Overview
- Develops a unified, applicable treatment of the theories of value, capital, effective demand, and distributive cycles
- Extends the theory of value in new theoretical, empirical, and economic policy directions
- Provides an operational alternative to mainstream structural and policy studies with applications to the Eurozone economy
Part of the book series: Evolutionary Economics and Social Complexity Science (EESCS, volume 24)
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Table of contents(11 chapters)
About this book
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 approximationsand 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.
Authors and Affiliations
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Public Administration, Panteion University of Social & Political Science, Athens, Greece
Theodore Mariolis
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Centre of Planning and Economic Research (KEPE), Athens, Greece
Nikolaos Rodousakis, George Soklis
About the authors
Nikolaos Rodousakis is a Research Fellow in the Centre of Planning and Economic Research (KEPE), Athens, Greece. He holds a Degree in ‘Public Economics’, a M.A. in ‘Economics of Production and Intersectoral Relations’, and a PhD in ‘Economics’ from the Department of Public Administration of the Panteion University of Social and Political Sciences, Greece. His main educational and research interests are Political Economy, Input–Output Analysis, and Theory of Endogenous Economic Fluctuations.
George Soklis is a Research Fellow in the Centre of Planning and Economic Research (KEPE), Athens, Greece. He holds a Degree in ‘Public Economics’, a M.A. in ‘Economics of Production and Intersectoral Relations’, and a PhD in ‘Economics’ from the Department of Public Administration of the Panteion University of Social and Political Sciences, Greece. His main educational and research interests are Political Economy, Input–Output Analysis, and Tourism Economics.
Bibliographic Information
Book Title: Spectral Theory of Value and Actual Economies
Book Subtitle: Controllability, Effective Demand, and Cycles
Authors: Theodore Mariolis, Nikolaos Rodousakis, George Soklis
Series Title: Evolutionary Economics and Social Complexity Science
DOI: https://doi.org/10.1007/978-981-33-6260-4
Publisher: Springer Singapore
eBook Packages: Economics and Finance, Economics and Finance (R0)
Copyright Information: Springer Nature Singapore Pte Ltd. 2021
Hardcover ISBN: 978-981-33-6259-8Published: 30 May 2021
Softcover ISBN: 978-981-33-6262-8Published: 31 May 2022
eBook ISBN: 978-981-33-6260-4Published: 29 May 2021
Series ISSN: 2198-4204
Series E-ISSN: 2198-4212
Edition Number: 1
Number of Pages: XIX, 499
Number of Illustrations: 119 b/w illustrations, 10 illustrations in colour
Topics: History of Economic Thought/Methodology, Economic Theory/Quantitative Economics/Mathematical Methods, Macroeconomics/Monetary Economics//Financial Economics, International Economics, Economic Policy