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The Analysis Of Linear Economic Systems "Father Maurice Potron S Pioneering Works"

Father Maurice Potron S Pioneering Works

The Analysis Of Linear Economic Systems "Father Maurice Potron S Pioneering Works". Father Maurice Potron S Pioneering Works

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  • ISBN:9780415473217
  • Editorial: Routledge
  • Fecha de la edición:
  • Encuadernación:cartone
  • Dimensiones: 0 cm x 0 cm
  • Nº Pág.:288
  • Idiomas:Ingles,Inglés

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Maurice Potron (1872-1942) was a French Jesuit mathematician who wrote about fifteen papers in which he presented and analysed an economic model of his own. Potron had no education in economics and almost no contact with the economists of his time. His primary source of inspiration was the Catholic doctrine: he was closely related with Catholic social organisations concerned with the 'social question. Faced with the 'economic evils of his time, he reacted by utilizing his talents as a mathematician. He therefore invented and formalized a general disaggregated model in which production, consumption, employment, prices and wages are the main unknowns. He introduced four basic principles or normative conditions ('sufficient production, the 'right to rest, 'justice in exchange, and the 'right to live) to define both situations of 'acceptable production and consumption and of 'just prices and wages. He studied the conditions for the existence of such solutions, both on the quantity side and the value side, and the way to implement them.

This book makes Potron's work available in the English language for the first time. For modern economists, Potron's work has many features of the utmost interest: the technology is described by a disaggregated input-output model, well before the seminal work of Leontief in the 1930s; his existence results are based on the use of the Frobenius theorem, which is quite astonishing, since the theorem had been published only two years before, and all other applications in economics are post-1945; and Potron had a clear idea of duality properties between quantities and prices and proved two duality theorems. The idea was rediscovered many years later, and is now a standard tool in economic analysis.

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