A Short Guide to Long-Run Time-Phased Systems of Production
AbstractThe paper discusses briefly several long-run systems of production vis-à- vis alternative theories of value and distribution stated by Marx, classical- neoricardian, post-Leontief-neoclassical, and post-Keynes-Sra¤a authors during the last hundred and fifty years. All the systems of production considered in the paper have in common the circular production of commodities by means of commodities. A distinctive characteristic of these systems is the standard of value in terms of which the wage rate and the prices of commodities are expressed. In particular, the logical structure of the systems of prices of production implies that diferent standards of value imply diferent theories of value and distribution both real and monetary in character. Methodological pluralism suggests that distinct theories of value and distribution refect diferent scientific/normative economic paradigms. It appears that dialectics is needed in order to trascendinter-paradigmatic debate.
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Bibliographic InfoPaper provided by UNIVERSIDAD DE LOS ANDES-CEDE in its series DOCUMENTOS CEDE with number 005101.
Date of creation: 04 Sep 2008
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capital theory; distribution theory; economic paradigms; moneywage; prices of production; standard of value; Standard system; systems of pro-duction;
Find related papers by JEL classification:
- B12 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Classical (includes Adam Smith)
- B14 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Socialist; Marxist
- B24 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Socialist; Marxist; Scraffian
- E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian
This paper has been announced in the following NEP Reports:
- NEP-ALL-2008-10-21 (All new papers)
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- Hernando Matallana, 2009. "The Struggle Over the Real Wage In the Monetary Production Economy," DOCUMENTOS CEDE 005271, UNIVERSIDAD DE LOS ANDES-CEDE.
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