I P Wright
Biographic Data
| ID | 5899949 |
|---|---|
| NAME | I P Wright |
| GIVEN NAMES | I P |
| FAMILY NAME | Wright |
| SIGNATURE | WRIGHT I P |
| AFFILIATIONS | University of Puget Sound |
| ORCID | 0000-0002-4267-7963 |
| VERIFIED | Yes |
| TOTAL WORKS | 4 |
| TOTAL CITATIONS | 2 |
| WORKS AS AUTHOR | 4 |
| WORKS AS EDITOR | 0 |
| FIRST PUBLICATION YEAR | 2005 |
| LATEST PUBLICATION YEAR | 2019 |
| H-INDEX | 1 |
Marx’s transformation problem and Pasinetti’s vertically integrated subsystems
Pasinetti (1988) constructs a ‘complete generalization of Marx’s “transformation problem”’, in the context of a non-uniform growth model, by proving that production prices are not proportional to the physical quantities of labour supplied to ‘vertically hyper-integrated subsystems’. Pasinetti therefore restricts the labour theory of value to a pre-institutional stage of analysis. In this paper I demonstrate that the transformation problem dissolv…
The Wife of Achilles
The Emergence of the Law of Value in a Dynamic Simple Commodity Economy
A dynamic computational model of a simple commodity economy is examined and a theory of the relationship between commodity values, market prices and the efficient division of social labour is developed. The main conclusions are: (i) the labour value of a commodity is an attractor for its market price; (ii) market prices are error signals that function to allocate the available social labour between sectors of production; and (iii) the tendency of…
The social architecture of capitalism
The Emergence of the Law of Value in a Dynamic Simple Commodity Economy
A dynamic computational model of a simple commodity economy is examined and a theory of the relationship between commodity values, market prices and the efficient division of social labour is developed. The main conclusions are: (i) the labour value of a commodity is an attractor for its market price; (ii) market prices are error signals that function to allocate the available social labour between sectors of production; and (iii) the tendency of…
The social architecture of capitalism
The Emergence of the Law of Value in a Dynamic Simple Commodity Economy
A dynamic computational model of a simple commodity economy is examined and a theory of the relationship between commodity values, market prices and the efficient division of social labour is developed. The main conclusions are: (i) the labour value of a commodity is an attractor for its market price; (ii) market prices are error signals that function to allocate the available social labour between sectors of production; and (iii) the tendency of…
The Wife of Achilles
Marx’s transformation problem and Pasinetti’s vertically integrated subsystems
Pasinetti (1988) constructs a ‘complete generalization of Marx’s “transformation problem”’, in the context of a non-uniform growth model, by proving that production prices are not proportional to the physical quantities of labour supplied to ‘vertically hyper-integrated subsystems’. Pasinetti therefore restricts the labour theory of value to a pre-institutional stage of analysis. In this paper I demonstrate that the transformation problem dissolv…
Economic Theory and Policy (3 works) · Political Economy and Marxism (3 works) · Art (2 works) · Economic Theory and Institutions (2 works) · Economics (2 works) · Microeconomics (2 works) · American Sports and Literature (1 work) · Ancient history (1 work) · Architecture (1 work) · Capitalism (1 work)