tag:blogger.com,1999:blog-26706564.comments2021-01-10T13:12:53.024-05:00Thoughts On EconomicsRobert Vienneauhttp://www.blogger.com/profile/14748118392842775431noreply@blogger.comBlogger3036125tag:blogger.com,1999:blog-26706564.post-39898345092238053412021-01-10T13:12:53.024-05:002021-01-10T13:12:53.024-05:00Just to give you and example of the ink I share a ...Just to give you and example of the ink I share a documentary from 2014. <br /><br />https://www.youtube.com/watch?v=krUuTBe0-og&list=PLVUa6TIGm-qPDVRaRjczW-UHdEnjQJnJxAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-26706564.post-67315698718014797212021-01-10T12:55:52.606-05:002021-01-10T12:55:52.606-05:00About our Spanish Hero tons of ink has been spille...About our Spanish Hero tons of ink has been spilled all over the places and the general result has been a society going through a calamari attack. Definitely the operation was a complete success as it managed to stabilized the Monarchy in Spain. The result was a win-win scenario for Juan Carlos if we comment that the coup had the finality of establishing a National Unity government with ministers from all parties, Communists included with Economy and Labor Relations as their ministries. The head of that government was given the Key nickname The White Elephant and was the tutor and later aide from the king himself General Alfonso Armada. At the end the Coup went into a catastrophic spiral when the leader of the military the took the Congress was given the list and read that there were ministers from the Socialist and the Communist Parties. Finally the King appeared late at passed midnight on the only tv channel that existed with his historical message. Implicated peopled spent less than 5 years in prison and a tupid veil covered the topic until recent years when the censorship at the press on monarchy affairs was relaxed. Various attempts have been made during the last lustra to change the State Secret's Law in order to unclassify that period but were blocked by the ruling party of time. Today the King is on exiled in Abu Dabi after some investigations by the Switzerland 's Justice on Money Fraud that we came to now only after it appeared on French and British press.<br /><br />On the other way the main point of your post was correct. Detaching the rule of the army from the democratic elected representers can have positive feedbacks when a elected politician wants to trespass the red line.sturainoreply@blogger.comtag:blogger.com,1999:blog-26706564.post-54146649773236830942021-01-10T12:28:58.683-05:002021-01-10T12:28:58.683-05:00In that book which is a greatest hits of his previ...In that book which is a greatest hits of his previous papers there are two contributions that could interest you. One is https://www.jstor.org/stable/1911113?seq=1 that you can get it from sci-hub if you want and the other one is an extension of the former https://ageconsearch.umn.edu/record/225915/files/agecon-ucdavis-79-114.pdf in which the topic of differential rates is explicitly taken. The outcome is two cases where unequal rates are obtained. <br /><br />There are also two contributions by Steedman on that topic. The first one is the contribution as such https://doi.org/10.1111/j.1467-9957.1984.tb00774.x and the second is a popurri from all the sraffian literature on gravitation that appear at the short-lived magazine Policial Economy as part of the final issue of the journal as a special symposium on Gravitation http://www.centrosraffa.org/PoliticalEconomy_1990_vol6_n1-2.aspx there Steedman makes some important points from which I find special point 2 Choice of Technique.<br /><br />I suggest not to run into the woods.<br /><br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-26706564.post-38152282328844250452021-01-04T12:49:27.822-05:002021-01-04T12:49:27.822-05:00One would wonder about using the Standard Commodit...One would wonder about using the Standard Commodity as the numeraire or seen the other way around reducing the actual system to a Standard one.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-26706564.post-3479896723551150242020-12-27T11:43:37.124-05:002020-12-27T11:43:37.124-05:00Robert Vienneau’s comment is out of track. It is t...Robert Vienneau’s comment is out of track. It is the usual game of attributing false statements to the counterparty. The false statement attributed to my paper is that, at a switch point between two techniques of production, “the price of a ton of iron be equal to the price of a ton of tin”! By contrast, I recalled Sraffa’s (1960, p. 98) statement that <br /><br />“two different methods of producing the same basic commodity can only co-exist at the points of intersection (that is to say, at those rates of profits at which the prices of production by the two methods are equal)."