Embodied labour and competitive prices: A physical quantities approach
Article Abstract:
A reformulated concept of value consistent with marx's approach is presented, showing that the link between such values and competitive prices has novel and symmetric properties. A new type of transformation algorithm is proposed using values to transform the conditions of production, creating a hypothetical standard technology. Competitive prices then represent the average labour in commodities, with averaging occurring across industry boundaries.
Publication Name: Cambridge Journal of Economics
Subject: Economics
ISSN: 0309-166X
Year: 1997
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Doing without money: a critical assessment of Woodford's analysis
Article Abstract:
The feasibility of professor Michael Woodford's general equilibrium model on the impact of evolution of monetary systems on interest rates is examined.
Publication Name: Cambridge Journal of Economics
Subject: Economics
ISSN: 0309-166X
Year: 2006
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