Switches and fake switches in methods of production

Article Abstract:

Sraffa's approach identified two characteristic elements, methodologically, it is of a 'dynamic' nature and, analytically, the switch-points are the common intersection of several wage-profit curves. An internal critique consisted in showing the existence of fake switches, which are at the intersection of two wage-profit curves but are not switch-points.

Production (Economics)

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The 40% neoclassical aggregate theory of production

Article Abstract:

The probability that an aggregate neoclassical production function could emerge from a simple heterogeneous production system is assessed using computer simulations. This concluded that, there exists a world of significant size for which the aggregate neoclassical theory of production does not hold.

Neoclassical economics, Austrian school of economics

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Classical dynamics of disequilibrium

Article Abstract:

The impact of economic disequilibrium on market prices in a capitalistic economy is discussed.

United States, Forecasts, trends, outlooks, Economic aspects, Forecasts and trends, Market trend/market analysis, Capitalism, Market value, Economic disequilibrium

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