This work is dedicated to Wassiliy Leontief’s concepts of Input-Output Analysis and to the algebraic properties of Piero Sraffa's seminal models described consequently by matrix algebra and the Perron-Frobenius Theorem. Detailed examples and visualizing graphs are presented for applications of various mathematical methods.
This work is dedicated to Wassiliy Leontief’s concepts of Input-Output Analysis and to the algebraic properties of Piero Sraffa's seminal models described consequently by matrix algebra and the Perron-Frobenius Theorem. Detailed examples and visualizing graphs are presented for applications of various mathematical methods.
This unique book on commutative algebra is divided into two parts in order to facilitate its use in several types of courses. The first introductory part covers the basic theory, connections with algebraic geometry, computational aspects, and extensions to module theory. The more advanced second part covers material such as associated primes and primary decomposition, local rings, M-sequences and Cohen-Macaulay modules, and homological methods.
The financial crisis and the economic crisis that followed triggered a crisis in the subject of economics, as it is typically being taught today especially in macroeconomics and related fields. A renewed interest in earlier authors, especially the classical economists from Adam Smith to David Ricardo and John Maynard Keynes, developed. This book may also be seen as a response to this interest. What can we learn from the authors mentioned, what we could not learn from the mainstream? This volume contains a selection of essays which deepens and widens the understanding of the classical approach to important problems, such as value and distribution, growth and technical progress, and exhaustible natural resources. It is the fourth collection in a row and reflects an on-going discussion of the fecundity of the classical approach. A main topic of the essays is a comparison between the classical approaches with modern theory and thus an identification of what can be learned by elaborating on the ideas of Smith and Ricardo and Marx above and beyond and variously in contradiction to certain mainstream view. Since the work of Piero Sraffa spurred the revival of classical economic thought, his contributions are dealt with in some detail. The attention then focuses on economic growth and the treatment of exhaustible resources within a classical framework of the analysis.
This book aims to show how Sraffa's theoretical contributions could be pursued in new directions, in effect providing an alternative paradigm to the postclassical economic theory and challenging the persistent dominance of a widespread economic culture based on that theory.
This book provides a point-by-point comparison of Sraffian and Marxian treatments of prices, profits, technological change, economic crises, environmental sustainability, and the moral case against capitalism, are presented in six core chapters. They explain how the Sraffian treatment surpasses the Marxian treatment in every case. Large professional literatures are thoroughly referenced throughout, with both Marxian and Sraffian theories presented in a highly accessible way. This book is of great importance to those who study Sraffa and Marx, as well as academics and students who are interested in political economy, history of economic thought and economic theory and philosophy.
This book presents a comprehensive account of more than 200 years of controversy on the classical theories of value and distribution. The author focuses on four, perhaps most critical classics — Adam Smith’s Wealth of Nations, David Ricardo’s Principles of Political Economy, Karl Marx’s Capital and Piero Sraffa’s Production of Commodities by Means of Commodities. The book highlights several significant differences in the widely celebrated theories of the four authors as it searches for the ‘classical standpoint’ that separates them from the ‘moderns’. It also challenges canonical interpretations to analyse their flaws and weaknesses, in addition to the already obvious strengths, and critically engages with the major alternative interpretations and criticisms of the theories. With a new Afterword that follows up on the debates and developments since the first edition, this book will appeal to scholars and academics of economic theory and philosophy, as well as to the general reader.
This book focuses on the interrelationship between nature and the human economy. Building upon his decades of research into classical and Keynesian economics, Tony Aspromourgos here turns his attention to the interrelationship between nature and the human economy. The result is a tightly argued, concise but comprehensive interpretation of that vital issue, undertaken in the framework of a Classical-Keynesian synthesis. The classical dimension is utilization of a surplus approach to production and distribution, and the Keynesian dimension, incorporation of demand-side determination of economic activity levels and growth. In this conception the human economy is understood as a circular flow but an incompletely circular system: crucially dependent upon nature both as a source of finite non-renewable and exhaustible resources for human production and consumption and as the destination or ‘sink’, also finite, for the waste and pollution from that production and consumption. This is an introductory account of the subject, providing maximum accessibility by presupposing only basic knowledge of economic analysis and only elementary algebra, but including a wide-ranging guide to further and more advanced relevant literature. Part I provides a comprehensive overview of the Classical-Keynesian approach, in the usual manner of economic analysis, without systematic incorporation of nature. Part II then incorporates the various dimensions of the natureeconomy interrelationship. This book will be of great interest to readers of economic theory, economics and the environment, and heterodox economics.
Essays that pay tribute to the wide-ranging influence of the late Herbert Simon, by friends and colleagues. Herbert Simon (1916-2001), in the course of a long and distinguished career in the social and behavioral sciences, made lasting contributions to many disciplines, including economics, psychology, computer science, and artificial intelligence. In 1978 he was awarded the Nobel Prize in economics for his research into the decision-making process within economic organizations. His well-known book The Sciences of the Artificial addresses the implications of the decision-making and problem-solving processes for the social sciences. This book (the title is a variation on the title of Simon's autobiography, Models of My Life) is a collection of short essays, all original, by colleagues from many fields who felt Simon's influence and mourn his loss. Mixing reminiscence and analysis, the book represents "a small acknowledgment of a large debt." Each of the more than forty contributors was asked to write about the one work by Simon that he or she had found most influential. The editors then grouped the essays into four sections: "Modeling Man," "Organizations and Administration," "Modeling Systems," and "Minds and Machines." The contributors include such prominent figures as Kenneth Arrow, William Baumol, William Cooper, Gerd Gigerenzer, Daniel Kahneman, David Klahr, Franco Modigliani, Paul Samuelson, and Vernon Smith. Although they consider topics as disparate as "Is Bounded Rationality Unboundedly Rational?" and "Personal Recollections from 15 Years of Monthly Meetings," each essay is a testament to the legacy of Herbert Simon—to see the unity rather than the divergences among disciplines.
