The composition of the investment under conditions of non uniform changes
Keywords:Adolph Lowe, Dobb, Kalecki, socialist planning, production, labour force
The present paper discusses Professor Adolph Lowe’s analysis of an economy subject to discontinuous changes, in relation to some aspects of the works by Maurice Dobb and Michael Kalecki on socialist planning. The main thrust of the argument is directed towards the implications of looking at production as a process involving specificity of equipment and complementarity between the latter and the labour force actually employed. Both phenomena arise whenever output is governed by what Marx called an organised system of machinery.
JEL: E22, B51, P33