<br /><br />What I instead stated by quoting Sraffa is completely different from Vienneau’s reading of my words, that is, at a switch point between two techniques, the price of a ton of iron is the same with both techniques, and the price of a ton of tin is the same with both techniques.<br /><br />Unfortunately, the comment goes further. It wonders how so many authors are found to be mistaken, and it wonders why Samuelson’s (1966) has not been mentioned in my paper. The reason is simpler than what is implied. Space limitations of my paper led me to discuss only intersectoral models such as those considered throughout Sraffa’s (1960) book, except his chapter 6, where an intertemporal model is considered. The intertemporal model is indeed discussed in my other paper entitled “Refuting Samuelson’s (1966) capitulation in the Cambridge controversy on capital theory”.<br /><br />Vienneau’s comment ends by mentioning several direct methods proposed in the literature for analysing the choice of techniques and asks: “are all these approaches in error?" Let me summarize my conclusion on the Sraffian approaches. All these approaches fail to recognize that the return of techniques is the consequences of the return of the ranking in relative input prices over the feasible range of real wage (or interest rate). Sraffa and almost all his followers failed to see the key concept of “rental prices of capital goods”. This is surprising since the rental prices of capital goods are, nevertheless, always present in their models as well as in the neoclassical models of cost and production functions. <br /><br />The rental prices are non-linearly related to the interest rate (or profit rate) so that they may return to previous levels as the latter changes. It is, in fact, the rental price of a capital good relative to labour wage that is equal to the ratio of respective (negative) marginal factor productivities, rather than rate of interest relative to labour wage. And the Sraffian reduced form of the real wage-interest frontier is a counterfeit imitation of the correct concept of real factor-price frontier (and even Samuelson, 1966 has been driven into this oversight).<br /><br />The return of rental prices relative to labour wage over the range of the interest rate is the movement that explains the apparent phenomenon of reswitching of cost-minimizing techniques over the range of interest rate or real labour wage. But this reswitching phenomenon disappears in the coordinate space of rentals relative to wage, thus confirming the validity of the pure marginalist theories of factor rewards, in full contradiction of the Sraffians’ oversight.<br /><br />REPLY POSTED BY CARLO MILANA, 27 December 2020.<br />Carlo Milana, Birkbeck College, University of Londonhttps://www.blogger.com/profile/02853975161405579611noreply@blogger.comtag:blogger.com,1999:blog-26706564.post-86913464266893111222020-12-22T06:30:05.162-05:002020-12-22T06:30:05.162-05:00What I think could help to understand phenomena wo...What I think could help to understand phenomena would be to reduce from Alpha, Beta and Gamma to just Alpha and Beta and see how the 11 regions are reduced. Also, in order to make it more publishable I would definitely go for constant efficiency in the line of a Note to Steedman's 2020.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-26706564.post-22317910039308679572020-12-15T07:42:46.451-05:002020-12-15T07:42:46.451-05:00I would try to generalise this example to obtain e...I would try to generalise this example to obtain equal proportions and equal proportions with constant efficiency of machines, even if that swipes truncation away.Sturainoreply@blogger.comtag:blogger.com,1999:blog-26706564.post-22934815681587263022020-12-14T08:29:39.929-05:002020-12-14T08:29:39.929-05:00Looking at this example one would wonder about the...Looking at this example one would wonder about the depreciation of machines. Specifically if depreciation is radioactive or just decreasing if it is linear or monotonic as well as non monotonic and age-dependent or independent from the capital-labour ration. The use of exponential decreasing of inputs also would give rise to snapshots with constant efficiency as well as equal proportions. In these particular Region 4 looks like a candidate for equal proportions but not just that exponential function can be tweaked to give continuous equal proportions of differential rates of radioactive depreciations.