A note on 'Mr Meade's Relation' and international capital movements

Article Abstract:

James Meade's method of process analysis was used to prove the fundamental Keynesian relation that investment causes saving. The identity link between investment and voluntary saving has been termed 'Mr Meade's Relation'. A more general version of process analysis is used to demonstrate that the structure of underlying processes creates 'Mr Meade's Relation' rather than the mathematical assumption of a fixed marginal propensity to save. The significance of process analysis and this relation for macro-economic methods and policy, is discussed.

Keynesian economics

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Labour time versus alternative value bases: A research note

Article Abstract:

Empirical support for the law of value is provided, seen as the proposal that embodied labour time is conserved in commodities exchanges. Market prices correlate well with the sum of direct and indirect labour content. When x is some input other than labour time, equally good correlations may be produced by taking the sum of direct and indirect x-content. However the analysis for electricity, iron, steel and oil show that this is not the case.

Pricing, Work, Work (Labor)

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A note on participatory decision-making and rationality

Article Abstract:

The issue of institutional choice concerned with the aspect of participatory decision-making structures is discussed. It is stated that participatory decision-making structures boost the productivity of organization and contribute to the group's social capital, as it gives scope for the formation of norms.

Decision making, Analysis, Evaluation, Industrial productivity, Decision-making (Ethics), Organizational structure, Productivity

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