Authors: Erman ZENG
This research attempts to place the formal Sraffian model with linear production sets into a general equilibrium framework and to derive a quantitative transformation theorem about Marxian theory of labor value and production price. Marxian reproduction solution established a dynamic general economic equilibrium, which can be characterized by input-(total) output ratio, namely, the reduced Organic Composite of Capital divided by the total productivity rate. The labor value thus the value rate of profit (ROP) can be determined from the production price by the use of the input-output matrix analysis. The increased value ROP and the decreased price ROP of USA around 2006/2007 revealed that there was an OCC reduction. Under the framework of the dynamic Marxian general equilibrium, it is possible to undergo an optimal planning about an economic system by the regulation of the government input, entrepreneur taxation, and minimal wage rate.
Comments: 12 Pages.
[v1] 2016-07-02 03:56:33
Unique-IP document downloads: 39 times
Vixra.org is a pre-print repository rather than a journal. Articles hosted may not yet have been verified by peer-review and should be treated as preliminary. In particular, anything that appears to include financial or legal advice or proposed medical treatments should be treated with due caution. Vixra.org will not be responsible for any consequences of actions that result from any form of use of any documents on this website.
Add your own feedback and questions here:
You are equally welcome to be positive or negative about any paper but please be polite. If you are being critical you must mention at least one specific error, otherwise your comment will be deleted as unhelpful.