The Classical approach to distribution and the “natural system”

The modern reformulation of Classical analysis of value and distribution built upon Sraffa’s Production of Commodities provides quite a general and open framework to study distributive relationships, that deserves to be still explored. The present work aims to go through these relationships according to the perspective ensuing from the notion of “natural economic system”, developed by Pasinetti. The natural economic system is a sort of ideal configuration, which allows to accomplish the potentialities of the production system concerning growth, employment and the satisfaction of final wants. Actual (capitalist) economies do not normally fulfil the “natural” configuration. But this configuration can be considered a reference point in order to discriminate between the conditions that have to be verified for the system to reproduce itself and grow according to its potentialities, and the conditions that have to be regarded as pertaining to the institutional sphere. On this perspective several indications can be drawn on various aspects. In this work we shall focus on the normative conclusions that can be drawn about income distribution. Firstly a description of the characteristics and the implications of the “natural” configuration of income distribution will be provided: we will focus on natural rates of profit (which are differentiated among sectors), on the natural level of wages and on the natural rate of interest. Secondly we will depict some instruments to orientate the actual set-up of capitalistic economies towards the natural configuration. In particular we will develop a notion of uniform natural profit rate and we will describe the consequent necessary (“natural”) financial system which allows the natural accumulation of capital to be realized in a capitalistic context, where profit rates tend to be uniform.Average natural profit rate; Classical political economy; Labour theory of value; Natural system; Natural profit rates; Prices; Sraffa framework; Structural change; Surplus approach

Pasinetti on Ricardo

Ricardo, ‘corn’ theory of profit, Sraffa’s Standard commodity

Sraffa’s price equations in light of Garegnani and Pasinetti - The ‘core’ of surplus theories and the ‘natural’ relations of an economic system

Within the rich literature that has flowed from Sraffa’s framework of Production of Commodities by means of Commodities a prominent position is occupied by the research programmes carried out independently by two authoritative exponents of this school: Pierangelo Garegnani and Luigi Pasinetti. Certain specific features of their approaches might lead one to perceive them as alternative to one another. Yet, when analysed through a constructive perspective, one discovers not only a common origin and methodology, but also strict complementarity in analysing the main characteristics of industrial systems

The Classical approach to distribution and the “natural system”

The modern reformulation of Classical analysis of value and distribution built upon Sraffa’s Production of Commodities provides quite a general and open framework to study distributive relationships, that deserves to be still explored. The present work aims to go through these relationships according to the perspective ensuing from the notion of “natural economic system”, developed by Pasinetti. The natural economic system is a sort of ideal configuration, which allows to accomplish the potentialities of the production system concerning growth, employment and the satisfaction of final wants. Actual (capitalist) economies do not normally fulfil the “natural” configuration. But this configuration can be considered a reference point in order to discriminate between the conditions that have to be verified for the system to reproduce itself and grow according to its potentialities, and the conditions that have to be regarded as pertaining to the institutional sphere. On this perspective several indications can be drawn on various aspects. In this work we shall focus on the normative conclusions that can be drawn about income distribution. Firstly a description of the characteristics and the implications of the “natural” configuration of income distribution will be provided: we will focus on natural rates of profit (which are differentiated among sectors), on the natural level of wages and on the natural rate of interest. Secondly we will depict some instruments to orientate the actual set-up of capitalistic economies towards the natural configuration. In particular we will develop a notion of uniform natural profit rate and we will describe the consequent necessary (“natural”) financial system which allows the natural accumulation of capital to be realized in a capitalistic context, where profit rates tend to be uniform

The Causal Effects of Income Support and Housing Benefits on Mental Well-Being: An Application of a Bayesian Network

© 2016 John Wiley & Sons Ltd. This study explores the causal effects of air pollution, income support, housing benefits and household income on the subjective mental well-being in United Kingdom (UK). Additionally, the analysis considers the effects of air pollution and weather conditions. The estimates are based on data from the British Household Panel Survey. The results show that those who are unemployed or who have a low income and who claim the benefits report higher levels of mental well-being than those who do not claim them. Moreover, the marginal willingness to pay (MWTP) for an improvement on air quality are lower in the case of the Bayesian Network

