By Thomas T. Sekine, Robert Albritton
Kozo Uno encouraged an entire new release of marxian political economists in put up global struggle II Japan. Thomas Sekine labored heavily with Uno in Japan and later got here to York collage in Toronto, the place he brought Uno's principles to Canadian students. Sekine has considerably enlarged and sophisticated Uno's paintings, and within the technique has motivated students in either Japan and Canada. This anthology is a suite of essays in marxian political economic system by means of students who've been encouraged via Sekine's specific appropriation of Uno's ideas.
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Extra resources for A Japanese Approach to Political Economy: Unoist Variations
When, at the beginning of this chapter, we said, in common parlance, that a commodity is both a use-value and an exchange value, we were, accurately speaking, wrong. " Capital (the International Publishers edition) I, p. 60. The problem goes back to the classical school, whose labour theory of value was described to be only about 93% a labour theory of price. (See the well known article by G. J. J. Stigler, Essays in the History of Economics, University of Chicago Press, Chicago, 1965. pp. 326-42.
If Xi (i = x, y, z) represent the quantities of the capital-good, and Li (i = x, y, z) the number of hours of labour spent for the production of X, Y, Z, then the technology complex can be written as follows: (T) (1) The component techniques of T are all value-determining "social" techniques systhesized by the method discussed in Section 9 of the text. In order for this economy to be reproducible, it is necessary that the condition of self-replacement should hold. This guarantees that all values "-i (i = x, y, z) are meaningfully positive.
Even so, however, one can say the following. If the ratio AxO(1 + e): PxO/w is the largest with regard to the i-th capital-good and the smallest with regard to the j-th capitalgood, then the ratio in any sector must be between these two extremes. For the problem at hand, however, detail is not important. For simplicity it may be assumed that, if in the wage-goods sector the capital composition in price is x% higher than that in value, the same deviation applies in all other sectors, though in reality it varies within limits.
A Japanese Approach to Political Economy: Unoist Variations by Thomas T. Sekine, Robert Albritton