<br /><br />https://www.deepdyve.com/lp/wiley/depreciation-of-machines-of-changing-efficiency-a-note-W17V4n4w29?articleList=%2Fsearch%3Fquery%3Dian%2Bsteedman%26sort%3Doldest<br /><br />https://books.google.es/books?hl=en&lr=&id=CQayCwAAQBAJ&oi=fnd&pg=PA65&ots=nou8O4_V4J&sig=j5p1XCid3crVz9U6zQtxcyOwK2Q&redir_esc=y#v=onepage&q&f=false<br /><br />https://www.deepdyve.com/lp/springer-journals/durable-capital-inputs-conditions-for-price-ratios-to-be-invariant-to-MjI9KqqX0o?articleList=%2Fsearch%3Fquery%3Dsamuelson%2Bcapital%2Bdurable<br /><br />https://www.deepdyve.com/lp/springer-journals/durable-capital-inputs-conditions-for-prices-ratios-to-be-invariant-to-xnSvaGrQkJ?articleList=%2Fsearch%3Fquery%3Dsamuelson%2Bcapital%2Bdurable<br /><br />https://www.deepdyve.com/lp/wiley/differential-depreciation-and-the-2-2-model-of-distribution-pricing-OeA8OfCWIF?articleList=%2Fsearch%3Fquery%3Dian%2Bsteedman%26page%3D3%26sort%3DoldestAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-26706564.post-87629709574875693712020-12-03T07:22:18.721-05:002020-12-03T07:22:18.721-05:00https://twitter.com/maxdantoni/status/133377640773...https://twitter.com/maxdantoni/status/1333776407730810881?s=20Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-26706564.post-702942909361060432020-11-30T06:39:54.981-05:002020-11-30T06:39:54.981-05:00A justification for the institutional framework on...A justification for the institutional framework one can think about 3 different case for the differential wages. First a Trumpian Economy where black men are segregated from white men and each group works on a sector and there is a race gap in salaries. Another case would be an Opus Dei Economy where women and men are segregated and there is a gender gap in wages. Finally we can think about a Heteropatriarchal Economy where single men work on one sector and married men work on the other with higher salaries for the married ones.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-26706564.post-59757376526966959132020-11-30T05:55:46.775-05:002020-11-30T05:55:46.775-05:00Just to be concrete. A post could be entitled Fluk...Just to be concrete. A post could be entitled Fluke Switch Points At Both The Maximum Wage And The Maximum Rate Of Profits On A One-Commodity Minimum Fixed Capital Model. This one-commodity fixed capital model would be a model with widgets with a maximal life of 1 year so that the technique set is reduced to Alpha and Beta, no Gamma exists at the minimum fixed capital model. Then without more complications one could obtain a pattern for a switch and could work on the parameters to move the switchpoint up to the wage axis and down to the rate of profits axis. One could study when the switchpoint is at negative rates of profits or at negative wage rate and in other words outside of the first quadrant. If we introduce one last complication as different wages for alpha and beta then we can work on the newborn switchpoint to move it with a variation of the parameters to have one at the wage axis and the other at the profit rate one.<br /><br />PS: With the corn-tractor minimum fixed capital model instead of having different wages for alpha, beta and gamma one can have differential rates of profits and play with the parameters to obtain a fluke with a three-technique pattern at the wage axis and another three-technique pattern at the rate of profits axis.<br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-26706564.post-70530555832755970552020-11-30T05:31:32.490-05:002020-11-30T05:31:32.490-05:00Another stream of thought would be reducing at bot...Another stream of thought would be reducing at both the one commodity and the two commodity model from a two year widget or machine to just a one year old ones. And to see there the taxonomy for both models. At the case of a corn-tractor model an analogy of this post would be obtained. At the case of a corn-widget model the analogous of this post would be a A Two-Technique pattern over the wage axis. The motto would be the possibility of reswitching at the modified corn-tractor model without 2 year old tractors but the impossibility of reswitching at the modified corn-widget model without 2 year old widget. Just to finish I would like to comment how a non-unique wage rate at the corn-widget model could bring reswitching to the 1 year old one.