i.e., the duality of price and quanti~y systems on the basis of the duality of value and price. Th. ~uthor also tried to shed light on superhistorical aspects of Marxian vaiue theory, which ought to give a clue to the insight of the commodity production in general. The author acknowledges thanks to Professors S.Koshimura, A.

Spectral Theory of Value and Actual Economies

Herr Eugen Dühring's revolution in science. Progress Publishers, Moscow Fujimori, Y. (1982). Modern analysis of value theory. Berlin: Springer. Garegnani, P. (1984). Value and distribution in the classical economists and Marx.

Author: Theodore Mariolis

Publisher: Springer Nature

ISBN: 9789813362604

Category: Economic history

Page: 512

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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 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.

Marx s Crises Theory

Certainly, Marx's theory of crisis cannot be understood outside of the context of his method of economic analysis, especially the manner in which he developed his treatment of values and prices. Nonetheless, all too often modern ...

Author: Michael Perelman

Publisher: ABC-CLIO

ISBN: 9780275923723

Category: Business & Economics

Page: 250

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The history of capitalism has long been thought to be a sequence of recurring crises that appear in various forms: crises in employing people, crises in obtaining resources, and financial crises. "Marx's Crises Theory: Scarcity, Labor, and Finance" provides a framework for interpreting Marx's theory of crises. In conclusion, the author asserts that as long as the financial structure leads to periodic breakdowns, Marx's writings on the subject will retain their importance as a source of theory and analysis of the dynamics of political economy.

Value Exploitation and Class

Flaschel , P. , 1983b , " Actual labor values in a general model of production , " Econometrica 51 , 435-454 . 25. Fujimori , Y. , 1981 , Modern Analysis of Value Theory , University of Josai Publishing . 26.

Author: John E. Roemer

Publisher: Psychology Press

ISBN: 0415269857

Category: Business & Economics

Page: 112

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John E. Roemer, one of the founders of analytical Marxism, draws on contemporary mathematical economics to put forward a refined extension of the Marxian theory of exploitation, labour value and class.

A History of Economic Theory

... (1982) Modern Analysis of Value Theory, Berlin: Springer-Verlag. Goodwin, R.M. and L.F. Punzo (1987) The Dynamics of a Capitalist Economy, Cambridge: Polity Press. Kurz, H.D. (1978) 'Rent theory in a multisectoral model', ...

Author: Aiko Ikeo

Publisher: Routledge

ISBN: 9781134081448

Category: Business & Economics

Page: 240

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Few economists have been as prolific and wide-ranging as Takashi Negishi. Part of the "Hicksian" generation of Neo-Walrasian general equilibrium theorists, Negishi rose to prominence during the early 1960s with his work on the Neo-Walrasian system. Negishi's signature has been his attempt to extend the multi-market Neo-Walrasian system in several directions to incorporate concerns such as imperfect comptetition, stability, money, trade and unemployment - and, as a consequence, helping to discover and delineate the limits of conventional theory. This collection in honour of Takashi Negishi analyses his contributions to the history of economic theory. Economists paying tribute within this volume include Neri Salvadori, Laurence Moss, and Joaquim Silvestre.

Value Exploitation and Class

Flaschel, P., 1983b, “Actual labor values in a general model of production,” Econometrica 51, 435—454. Fujimori, Y., 1981, Modern Analysis of Value Theory, University of Josai Publishing. Hirschman, Albert 0., 1981, “Morality and the ...

Author: J. Roemer

Publisher: Taylor & Francis

ISBN: 9781136463266

Category: Business & Economics

Page: 104

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John E. Roemer, one of the founders of analytical Marxism, draws on contemporary mathematical economics to put forward a refined extension of the Marxian theory of exploitation, labour value and class.

Production Distribution and Trade

Bródy, A. (1970), Proportions, Prices and Planning: A Mathematical Restatement of the Labor Theory of Value, Budapest, Akadémiai Kiadó. Fujimori, Y. (1982), Modern Analysis of Value Theory, Berlin, Springer-Verlag.

Author: Adriano Birolo

Publisher: Routledge

ISBN: 9781136948473

Category: Business & Economics

Page: 401

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This collection brings together significant new contributions to the Sraffa--based theories of production and distribution, from post-Keynesian arguments concerning monetary and macro economics to the history of thought and methodology. All of the authors are well established authorities in their field, and in this book they add stimulating and original pieces of analysis to the contemporary literature. Production, Distribution and Trade is divided into three parts. The first explores analytical issues in production and exchange theory, the second examines Postkeynesian Macroeconomics and the final part includes essays on the history of economic thought and methodology. This collection has been written in honour of Sergio Parrinello and is a fitting tribute to his untiring efforts to stimulate discussion among Classicists, Marxists, Postkeynesians, and Evolutionists. The book is a clear and convincing attempt to prove that an alternative paradigm to mainstream economics is alive and thriving and to argue that these perspectives shed better light on current economic problems, both as diagnosis and in terms of policy conclusions. The book will be of interest to Economics postgraduate students and researchers working in the Classical and Postkeynesian tradition.

Optimal Dynamic Investment Policies of a Value Maximizing Firm

... Economic Theory of Public Enterprise VII, 142 pages 1981 Vol 189 AP Luthi, Messung wirtschaftlicher Ungleichheit EX ... Redundancy in Mathematical Programming Vil, 286 pages 1983 Vol 207 Y Fujimor, Modern Analysis of Value Theory X, ...

Author: Peter M. Kort

Publisher: Springer Science & Business Media

ISBN: 9783642489044

Category: Business & Economics

Page: 185

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1.1. Scope of the Book This book is a contribution to the area of "dynamic models of the firm". The motivation for this kind of research is the following: Empirical studies (e.g. Albach (1976)) have shown that the development of the firm over time can be divided into different stages. such as growth. stationarity and contraction. In order to understand and evaluate these stages in a proper way. it is important to develop a suitable theoretical framework. To that end. economists have applied dynamic mathematical techniques. such as optimal control theory. calculus of variations and dynamic programming to design and analyse dynamic models of the firm. In this way. the economic theory of the firm is extended to a dynamic context. Within the field of the dynamics of the firm this book - develops a general investment decision rule. based on the concept "net present value of marginal investment". which is applicable in deterministic dynamic models of the firm; - studies the influence of adjustment costs of investment on optimal dynamic firm behavior; - extends the stochastic dynamic theory of the firm by connecting it with a dynamic version of the Capital Asset Pricing Model. Before elaborating on "the dynamics of the firm". we first review the subject of net present value in the classical analysis.