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Social Norms, Fluctuations and Money in a Linear Model of Prices

In: The Notion of Equilibrium in the Keynesian Theory

Author

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  • Sergio Parrinello

Abstract

In the following sections I intend to re-examine and extend the analytical representation of the production system underlying the Sraffian model (l+r)Ap + wL = Bp, with regard to the existence of social norms, fluctuaions and exchange costs related to a monetary economy.1 The approach suggested can be traced back to illustrious forebears — such as Petty (1690), Adam Smith (1776), Babbage (1835) and Marx (1867) — and to some economists closer to the present: von Neumann (1932), Georgescu Roegen (1971) and, in particular, Sraffa (1960).

Suggested Citation

  • Sergio Parrinello, 1992. "Social Norms, Fluctuations and Money in a Linear Model of Prices," Palgrave Macmillan Books, in: Mario Sebastiani (ed.), The Notion of Equilibrium in the Keynesian Theory, chapter 13, pages 173-188, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-22086-1_13
    DOI: 10.1007/978-1-349-22086-1_13
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    Citations

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    Cited by:

    1. Sergio Parrinello, 2014. "A search for distinctive features of demand-led growth models," PSL Quarterly Review, Economia civile, vol. 67(270), pages 309-342.
    2. Parrinello, Sergio, 2004. "The service economy revisited," Structural Change and Economic Dynamics, Elsevier, vol. 15(4), pages 381-400, December.
    3. Sergio Parrinello, 2002. "The myth of the service economy," Working Papers in Public Economics 55, University of Rome La Sapienza, Department of Economics and Law.

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