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ix | |
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xv | |
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xvii | |
Acknowledgements |
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xix | |
Introduction |
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1 | (4) |
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PART I Work, information and value |
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5 | (132) |
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7 | (23) |
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7 | (5) |
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1.2 Marx: the architect and the bee |
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12 | (7) |
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1.3 The demonic challenge |
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19 | (1) |
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20 | (10) |
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2 Problematizing information |
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30 | (17) |
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2.1 The Shannon--Weaver concept of information |
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30 | (8) |
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2.2 Entropy reductions in action programs |
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38 | (1) |
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2.3 Alternative views of information |
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38 | (9) |
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47 | (27) |
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3.1 Raising production in general |
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47 | (6) |
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3.2 Accelerated production |
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53 | (5) |
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3.3 Parallelizing production |
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58 | (16) |
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4 Babbage and the birth of digital technology |
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74 | (11) |
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74 | (1) |
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75 | (2) |
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4.3 Prony, Babbage and the division of mental labour |
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77 | (4) |
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81 | (4) |
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5 From machines to the universal machine |
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85 | (28) |
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5.1 Processing information |
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85 | (4) |
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89 | (8) |
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5.3 The universal Turing machine |
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97 | (2) |
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5.4 Decidability and the Church--Turing thesis |
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99 | (4) |
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5.5 The TM computability of markets |
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103 | (5) |
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108 | (5) |
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6 Political economy: value and labour |
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113 | (24) |
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113 | (4) |
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6.2 Labour commanded as a measure of value |
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117 | (2) |
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6.3 Labour time and the determination of value |
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119 | (2) |
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6.4 Ricardo: clarity achieved |
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121 | (4) |
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125 | (5) |
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6.6 Two challenges to the labour theory of value |
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130 | (6) |
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6.7 The probabilistic response |
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136 | (1) |
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PART II Exchange, money and capital |
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137 | (124) |
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7 The probabilistic approach to economic variables |
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139 | (9) |
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139 | (9) |
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8 The statistical mechanics of money |
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148 | (13) |
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148 | (1) |
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8.2 Boltzmann--Gibbs distribution |
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149 | (1) |
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150 | (2) |
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152 | (1) |
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153 | (2) |
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155 | (1) |
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8.7 Non-Boltzmann--Gibbs distributions |
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156 | (2) |
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8.8 Nonlinear Boltzmann equation vs. linear master equation |
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158 | (1) |
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159 | (2) |
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9 A probabilistic approach to the law of value |
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161 | (23) |
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161 | (2) |
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163 | (5) |
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168 | (6) |
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174 | (6) |
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180 | (4) |
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10 Value in the capitalist economy |
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184 | (19) |
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10.1 Farjoun and Machover's approach to price |
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185 | (3) |
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10.2 Information content of prices |
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188 | (2) |
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10.3 Prices and the rate of profit |
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190 | (2) |
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10.4 Empirical evidence for labour theory of value |
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192 | (11) |
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11 Money, credit and the form of value |
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203 | (30) |
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11.1 Money and the form of value |
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203 | (3) |
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11.2 Two theories of money |
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206 | (4) |
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11.3 Monetary relations and records |
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210 | (4) |
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11.4 Money space, an illustration |
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214 | (6) |
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11.5 Commodity--money space |
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220 | (6) |
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11.6 The logical properties of financial transactions |
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226 | (7) |
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233 | (28) |
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233 | (11) |
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12.2 The necessity of paper money |
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244 | (3) |
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247 | (7) |
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254 | (2) |
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12.5 Dominance of the financial sector |
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256 | (5) |
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PART III Class distribution of income |
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261 | (58) |
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13 A probabilistic model of the social relations of capitalism |
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263 | (29) |
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263 | (1) |
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13.2 A dynamic model of the social relations of production |
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264 | (7) |
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271 | (16) |
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13.4 A note on methodology |
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287 | (3) |
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13.5 Essential and inessential properties of capitalism |
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290 | (2) |
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292 | (27) |
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14.1 Sraffa: profit and the technology matrix |
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293 | (5) |
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14.2 Kalecki: profit and monetary flows |
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298 | (2) |
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14.3 Demographics and the long-run rate of profit |
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300 | (19) |
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PART IV Information and coordination |
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319 | (22) |
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15 Hayek, information and knowledge |
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321 | (20) |
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15.1 Inadequacy of the price form |
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323 | (9) |
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15.2 Information flows under market and plan |
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332 | (5) |
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15.3 The argument from dynamics |
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337 | (4) |
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341 | (2) |
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Appendix A The law of value: proofs |
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343 | (3) |
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Appendix B The law of value: experimental details |
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346 | (1) |
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Appendix C A simple planning program |
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347 | (2) |
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Appendix D Profits in the SA model |
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349 | (4) |
References |
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353 | (8) |
Index |
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361 | |