Sraffa and the “laws of returns”: an analysis of the 1925-1926 articles

José Maria Dias Pereira ()

Brazilian Journal of Political Economy, 2021, vol. 41, issue 4, 815-834

Abstract: This article analyzes two texts by Sraffa published in 1925 and 1926 withcriticisms of the dominant marginalist approach, which presupposes free competition anddiminishing returns. Sraffa concluded that such a model only applies in the case of constantreturns. These two articles served as a basis for Sraffa, almost 30 years later, to formulatea devastating critic of the marginalist or subjective theory of value by proposing a modelof prices and income distribution that does not depend on the hypothesis of changes in thescale of production or in the proportion of factors. JEL Classification: D21; D24; D41.

Keywords: Sraffa; custos; preços; concorrência imperfeita (search for similar items in EconPapers)
Date: 2021
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