Mariolis, Theodore (2019): The location of the value theories in the complex plane and the degree of regularitycontrollability of actual economies.

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Abstract
This paper expands the spectral analysis of the Sraffian value system, and shows that: (i) the hitherto alternative value theories can be conceived of as “perturbations” of the socalled pure labour value theory; (ii) these theories correspond to specific complex plane locations of the eigenvalues of the vertically integrated technical coefficients matrix; and (iii) the actual economies cannot be coherently analyzed in terms of the traditional value theories, despite the fact that their Krylov (or controllability) matrices are characterized by rather low degrees of regularitycontrollability and relatively low numerical ranks. Hence, on the one hand, the Sraffian value theory is not only the most general one but also provides a sound empirical basis, while on the other hand, realworld economies constitute almost irregularuncontrollable systems, and this explains the specific shape features of the empirical valuewageprofit rate curves.
Item Type:  MPRA Paper 

Original Title:  The location of the value theories in the complex plane and the degree of regularitycontrollability of actual economies 
Language:  English 
Keywords:  Almost irregularuncontrollable system; Characteristic value distributions; Circulant matrices; Degree of regularitycontrollability; Numerical rank; Value theories 
Subjects:  B  History of Economic Thought, Methodology, and Heterodox Approaches > B5  Current Heterodox Approaches > B51  Socialist ; Marxian ; Sraffian B  History of Economic Thought, Methodology, and Heterodox Approaches > B5  Current Heterodox Approaches > B53  Austrian C  Mathematical and Quantitative Methods > C6  Mathematical Methods ; Programming Models ; Mathematical and Simulation Modeling > C67  InputOutput Models D  Microeconomics > D4  Market Structure, Pricing, and Design > D46  Value Theory D  Microeconomics > D5  General Equilibrium and Disequilibrium > D57  InputOutput Tables and Analysis 
Item ID:  96972 
Depositing User:  Theodore Mariolis 
Date Deposited:  14 Nov 2019 16:51 
Last Modified:  14 Nov 2019 16:51 
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URI:  https://mpra.ub.unimuenchen.de/id/eprint/96972 