Georg von Charasoff and anticipation of von Mises Iteration in economic analysis

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Abstract

In his main work Das System des Marxismus. Darstellung und Kritik, 1910, Georg von Charasoff criticized and reconstructed Marx's price theory and, in doing this, anticipated, at an advanced analytical level, most of the results that were going to be achieved later in the course of the 'transformation controversy'. However, his contribution can be considered to go beyond the particular range of Marxian theory. The aim of this paper is to show how Charasoff's linear economic analysis, in particular his theory of "Urkapital (original capital)", price of production and labour value, anticipated the development of matrix theory by Richard von Mises and Hilda Pollaczek-Geiringer (1929). They devised and proved namely practical procedures to calculate eigenvalues and eigenvectors (the so-called "Power Method" or "von Mises Iteration") and proposed, furthermore, an iterative procedure to solve inhomogeneous linear equation systems.

Original languageEnglish
Pages (from-to)65-89
Number of pages25
JournalCahiers d'Economie Politique
Volume71
Issue number2
DOIs
Publication statusPublished - 2016 Dec 21

Keywords

  • Georg von Charasoff
  • Power method
  • Richard von Mises
  • Transformation problem

ASJC Scopus subject areas

  • History
  • Economics and Econometrics

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