Artha Vijnana: Journal of The Gokhale Institute of Politics and Economics

P. R. Brahmananda

Abstract

Marxian Economic Theory has been repeatedly subjected to critical examination by the early Marginalist, and the latter-day Neo-Classical Schools of Economists. Bohm-Bawerk in Karl Marx and the Close of his System concentrated upon what appeared to him as contradictions in Marx's treatment of the value problem in Volume I and Volume III of Capital.

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P. R. Brahmananda

Abstract

The prototype of economics as revealed in general in the writings of Walras, Pareto, Wicksell, Hicks (prior to 'Capital and Growth'), Samuelson (of the 'Collected Scientific Papers'), and Joan Robinson (during the golden age of 'The Accumulation of Capital), conceives of the economic system as characterized by the existence of different consumption goods' mixes capable of yielding the same satisfaction flow and of different mixtures of techniques and production processes capable of producing the same bundles of goods. The linear approach postulates the simultaneous use of such diverse mixtures in an actual economic system.

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P. R. Brahmananda

Abstract

The phenomenon of time is the source of most of the complexities in the analysis of economic categories and relations among them. To the philosopher time may be a device to prevent everything from happening at once; but to the economist time spells trouble and more time means more variables, more permutations, and more disturbances. This is nowhere else better indicated than in the field of capital theory.

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P. R. Brahmananda

Abstract

Professor Harvey Leibenstein's name is familiar to economic-demographers. In an earlier book, titled "Theory of Economic-Demographic Development", Professor Leibenstein had tried to analyse the meaning and significance of the population obstacle through the methodology of modern aggregative theory.

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