Abstract
We now turn to a consideration of economic matters. In a previous section, we touched on the pioneering contributions of classical political scientists like William Harvey, William Petty, and François Quesnay, all of whom were medical doctors. These individuals conceptualized the economic system in a way that was similar to blood circulation as a kind of node-based network constituted by the circular processing of materials, resources, and services. Quesnay’s economic table was the first monumental achievement in this context. Over the course of the 20th century, the forms of this table have changed, as evidenced in Leontief’s input-output table and von Neumann-Sraffa’s production system. The input-output table has been selected here for empirical reasons.
This is a preview of subscription content, log in via an institution to check access.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Notes
- 1.
- 2.
As for a quick but perfect description of random matrices, see https://mathworld.wolfram.com/RandomMatrix.html.
- 3.
The next formula is driven from the next relationships:
$$\begin{aligned} q=1; \lambda _{\text{ min }} =N\left[ -2 \sqrt{\frac{1}{q}}+\frac{1}{q}+1\right] ; \lambda _{\text{ max }} =N\left[ 2 \sqrt{\frac{1}{q}}+\frac{1}{q}+1\right] \end{aligned}$$(6.19).
References
Aruka, Y. (1991). Generalized Goodwin theorems on general coordinates. Structural Change and Economic Dynamics, 2(1), 66–91.
Brody, A. (1970). Proportions, prices and planning. A mathematical restatement of the labor theory of value. Akademiai Kiado North-Holland.
Hawkins, D., & Simon, H. (1949). Some conditions of macroeconomic stability. Econometrica, 17(3/4), 245–248.
Hildenbrand, W. (1981). Short-run production functions based on microdata. Econometrica, 49(5), 1095–1125.
Iyetomi, H., Nakayama, Y., Aoyama, H., & Fujiwara, Y. (2011). Fluctuation-dissipation theory of input-output interindustrial correlations. Physical Review E, 83(12), 016103.
Iyetomi, H., Nakayama, Y., Yoshikawa, H., Aoyama, H., Fujiwara, Y., Ikeda, Y., & Souma, W. (2011). What causes business cycles? Analysis of the Japanese industrial production data. Journal of Japanese and International Economy, 25(3), 246–72.
Mariolis, T., & Tsoulfidis, L. (2016). Capital theory ‘paradoxes’ and paradoxical results: Resolved or continued? Evolutionary and Institutional Economics Review, 13(2), 297–322.
Sraffa, P. (1960). Production of commodities by means of commodities: Prelude to a critique of economic theory. Cambridge UK: Cambridge UP.
Statistics Bureau. (2016). 2011 input-output tables for Japan.
Tiziano, S., & Garlaschelli, D. (2016). The weighted random graph model.
Author information
Authors and Affiliations
Corresponding author
Rights and permissions
Copyright information
© 2024 The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Singapore Pte Ltd.
About this chapter
Cite this chapter
Aruka, Y. (2024). A Measure of Systemic Risk Derived from the Input-Output Table. In: Evolutionary Economics. Springer Texts in Business and Economics. Springer, Singapore. https://doi.org/10.1007/978-981-97-1382-0_6
Download citation
DOI: https://doi.org/10.1007/978-981-97-1382-0_6
Published:
Publisher Name: Springer, Singapore
Print ISBN: 978-981-97-1381-3
Online ISBN: 978-981-97-1382-0
eBook Packages: Economics and FinanceEconomics and Finance (R0)