Category Archives: Piero Sraffa

The Notion of Organic Unity; Macroeconomic Field theory as a Unified, Systematic Whole

.1. Introduction

Lonergan’s treatment of the intelligibility of the plane circle provides to us a clue.  In the basic insight defining the plane circle, – that all radii are equal – all the interrelated concepts tumble out together in an intelligible unity.  The all-together intelligibility points to a template for explanation in the macroeconomic field; it fore-casts a singular unified intelligibility of the dynamic, organic economic process.  In the sweeping comprehensive act of understanding, all the abstract explanatory conjugates explaining the dynamic economic process are “yoked” together by their functional relations to one another.  The interdependencies of the flows which constitutethe whole dynamic system are grasped in a solidary whole.  And the patterns of the formulation are isomorphic with the patterns in the objective, unitary economic process.  The principle of unity and wholeness is a single, comprehensive intelligibility. (Continue reading)