tag:blogger.com,1999:blog-26706564.comments2018-03-17T07:20:05.570-04:00Thoughts On EconomicsRobert Vienneauhttp://www.blogger.com/profile/14748118392842775431noreply@blogger.comBlogger2803125tag:blogger.com,1999:blog-26706564.post-73180829603642275592018-03-17T07:20:05.570-04:002018-03-17T07:20:05.570-04:00Yes, I had such a paper in mind. I struggle to und...Yes, I had such a paper in mind. I struggle to understand Sinha. Sinha does incline me to think that Gargenani might be wrong in thinking of prices of production as centers of gravitational attraction. I like to think of them as of interest anyways.Robert Vienneauhttps://www.blogger.com/profile/00872510108133281526noreply@blogger.comtag:blogger.com,1999:blog-26706564.post-90197987906022889712018-03-12T16:57:54.808-04:002018-03-12T16:57:54.808-04:00I am not too sure. But I think that what you are r...I am not too sure. But I think that what you are referring to is a paper from Eatwell is something about linking Sraffa to the rate of exploitation. Something like e=1-w/w if I am not wrong. What I am thinking about is something more or less like Sinha. At every moment in the economy there is a rate of profit even if there are particular aspects like capital barriers or so. But for a set of prices we have a unique rate of profit. Like Zambelli is trying to show, we can have infinite possibilities for the non-uniform rate of profits for a set of prices but I would like to focus on the special non-uniform rate of profits that correspond to the multipliers of the standard system. Being it that for each technique we can have a set of prices for a uniform rate of profit if we consider the particular non-uniform rates of profits of each industry as a the r (uniform one) multiplied and weight by the standard system multipliers.Sturainoreply@blogger.comtag:blogger.com,1999:blog-26706564.post-83750134701380530102018-03-10T09:38:27.363-05:002018-03-10T09:38:27.363-05:00Thanks. Last weekend I finally downloaded the pape...Thanks. Last weekend I finally downloaded the paper you previously recommended about Cobb-Douglas production functions in a long period analysis. My initial impression is that it was more general than my blog posts, and the math was more elegantly expressed.Robert Vienneauhttps://www.blogger.com/profile/00872510108133281526noreply@blogger.comtag:blogger.com,1999:blog-26706564.post-31134167400183386202018-03-10T09:36:29.746-05:002018-03-10T09:36:29.746-05:00Yes, but not extensively. In this draft, I talk ab...Yes, but not extensively. In this <a href="https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2912181" rel="nofollow">draft</a>, I talk about a need for a normalization condition for markups. I think to preserve Marx's invariants, I also need to adopt the standard commodity as numeraire. You can see something about the standard commodity along these lines in John Eatwell's papers in the 1970s. And some have written on topics along the same lines in examining Sraffa's unpublished notes.Robert Vienneauhttps://www.blogger.com/profile/00872510108133281526noreply@blogger.comtag:blogger.com,1999:blog-26706564.post-19684432552352129802018-03-07T11:58:58.708-05:002018-03-07T11:58:58.708-05:00I posted a comment on David Rucio's "Utop...I posted a comment on David Rucio's "Utopia and trade" in Real-World Economics Review Blog as a reply to your comment. Have you read it?Unknownhttps://www.blogger.com/profile/13536681386880936893noreply@blogger.comtag:blogger.com,1999:blog-26706564.post-66214394576976944952018-03-05T19:23:15.263-05:002018-03-05T19:23:15.263-05:00On Parameters.
