Normalised General Coordinates and Vertically Integrated Sectors in a Simple Case

Luigi L. Pasinetti

Chapter 10 in Nonlinear and Multisectoral Macrodynamics, 1990, pp 151-164 from Palgrave Macmillan

Abstract: Abstract Inter-industry economic analysis, whose roots go back to the works of François Quesnay and the classical economists (including Marx), has been recently rediscovered mainly through the works of Leontief (1951) and Sraffa (1960) — a rediscovery favoured by the development of computers in practical applications and by the spreading of matrix algebra in economic analysis. Inter-industry analysis has laid bare the interdependences among economic sectors, which are a basic feature of modern economic systems and at the same time are the source of endless analytical complications. For this reason, economic theorists have made several attempts at developing new analytical tools that may help to ease the complications.

Keywords: Wage Rate; Full Employment; Unit Labour Cost; Simple Technology; Effective Demand (search for similar items in EconPapers)
Date: 1990
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DOI: 10.1007/978-1-349-10612-7_10

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