Tag Archives: Petri

The Review of Political Economy has done a great service to those interested in political economy, and in particular those concerned with the revival of the surplus approach. It has published the manuscript of Pierangelo Garegnani's unpublished paper.From Fabio Petri's introduction: In the last year of his life, Pierangelo Garegnani (1930–2011) worked on revising a paper on Marx’s labour theory of value drafted 30 years before, which had remained unpublished. This revised paper is what...

New paper by Fabio Petri published in Œconomia. From the abstract: With the shift from traditional analyses where capital is a single value factor of variable ‘form’ to the neo-Walrasian versions, general equilibrium theory has encountered new problems pointed out by P. Garegnani (1976, 1990): impermanence problem, price-change problem, substitutability problem radically question the right to consider neo-Walrasian equilibria as approximating the actual path of real economies. The...

Ariel Dvoskin and Fabio Petri just got their paper published in Metroeconomica. From the abstract: Among the recent interventions in the capital controversy, the debate between Paola Potestio and Kurz & Salvadori has raised important issues. We agree with Potestio's rejection of the legitimacy of a value endowment of capital but we disagree with her dismissal of the relevance of reswitching and reverse capital deepening: these phenomena are very important because they undermine the...

Sometimes there is simple and right New paper by Professor Petri, which is always worth reading, titled "Nonsubstitution Theorem, Leontief Model, Netputs: Some Clarifications." From the abstract: The nonsubstitution theorem concerns long-period technical choice and relative prices, and was so understood in its first (1951) formulations, but the modern advanced micro textbooks that present it do not make this clear, rendering the theorem impossible to understand for students. These modern...