https://www.aeaweb.org/conference/...On Parameters.<br /><br />https://www.aeaweb.org/conference/2018/preliminary/1860?q=eNqrVipOLS7OzM8LqSxIVbKqhnGVrJQMlWp1lBKLi_OTgRwlHaWS1KJcXAgrJbESJK9rBhLNzE2FiJZlppaDTCgqKFwwCpgagLQXJKaDZI2UagG_cx6pSturainoreply@blogger.comtag:blogger.com,1999:blog-26706564.post-61297072737293545352018-03-04T17:58:28.394-05:002018-03-04T17:58:28.394-05:00Have you ever thought about markups following the ...Have you ever thought about markups following the trace of the Rejoinder to Napoleoni?<br />http://fuckyeahpierosraffa.tumblr.com/post/49175582409/sraffas-rejoinder-to-napoleoniSturainoreply@blogger.comtag:blogger.com,1999:blog-26706564.post-35523418263369098532018-03-01T18:54:13.942-05:002018-03-01T18:54:13.942-05:00Thanks. I am not sure your author fully takes into...Thanks. I am not sure your author fully takes into account that the measure of capital he proposes is dependent on prices, including the rate of profits. Sraffians have generally been skeptical that a measure of capital with these properties can satisfy the purposes of traditional neoclassical measurements. I'll have to read more to have a more adequate response.<br /><br />I think the author will need to restructure this before he can publish it. He introduces equations before defining the symbols in them. He doesn't need so many examples. He needs more references. I can see writing a working paper with all these examples, though.<br /><br />He could probably reference the Osborne and Davidson paper I argue about in my 2017 ROPE arcticle. They have a proposal for an average period of production. He might look through the references in my various gyrations in my anti-Austrian SSRN articles.Robert Vienneauhttps://www.blogger.com/profile/00872510108133281526noreply@blogger.comtag:blogger.com,1999:blog-26706564.post-29468166988962574262018-02-28T18:57:01.741-05:002018-02-28T18:57:01.741-05:00https://mpra.ub.uni-muenchen.de/84284/1/MPRA_paper...https://mpra.ub.uni-muenchen.de/84284/1/MPRA_paper_84284.pdf<br /><br />Maybe It seems amusing for you.Sturainoreply@blogger.comtag:blogger.com,1999:blog-26706564.post-79552527565568577342018-02-21T05:27:02.252-05:002018-02-21T05:27:02.252-05:00prof premraj pushpakaran writes -- 2018 marks the ...prof premraj pushpakaran writes -- 2018 marks the 100th birth year of Franco Modigliani!!!prof prem raj pushpakaranhttps://www.blogger.com/profile/14561237920972677898noreply@blogger.comtag:blogger.com,1999:blog-26706564.post-77566676182333078312018-02-20T09:30:41.835-05:002018-02-20T09:30:41.835-05:00Hello Robert, your comments are precise, as always...Hello Robert, your comments are precise, as always. However, I think that the heritage of Marx is a mess. For instance, The Capital is partly written by Engels, who lacks the quality of Marx. I am not certain who really wrote "Theories of surplus value". Moreover, the LTV is perhaps less important than the phase model of Marx (historical materialism), at least with respect to politics. And the phase model reminds of the German Historical School. Moreover, the theory of Marx is merely a narrative. He does not supply a validation by means of statistical data. Anyway, I guess that his entire theory (including the LTV) can not be verified. Perhaps our time is better spent on the works of other economists.Emil Bakkumhttp://www.hgdewolff.comnoreply@blogger.comtag:blogger.com,1999:blog-26706564.post-73457675026891526172018-02-19T07:36:44.770-05:002018-02-19T07:36:44.770-05:00Thanks. I think I recall variation in terminology ...Thanks. I think I recall variation in terminology in Marx's manuscripts unpublished in his lifetime, but I guess I do not recall details.Robert Vienneauhttps://www.blogger.com/profile/00872510108133281526noreply@blogger.comtag:blogger.com,1999:blog-26706564.post-91797458868269229722018-02-17T17:00:09.365-05:002018-02-17T17:00:09.365-05:00there is a slight distinction between price of pro...there is a slight distinction between price of production and cost-price; the latter is merely the money price for c+v (later notated K) to the capitalist, before realization of profit in the marketAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-26706564.post-22381063285959863032018-02-11T17:12:00.537-05:002018-02-11T17:12:00.537-05:00I too am working my way through Shaikh's magnu...I too am working my way through Shaikh's magnus opum. Of the other titles listed, Mirowski would appeal to me the most. This preference reflects my own theoretical interests and is not meant to take away from the contributions these other books make to their subjects.Regina Chrishttps://www.blogger.com/profile/12179579340760940179noreply@blogger.comtag:blogger.com,1999:blog-26706564.post-16456461812329444742018-02-10T08:55:40.309-05:002018-02-10T08:55:40.309-05:00Thanks. Seems relevant.Thanks. Seems relevant.Robert Vienneauhttps://www.blogger.com/profile/00872510108133281526noreply@blogger.comtag:blogger.com,1999:blog-26706564.post-20702676854816953422018-02-05T05:04:45.592-05:002018-02-05T05:04:45.592-05:00I think this could be interesting for your analysi...I think this could be interesting for your analysis. <br />http://onlinelibrary.wiley.com/doi/10.1111/meca.12038/fullSturainoreply@blogger.comtag:blogger.com,1999:blog-26706564.post-64817501566644150602018-01-29T04:46:02.086-05:002018-01-29T04:46:02.086-05:00Thank you.
