The analytical device of partitioning an economic system into subsystems (and correspondingly of constructing vertically integrated sectors) can be taken one step further into dynamic analysis, with remarkable implications. In fact, if one looks at the physical quantities side, as against the price side, of the usual equations representing a production economic system, one may notice a formal asymmetry. The Author shows that the asymmetry disappears when the scheme is further generalized to vertically hyper-integrated sectors.
Pasinetti, L. L., Growing (or hyper) subsystems and vertically hyper-integrated sectors: Appendix, in Schefold, B., Bharadwaj, K. (ed.), Essays on Piero Sraffa Critical Perspectives on the Revival of Classical Theory, HarperCollins Publishers Ltd, Greater London Concil 1990: 239- 249 [http://hdl.handle.net/10807/67369]
Growing (or hyper) subsystems and vertically hyper-integrated sectors: Appendix
Pasinetti, Luigi Lodovico
1990
Abstract
The analytical device of partitioning an economic system into subsystems (and correspondingly of constructing vertically integrated sectors) can be taken one step further into dynamic analysis, with remarkable implications. In fact, if one looks at the physical quantities side, as against the price side, of the usual equations representing a production economic system, one may notice a formal asymmetry. The Author shows that the asymmetry disappears when the scheme is further generalized to vertically hyper-integrated sectors.
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