[Selections by Humberto Barreto for SHOE list.]
nep-hpe <http://nep.repec.org/nep-hpe.html> New Economics Papers
<http://nep.repec.org/> on History and Philosophy of Economics
Issue of 2022‒08‒22
papers chosen by
Erik Thomson <http://econpapers.repec.org/RAS/pth72.htm>
University of Manitoba <http://umanitoba.ca/>
------------------------------
1. Karl Marx´s Theory of Capitalism Exposition, Critique, and Appraisal
<https://mail.google.com/mail/u/0/#m_-7723881999352099564_p1> By Escudé,
Guillermo J.
<http://econpapers.repec.org/scripts/search.pf?aus=Escud%C3%A9,%20Guillermo%20J.>
2. Sen and Sraffa: Description as Theory
<https://mail.google.com/mail/u/0/#m_-7723881999352099564_p2> By Syed
Mohib Ali
<http://econpapers.repec.org/scripts/search.pf?aus=Syed%20Mohib%20Ali>
3. ECONOMIC MODELS, REALISM AND SIMILARITY
<https://mail.google.com/mail/u/0/#m_-7723881999352099564_p3> By Leonardo
Ivarola
<http://econpapers.repec.org/scripts/search.pf?aus=Leonardo%20Ivarola>
4. Homo economicus to model human behavior is ethically doubtful and
mathematically inconsistent
<https://mail.google.com/mail/u/0/#m_-7723881999352099564_p4> By M.
Lunkenheimer
<http://econpapers.repec.org/scripts/search.pf?aus=M.%20Lunkenheimer>; A.
Kracklauer
<http://econpapers.repec.org/scripts/search.pf?aus=A.%20Kracklauer>; G.
Klinkova
<http://econpapers.repec.org/scripts/search.pf?aus=G.%20Klinkova>; M.
Grabinski
<http://econpapers.repec.org/scripts/search.pf?aus=M.%20Grabinski>
5. Kantian Epistemology in Examination of the Axiomatic Principles of
Economics: the Synthetic a Priori in the Economic Structure of Society
<https://mail.google.com/mail/u/0/#m_-7723881999352099564_p5> By Mughal,
Adil Ahmad
<http://econpapers.repec.org/scripts/search.pf?aus=Mughal,%20Adil%20Ahmad>
6. From Addition to Multiplication: The Labour Theory Of Value and the
Economic Institutions of Capitalism. Part One: Profit and Surplus-Value in
light of Transaction Costs
<https://mail.google.com/mail/u/0/#m_-7723881999352099564_p6> By Alberto
Battistini
<http://econpapers.repec.org/scripts/search.pf?aus=Alberto%20Battistini>
------------------------------
1. Karl Marx´s Theory of Capitalism Exposition, Critique, and Appraisal
<http://econpapers.repec.org/RePEc:pra:mprapa:113685>
By: Escudé, Guillermo J.
<http://econpapers.repec.org/scripts/search.pf?aus=Escud%C3%A9,%20Guillermo%20J.>
Abstract: This book gives a clear synthesis of Marx’s theory of
Capitalism and its relation with economic theory as it evolved over the
course of the last 300 years. It places Marx’s though in perspective,
comparing it with the main aspects of the economic theories that preceded
it, including not only the Classical Adam Smith and David Ricardo but also
economists like Cantillon, Turgot, and Ramsay that Marx chose to ignore
with respect to the crucial issue of entrepreneurship because it was
incompatible with his Theory of Surplus Value. But the book also contrasts
Marx’s theory with Walras’, the Neoclassical economist whose influence on
contemporary mainstream economic theory was most lasting. The analytical
aspects of Marx’s theory are rigorously expressed by means of the technique
of Input-Output Analysis, which is explained from the most elementary level
in order to make the book self-contained. Each of the multiple topics of
Marx’s complex and refined theory is explained in detail, including his
theory of money, the heterogeneity in kinds of labor and in productive
techniques, the turnover of capital, Simple and Extended Reproduction, his
theory of the economic cycle, his theory of ground rent, his theory of
productive and unproductive labor, and his view of the main tendencies of
capitalist society. The book is structured in accordance with the
development process of Marx’s thought. Hence, it begins with the life
project he generated in his youth and drove him from the study of history
and philosophy to that of Political Economy, on the one hand, and political
praxis, on the other. Hence, Parts I, II, and IV of the book respectively
address A) the philosophical-methodological foundations of his scientific
endeavor (his Historical Materialism); B) his scientific theory of
capitalist society as expressed in Capital; and C) his political thought
and praxis, which had enormous effects over the course of the 20th century.
Part III of the book addresses our critique of Marx’s theory of Capitalism.
Beyond our criticisms, however, the book shows that Marx made important
contributions to the comprehension of the functioning of Capitalism in the
more conventional part of his theory, which we denominate ‘exoteric’ in
order to contrast it with his ‘esoteric’ Theory of Surplus Value which was
the foundation of his view of the exploitation of wage labor in Capitalism.
