Can we meaningfully speak of changes in price under the regime of changes in techniques?

This paper presents a simulation exercise on Sraffa's system under various types of technical changes to show that the direction of changes in prices of commodities is contingent on the choice of the numeraire. Thus, such a comparison of prices in two systems turns out to be meaningless. This result points to the arbitrary nature of the neoclassical supply functions, as they inevitably compare prices across several Sraffa systems on the basis of an arbitrarily chosen numeraire. We anticipated such a result from our reading of Sraffa as part of his 'prelude to a critique of economic theory'

Normal Utilization as the Adjusting Variable in Neo-Kaleckian Growth Models: A Critique

As well-known, the canonical Neo-Kaleckian growth model fails to reconcile actual and normal rates of utilization in equilibrium. Some recent contributions revive an old proposal for solving this problem – making the normal rate of utilization an endogenous variable that converges to the actual utilization rate – justifying it with new, micro-founded premises. We argue that these new justifications for the convergence of normal to actual utilization do not stand closer scrutiny. First, the proposed microeconomic model relies on various restrictive assumptions, some of which are mutually inconsistent. Second, the derivation of the macroeconomic adjustment mechanism from the microeconomic analysis involves a logical leap, that can be justified only by a very arbitrary assumption with little economic justification. Finally, we discuss the way in which this mechanism has been incorporated into the Neo-Kaleckian growth model by proposers of this approach. We show that, even if one puts aside, for the sake of argument, the first two points, the existence of autonomous components of demand is sufficient to invalidate the resulting macroeconomic model

The Information Economy and the Labor Theory of Value

This article discusses aspects of the labor theory of value in the context of the information industries. First, taking the Temporal Single-System Interpretation (TSSI) of Marx’s labor theory of value as methodology, the paper calculates economic demographics at the level of socially necessary labor time and prices of an example case. Second, the paper questions the assumption that the labor theory of value cannot be applied to the information industries. This paper tests this hypothesis with an analysis of the development of labor productivity in six countries. The paper concludes that the labor theory of value is an important tool for understanding the information economy and the peculiarities of the information commodity

Marx’s metaphysics of human labour in the light of Sraffa : labour theory of value reconsidered

In this chapter, I analyse the foundations of Marx’s analysis of a capitalist economy in terms of labour time to locate the root cause of Marx’s problem of relating values to prices and surplus values to profits, and then show how Sraffa succeeds in solving the problem by liberating Marx from his metaphysics of “human labour.

Patterning and process parameter effects in 3D suspension near-field electrospinning of nanoarrays

The extracellular matrix (ECM) contains nanofibrous proteins and proteoglycans. Nanofabrication methods have received growing interest in recent years as a means of recapitulating these elements within the ECM. Near-field electrospinning (NFES) is a versatile fibre deposition method, capable of layer-by-layer nano-fabrication. The maximum layer height is generally limited in layer-by-layer NFES as a consequence of electrostatic effects of the polymer at the surface, due to residual charge and polymer dielectric properties. This restricts the total volume achievable by layer-by-layer techniques. Surpassing this restriction presents a complex challenge, leading to research innovations aimed at increasing patterning precision, and achieving a translation from 2D to 3D additive nanofabrication. Here we investigated a means of achieving this translation through the use of 3D electrode substrates. This was addressed by in-house developed technology in which selective laser melt manufactured standing pillar electrodes were combined with a direct suspension near-field electrospinning (SNFES) technique, which implements an automated platform to manoeuvre the pillar electrodes around the emitter in order to suspend fibres in the free space between the electrode support structures. In this study SNFES was used in multiple operation modes, investigating the effects of varying process parameters, as well as pattern variations on the suspended nanoarrays. Image analysis of the nanoarrays allowed for the assessment of fibre directionality, isotropy, and diameter; identifying optimal settings to generate fibres for tissue engineering applications

Outsourcing and structural change: shifting firm and sectoral boundaries

The paper aims at investigating the structural change implications of outsourcing. In trying to bridge the organizational/industrial and the sectoral/structural analysis of outsourcing, it discusses the rational and the methodological pros and cons of a “battery” of outsourcing measurements for structural change analysis. Their functioning is then illustrated through a concise application of them to the OECD area over the ’80s and the early ’90s. A combined used of them emerges as recommendable in checking for the role of outsourcing with respect to that of other structural change determinants