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The Analysis of Linear Economic Systems - Father Maurice Potron s Pioneering Works (Paperback)
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The Analysis of Linear Economic Systems - Father Maurice Potron s Pioneering Works (Paperback)
Series: Routledge Studies in the History of Economics
Expected to ship within 12 - 17 working days
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Maurice Potron (1872-1942), a French Jesuit mathematician,
constructed and analyzed a highly original, but virtually unknown
economic model. This book presents translated versions of all his
economic writings, preceded by a long introduction which sketches
his life and environment based on extensive archival research and
family documents. Potron had no education in economics and almost
no contact with the economists of his time. His primary source of
inspiration was the social doctrine of the Church, which had been
updated at the end of the nineteenth century. Faced with the
'economic evils' of his time, he reacted by utilizing his talents
as a mathematician and an engineer to invent and formalize a
general disaggregated model in which production, 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 satisfactory regimes of production and labour on the one
hand, and of prices and wages on the other. He studied the
conditions for the existence of these regimes, both on the quantity
side and the value side, and he explored the way to implement them.
This book makes it clear that Potron was the first author to
develop a full input-output model, to use the Perron-Frobenius
theorem in economics, to state a duality result, and to formulate
the Hawkins-Simon condition. These are all techniques which now
belong to the standard toolkit of economists. This book will be of
interest to Economics postgraduate students and researchers, and
will be essential reading for courses dealing with the history of
mathematical economics in general, and linear production theory in
particular.
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