By Paul Dunne
This e-book seeks to set up a optimistic and important interplay among empirical information and study equipment, at the one hand, and Marxist concept and research, at the different. It indicates that it really is attainable to operationalise Marxist ideas both by utilizing orthodox info and reinterpreting it, or through developing facts that are extra congruent with Marxist notions. The contributions take care of quite a lot of theoretical, methodological and policy-related matters. one of the great matters mentioned are unemployment and structural swap, asymmetric improvement and business restructuring, and the monetary region. Quantitative Marxism could be of curiosity to scholars and lecturers in economics and political economic climate, in addition to to a broader viewers drawn to modern social and financial coverage.
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Extra info for Quantitative Marxism
Example text
1. INTRODUCTION In this chapter we are concerned with how an understanding o f value theory should inform empirical work. This is a difficult issue, because virtually every controversy within Marxist economics is at bottom a controversy concerning the nature and status of value theory. Recent work has rendered this foundation quite explicit, culminating in the proposition that the retention of value theory is a positive hindrance to the materialist analysis of capitalism. This has been particularly force fully argued by Steedman (1977), who has presented the criticisms of Marxian value theory as a m atter of irrefutable logic.
0 per cent over the period. 4 per cent in 1970-5. 02 per cent). By and large ROC is numerically not very im portant between phases o f a cycle or within and between cycle. For bibliographical completeness I should also mention the work of Chung (1981). There is much more in W eisskopf’s long paper than I have described here. It is clearly a fruitful source for much further research. There had been previous work in this area by Glyn and Sutcliffe (1971, 1972) which concentrated on the RSL explanation.
In the light of my earlier observations about the price value calculation in static models, this is clearly o f interest. A nother strand is a very recent revival o f interest in classical dynamics. Thus the deviation o f market prices from the prices of production, o f the sectoral profit rate from the equilibrium profit rate or o f output from demand can all be modelled in terms o f dual dynamic systems (Semmler, 1986; Dumenil and Levy, 1987). These models correspond to G oodw in’s system in their mathematical structure and can be used as a theoretical starting point for empirical work.