Mainstream economic methodology

Article Abstract:

A survey of mainstream economic methodology in the context of mainstream methodology and mainstream economics identifies tensions resulting from increased preference for descriptivism over prescriptivism. The increasing attention of methodologists to the practice of economists is welcome but the developments may deny methodology a constructive role and remove the focus on the foundations for theorizing. Non-mainstream methodology provides a non-dualistic solution for resolving current tensions.

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A re(in)statement of the labour theory of value: A comment

Article Abstract:

Mohun's new solution takes as given the monetary value of the net value added. A closed economy, without government, producing single commodities with circulating capital and labour is assumed. All commodities are products of labour, so the net output is proportional to total labour expended. From a Marxian viewpoint, the ratio between profits and capital is more relevant than the ratio of profits to wages.

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Pasinetti's vertically hyper-integrated sectors and natural prices

Article Abstract:

Pasinetti's proposed generalization of his previous work on vertical integration is explored within a simple framework, assisted by a three-industry model. Pasinetti's analysis considers basic commodities and interdependences, but short-circuits them. It is questioned whether such an approach is required to analyse growing sub systems.

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