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A review of US & European econ theory & SP theory shows that the latter has had little influence upon the former. Labor relations & legal econ's are seen to come closest to a "cultural econ's." Cultural econ's would have to include all dyadic relationships which involve exchangeables or goods, whether they conform to the traditional form of exchange or not. An example is given in a discussion of the integrative system which produces gifts & the learned behavior involved in this which arises out of culture. The transmission of culture depends a great deal on serial reciprocity. A "polydynamic" approach is suggested & it is held that a cultural econ's must be evolutionary. The processes of soc evolution are a good deal more complex than those of biological evolution. The critical question for evolutionary econ's is whether a disequilibrium, ie, a divergence between the actual price set & the equilibrium price set, will work back on the supposed determinants of the equilibrium as well as work on moving the actual price set towards the equilibrium. What one looks for, therefore, is a general evolutionary theory which can illuminate not only biological evolution, but cultural evolution, linguistic evolution, econ evolution, religious evolution, class evolution, fam evolution, sexual evolution, etc. The general outlines for such a theory are expressed such: "(1) The dynamic processes of any existing system will produce strain; (2) once that strain increases beyond a certain threshold something will give, that is, there will be a change in the parameters in the system; (3) a system gives at its weakest point, that is, what adjusts is the most easily adjustable. Any specific adjustment, however, creates further strain in other parts of the system, so the process starts all over again." M. Maxfield.

Ricardo's Principles are the most difficult book on economics ever written. It is difficult enough even to understand it, more difficult to interpret it and most difficult to estimate it properly.–Joseph A. SchumpeterJudging the accomplishments of the past by the standards of the present, perhaps each generation must make its own attempt at understanding the great masters. It has been said that "Ricardo was the first to present a complete model—one which, for all its faults, was self-consistent and displayed the whole economy as a single interdependent system." The present paper is an attempt to isolate that self-consistent model and to set it out rigorously. Anyone trying to isolate it must be painfully aware of the possibility that what he is removing may be more valuable than what he is preserving. However, the criterion of consistency leaves him little choice. Having isolated the self-consistent model, he must relate it to our own thinking. The latter emphasizes aggregation, occupies itself increasingly with the underdeveloped two-thirds of the world, and sees no "law" of diminishing returns outside agriculture. In these three senses it is becoming more Ricardian.Consider three sectors, each producing a homogeneous product or service, that is, a consumers' goods industry, a producers' goods industry, and a labour household sector. The subscripts used to designate the three sectors are c, p, and l, respectively. The consumers' goods industry is facing a production function having one output and three inputs in it. The output consists of consumers' goods, the inputs consist of labour services, services rendered by durable man-made producers' goods, and services rendered by indestructible nature-given land.

A famous paper by Conrad and Meyer calculates that on the eve of the American Civil War, slave prices were about equal to the present values of the slaves' labor services. They argue that this is evidence for the proposition that ordinary economic forces, without political intervention were not likely to put an end to slavery. I wrote this paper when pretty much the only economics that I knew was 1) how to prove the existence of competitive general equilibrium. 2) how to calculate present values. So the paper does two things. It shows how to apply Arrow-Debreu type existence theory to an economy with slavery. (this involved some technical wrinkles that were not in the existing existence literature.) More importantly, it argues that the calculations of Conrad and Meyer showed only that capital markets for slaves were working pretty well, but were not direcly relevant to the question of whether slavery as an institution was economically viable. To answer the latter question, we need to calculate two things. 1) Does an infant slave have positive present value? [If not, reproduction would be discouraged.] 2) Would a freed adult slave, perhaps because of the better incentives and opportunities for free people, be able to earn more than enough on the labor market to repay his or her market price to a slaveowner. I investigate the latter two questions empirically. The answer to the first question is "Yes". Spotty evidence suggests that the answer to the second question was also often "Yes."

I / Production -- II / Consumption -- III / Economic Equilibrium -- IV / The Social Economic Optimum -- V / Discounting -- VI / Marginal Costs -- VII / The Choice of Investments -- VIII / Public Investment and State Choice -- IX / The Replacement of Equipment -- X / Amortisation -- XI / Accounting Costs and Economic Theory -- XII / Criteria of Choice in the Face of an Uncertain Future.

As an approach to economic problems, the input-output analysis
is in the tradition of general equilibrium economics. However, it is a
general equilibrium analysis with numerical strength. It is a general
equilibrium theory because it analyzes all the industrial sectors of the
economy simul¬taneously with special emphasis on the production
relations among the industries. It is an approach with numerical
strength because the basic formulation of the theory is amenable to
statistical implementation in the econometric sense. Being such, this
approach can be, and has been, applied to provide numerical answers to
problems related to total economic mobilization of an economy, e.g., for
war, for peace or for economic development. For this reason, it has a
direct policy orientation; and, can be usefully applied to planning for
economic development. On account of the fact that it is a general
equilibrium theory with numerical strength, the input-output analysis is
not an inexpensive approach. This is due to the fact that stupendous
effort is involved in the collection and the processing of statistical
data, for all the major production sectors, as well as in tabulation and
computation. This is difficult even when the data are available, and
when the data are not available, an effort in this direction is thwarted
at the very initial stage. The standard reason given for not applying an
input-output approach in planning for economic development is that data
are not available. In this respect, Pakistan is a typical case. It is
the purpose of this paper to present a preliminary input-output table
for large-scale industries in Pakistan. As the base year for table, we
have selected calendar year 1955, primarily because for this year the
census of manufacturing industries is most detailed and most suitable
for our purpose. As far as we know, this table is the first of its kind.
However, in view of the data problem, the input-output table that will
be presented is only a preliminary one. Not only does it exclude all
production sectors

1. Linear programming in growth model over an infinite horizon -- 2. Mathematical formulation of the linear programming system -- 3. Directedness, feasibility, and regularity -- 4. Partial objective functions -- 5. Inferiority -- 6. Optimality -- 7. Parametric properties -- 8. Paths of equilibrium -- 9. Semi equilibrium paths -- 10. Equivalent linear programming problems over a finite horizon -- References -- List of symbols.