RAKESH, FOR THE LAST TIME (gee it's fun to shout some times!), I DO NOT, NEVER HAVE, AND NEVER WILL USE SIMULTANEOUS EQUATIONS IN ANY OF MY WORK. If you really want to see how I model, then read some of my papers. The most useful here would be my CRITIQUE (yes, critique!) of Sraffian concepts on price formation in ROPE 1999: "Answers (and Questions) for Sraffians (and Kaleckians)", Review of Political Economy, Vol. 10, No. 1, 73-87. I work in NONLINEAR DIFFERENTIAL EQUATIONS. Where I use matrices (as in that article cited above), they are employed as components of a dynamic analysis. Steve At 08:26 PM 2/13/01 -0800, you wrote: >Steve writes in 4887: > > >> >> >>Why do I believe Marx would reject this? Because, at least on first glance, >>it allows you to put any numbers you like into your system--it brings in a >>level of arbitrariness which may appear to make the elaborated system >>(multi-commodity) consistent with its precept (labor as the only source of >>value), but which makes it impossible to have any structured analysis of >>any issue beyond that. > >But Steve by putting the same input and output prices into your >system, you are putting in the numbers you like because only then is >the price problem tractable in terms of simultaneous equations >(assuming resolution of the distributional issue). But the need to >close a mathematical problem does not make the assumption necessary >to do so not unrealistic. So I don't see how you have made any >argument that the numbers you want to put in (or rather the >stipulation that the numbers are the same at t0 and t1) are not >unrealistic and thus arbitrary. > >Yours, Rakesh > > Dr. Steve Keen Senior Lecturer Economics & Finance Campbelltown, Building 11 Room 30, School of Economics and Finance UNIVERSITY WESTERN SYDNEY LOCKED BAG 1797 PENRITH SOUTH DC NSW 1797 Australia s.keen@uws.edu.au 61 2 4620-3016 Fax 61 2 4626-6683 Home 02 9558-8018 Mobile 0409 716 088 Home Page: http://bus.macarthur.uws.edu.au/steve-keen/
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