English, Article, Journal or magazine article edition: QUESTIONS FOR SRAFFIANS Steve Keen

User activity

Share to:
 
Bookmark: http://trove.nla.gov.au/version/189405
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • QUESTIONS FOR SRAFFIANS
Author
  • Steve Keen
Physical Description
  • preprint
Notes
  • The central propositions in Steedman’s 1992 paper "Questions for Kaleckians" were (a) that the input-output aspects of production must be taken account of in any account of price setting under capitalism; and (b) that one consequence of this is that the constraints which govern a mathematical representation of input- output analysis--matrix algebra--therefore govern the values that can be taken by the key parameters of the system of production. This paper argues that the first proposition above is, with reservations, correct--and, therefore, that some aspects of "normal" Kaleckian analysis were rightly criticised--but that the second is fallacious, since linear algebra is not an appropriate mathematical tool for the representation of the input-output nature of production. One suitable methodology is discrete-time dynamics, and the application of this to Steedman’s analysis and example shows (a) that his critique of Kaleckian mark-up pricing is largely misplaced, and (b) that his preferred methodology of linear algebra is inapplicable to capitalism. This is because, while it is true to say that "Kaleckian mark-up pricing and distribution theory cannot be done properly if inter-industry relationships are ignored" (Steedman 1992, p. 145), the proper introduction of these issues results in a dynamic, non-equilibrium analysis where, as Sawyer correctly muses, "many of the questions which [Steedman] raises would re-emerge (probably in a more complex form)" (1992, p. 163).
  • RePEc:wop:pokear:_025
Language
  • English
Contributed by
OAIster

Get this edition

Other links

  • Set up My libraries

    How do I set up "My libraries"?

    In order to set up a list of libraries that you have access to, you must first login or sign up. Then set up a personal list of libraries from your profile page by clicking on your user name at the top right of any screen.

  • All (1)
  • Unknown (1)
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.

User activity


e.g. test cricket, Perth (WA), "Parkes, Henry"

Separate different tags with a comma. To include a comma in your tag, surround the tag with double quotes.

Be the first to add a tag for this edition

Be the first to add this to a list

Comments and reviews

What are comments? Add a comment

No user comments or reviews for this version

Add a comment