Abstract

At the core of Giorgio Gilibert's ideas is the classical view of the economy as a circular process. He reframes this in very original ways, applying it to markedly different contexts, both in the recent paper re-published here and in his previous papers on classical theories of value and on the neo-Ricardian approach. In the first paper, he criticises Michael Kremer's endogenous theory of growth and, following Quesnay's famous moment of insight, claims that the technological innovation that gave rise to the birth of the first ancient town could have only taken place thanks to three previous social innovations: writing, money, and accounting. Quesnay also guides his previous writings on the transformation of values to prices and the discovery of the solution provided by von Karassov.