Sraffa's System: Equal Rate of Profits and the Notion of Centre of Gravitation

Ajit Sinha () and Michel-Stéphane Dupertuis ()

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Abstract: This paper argues that the condition of uniform rate of profits in Sraffa's system is not based on his implicit assumption that the system is at the 'equilibrium' or the center of gravitation. It is rather a logical requirement of a reproducing system of basic goods as long as prices are not imposed from outside the system. This condition holds irrespective of supplies being equal to their respective effectual demands. It conjectures that Sraffa could have arrived at this conclusion through his analysis of the . On the basis of this result, a critique of the received interpretation, led by Garegnani, of Sraffa's prices is developed.

Keywords: Social; Sciences; &; Humanities (search for similar items in EconPapers)
Date: 2009-03-28
Note: View the original document on HAL open archive server: https://hal.science/hal-00683159
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Citations: View citations in EconPapers (3)

Published in Journal of Economic Behavior and Organization, 2009, 71 (2), pp.495. ⟨10.1016/j.jebo.2009.03.014⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-00683159

DOI: 10.1016/j.jebo.2009.03.014

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