Moseley and Saros’s MELT in case of inconvertible paper money In developing Marx’s non-commodity theory of money which is largely an uncultivated area in Marxian economics, one of the crucial issues at stake is to establish the monetary expression of labour time (MELT) in case of inconvertible paper money consistently with Marx’s theory in general and not rejecting his labour theory of value in...

The data are a subsample from a data base generated for the evaluation of the Swiss active labour market policy together with Michael Gerfin. I am grateful to the Department of Economics of the Swiss Government (seco; Arbeitsmarktstatistik) for providing the data and to Michael Gerfin for his help in preparing them. The paper has been presented at the workshop Evaluation of Labour Market Polici...

Unemployment is at a low and stable level in Denmark. This achievement is often attributed to the so-called flexicurity model combining flexible hiring and firing rules for employers with income security for employees. Whatever virtues this model may have, a low and stable unemployment rate is not automatically among them since the basic flexicurity properties were also in place during the 1970...

We present a new and simple empirical methodology to identify relative wage rigidity dynamics. The methodology is applied to data from the Polish Labour Force Survey for the period 1994 to 1998. We estimate ceteris paribus changes in relative wage and unemployment differentials for various labour market defining characteristics. A simultaneous increase in the relative wage and the unemployment ...

In the 20 century there was an unbridgeable gap between the “right” and “left” schools of economics with respect to the determination of value of commodities. While Marxian scholars insisted, that human labour being the essence of value to have a good argument for demonstrating exploitation, mainstream economists in the West focused on marginal utility theory to keeping up their basic axiom of ...

Economics is a typical resource for social epistemology and the division of labour is a common theme for economics. As such it should come as no surprise that the present paper turns to economics to formulate a view on the dynamics of scientific communities, with precursors such as Kitcher (1990), Goldman and Shaked (1991) and Hull (1988). But although the approach is similar to theirs, the vie...

This paper summarizes and extends my earlier critique (Bhattacharjea, 2006) of the empirical literature on labour regulation and industrial performance in India. I now focus only on the impact of legal restrictions on temporary layoff, permanent retrenchment and plant closures. After summarizing my earlier paper, I describe in detail the variability of employment protection regimes across India...

In his book The Economics of Feasible Socialism Alec Nove criticizes the methods of Marxist economics, as misleading or irrelevant for the task of building socialism, and rejects the goal of Marxist politics—socialism without commodity production—as impossible of realization. Any effective answer to his objections must follow the same procedure that Marx employed in his study of the emergence o...

In this paper we investigate the impact of ethnic German immigration on the German labour market. Ethnic German immigrants are exogenously allocated to local labour markets upon arrival in Germany. The ethnic German immigrant inflows therefore serve as a natural experiment of immigration, avoiding the typical endogeneity problem of immigrant inflows with regard to local labour market conditions...

Individual choice of labour supply and fertility is studied, in a simple multi-generational general equilibrium model in which behaviour may be determined by genes. Equilibrium concepts from economics (Nash equilibrium) and biology (evolutionary stability) are linked in three propositions.  2000 Elsevier Science S.A. All rights reserved.