Notes

1 In the original: “una delle ipotesi su cui la teoria e costruita [...] e incompatible colla determin- azione di un sistema di prezzi di equilibrio” (Garegnani, 1960, 119).

2 For references and for an analysis of Walras’s shifting views on capital formation, see Petri (2016).

3 For details, see Petri (2004).

4 If B^-1 ≥ 0, B maps the cone ∕R"₊ onto itself, the mapping is invertible, cone is mapped onto cone, and the edges of the cone are mapped onto the edges of the image cone. Hence we have for all unit vectors e_i, e_iB ¹ = _lUe_j, U_j being some positive coefficient. Band B ¹ must then be permutation matrices, except in that the positive coefficients are not necessarily equal to one. This means that each process produces an input for exactly one other process. Since the system is basic, we can renumber the processes in such a way that the first process produces an input for the second, the second for the third and so on, and the last process produces the input for the first. Hence B and B ¹ are circular matrices, as in Schefold (2010).