Thoughts On Economics

Barkley Rosser , David Ruccio , and Matias Vernengo have obituaries. I find I had not known much about Lee's life. I have been influ...

I was surprised at how many reviews of Thomas Piketty's Capital in the 21st Century draw on the Cambridge Capital Controversy to argue...

1.0 Introduction This post presents a model of distribution that Luigi Pasinetti developed. It is one of a family of models. Other importa...

I have occasionally summarized certain aspects of microeconomics, concentrating on markets that are not perfectly competitive. Further d...

During the 20th century, a number of economists more or less independently developed ideas associated with input-output analysis, activity ...

With characteristic cheerful carelessness, Noah Smith misinforms hapless Bloomberg readers: "Friedrich Hayek tried to argue agains...

Figure 1: Wage-Rate of Profits Frontier for Seven Countries This post reports on the analysis of wage-rate of profits frontiers drawn ...

A theme of this blog is that wages and employment are not determined by, and cannot be determined by, the interaction of well-behaved sup...

Figure 1: Wage Share versus Ratio of Rate of Profits 1.0 Introduction Consider the theory that Sraffa's standard system can be u...

I associate the Temporal Single System Interpretation (TSSI) of Marx's Capital most notably with Alan Freeman and Andrew Kliman. The T...

Table 1: Variations Across Countries 1.0 Introduction This post is an empirical exploration of a simple labor theory of value as a t...

The Maximum Rate Of Growth Around The World Consider a model of an economy in which all commodities are produced from inputs of labor...

This is a post about the University of Illinois at Urbana Champaign (UIUC) 1 . It is not about current events . In the late 1940s, UIUC a...

Figure 1: Labor Demanded Per Unit Output in a Stationary State 1.0 Introduction As a Sraffian, I have no problem with open models in...

Figure 1: Labor Demanded Per Unit Output in a Stationary State 1.0 Introduction This post illustrates the analysis of the choice of ...

Some time ago, I read Hobbes's Leviathan , a classic argument for the existence of a social contract. I recently became aware of the ex...

"Mathematics is a study which, when we start from its most familiar portions, may be pursued in either of two opposite directions. The...