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-26706564.post-71116622795439690572020-11-29T06:09:47.825-05:002020-11-29T06:09:47.825-05:00It seems like there is a taxonomy of switch points...It seems like there is a taxonomy of switch points. In the case of one commodity with fixed capital if there is a triple switch then there is an impossibility of other switches. If the switch for the one commodity model is double then there is a possibility for another double switch with alternation. It looks like the one commodity model being a prototype for exploring the more complex two commodity with fixed capital case. At the two commodity case we see the same for the quadruple switch as what we see for the triple one on one commodity model being it the exclusion of other switches. For the triple switch on the two commodity model we can see a situation where there is no switch in between two triple alternating switches at both axis. With alternating switches I means for example a switch with alpha and beta and the other with beta and gamma or in the two commodity case at one axis alpha beta and gamma and at the other beta gamma and delta. I also would find interesting how the openness of the unique rate of profits or wage rate could enrich the taxonomy opening space for quadruple switch points at both axis or in-between switch points for the triple switching case. Sturainoreply@blogger.comtag:blogger.com,1999:blog-26706564.post-81789813525796395232020-11-28T10:07:52.539-05:002020-11-28T10:07:52.539-05:00I see this post in connection with Fluke Switch Po...I see this post in connection with Fluke Switch Points At Both The Maximum Wage And The Maximum Rate Of Profits' post. It would be interesting to see if at the former one can see a Three-Technique patter over both axis and if at the later one can see not Two-Technique patters but also Three-Technique patterns over both axis without a technique being dominated for all rates as it seems in that post.<br />Sturainoreply@blogger.comtag:blogger.com,1999:blog-26706564.post-91758425441130859592020-11-26T09:02:42.402-05:002020-11-26T09:02:42.402-05:00I am not sure I fully understand this. In my explo...I am not sure I fully understand this. In my exploration of joint production, I plan on first perturbing coefficients of production. But markups could differ between industries, as I have been exploring in single production.Robert Vienneauhttps://www.blogger.com/profile/00872510108133281526noreply@blogger.comtag:blogger.com,1999:blog-26706564.post-5138951041808196642020-11-23T20:42:01.784-05:002020-11-23T20:42:01.784-05:00This comment has been removed by a blog administrator.Thaj Shapcotthttps://www.blogger.com/profile/12545981221827138124noreply@blogger.comtag:blogger.com,1999:blog-26706564.post-71915050399974641532020-11-22T13:27:38.497-05:002020-11-22T13:27:38.497-05:00I find this pattern for requirements of use motiva...I find this pattern for requirements of use motivating. Instead of focusing in the indeterminacy of prices of production one could talk about an indeterminacy of markups on the rate of profit. It would be interesting to study more closely this pattern where for all feasible rates of profits within the extremes this indeterminacy happens. But above that a complete bouleversement is the possibility of obtaining a case where the average and the maximal rate of profit for a given wage rate (not 0) coincide. Maybe with the same vector of prices.Sturainoreply@blogger.comtag:blogger.com,1999:blog-26706564.post-70393427579502712422020-11-19T08:22:03.700-05:002020-11-19T08:22:03.700-05:00Try any of these for Glen Weyl:
A war production b...Try any of these for Glen Weyl:<br />A war production board for coronavirus testing - https://www.bostonglobe.com/2020/04/14/opinion/war-production-board-coronavirus-testing/<br /><br />How a Crypto Guru Shaped Harvard’s Roadmap for Reopening the US Economy - https://www.coindesk.com/how-a-crypto-guru-shaped-harvards-roadmap-for-reopening-the-us-economy<br /><br />Get paid for your data? - https://www.usatoday.com/story/news/2019/03/03/get-paid-your-data-californias-governor-says-yes-but-critics-wonder-if-penalizes-poor-and-alienates/3022249002/<br /><br />Should people be paid for sharing their data online? - https://www.japantimes.co.jp/news/2019/11/14/business/tech/people-paid-sharing-personal-data-online-one-microsoft-employee-says-people-fooled-handing-data-free/#.Xc98yldKiMo<br /><br />Colorado Tried a New Way to Vote: Make People Pay—Quadratically - https://www.wired.com/story/colorado-quadratic-voting-experiment/<br /><br />Quadratic Voting: “the Intensity of Preference” - https://cryptobloxz.com/2019/08/19/quadratic-voting-the-intensity-of-preference/<br /><br />AI is an Ideology, Not a Technology - https://www.wired.com/story/opinion-ai-is-an-ideology-not-a-technology/<br /><br />The Economist’s books of the year - Radical Markets - https://www.economist.com/books-and-arts/2018/12/01/the-economists-books-of-the-year<br /><br />The Changemaker: Glen Weyl - https://www.coindesk.com/the-changemaker-glen-weyl-puts-his-big-ideas-into-action<br /><br />How Market Design Economists Helped Engineer a Mass Privatization of Public Resources - https://promarket.org/2020/05/28/how-market-design-economists-engineered-economists-helped-design-a-mass-privatization-of-public-resources/<br /><br /><br />ProjectSpeakerhttps://www.blogger.com/profile/01209081359427462906noreply@blogger.comtag:blogger.com,1999:blog-26706564.post-39233331142359940952020-11-19T05:28:41.976-05:002020-11-19T05:28:41.976-05:00Triple switches on the axis.Triple switches on the axis.