Keynesian, Sraffian, Computable and Dynamic Economics

Contents
Notes on Contributors
List of Figures
List of Tables
1: Introduction to the Zambelli Festschrift
	1	 Some Initial Remarks
	2	 Frisch’s Rocking Horse Does Not Rock!
	3	 Busy Beavers, the Phillips Machine, Differential Analyzers and Computability
	4	 Solving and Simulating Flexible Accelerator Coupled Dynamical Systems
	5	 Sraffian Economics
	6	 Summarizing Notes
	7	 Brief Notes on the Contributions to the Zambelli Festschrift
	References
2: Intuitions About Welfare—Under the Constraint of Computability
	1	 Introduction
	2	 The Good Merchant
		2.1	 Behaviour of Merchants and Customers
		2.2	 Governing the Merchants
		2.3	 Merchants’ Ability to Create Value
		2.4	 The Good Merchant—Where Value, Behaviour and Governance Meet
	3	 Economics Is About Welfare
		3.1	 Value
		3.2	 Governance
		3.3	 Behaviour
		3.4	 Welfare
	4	 Neoclassical Welfare Theory
		4.1	 Intersection Between Value Creation and Governance—Allocation
		4.2	 Intersection Between Value Creation and Behaviour—Preferences
		4.3	 Intersection Between Governance and Behaviour—Choice
	5	 Welfare—What Prices Are For?
	6	 Critiques Related to Computability
		6.1	 Critique Related to the Intersection Between Value Creation and Governance—Allocation
		6.2	 Critique Related to Preference Orderings: The Intersection Between Value Creation and Behaviour—Preferences
		6.3	 Critique Related to the Intersection Between Behaviour and Governance—Choice
		6.4	 Goodbye Walrasian Dream, Hello Moral and Ethics?
	7	 A Grand Unified Theory of Economic Welfare?
	8	 Intuitions on the Role of Morals in Creating Welfare
	References
3: Recasting Stefano Zambelli: Notes on the Foundations of Mathematics for a Post-Neoclassical Age in Economics
	1	 Introduction: An Epistemological Rumination
	2	 Zambelli Reloaded: Summing up the Logic of Computability
	3	 Remarks on the Foundations of Mathematics
	4	 Concluding Notes: Some Research Directions in Economic Theory
	References
4: Sraffa, Keynes and a New Paradigm
	1	 Introduction
	2	 Towards a Keynesian-Sraffian Synthesis
		2.1	 The Controversial Issues After the Cambridge Capital Controversy
		2.2	 Sraffians, Keynesians and the Search of a Synthesis: An Overview
	3	 Looking for a New Paradigm: Some Comments
		3.1	 The Role of Demand, Institutions and Society
		3.2	 The Complexity of the Real Economies
		3.3	 The Role of Accounting, Computability and Constructiveness
	4	 A Keynesian-Sraffian Monetary Theory of Production
		4.1	 From a Real to a Money-Wage Economy
		4.2	 Modelling a Monetary Entrepreneur Economy: From Keynes to Sraffa
	5	 Conclusions
	References
5: On the Meaning Maximization Doctrine: An Alternative to the Utilitarian Doctrine
	1	 Motivation and Introduction
	2	 Model of a Complex Life
	3	 Schopenhauer Mapping
	4	 Algorithmic Information Theory of Meaning
	5	 Meaning-Creation Genres
		5.1	 Genre One: Halting Problems
		5.2	 Genre Two: Space Filling
		5.3	 Genre Three: Gram-Schmidt Orthogonalization Process
		5.4	 A Corroborative Remark
	6	 Applications
		6.1	 Corpus Linguistics
		6.2	 Law of Diminishing Marginal Utility
		6.3	 Intrinsic Motivation
		6.4	 Capability Approach
		6.5	 Humanomics
		6.6	 Leadership and Governance
		6.7	 Meaning Crisis
		6.8	 Money and Power
	7	 Concluding Remarks
	Appendix: Epochs and Biographies: Agent-Based Modeling
	References
6: A Generalization of Sraffa’s Notion of ‘Viability’ in a ‘Land Grabbing’ Context
	1	 Preamble
	2	 Introduction
	3	 ‘Viability’ Within the Context of ‘Land Grabbing’
