Here is the lemmygrad post I made it at (don’t wanna have to copy everything over).
Please give the post lots of , the post would really appreciate it
Don’t be afraid to ask questions.
Here is the lemmygrad post I made it at (don’t wanna have to copy everything over).
Please give the post lots of , the post would really appreciate it
Don’t be afraid to ask questions.
To test Wright’s non-standard value you’ll need to introduce an exploiting class. For the purpose of the simulation you would have to add some population that consumes but does not contribute labor to production. You can have separate consumption vectors for the working class and the exploiting class. The net product n would then be sum of the worker’s and the exploiter’s consumption, n = cW + cK. Start with the exploiting class consumption = 0, and you can slowly increase it to check the impact it has on prices.
For a micro model which with no exploitation and is simple commodity production you can find his paper The Emergence of the Law of Value in a Dynamic Simple Commodity Economy. For a different micro model with exploitation (but abstracts away from different commodities and input output tables) you can check out his Implicit Microfoundations for Macroeconomics or his The Social Architecture of Capitalism, both papers have similar simulations. But value isn’t discussed in the last two papers.
For a macro model, with the emergence of value and prices corresponding to values, you can check out Convergence to Natural Prices in Simple Production for simple commodity production with no exploitation and Classical Macrodynamics and the Labor Theory of Value for a macro model with exploitation.
Also, for a theoretical discussion of the work you can either check out his thesis, The Law of Value or specific papers such as a discussion paper where he discusses his non-standard value Nonstandard Labor Values, or a more detailed paper Marx’s Transformation Problem and Pasinetti’s Vertically Integrated Subsystems
I find this field fascinating and I love simulations. Hopefully I can share something of my own one day. So I’d like to congratulate you, and also love to hear about any updates!
All of those sound interesting, I will check them out.
I would love to share them. Hopefully I have something good by the end of the week.