Switches and fake switches in methods of production

Christian Bidard and Edith Klimovsky

Cambridge Journal of Economics, 2004, vol. 28, issue 1, 89-97

Abstract: It has long been recognised that Sraffa's analysis of the choice of methods in joint production cannot be sustained, so that post-Sraffian economists have abandoned it. The paper returns to Sraffa's own approach and identifies two characteristic elements: methodologically, it is of a 'dynamic' nature (it considers a potential move of the rate of profits) and, analytically, the switch-points are the common intersection of several wage--profit curves. An internal critique consists in showing the existence of fake switches, which are at the intersection of two wage--profit curves but, unexpectedly, are not switch-points. Copyright 2004, Oxford University Press.

Date: 2004
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