	4	 An Outline of the Recent Phenomenon of ‘Land Grabbing’
	5	 The Impact of ‘Land Grabbing’ on Populations and the Environment
	6	 The Notion of ‘Viability’ in Sraffa and in the Economic Literature
	7	 Quantities and Prices in the Sraffian Framework
	8	 The Treatment of ‘Land’ in the Economic Literature and in Sraffa
	9	 ‘Land’ in a Wider Context
	References
7: The Sea Battle Tomorrow: The Identity of Reflexive Economic Agents
	1	 The Identity of Reflexive Economic Agents
	2	 Standard Theory’s Equilibrium-Shock Model and Time
	3	 The Reflexive Economic Process Conception and Time
	4	 The Utility Conception of the Economic Agent and the Completeness Assumption
	5	 The Behavior and Identity of Reflexive Economic Agents
	6	 A Sea Battle Tomorrow?
	References
8: Production, Innovation, and Disequilibrium
	1	 Trento Days: From Engineering to Economics …
	2	 It is in the Transition That We Actually Have Our Being…
	3	 Innovation: Engine of Economic Growth
	4	 Viably Traversing the Disequilibrium …?
	5	 Traversing Beyond
	References
9: The Non-Robustness of Saddle-Point Dynamics: A Methodological Perspective
	1	 Introduction
	2	 Robustness and Methodology
	3	 Robustness in Economic Models
		3.1	 Step 1
		3.2	 Step 2
		3.3	 Step 3
		3.4	 Step 4
	4	 Two Economic Examples
		4.1	 Economic Growth Models
		4.2	 Rational Expectations Models
	5	 Linearization
	6	 Conclusions
	References
10: The Economic Intuitions at the Base of Stefano Zambelli’s Technical Contributions
	References
11: The Foreseeable Future
	References
12: Uniqueness in Planar Endogenous Business Cycle Theories
	1	 Introduction
	2	 Uniqueness Proofs in NETBC
		2.1	 Uniqueness of Limit Cycle: Kaldor’s Model
	3	 Uniqueness of Limit Cycle and Goodwin’s (1951) Model
		3.1	 Goodwin’s Non-linear Model
		3.2	 Sasakura’s Proof
			3.2.1 One-Sided Oscillator
	4	 Algorithmic Decidability and Uniqueness
		4.1	 Continuous-Time Models and Computability
		4.2	 Attractors of Dynamic Economic Models and Computability
		4.3	 Decidability of Attractors in Planar Models
		4.4	 Decidability of the Number of Attractors
	5	 Conclusion
	References
13: Nonlinear Endogenous Business Cycles: Zambelli-Goodwin Excursions in Cellular Automata Worlds
	1	 Introduction
	2	 Cellular Automata and Nonlinear Dynamics
	3	 Zambelli-Goodwin Excursions in Cellular Automata Worlds
		3.1	 Consumption
		3.2	 Investment
		3.3	 Transition Rules and Macrodynamics
	4	 Conclusions
	References
14: Chipping off to Compute Sraffa’s Standard Ratio
	1	 Introduction
	2	 The “Chipping Off” Algorithm
	3	 The Challenger and the Match
		3.1	 The Setup
	4	 Surprising Findings
		4.1	 An Economic Policy Question
	5	 Conclusions
	Appendix
	References
15: Observations on Computability, Uncertainty, and Technology
	1	 Introduction
	2	 Computational Complexity and Uncertainty
	3	 Technology and Computability
	4	 Conclusions
	References
16: Marx and the Other Sraffa: The Insignificant Empirical Effect of Price-Value Deviations on Economic Aggregates
	1	 The Visible Sraffa
	2	 The Other Sraffa
	3	 Empirical Investigations
	4	 Summary and Conclusions
	References
17: Corn-Model, Subsistence Economy and the Empirical Economy
	1
	2
	3
	References
18: The Zambelli Attractors of Coupled, Nonlinear Macrodynamics and Knot Theory
	1	 Introductory Notes
	2	 Elementary and Reidemeister Moves and Codes in Classical Knot Theory
		2.1	 Elementary Knot Moves (Fig. 18.4)
		2.2	 Reidemeister Moves (Fig. 18.5)
	3	 Jordan Curve Theorem, Existence of Limit Cycles and the Unknot
	4	 Concluding Notes and a Conjecture
		4.1	 A Conjecture
	References
Author Index
Subject Index