Spectral theory of value and actual economies : controllability, effective demand, and cycles
Author(s)
Bibliographic Information
Spectral theory of value and actual economies : controllability, effective demand, and cycles
（Evolutionary economics and social complexity science, v. 24）
Springer, c2021
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"JAFEE"--Cover
Includes bibliographical references and index
Description and Table of Contents
Description
This book develops a unified treatment of the income distribution-capital-value problems with respect to actual economies, and then gradually turns to the issues of effective demand and capitalist accumulation fluctuations from both political economy and economic policy perspectives. That treatment, on the one hand, places produced means of production, positive profits, and capital accumulation at the centre of the analysis and, on the other hand, is analytically based on the modern control theory. Hence, the authors' investigation is concerned with input-output representations of actual single and joint production, heterogeneous labour, and open economies; zeroes in on the characteristic value distributions of the system matrices; and, finally, derives meaningful theoretical results consistent with the empirical evidence, and vice versa. The main topics addressed are the uncontrollable/unobservable aspects of the real-world economies, the powerful low-order spectral approximations and reconstructions of the inter-industry structure of production-value-distributive variables relationships, the critical-constructive appraisal of both "mainstream" and "radical" theories of value, the matrix demand multipliers and demand-switching policies in heterogeneous capital worlds, and the circular inter-actions amongst income distribution, effective demand, accumulation, and technical conditions of production. Written on the occasion of the 60th anniversary of the publication of both Piero Sraffa's Production of Commodities by Means of Commodities and Rudolf E. Kalman's paper "On the general theory of control systems", this book provides a consistent and comprehensive framework for theoretical, empirical, and economic policy research.
Table of Contents
Preface
Chapter 1: Input-Output Representations of Actual Economies
Chapter 2:Controllability-Observability and Spectral Post-Construction of the Value Theory
Chapter 3:The Capital Theory Debate and the Almost Uncontrollability and Unobservability of Actual Economies
Chapter 4: Capital Theory, Joint Production and International Trade Issues
Chapter 5: Joint Production and Actual Economies
Chapter 6: Time Dilation, Abstract Social Labour and Profit
Chapter 7: Alternative Value Bases and Actual Economies
Chapter 8: Capital Theory and Matrix Demand Multipliers in Sraffian Frameworks
Chapter 9:Effective Demand and Devaluation Policies: Evidence from Input-Output Tables for Eurozone Economies
Chapter 10:Goodwin's Distributive Growth Cycle Models: Theory and Empirical Evidence
Chapter 11:Marxian Distributive-Effective Demand Dynamics and the "Law" of the Rising Profit Rate
Index
by "Nielsen BookData"
