Social Norms, Fluctuations and Money in a Linear Model of Prices

Sergio Parrinello

Chapter 13 in The Notion of Equilibrium in the Keynesian Theory, 1992, pp 173-188 from Palgrave Macmillan

Abstract: Abstract In the following sections I intend to re-examine and extend the analytical representation of the production system underlying the Sraffian model (l+r)Ap + wL = Bp, with regard to the existence of social norms, fluctuaions and exchange costs related to a monetary economy.1 The approach suggested can be traced back to illustrious forebears — such as Petty (1690), Adam Smith (1776), Babbage (1835) and Marx (1867) — and to some economists closer to the present: von Neumann (1932), Georgescu Roegen (1971) and, in particular, Sraffa (1960).

Keywords: Transaction Cost; Social Norm; Wage Rate; Price Equation; Exchange Cost (search for similar items in EconPapers)
Date: 1992
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DOI: 10.1007/978-1-349-22086-1_13

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