Comment on H. Nicholas&apos;s Paper “What is the Problem with Neoclassical Price Theory?”

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World Review of Political Economy

Volume 6, Issue 1

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Comment on H. Nicholas's Paper “What is the Problem with Neoclassical Price Theory?”

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Author(s): Ezra Davar

Publication date (Print): Spring 2015

Journal: World Review of Political Economy

Publisher: Pluto Journals

Keywords: neoclassical, Walras, post-Walras, production, capital and money, commodity prices

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Author and article information

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Journal ID (doi): 10.13169

Journal ID (publisher-id): worlrevipoliecon

Title: World Review of Political Economy

Publisher: Pluto Journals

ISSN (Print): 2042891X

ISSN (Electronic): 20428928

Publication date (Print): Spring 2015

Volume: 6

Issue: 1

Pages: 132-147

Article

Publisher ID: worlrevipoliecon.6.1.0132

DOI: 10.13169/worlrevipoliecon.6.1.0132

SO-VID: 7acc32c4-1e33-42d9-8366-f94c010354de

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Notes

Marx stated, “CAPITAL—Profit (Profit of Enterprise plus Interest), Land—Ground-Rent, Labor— Wages, this is the trinitarian formula which comprises all the secrets of the social process of production.” http://www.econlib.org/library/YPDBooks/Marx/mrxCpC48.html#Part VII, Chapter 48
“Walras's ‘cash-balance’ theory of money is both valuable in itself and remarkable in the way it is integrated into his general equilibrium system” (Hutchison [1953] 1962, 209).
“In particular, the best-developed modern Walrasian general-equilibrium models cannot find room for money” (Bridel 1997).

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[1] Marx stated, “CAPITAL—Profit (Profit of Enterprise plus Interest), Land—Ground-Rent, Labor— Wages, this is the trinitarian formula which comprises all the secrets of the social process of production.” http://www.econlib.org/library/YPDBooks/Marx/mrxCpC48.html#Part VII, Chapter 48

[2] “Walras's ‘cash-balance’ theory of money is both valuable in itself and remarkable in the way it is integrated into his general equilibrium system” (Hutchison [1953] 1962, 209).

[3] “In particular, the best-developed modern Walrasian general-equilibrium models cannot find room for money” (Bridel 1997).