tag:blogger.com,1999:blog-26706564.post563564513302454560..comments2024-03-25T07:51:47.758-04:00Comments on Thoughts On Economics: Lear Without The KingRobert Vienneauhttp://www.blogger.com/profile/14748118392842775431noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-26706564.post-23993082540161555172010-09-20T00:16:33.162-04:002010-09-20T00:16:33.162-04:00What about Hodgson's work on this topic?
http:...What about Hodgson's work on this topic?<br />http://onlinelibrary.wiley.com/doi/10.1111/j.1467-8454.1981.tb00278.x/abstractUnknownhttps://www.blogger.com/profile/15062041737962225639noreply@blogger.comtag:blogger.com,1999:blog-26706564.post-43086563742361492562010-06-20T06:13:41.951-04:002010-06-20T06:13:41.951-04:00I cannot comment on Alain Parguez on Pivetti. Inso...I cannot comment on Alain Parguez on Pivetti. Insofar as I recall it, I like Bhaduri and Marglin's "Unemployment and the Real Wage: The Economic Basis for Contesting Political Ideologies". I had in mind work going back to at least the 1970s on tax-based incentive schemes for incomes policy. I don't recall what the acronym TIP stands for.<br /><br />Sraffians do have short-run theories of "gravitation" processes. But, from the little I know about them, I don't think they have an adequate role for money and finance.Robert Vienneauhttps://www.blogger.com/profile/14748118392842775431noreply@blogger.comtag:blogger.com,1999:blog-26706564.post-37806814248864827032010-06-18T04:40:26.723-04:002010-06-18T04:40:26.723-04:00The problem is that sraffian prices are no short r...The problem is that sraffian prices are no short run prices, so it's hard to see a role for money here. I refer to the Victoria Chick quote posted here: http://robertvienneau.blogspot.com/2010/01/mainstream-economists-unable-to-discuss.htmlAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-26706564.post-60820037252480968482010-06-17T19:48:23.638-04:002010-06-17T19:48:23.638-04:00"I think a conflict theory of inflation can b..."I think a conflict theory of inflation can be developed to explain the United States in the 1970s. Suppose both the general level of wages and the rate of profits are given in Sraffa's system. Then the system is overdetermined. Inflation is a means by which certain incompatibilities can be resolved. Since the level of output is consistent with unemployment ruling, here is a possible theory of stagflation."<br /><br />There is a famous work done by Marglin & Badhuri (CJE, 1990) in which there is a formalization of the overdetermination principle you stated above, but based on the desired acummulation fuction as prompted by Joan Robinson and on the subsistence wage as in Marx. The main problem, seem from a sraffian perspective, is the lack of a more rigorous theory of production. Being more Kaleckians, Marglin & Badhuri rely on single commodity world.<br /><br />RodrigoUnknownhttps://www.blogger.com/profile/06733641424384247383noreply@blogger.comtag:blogger.com,1999:blog-26706564.post-87130833082805213332010-06-16T18:23:36.710-04:002010-06-16T18:23:36.710-04:00I read some texts of Alain Parguez, a french circu...I read some texts of Alain Parguez, a french circuitist. I really didn´t understand why he criticizes the sraffians: in his theory the interest rate is exogenous and have real effects through the the distribution chanel over the multiplier - almost the same thing as Pivetti points out, but without reference to prices of production.Cavalo de Tróiahttps://www.blogger.com/profile/17695017156029509116noreply@blogger.com