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Norm Bounds and A Homographic Approximation for the Wage–Profit Curve

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  • Theodore Mariolis

Abstract

This paper provides lower and upper norm bounds for the wage–profit curve in linear single-product systems. Thus, it also constructs an algebraically simple (i.e. homographic) and empirically powerful approximation to that curve. The results finally suggest that actual economies tend to behave as ‘corn-tractor’ systems with respect to the shape of the wage–profit curve and, at the same time, behave as three-industry systems with respect to the shape of the production price–profit rate curves.

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  • Theodore Mariolis, 2015. "Norm Bounds and A Homographic Approximation for the Wage–Profit Curve," Metroeconomica, Wiley Blackwell, vol. 66(2), pages 263-283, May.
    • Handle: RePEc:bla:metroe:v:66:y:2015:i:2:p:263-283
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    File URL: http://hdl.handle.net/10.1111/meca.12069
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    References listed on IDEAS

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    Cited by:

    1. Theodore Mariolis & Lefteris Tsoulfidis, 2016. "Capital theory ‘paradoxes’ and paradoxical results: resolved or continued?," Evolutionary and Institutional Economics Review, Springer, vol. 13(2), pages 297-322, December.
    2. Mariolis, Theodore & Tsoulfidis, Lefteris, 2016. "Capital theory: Less is more," MPRA Paper 75923, University Library of Munich, Germany.
    3. Theodore Mariolis, 2015. "Testing Bienenfeld’s Second-Order Approximation for the Wage-Profit Curve," Bulletin of Political Economy, Bulletin of Political Economy, vol. 9(2), pages 161-170, December.
    4. Anwar Shaikh & Luiza Nassif, 2018. "Eigenvalue distribution, matrix size and the linearity of wage-profit curves," Working Papers 1812, New School for Social Research, Department of Economics.
    5. Theodore Mariolis & Lefteris Tsoulfidis, 2018. "Less Is More: Capital Theory And Almost Irregular-Uncontrollable Actual Economies," Contributions to Political Economy, Cambridge Political Economy Society, vol. 37(1), pages 65-88.
    6. Mariolis, Theodore, 2015. "Testing Bienenfeld’s Second-Order Approximation for the Wage-Profit Curve," MPRA Paper 68215, University Library of Munich, Germany.

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