Smith,Marshall and Young on division of labour and economic growth

The aim of this paper is to reconstruct the theory of division of labour and economic growth proposed by Adam Smith and developed by Alfred Marshall and Allyn Young. In their approach division of labour is the main engine of growth and plays a central role in capital accumulation and technological progress. We suggest that, according to their theory: 1) economic growth is endogenous; 2) it has the nature of a cumulative, path-dependent process; and 3) it can be described as a disequilibrium process, supported by competitive forces. We argue that these aspects make the contributions of Smith, Marshall and Young still insightful for the development of growth theory, even in the light of the modern approach of endogenous growth theory.     

Early Smithian economics in the Spanish empire: J. H. Vieytes and colonial policy *

Juan Hipolito Vieytes (1762–1815)was a hero of the May 1810 Revolution in Buenos Aires and one of the early economists in the River Plate area. Although Robert Sidney Smith dismissed Vieytes as a very minor figure in Spanish economic thought, this article attempts to show that Vieytes, an entrepreneur and journalist and only self-taught in political economy, was an early and able follower and divulgator of Smithian economics. He advocated free trade and liberal economic reforms, pointing at the competitiveness of the domestic workshops or ‘popular industry’ in a country with scanty population and extensive and cheap land.     

Robust correlations between prices and labour values: a comment

The paper addresses Kliman's criticisms of the observed correlationsbetween prices and labour values. It argues that the notionof spurious correlation is not relevant in this case. It examinesKliman's own simulations and shows that his statistical correctiontechniques involve dividing through by the signal to leave thenoise.     

Smith on Ancient Egypt and the Arab Islamic World: A Tale of Two Statist Models

This paper endeavors to portray Egypt, the Arab, and Islamic worlds in the eyes of Adam Smith as implied in his work An Inquiry into the Nature and Causes of the Wealth of Nations from the perspective of the extent and desirability of state intervention in the economy. In other words, the paper attempts to analyze why Smith's stance on ancient Egypt changed from an example of opulence to an eighteenth-century Egypt that—together with other Arab and Islamic countries—represents a model with many challengeable aspects, although the extent of the state action was remarkable in both models, the ancient and the contemporary. Our premise is that Smith did not defend or attack the models based on the extent of state intervention in the economy, but on whether its intervention was conducive to, first, raising the person's well-being and, second, promoting the morals of Smith's “commercial” society.     

对劳动价值理论和按生产要素分配理论的再认识

马克思主义经济学的基本原理告诉我们：商品价值量是由社会必要劳动时间决定的。而社会必要劳动时间又受到多方面因素的影响。本针对这个问题以及非劳动的生产要素不创造价值，但可以参与收益的分配等，做进一步的阐述与澄清，从而深化对劳动价值理论的认识。     

建筑行业包工制：农村劳动力使斥与城市空间生产的制度逻辑

本文试图通过对中国建筑行业普遍存在的包工制——其固有特征、运行逻辑、兴盛原因——的分析,运用马克思主义语境下的劳动力的使用与再生产这一视角重述空间政治经济学在中国的地方性实践,探索城市空间生产的制度逻辑。作者认为,包工制的再次兴盛是农民工“拆分型的劳动力使用模式”在空间生产领域中的具体体现,通过包工制度,原本在户籍制度限制之下割裂的农村劳动力的使用与再生产被纳入一个更受限制的空间,它将再生产策略与中国空间和地理的不平等相结合,既满足了城市的发展需要,又满足了资本的弹性积累需要。然而,由此而来的危机所导致的社会冲突随着经济的高速发展愈演愈烈,这些危机终究难以通过将非正式用工普遍化的包工制度得到彻底解决,在城市空间发展和资本积累过程中保障社会和谐的根本力量在于相关制度法规的建立健全和贯彻执行以及城市对于农民工劳动力再生产的承担。     

Job quality and the economics of New Labour: a critical appraisal using subjective survey data

This paper assesses the record on job quality during the earlyterm of office of the New Labour government by interpreting,from a political economy perspective, changes in a variety ofsubjective measures of job quality taken from several differentdata sources. We find some improvements in job quality overthe period 1998–2004; however we argue that these improvementshave arisen not because of New Labour's policies towards theworkplace but because of low and falling rates of unemployment.Despite recent improvements, a large number of workers in Britainremain in low quality jobs and, without a radical change ofpolicy direction, sustained and substantial progress in thequality of work will remain elusive.     

