The Experts below are selected from a list of 168 Experts worldwide ranked by ideXlab platform
Phillip J. Bryson - One of the best experts on this subject based on the ideXlab platform.
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Henry George’s Theory of Distribution
The Economics of Henry George, 2020Co-Authors: Phillip J. BrysonAbstract:This chapter reviews Henry George’s Theory of Distribution from the perspective of his magnum opus, Progress and Poverty. This work is not only good reading, it had a powerful impact on the economic/social discussions of his time and produced echoes that linger to the present. It was not, of course, a work that provided him admission to the economics establishment of his day. At the time, economists were less inclined to find redeeming qualities to his theories than contemporary economists are.
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Henry George: The Theory of Distribution in Progress and Poverty
2014Co-Authors: Phillip J. BrysonAbstract:The core of Henry George’s economic Theory appeared in his most widely-read book, Progress and Poverty. On the basis of his dramatic “single tax” Theory, his work became widely known and gained some avid followers who endeavored to base policy on it. But the work was also of value in George’s day and of interest in our day because of its economic content. George was not a part of the academic economics establishment of his day and his Theory was of strictly classical methodology, but it still had much to commend it. A simple model to present his concepts in more modern form is developed. On the basis of the diagrammatic techniques involved, George’s Theory of Distribution is presented and evaluated.
Neri Salvadori - One of the best experts on this subject based on the ideXlab platform.
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Theory of production a long period analysis
1995Co-Authors: Heinzdieter Kurz, Neri SalvadoriAbstract:1. Free competition and long-period positions 2. A one-commodity model 3. Two-commodity models 4. Models with any number of commodities 5. Choice of technique 6. Alternative descriptions of a 'technique' 7. Fixed capital models 8. Joint production 9. Models with jointly utilized machines 10. Land 11. Persistent wage and profit rate differentials 12. On limits to the long-period method 13. Production as a circular flow and the concept of surplus 14. The neoclassical Theory of Distribution and the problem of 'capital' 15. On some alternative theories of Distribution Mathematical appendix.
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Post-Keynesian Theory of Distribution in the Long Run
Nicholas Kaldor and Mainstream Economics, 1991Co-Authors: Neri SalvadoriAbstract:As is well known, the post-Keynesian Theory of Distribution was generated during the 1950s in Cambridge (Cambridgeshire). The first formal presentation was given in a seminal paper in 1956 by Kaldor. After that Kaldor utilized this Theory in formalizing several growth models (Kaldor, 1957,1961; Kaldor and Mirrlees, 1962) in order to provide a solution to Harrod’s problem on the convergence of the ‘warranted’ growth rate to the ‘natural’ growth rate. After 1966 Kaldor did not return to the post-Keynesian Theory of Distribution except to clarify the origins of the Theory (Kaldor, 1978, 1980).
Enrico Sergio Levrero - One of the best experts on this subject based on the ideXlab platform.
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Marx on Absolute and Relative Wages and the Modern Theory of Distribution
Review of Political Economy, 2020Co-Authors: Enrico Sergio LevreroAbstract:This paper aims at clarifying some aspects of Marx's analysis of the determinants of wages and of the peculiarity of labour as a commodity, focusing on three related issues. The first is that of Marx's notion of the subsistence (or natural) wage rate: the subsistence wage will be shown to stem, according to Marx, from socially determined conditions of reproduction of an efficient labouring class. The second issue refers to the distinction between the natural and the market wage rate that can be found in Marx, and his critique of Ricardo's analysis of the determinants of the price of labour. Here the ‘law of population peculiar to the capitalist mode of production’ (that is, Marx's industrial reserve army mechanism) will be considered both with respect to cyclical fluctuations of wages and to their trend over time. Moreover, a classification of the social and institutional factors affecting the average wage rate will be advanced. Finally, the last issue concerns Marx's analysis of the effects of technical progress on both absolute and relative wages (that is, the wage share). It will also be discussed by relating it back to the longstanding debate on the Marxian law of the falling rate of profit, and addressing some possible scenarios of the trend of wages and Distribution.
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Garegnani's theoretical enterprise and the Theory of Distribution
Review of Keynesian Economics, 2014Co-Authors: Enrico Sergio LevreroAbstract:This paper reconstructs the essential traits of Garegnani's thought on the Theory of Distribution. In particular, it reconstructs the central point of his work (which saw him involved in debates with economists such as Blaug, Bliss, Hahn, Hollander, Joan Robinson and Samuelson) – namely, the development of Sraffa's work, both regarding the critique of the marginalist Theory of value and Distribution, and the revival of the surplus approach of Smith, Ricardo and Marx. It also reconstructs a characteristic which was a constant of Garegnani's activity – that is, his attention to concrete economic phenomena and the search for economic policies able to assure high levels of employment and the well-being of the greatest part of the population. These two traits of Garegnani's work are traceable since his first contributions to economic Theory – namely, from his 1958 PhD thesis entitled A Problem in the Theory of Capital from Ricardo to Wicksell to his 1962 work for Svimez, where Garegnani faced the issue of how to achieve a higher rate of growth in a case like that of Italy, characterised by large areas with high labour underemployment. The two traits were of course strictly interconnected, as, for instance, the suggestion in favour of Keynesian economic policies, or the criticism (especially in the absence of full employment of resources) to Pareto optimality and its implications for policy analysis could not but pass through a critique of the marginalist Theory and the simultaneous clarification and development of an alternative theoretical approach.
J. Harvey - One of the best experts on this subject based on the ideXlab platform.
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Rewarding the Factors of Production: the Marginal Productivity Theory of Distribution
Modern Economics, 1994Co-Authors: J. Harvey, M. K. JohnsonAbstract:Factors of production co-operate together to produce the national ‘cake’. But these factors are all owned by somebody. Thus how much of the cake each individual in the country obtains depends upon: (1) how much of the factors is owned; (2) the reward each factor receives.
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Factor Markets: The Marginal Productivity Theory of Distribution
Intermediate Economics, 1991Co-Authors: J. HarveyAbstract:Factors of production cooperate together to produce the national product. Each of these factors is owned by somebody. How much of the cake each individual in the country obtains depends upon (i) how much of the factors is owned, and (ii) the reward each factor receives.
Wojciech Szpankowski - One of the best experts on this subject based on the ideXlab platform.
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A One-to-One Code and Its Anti-Redundancy
IEEE Transactions on Information Theory, 2008Co-Authors: Wojciech SzpankowskiAbstract:One-to-one codes are ldquoone-shotrdquo codes that assign a distinct codeword to source symbols and are not necessarily prefix codes (more generally, uniquely decodable). Interestingly, as Wyner proved in 1972, for such codes the average code length can be smaller than the source entropy. By how much? We call this difference the anti-redundancy. Various authors over the years have shown that the anti-redundancy can be as big as minus the logarithm of the source entropy. However, to the best of our knowledge precise estimates do not exist. In this note, we consider a block code of length n generated for a binary memoryless source, and prove that the average anti-redundancy is -1/2 log2 n +C +F (n)+o (1) where C is a constant and either F (n) = 0 if log2(1-p)/p is irrational (where p is the probability of generating a ldquo0rdquo) or F(n) is a fluctuating function as the code length increases. This relatively simple finding requires a combination of analytic tools such as precise evaluation of Bernoulli sums, the saddle point method, and Theory of Distribution of sequences modulo 1.