Does social cognition change? Evidence after 4 years from the Italian Network for Research on Psychoses

Background Deficits in social cognition (SC) are significantly related to community functioning in schizophrenia (SZ). Few studies investigated longitudinal changes in SC and its impact on recovery. In the present study, we aimed: (a) to estimate the magnitude and clinical significance of SC change in outpatients with stable SZ who were assessed at baseline and after 4 years, (b) to identify predictors of reliable and clinically significant change (RCSC), and (c) to determine whether changes in SC over 4 years predicted patient recovery at follow-up. Methods The reliable change index was used to estimate the proportion of true change in SC, not attributable to measurement error. Stepwise multiple logistic regression models were used to identify the predictors of RCSC in a SC domain (The Awareness of Social Inference Test [TASIT]) and the effect of change in TASIT on recovery at follow-up. Results In 548 participants, statistically significant improvements were found for the simple and paradoxical sarcasm of TASIT scale, and for the total score of section 2. The reliable change index was 9.8. A cut-off of 45 identified patients showing clinically significant change. Reliable change was achieved by 12.6% and RCSC by 8% of participants. Lower baseline TASIT sect. 2 score predicted reliable improvement on TASIT sect. 2. Improvement in TASIT sect. 2 scores predicted functional recovery, with a 10-point change predicting 40% increase in the probability of recovery. Conclusions The RCSC index provides a conservative way to assess the improvement in the ability to grasp sarcasm in SZ, and is associated with recovery

Original Article

The pancreas taken from the frog (Rana nigromaculata) was fixed in 1% OsO_4 and sliced into ultrathin sections for electron microscopic studies. The following observations were made: 1. A great \u27number of minute granules found in the cytoplasm of a pancreatic cell were called the microsomes, which were divided into two types, the C-microsome and S-microsome. 2. Electron microsopic studies of the ergastoplasm showed that it is composed of the microsome granules and A-substance. The microsomes were seen embedded in the A-substance which was either filamentous or membranous. The membranous structure, which was called the Am-membrane, was seen to form a sac, with a cavity of varying sizes, or to form a lamella. 3. The Am-membrane has close similarity to α-cytomembrane of Sjostrand, except that the latter is rough-surfaced. It was deduced that the Am-membrane, which is smooth-surfaced, might turn into the rough-surfaced α-cytomembrane. 4. There was the Golgi apparatus in the supranuclear region of a pancreatic cell. It consisted of the Golgi membrane, Golgi vacuole and. Golgi vesicle. 5. The mitochondria of a pancreatic cell appeared like long filaments, and some of them were seen to ramify. 6. The membrane of mitochondria, i. e. the limiting membrane, consisted of the Ammembrane. The mitochondria contained a lot of A-substances, as well as the C-microsomes and S-microsomes. When the mitochondria came into being, there appeared inside them chains of granules, which appeared like strips of beads, as the outgrowths of the A-substance and the microsome granules attached to the Am-membrane. They are the so-called cristae mitochondriales. 7. The secretory granules originate in the microsomes. They came into being when the microsomes gradually thickened and grew in size as various substances became adhered to them. Some of the secretory granules were covered with a membrane and appeared like what they have called the intracisternal granule of Palade.It seemed that this was a phenomenon attendant upon the dissolution and liqutefaction of the secretory granule. 8. Comparative studies were made of the ergastoplasm of the pancreatic cells from the frogs in hibernation, the frogs artificially hungered, the frogs which were given food after a certain period of fasting, the frogs to which pilocarpine was given subcutaneously, and the very young, immature frogs. The studies revealed that the ergastoplasm of the pancreatic cells greatly varied in form with the difference in nutritive condition and with different developmental stages of the cell. The change in form and structure occured as a result of transformation of the microsomes and A-substance. The ergastoplasm, even after it has come into being, might easily be inactivated if nutrition is defective. The ergastoplasm is concerned in the secretory mechanism, which is different from the secretory phenomenon of the secretory granules. It would seem that structurally the mitochondria have no direct relation to this mechanism