Keywords: Marx's theory of capitalism; Marx's theory of surplus value
and its critique; Comparison of Marx's and Walras' economic theories;
Historical Materialism; Marx's political project and its critique;
appraisal of Marx's influence in the light of the world events of the 20th
century.
JEL: B00 B31 B40 B51
<http://econpapers.repec.org/scripts/search.pf?jel=B00%20B31%20B40%20B51>
Date: 2021
URL: http://d.repec.org/n?u=RePEc:pra:mprapa:113685&r=
2. Sen and Sraffa: Description as Theory
<http://econpapers.repec.org/RePEc:usi:wpaper:882>
By: Syed Mohib Ali
<http://econpapers.repec.org/scripts/search.pf?aus=Syed%20Mohib%20Ali>
Abstract: The article engages with Amartya Sen’s interpretation of Piero
Sraffa’s Production of Commodities by Means of Commodities (PCMC). Sen has
the distinction of highlighting the philosophical and methodological
aspects of Sraffa’s work. In this regard, Sen has highlighted the role of
counterfactuals in economic theory and the role of value theory in
political economy as a matter of ‘social communication’. On these two
issues, there is considerable discussion in recent Sraffian scholarship
that is concerned with the significance of Sraffa’s critique of marginalist
theory and the rehabilitation of classical economics. The article
scrutinizes Sen’s interpretation of PCMC and highlights several noteworthy
contributions and insights. While being sympathetic to the substantive
points of criticism entailed by PCMC, Sen misunderstands Sraffa’s ‘critique
of economic theory’ and the reasoning involved in such a critique. A
critical reading reveals that Sen’s interpretation of Sraffa is more
reflective of his own work on the ‘choice basis of description’ than an
appreciation of Sraffa’s theoretical project. Despite the
misunderstandings, the article highlights the similarities in vision
between Sen’s interpretation of Sraffa and Sraffa’s revival of classical
economics. By undertaking such a critical reading, the article raises
important issues about method and the scope of economic enquiries
Date: 2022–06
URL: http://d.repec.org/n?u=RePEc:usi:wpaper:882&r=
3. ECONOMIC MODELS, REALISM AND SIMILARITY
<http://econpapers.repec.org/RePEc:ake:iiepdt:202163>
By: Leonardo Ivarola
<http://econpapers.repec.org/scripts/search.pf?aus=Leonardo%20Ivarola>
(Instituto
Interdisciplinario de Economía Política de Buenos Aires - UBA - CONICET)
Abstract: In the present paper it is argued that differences among
economic models are basically differences in their selected part of the
real world these models try to account for. Therefore, their range of
applicability to a target system turns out to be important for their
selection to particular purposes. In this respect, an approach based on the
similarity of models to a target system and to the modelers’ purposes is
provided. It is also argued that models vary in values of similarity. These
values will help agents to select the model that best meets the role of
examining some phenomenon of interest.
Keywords: Similarity, Economic models, Mechanisms, Possibility tree,
Substantive assumptions, Domain of applicability
JEL: B41 <http://econpapers.repec.org/scripts/search.pf?jel=B41>
Date: 2021–06
URL: http://d.repec.org/n?u=RePEc:ake:iiepdt:202163&r=
4. Homo economicus to model human behavior is ethically doubtful and
mathematically inconsistent
<http://econpapers.repec.org/RePEc:arx:papers:2207.02902>
By: M. Lunkenheimer
<http://econpapers.repec.org/scripts/search.pf?aus=M.%20Lunkenheimer>; A.
Kracklauer
<http://econpapers.repec.org/scripts/search.pf?aus=A.%20Kracklauer>; G.
Klinkova
<http://econpapers.repec.org/scripts/search.pf?aus=G.%20Klinkova>; M.
Grabinski
<http://econpapers.repec.org/scripts/search.pf?aus=M.%20Grabinski>
Abstract: In many models in economics or business a dominantly
self-interested homo economicus is assumed. Unfortunately (or fortunately),
humans are in general not homines economici as e.g. the ultimatum game
shows. This leads to the fact that all these models are at least doubtful.
Moreover, economists started to set a quantitative value for the feeling of
social justice, altruism, or envy and the like to execute utilitarian
calculation. Besides being ethically doubtful, it delivers an explanation
in hindsight with little predicting power. We use examples from game theory
to show its arbitrariness. It is even possible that a stable Nash
equilibrium can be calculated while it does not exist at all, due to the
wide differences in human values. Finally, we show that assigned numbers
for envy or altruism and the like do not build a field (in a mathematical
sense). As there is no homomorphism to real numbers or a subset of it, any
calculation is generally invalid or arbitrary. There is no (easy) way to
fix the problem. One has to go back to ethical concepts like the
categorical imperative or use at most semi quantitative approaches like
considering knaves and knights. Mathematically one can only speculate
whether e.g. surreal numbers can make ethics calculable.
