Embodied labour and competitive prices: A physical quantities approach

Article Abstract:

A reformulated concept of value consistent with marx's approach is presented, showing that the link between such values and competitive prices has novel and symmetric properties. A new type of transformation algorithm is proposed using values to transform the conditions of production, creating a hypothetical standard technology. Competitive prices then represent the average labour in commodities, with averaging occurring across industry boundaries.

Methods, Models, Economics, Pricing

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Doing without money: a critical assessment of Woodford's analysis

Article Abstract:

The feasibility of professor Michael Woodford's general equilibrium model on the impact of evolution of monetary systems on interest rates is examined.

Australia, Interest Rates, Analysis, College teachers, College faculty, Works, Equilibrium (Economics), Monetary systems, Woodford, Michael

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