Competing Theories of Value: A Spectral Analysis

Q3 Social Sciences
Theodore Mariolis
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引用次数: 2

Abstract

This paper is based on a spectral–controllability analysis of the Sraffian price system and develops a relevant reconstruction of the theory of value. It shows that (i) the hitherto competing theories of value correspond to specific complex plane locations of the eigenvalues of the vertically integrated technical coefficients matrix; and (ii) the real-world economies cannot be coherently analyzed in terms of the traditional theory of value (classical, Marxian, Austrian, and neoclassical), despite the fact that they are characterized by rather low degrees and relatively low numerical ranks of price controllability. Hence, on the one hand, the Sraffian theory of value is not only the most general to date, but also empirically relevant. On the other hand, the real-world economies constitute almost uncontrollable systems, and this explains, in turn, the specific shape features of the empirical price–wage–profit rate curves that are at the heart of the capital theory debate.
价值竞争理论:光谱分析
本文基于斯拉芬价格系统的谱可控性分析,并对价值理论进行了相关的重构。它表明:(i)迄今为止相互竞争的价值理论对应于垂直积分技术系数矩阵的特征值的特定复平面位置;以及(ii)现实世界的经济体无法根据传统的价值理论(古典、马克思主义、奥地利和新古典)进行连贯的分析,尽管它们的特点是价格可控性的程度相当低,数值排名相对较低。因此,一方面,斯拉夫的价值理论不仅是迄今为止最普遍的,而且在经验上也是相关的。另一方面,现实世界的经济构成了几乎不可控的系统,这反过来解释了资本理论辩论核心的经验价格-工资-利润率曲线的具体形状特征。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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来源期刊
Contributions to Political Economy
Contributions to Political Economy Social Sciences-Sociology and Political Science
CiteScore
1.00
自引率
0.00%
发文量
18
期刊介绍: Contributions to Political Economy provides a forum for the academic discussion of original ideas and arguments drawn from important critical traditions in economic analysis. Articles fall broadly within the lines of thought associated with the work of the Classical political economists, Marx, Keynes, and Sraffa. While the majority of articles are theoretical and historical in emphasis, the journal welcomes articles of a more applied character. It also reviews noteworthy books recently published.
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