Vicenc MelendezThank you.<br /><br />Vicenc MelendezAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-26706564.post-33125496592453870892018-01-27T09:31:16.948-05:002018-01-27T09:31:16.948-05:00I think neither of you may be taking labor values ...I think neither of you may be taking labor values as given, in my sense. Sturai is outlining Marx's procedure for deriving prices of production from labor values and cases in which it works, or at least, cases in which Marx's invariants hold. Vicenc Melendez-Plumed, presumably anonymous, is doing the same, albeit he is interested in the general case when not all invariants hold.<br /><br />But is it not the case that both of you think of labor values, if an outsider wants to calculate them for some reason, as being derived from conditions of production expressed in physical terms?<br /><br />I think interesting the case where one assumes certain aggregates are of average organic composition of capital. Eatwell offered, in the 1970s, a reading of Sraffa related to Marx through the standard commodity. I don't understand Schefold's recent work to relate to it to this, though I appreciate the point about linear wage curves.<br /><br />Vicenc, I have not absorbed your paper. I found the paragraph around footnote 1 confusing. The use of "standard" in the previous paragraph suggests the Sraffa's standard commodity to me. And even though Sraffa does not mention eigenvalues, he does seem to be calculating eigenvectors in his definition of the standard commodity. But I don't think that is what you are referring to here. I think you want the sum of a Leontief matrix and commodities consumed by workers' for advanced wages.<br /><br />I think Section 6 needs a qualification the Steedman (1977) presents special cases where labour intensity and the working day vary.<br /><br />I am vulnerable to this criticism myself, but I wish the number in the Annex were presented with dimensional units (e.g., tons, person-years per ton, person-years, etc.). <br /><br />I wish I was able to read references in other languages.Robert Vienneauhttps://www.blogger.com/profile/00872510108133281526noreply@blogger.comtag:blogger.com,1999:blog-26706564.post-90064793011218056772018-01-24T06:24:50.323-05:002018-01-24T06:24:50.323-05:00On Sraffian Indeterminacy
https://www.aeaweb.org/...On Sraffian Indeterminacy<br /><br />https://www.aeaweb.org/conference/2018/preliminary/1860?q=eNqrVipOLS7OzM8LqSxIVbKqhnGVrJQMlWp1lBKLi_OTgRwlHaWS1KJcXAgrJbESJK9rBhLNzE2FiJZlppaDTCgqKFwwCpgagLQXJKaDZI2UagG_cx6p Sturainoreply@blogger.comtag:blogger.com,1999:blog-26706564.post-44841962525109985672018-01-23T08:24:00.816-05:002018-01-23T08:24:00.816-05:00Perhaps you would like to comment on my work respe...Perhaps you would like to comment on my work respecting both P. Sraffa and Karl Marx:<br /><br />"Production Prices Systems as derived from Labour Values Systems."<br />Abstract<br />Slightly changing Karl Marx procedure to calculate his production prices by keeping surplus value in the price cost of commodities, allows us to envisage a labour values system as a production prices system. The current industry rates of profit, in labour terms, are used in the calculation of these production prices which will be equalized afterwards. This work presents an alternative approach to calculate production prices and the rate of profit based in the eigenvalue and the eigenvector of the Leontief matrix. This allows us to see production prices systems as derived from labour values systems and keeping them proportional. Only after the industry rates of profit equalization occurs, i.e., when a similar remuneration to all capitals has to be assured, will prices differ necessarily from values. Prices and labour values initially form a unique system from which prices become autonomous.