I have been working on producing a table of capital stocks for the UK by industry and type of asset. The aim is to have the data required to set out hypothetical national economic plans for the UK. These would enable exploring things like how to restructure the economy to shift to low CO 2 emissions or how to eliminate the trade deficit. But having done the initial preparation of a capital matrix it becomes possible to use it for other purposes. One is to test price of production theory.
A substantial body of literature now exists on empirical tests of Marxian price theories. Researchers have performed comparisons between theoretical price structures derived from Marx’s Capital and observed market prices[10, 9, 11, 2, 12, 4, 5, 15, 6, 16]…. Many of these studies only use flows of…
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