Pure joint production and international trade: a note

This paper applies the principles of the neo-Ricardian (or Sraffian)theory of international trade to certain joint production systems.It is shown that, in contrast with single-product systems, (i)there is not always a pattern of international specialisation,which would entail the increase of the real wage rate in botheconomies, and (ii) the ‘law of comparative advantage’has no general validity. Furthermore, not only the existenceof such a pattern of specialisation but also the validity ofthis law depend on the values of the variables of distributionof income. The analysis is wholly based on two of the numericalexamples formulated by Bidard in 1997, and further generalisedin an elementary way only when this is considered necessary.     

Helping "light green" consumers walk the talk: Results of a behavioural intervention survey in the Swiss electricity market

While many consumer surveys show very positive attitudes towards renewable energy, the share of consumers actually purchasing green electricity is still in the single-digit percent range in most countries. What can be done to help consumers with positive attitudes towards green electricity to “walk the talk”, i.e. to behave consistently with their preferences? We developed a psychological model based on the theory of planned behaviour (TPB) to design a large-scale behavioural intervention survey with 1163 Swiss electricity consumers. Our results show that by providing information targeted at the key factors influencing the intention to purchase green electricity, namely attitudes towards purchase, social norms and perceived behavioural control, a significant increase in green electricity market share can be achieved. Our results show that price is not the only barrier to purchasing green electricity, and that information to increase the perceived benefit of buying green electricity as well as targeted communication to overcome inertia among retail electricity consumers are equally important factors.     

Cooperation in R&D and production: a three-firm analysis

The paper analyzes, in a model of quantity-setting three firms, the interaction between cooperation decisions at the R&D stage and merger decisions at the production stage. We assume that only two of the three firms are capable of doing cost-reducing research. Two types of cooperative research, viz., the knowledge-sharing agreement and research joint venture are considered. Cost reduction in the case of a successful research joint venture is larger compared to knowledge sharing or independent research, due to possible synergies. We show that allowing mergers can change the organization of the R&D process, and admitting cooperative research can affect the occurrence and nature of mergers at the production stage.     

Household labour supply in Britain and Denmark: some interpretations using a model of Pareto Optimal behaviour

This paper analyses the labour supply behaviour of households in Denmark and Britain. It employs models in which the preferences of individuals within the household are explicitly represented. The households are then assumed to decide on their labour supply in a Pareto Optimal fashion. Describing the structure of the household decision in this way allows preliminary results to be obtained on the internal weighting of utilities within the household.     

Patterns and Determinants of Price Changes: Analysing Individual Consumer Prices in Austria

Abstract. We provide empirical evidence on the degree and characteristics of price stickiness in Austria by estimating the average frequency of price changes and the duration of price spells from a large dataset of individual price records collected for the computation of the Austrian consumer price index. The mean (median) duration of price spells in Austria amounts to 14 (11) months, but there is considerable heterogeneity across sectors and products. We find that price increases occur only slightly more often than price decreases. For both directions, the average magnitude of price changes is quite large (11% and 14%, respectively). The introduction of the euro cash in January 2002 led to more frequent but, on average, smaller price adjustments than usual. Estimating the probability of a price change in a panel probit model, we find a small but positive effect of the price spell duration on the incidence of price changes. Furthermore, product‐specific inflation, the size and the sign of the last price change and the period of the euro introduction significantly affect the probability of a price change.     

Socio economic impact of vegetable production in Senegal：a case study of Niayes area

Vegetable production plays a very important role not only as a source of foreign exchange for Senegal and an appreciation of the dietary needs of populations,but also in the context of the policy of diversification.Thus the aim of this analysis is to measure the important economic impact and vegetable industrial actors,find the limited factors of the horticulture development and the perspectives for improving the vegetable production in the area.Our results show that the National production of fruits and vegetables is estimated approximately at 370,000 tons and the Niayes zone constitutes 80%of the domestic production.Horticulture is a sector which creates employments in that area with important incomes earned by both producers and the various intermediaries（commercial process） .The volume of exports has reached 14,321.588 tons in（2002-2003） against 11,125.132 tons in（2001-2002） witnessing than an increase of 28.7%,but the one of imports is very important and represents an outflow of foreign currency estimated at about 3 billion per year.     