<br /><br />https://mpra.ub.uni-muenchen.de/id/eprint/83908<br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-26706564.post-91714911476163483552018-01-23T05:22:29.441-05:002018-01-23T05:22:29.441-05:00Multiple Matrices of labour values with a Matrix o...Multiple Matrices of labour values with a Matrix of labour coefficients will give the same vector of production prices or a matrix of production prices consisting in the vector of production prices <b>p</b>*I (the identity matrix) but starting with a vector of production prices or <b>p</b>*I will give just a vector of labour values <b>v</b> or V=<b>v</b>*I.Sturainoreply@blogger.comtag:blogger.com,1999:blog-26706564.post-26723708086104982962018-01-23T05:03:42.476-05:002018-01-23T05:03:42.476-05:00What i mean in the last comment is that it is said...What i mean in the last comment is that it is said since Steedman that labour values are redundant because we don't need them to get prices of production and that we can compute them by setting w=1. It is not negated that they can be useful for some analysis focusing on productivity. What I'm thinking is that in your examples with the simple LTV you get the result that for a given vector of labour values and labour coefficients (If I understand it properly) assuming identical organic compositions of capital in each industry we can get an uncountable infinite number of technologies that go. I guess that the same happens if instead of a vector of labour values we use a vector of production prices. But maybe if we go for a matrix of labour coefficients and a matrix of labour values given I think the door can be closed and we can go just in one direction from labour values to prices of production but not the other way around without indeterminacy or at least more indeterminacy than in the "from labour values" case.Sturainoreply@blogger.comtag:blogger.com,1999:blog-26706564.post-89794283187964819472018-01-22T07:09:46.008-05:002018-01-22T07:09:46.008-05:00PS: It would be interesting if considering a matri...PS: It would be interesting if considering a matrix L of heterogenous labour input coefficients would reduce the uncountable infinite technologies satifying the LTV. Also the discrete nature of some inputs like 1 pig and not 3.14159 pigs or 0.5 pigs could reduce the space. Sturainoreply@blogger.comtag:blogger.com,1999:blog-26706564.post-73000557700343717502018-01-22T05:51:20.187-05:002018-01-22T05:51:20.187-05:00I made a mistake...R is the ratio (Aggregate Outpu...I made a mistake...R is the ratio (Aggregate Output - Aggregate Input)/ Aggregate Input or Aggregate Product/ Aggregate Input. There is another special case where even with prices of production deviating from the straight lines connecting the extremes (w=1 and w=0) we can get an exact cancellation of deviations in Big Aggregates being it the Sraffian Standard System. So in the Standard System the three invariant conditions are also met. There are hints in Volume 3 to the Standard System.<br /><br />This is more o less what as just a stur (dy) socialist aficionado I think i got. Sturainoreply@blogger.comtag:blogger.com,1999:blog-26706564.post-32083419161095400002018-01-22T05:19:37.923-05:002018-01-22T05:19:37.923-05:00Starting from the postulate that in big aggregates...Starting from the postulate that in big aggregates (like total output, total input, total product and the division of the product in two parts of equal compositions being Wages and Profits) deviations cancel exactly (in Shefold's case with Big Random Matrices) or approximately ( in Marx's one where I think we could say he is considering the technology of an Empire like UK so maybe not random or squared but actually a good approximation). He continues saying we can take the ratio R as constant and unaffected by distribution. These being the three well known invariant conditions.Sturainoreply@blogger.com