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- Title
A SIMPLE CRITERION FOR EQUAL VALUE COMPOSITION OF CAPITAL.
- Authors
Parys, Wilfried
- Abstract
This article discusses a simple criterion for the presence of equal value decomposition of capital. It is well-known that in such a world changes in distribution would have no effects on relative prices in Sraffa's system, that the Marxian static and dynamic transformation problems would be very easy to solve, and that many other branches of economic analysis, capital theory, for example, would become much more transparent. Therefore, it is interesting to have a simple criterion for the presence of equal value composition of capital. The only purpose of this note is to provide such a test. Our criterion is stated in terms of given technological coefficients. It does not necessitate the computation of the value composition of capital of the various sectors of the economy.
- Subjects
CAPITAL; CAPITAL investments; PRICES; PRICE levels; THEORY; ECONOMICS
- Publication
Quarterly Journal of Economics, 1977, Vol 91, Issue 3, p511
- ISSN
0033-5533
- Publication type
Article
- DOI
10.2307/1885983