The Capital Theory Debate and the Almost Uncontrollability and Unobservability of Actual Economies

New theoretical and empirical evidence reveals that the actual input–output table economies of single production, which are usually studied in the value–capital theory literature, are almost similar to non-diagonalizable, triangular and both uncontrollable and unobservable (in the sense of Kalman) economies producing only one basic commodity and non-self-reproducing non-basics (in the sense of Sraffa), the immense majority of which are pure consumption commodities. Since (i) these basic commodities are the corresponding Sraffian Standard commodities of the original economies; (ii) the resulting empirical probabilities of non-monotonic price–profit rate curves and re-switching of techniques are by no means negligible; and (iii) systems and matrices are almost always completely controllable/observable and diagonalizable, respectively, it follows that the said actual input–output table economies are not only Sraffian but also of almost zero measure.

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The Capital Theory Debate and the Almost Uncontrollability and Unobservability of Actual Economies

Cited by 2 publications

References 20 publications

Demand multipliers and technical performance of a Southern Eurozone economy in hard times: Kalman–Leontief–Sraffa evidence from the Greek economy, 2010–2014

Demand multipliers and technical performance of a Southern Eurozone economy in hard times: Kalman–Leontief–Sraffa evidence from the Greek economy, 2010–2014

Zero Measure Sraffian Economies: New Insights from Actual Input–Output Tables

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