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-26706564.post-62562011496961795802020-11-16T06:04:42.905-05:002020-11-16T06:04:42.905-05:00Fluke triple switch points?Fluke triple switch points?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-26706564.post-86622708661304945462020-11-08T14:25:38.840-05:002020-11-08T14:25:38.840-05:00Thank you for the explicative comment. I was searc...Thank you for the explicative comment. I was searching yesterday for topics on Fixed Capital and I bumped into this from old Steedman that it seems to me like an old version of the 2020 paper in different clothing: https://link.springer.com/chapter/10.1007/978-1-349-04127-5_3<br />https://books.google.es/books?hl=en&lr=&id=CQayCwAAQBAJ&oi=fnd&pg=PA65&ots=nou4X5-S_O&sig=WVsmtIQVAMX7AjcfjB9YpQcgHww&redir_esc=y#v=onepage&q&f=false<br /><br />On the other hand I also found a paper from Samuelson that seems like a reaction to that critique from Steedman's attack on the Fixed Capital. Samuelson uses the Fixed Capital case to suggest that if we abandon radioactive exponential depreciation our holy Standard Commodity ceases to exist. I find it very interesting.<br />https://books.google.es/books?hl=en&lr=&id=fGdijAc5oNoC&oi=fnd&pg=PA167&ots=wKWu9IUV3v&sig=x6rU19s76yAGhs9UsIPPAACCT3A&redir_esc=y#v=onepage&q&f=false<br /><br />Just to conclude I talked about the equal proportions because I saw in this post the reference to a case where "albeit what happens if the coefficients of production are the same in the two sectors" as being a special case of equal proportions.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-26706564.post-56642259819493086072020-11-08T12:41:19.996-05:002020-11-08T12:41:19.996-05:00Presumably, the latest Steedman paper is "Fix...Presumably, the latest Steedman paper is "Fixed capital in the corn-tractor model". This is the Samuelson-Garegnani model with depreciation done correctly. As is Steedman's wont, he has lots of homework problems that could do with some graphs.<br /><br />I tend to worry about real Wicksell effects than price Wicksell effects. When I make comments about variations in output per person-year, I am implicitly drawing a conclusion about real Wicksell effects. It is surprising how complicated simple fixed capital models are and how room for research still exists here.<br /><br />Doing my thing with perturbing coefficients of production would be appropriate here. And it would fit into my current exploration of fixed capital. One attribute of these simple models that I have been exploring is that I end up solving at most quartic polynomial equations. I use numeric methods to find fluke switch points. With Steedman's model, I would need to use numeric methods to even find the maximum rate of profits for a technique, I think. An extensive spreadsheet would probably not be enough.<br /><br />I think I will put this off for a while more.Robert Vienneauhttps://www.blogger.com/profile/00872510108133281526noreply@blogger.comtag:blogger.com,1999:blog-26706564.post-19105045757560620542020-11-07T05:23:02.169-05:002020-11-07T05:23:02.169-05:00About using as a modern tool of analysis the Capit...About using as a modern tool of analysis the Capital-Output per industry it is interesting to see the differences between a model of Simple Production with equal coefficients and a model of Fixed Capital with equal coefficients. Capital-Output in the first is thought to follow a linear relation but nothing has been said about in the second model.<br /><br />https://www.econstor.eu/bitstream/10419/158845/1/wp0001.pdfAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-26706564.post-25406220545560076502020-11-06T14:59:38.120-05:002020-11-06T14:59:38.120-05:00I would encourage you to investigate the case with...I would encourage you to investigate the case with equal proportions as an extension of Steedman's latest paper. Also following the Steedmanite trend of using capital/output ratios would be a good appendix. Best regards.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-26706564.post-9248517190284727232020-10-31T12:41:25.223-04:002020-10-31T12:41:25.223-04:00AWESOME! thanks for these references -- I was thi...AWESOME! thanks for these references -- I was thinking about doing a reading course on the CCC, BUT this should give me a good start. I think that some non-bastard Keynesian should make a Coursera or Udemy course on the CCC and also the theory of the 2nd best.Marian Rucciushttps://www.blogger.com/profile/12104215453386195003noreply@blogger.com