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Emmanuel Farjoun and Moshe Machover: Laws of Chaos, A Probabilistic Approach to Political Economy" (1983)

Emmanuel Farjoun and Moshe Machover: Laws of Chaos, A Probabilistic Approach to Political Economy" (1983)

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Emmanuel Farjoun and Moshe Machover: Laws of Chaos, A Probabilistic Approach to Political Economy" (1983) http://www.probabilisticpoliticaleconomy.net
Emmanuel Farjoun, Professor of Mathematics, Einstein Institute of Mathematics, The Hebrew University of Jerualem
Moshé Machover, Emeritus Professor of Philosophy, King's College London
The publication in 1983 of "Laws of Chaos, A Probabilistic Approach to Political Economy" by Emmanuel Farjoun and Moshe Machover was an event of genuine theoretical innovation in the field of political economy. The book was a response to the impasse reached by the input-output method of representing an economy, in particular when applied to the theory of economic value. Farjoun and Machover's innovations include the systematic introduction of probabilistic modelling, statistical mechanics, and probabilistic laws to the field of political economy. They rejected the adequacy of deterministic models to capture essential features of a dynamic and distributed market economy, which they viewed as a complex system characterised by a huge number of degrees of freedom. Employing probabilistic arguments, Farjoun and Machover developed a broad model of the capitalist economy that, in contrast to deterministic approaches, had a more immediate connection to empirical reality and yielded important and theoretically distinct, macroeconomic conclusions, including probabilistic laws governing the relationship between price and labour-content, the distribution of the profit rate, and the tendency of labour productivity to increase.
Emmanuel Farjoun and Moshe Machover: Laws of Chaos, A Probabilistic Approach to Political Economy" (1983) http://www.probabilisticpoliticaleconomy.net
Emmanuel Farjoun, Professor of Mathematics, Einstein Institute of Mathematics, The Hebrew University of Jerualem
Moshé Machover, Emeritus Professor of Philosophy, King's College London
The publication in 1983 of "Laws of Chaos, A Probabilistic Approach to Political Economy" by Emmanuel Farjoun and Moshe Machover was an event of genuine theoretical innovation in the field of political economy. The book was a response to the impasse reached by the input-output method of representing an economy, in particular when applied to the theory of economic value. Farjoun and Machover's innovations include the systematic introduction of probabilistic modelling, statistical mechanics, and probabilistic laws to the field of political economy. They rejected the adequacy of deterministic models to capture essential features of a dynamic and distributed market economy, which they viewed as a complex system characterised by a huge number of degrees of freedom. Employing probabilistic arguments, Farjoun and Machover developed a broad model of the capitalist economy that, in contrast to deterministic approaches, had a more immediate connection to empirical reality and yielded important and theoretically distinct, macroeconomic conclusions, including probabilistic laws governing the relationship between price and labour-content, the distribution of the profit rate, and the tendency of labour productivity to increase.

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Published by: FILOSOFÍA EN COSTA RICA on May 04, 2011
Copyright:Attribution Non-commercial

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10/28/2011

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OF
A
PROBABILISTIC
APPROAa
10
POIdTIcAL
EcoNoMy
EMMANUEL
Fm
AND
 
Emmanuel Farjoun,
born in 1944, is
a
professor
of
mathematics atthe Hebrew University of Jerusalem.
Moshe
Machover
was born in 1936. He has taught mathematics inthe Universities of Jerusalem and Bristol. He is now
a
Reader inMathematical Logic in the Department of History and Philosophy
of
Science at Chelsea College, London University.Both authors were born in Palestine, are activists
of
the SocialistOrganization in Israel
(MATZPEN)
and are editors of
Kharnsin,
thesocialist journal of Middle Eastern studies.
V
 
Emmanuel FarjounMoshC Machover
Verso

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