BackBrowsing Documentos de Trabajo e Informes Técnicos by Author "ORMAZABAL, KEPA"
Now showing items 1-14 of 14
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A Fundamental Contradiction in Keynes' Conception of Income
Ormazabal Sánchez, Kepa Mirena
(2003-02)
I contend that Keynes provides two contradictory definitions of aggregate income. According to the first definition, which is the dominant in Keynes as well as the standard in current Macroeconomics, the full value of ... -
A Fundamental Contradiction in Standard Rent Theory: A Case Study on Varian's "Intermediate Microeconomics"
Ormazabal Sánchez, Kepa Mirena (2004)
In this paper, I examine Varian’s treatment of rent in his textbook on Microeconomics. I argue that he holds contradictory conceptions: sometimes rent is defined as surplus over cost whereas sometimes it is defined as cost, ... -
A new look at Marx's refutation of Ricardo's refutation of the labor theory of value
Ormazabal Sánchez, Kepa Mirena (2011)
In this paper, I would like to bring back to light the forgotten critique of Marx to the widely accepted view that Ricardo succeeded in refuting the universal validity of the labor theory of value in "Principles", chapter ... -
Adam Smith on Capital and Income
Ormazabal Sánchez, Kepa Mirena (2002-02)
In this paper I critically analyze Smith's thesis in book I, chapter 6 of the "Wealth of Nations" that the replacement of the capital goods consumed in production becomes fully income. I argue that Smith’s argument is ... -
Adam Smith on labour and value: challenging the standard interpretation
Ormazabal Sánchez, Kepa Mirena (2006)
This paper has two parts. In the first I critically analyze Smith’s refutation of the labor theory of value in book I, chapter 6 of his “Wealth of Nations”. My thesis is that Smith’s refutation is unsound and that Ricardo ... -
Are Labor and Freedom Compatible? Political Economy, Hegel’s Practical Philosophy and the Young Marx
Ormazabal Sánchez, Kepa Mirena (Fundamentos del Análisis Económico I, UPV/EHU, 2017)
The question discussed in this paper is whether a political society not emancipated from labor can be a free society. In a less abstract way, the question can be posed as follows; can a society with a laboring class and a ... -
Dornbusch and Fischer on Capital and Income
Ormazabal Sánchez, Kepa Mirena (2002-05)
In this paper I critically analyze the relationship that professors Dornbusch and Fischer establish among the concepts of GNP, NNP and aggregate income. In principle, aggregate income is NNP; indeed, the whole point of ... -
Lowndes and Locke on the value of money
Ormazabal Sánchez, Kepa Mirena (2007)
In this paper I analyze the monetary theories underlying the arguments that Locke and Lowndes directed against each other during their discussions around the Great Recoinage of 1696. My primary place of interest is the ... -
Marx´ Critique of the Currency Principle
Ormazabal Sánchez, Kepa Mirena (2009)
The goal of this paper is to rescue the critique of Marx of the Currency Principle from its current oblivion. The ideas of Marx are extraordinarily interesting both from a theoretical and from a practical standpoint, as ... -
Mas-Colell, Whinston and Green Versus Scitovsky on Profit and Utility Maximization
Ormazabal Sánchez, Kepa Mirena (2005)
I contrast the theoretical foundation of profit maximization of Mas-Colell, Whinston and Green’s “Microeconomics” against that provided by Scitovsky in a paper of 1943. Whereas Mas-Colell, Whinston and Green try to show ... -
Profit and Cost in "Modern" Post-Marxian Profit Theory: A Case Study from Varian's "Intermediate Microeconomics"
Ormazabal Sánchez, Kepa Mirena (2003-09)
In this paper, I examine the treatment of competitive profit of professor Varian in his textbook on Microeconomics, as a representative of the “modern” post-Marxian view on competitive profit. I show how, on the one hand, ... -
Profit as Cost versus Profit as Surplus over Cost: A Case Study on Varian's "Intermediate Microeconomics"
Ormazabal Sánchez, Kepa Mirena (UPV/EHU. Departamento de Fundamentos del Análisis Económico I/Ekonomi Analisiaren Oinarriak I Saila, 2004-12)
On the analysis of Varian’s textbook on Microeconomics, which I take to be a representative of the standard view, I argue that Varian provides two contrary notions of profit, namely, profit as surplus over cost and profit ... -
Quesnay and Leontief on Capital and Income
Ormazabal Sánchez, Kepa Mirena (2002-03)
I analyze Quesnay's explanation of the "Tableau Economique" of 1766 in order to show that he made a clear distinction between capital and income. In holding this distinction, Quesnay rejected the nowadays currently accepted ... -
The Ohlin-Keynes Debate on the German Interwar Reparations Revisited
Ormazabal Sánchez, Kepa Mirena (2008)
This paper analyzes the debate between Ohlin and Keynes on the question as to whether Germany was able to make the payments specified in the Dawes Plan. Keynes argued that Germany was able to collect the money but unable ...