Date: 2022–07
URL: http://d.repec.org/n?u=RePEc:arx:papers:2207.02902&r=
5. Kantian Epistemology in Examination of the Axiomatic Principles of
Economics: the Synthetic a Priori in the Economic Structure of Society
<http://econpapers.repec.org/RePEc:pra:mprapa:113677>
By: Mughal, Adil Ahmad
<http://econpapers.repec.org/scripts/search.pf?aus=Mughal,%20Adil%20Ahmad>
Abstract: Transcendental Analytic, in Critique of Pure Reason, combines
the space and time as conditions of the possibility of phenomenon from
Transcendental Aesthetic with the pure magnitude-intuition notion. The
property of continuity as a qualitative result of the additive magnitude
brings the possibility of connecting with experience, even though only as a
potential because of the a priori necessity from assumption, as
syntheticity of the a priori task of a scientific method of philosophy
given by Kant, which precludes the application of categories to something
not empirically reducible to the content of such a category's corresponding
and possible object. This continuity as the qualitative result of a priori
constructed notion of magnitude lies as a fundamental assumption and
property of, what in Microeconomic theory is called as, 'choice rules'
which combine the potentially-empirical and practical budget-price pairs
with preference relations. This latter result is the purest qualitative
side of the choice rules' otherwise autonomously quantitative nature. The
theoretical, barring the empirical, nature of this qualitative result is a
synthetic a priori truth, which, if at all, it should be, if the axiomatic
structure of economic theory is held to be correct. It has a potentially
verifiable content as its possible object in the form of quantitative
price-budget pairs, yet, the object that serves the respective Kantian
category is qualitative itself which is utility. This article explores the
validity of Kantian qualifications for this application of 'categories' to
the economic structure of society.
Keywords: Categories of Understanding, Continuity, Convexity, Psyche,
Revealed Preferences, Synthetic a priori
JEL: B4 B49 D0 D01 D9
<http://econpapers.repec.org/scripts/search.pf?jel=B4%20B49%20D0%20D01%20D9>
Date: 2022–06–15
URL: http://d.repec.org/n?u=RePEc:pra:mprapa:113677&r=
6. From Addition to Multiplication: The Labour Theory Of Value and the
Economic Institutions of Capitalism. Part One: Profit and Surplus-Value in
light of Transaction Costs
<http://econpapers.repec.org/RePEc:usi:wpaper:884>
By: Alberto Battistini
<http://econpapers.repec.org/scripts/search.pf?aus=Alberto%20Battistini>
Abstract: this three-parts study presents an institutional and
evolutionary -or a qualitative and intersubjective-re-interpretation of
Marx’s version of the labour theory of value. More specifically, in this
Part One Marx’s own contribution to that theory - that is, the theory of
surplusvalue, or the difference between use-value and exchange-value of
labour power as a determinant of profit in perfectly competitive conditions
and of the contradictory nature of the capital accumulation process- is
re-dis-covered. Accordingly, the amount that would have been the cost of
obtaining the same commodity in the noncapitalist Commodity ? Money ?
Commodity circuit -that is, in the market of independent or smalland
medium-size producers, takes the place of the direct and indirect quantity
of working hours contained in a given commodity, thus representing its
exchange value. By applying - as Marx did- the same pricing rule which
holds for the other commodities to labour power, therefore, the quantity of
labour socially necessary to produce subsistence goods is in its turn
substituted with the amount that is possible to earn from independent
participation in the production process, without specific means of
production in the usual meaning of the term. Since the step in terms of
surplus-labour is then skipped for theoretical as well as practical
reasons, the use-value of labour-power corresponds to the exchange-value of
the commodities. Consequently, as in Marx, also in this case a kind of
profit that derives from the difference between the use-value and the
exchange-value of labour-power, but measured in terms of transaction costs,
comes to light. Moreover, because it derives from the aforementioned
difference, this kind of profit is not eliminated by competition. As a
consequence, it should be named as ‘Marxian’ or ‘industrial’ profit in
order to distinguish it from monopoly profit, which instead derives from
price setting. On the basis of this result, in the next two Parts of the
study the hypothesis that the principle of the maximization of this kind of
profit might work as a general positive principle for the economic domain,
including as special cases Pareto-efficiency and conflict, will be verified
Keywords: transaction costs; wealth effects; use-value; exchange-value;
team production; methodological individualism
JEL: A10 B00 C70 P10 D02
<http://econpapers.repec.org/scripts/search.pf?jel=A10%20B00%20C70%20P10%20D02>
Date: 2022–07
URL: http://d.repec.org/n?u=RePEc:usi:wpaper:884&r=
------------------------------
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