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Optimal Weight of Commercial Sector and Reproduction Scheme

Author

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  • Hiroshi Onishi

    (Faculty of Economics, Keio University)

Abstract

In the field of commercial capital theory, recently Yano (2006) and Murakami (2014) have tried to incorporate the commercial sector into the reproduction scheme. However, Yano's formulation put the commercial capital outside the reproduction formula, and his explanation is too complex. Moreover, Murakami's formation still has a problem owing to his methodology that uses only the numerical examples. Therefore, this paper incorporates the commercial sector into the reproduction scheme as a perfect equation system based on the equalized profit rate. It is because equalized profit rate is also applied to the commercial sector to determine its weight in the whole economy. As a result of these calculations, this paper also identified that average profit rate is determined by the technological conditions only in the industrial sectors.

Suggested Citation

  • Hiroshi Onishi, 2019. "Optimal Weight of Commercial Sector and Reproduction Scheme," Keio-IES Discussion Paper Series 2019-014, Institute for Economics Studies, Keio University.
  • Handle: RePEc:keo:dpaper:2019-014
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    Keywords

    Commercial Sector; Reproduction Scheme; Equalized Profit Rate; Transformation Problem;

    JEL classification:

    • B51 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Socialist; Marxian; Sraffian
    • E11 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Marxian; Sraffian; Kaleckian
    • B14 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Socialist; Marxist

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