Notes and comments. A re(in)statement of the labour theory of value: a comment

The aim of this paper is to show that the main conclusions inMohun's (1994) paper rest on an implicit assumption: the compositionof net output has to remain constant. When this is removed,some paradoxical results are obtained.     

Application of ecological footprint in ecological industrial systems：a study case of maize-MSG production systems

To improve the comparability of the research results of ecological industry, the ecological footprint is appliedto analyze the resource utilization and environmental pollution in various subsystems, taking maize-MSG as a case.Results show that the production process from maize to MSG is a extended process of ecological footprint, and that theecological footprint of the maize production is the biggest; the extension of ecological footprint is followed by the increaseof footprint profit, which means that the extension of production chain is an important method to improve the resourcesprofit; the systems have a big proportion of the indirect energy ecological footprint; the air and water pollution in MSGsubsystem is the most serious. At last, it can be identified that ecological footprint is a good method to measure resourceutilization and environmental pollution in various subsystems of an integrated ecological industry.     

Labor scarcity and the turning point in the Chinese rural sectors: empirical evidences from a frontier production function study

The purpose of this study is to examine whether overemployment has existed in the Chinese agricultural sector since 2000. The moment when overemployment ceases to exist is called the ‘turning point.’ After the turning point, an economy would be classified as entering the developed stage. Since the later half of the 2000s, many studies have analyzed the turning point of the Chinese economy. However, these studies have not reached a consensus as to the existence of overemployment. Varieties of data sources for the empirical studies have affected the discrepancies of these results. This study uses the flow data (e.g., the days of work and the daily wage) rather than stock. From our estimation results, we confirm that the Chinese agricultural sector has been increasing its production efficiency. In addition, our study indicates that overemployment is decreasing in almost all provinces and some regions have achieved a turning point.     

Give peas a chance: Transformations in food consumption and production systems

Food production chains can be organised in a variety of ways. Conventional ‘industrial’ agricultural practices are based on advanced breeding techniques and major inputs of chemical fertilisers and pesticides. Food produced in this way is transport-intensive, requires high-energy processing, relies on modern retailing systems and demands high-tech kitchens. Many argue that the industrialised systems should be dismantled and replaced with alternative methods of agriculture, food processing and distribution that emphasise social and environmental sustainability. This paper looks at the environmental and social sustainability of different strategies for food systems by analysing the whole chain of production, processing, distribution and consumption activities of the production of frozen peas, a vegetable that is ‘symbolic’ of modern food systems and the UK diet.     

Deficit sustainability and inflation in EMU: An analysis from the Fiscal Theory of the Price Level

Price determination theory typically focuses on the role of monetary policy, while the role of fiscal policy is usually neglected. From a different point of view, the Fiscal Theory of the Price Level takes into account monetary and fiscal policy interactions and assumes that fiscal policy may determine the price level, even if monetary authorities pursue an inflation targeting strategy. In this paper we try to test empirically whether the time path of the government budget in EMU countries would have affected price level determination. Our results point to the sustainability of fiscal policy in all the EMU countries but Finland, although no firm conclusions can be drawn about the prevalence of either monetary or fiscal dominance.     

Renewable and nonrenewable energy production and economic growth in sub-Saharan Africa: a hidden cointegration analysis

The objective of this article is to investigate the hypothesis of asymmetric effects between economic growth and renewable and nonrenewable energy production. To this end, both the linear cointegration and the hidden cointegration methodology are employed, with the latter allowing a straightforward delimitation of the data in an economically sensible way. We test for the presence of hidden cointegration across 12 sub-Saharan African countries spanning the period 1971–2011. The empirical results confirm the growth hypothesis for a subset of countries, suggesting that their growth could be adversely affected by conservation policies, while for a second subgroup of countries they confirm the conservation hypothesis, indicating that conservation policies could enhance the growth process in these countries. The differentiation of the results could be captured entirely by the linear approach, indicating that the lack of cointegration between renewable energy production and economic growth found in previous studies may be due to failures to properly delimit the nonlinearity property in the data.