A Sraffian interpretation of classical monetary controversies

German Feldman

The European Journal of the History of Economic Thought, 2015, vol. 22, issue 4, 634-661

Abstract: The aim of this paper is to explore the contrasting views of inflation, exchange rate misalignments and determinants of gold flows held by different branches of the classical school during the first half of the nineteenth century. The properties of money neutrality and money endogeneity within the classical system are studied by reinterpreting these controversies through the analytical framework of the surplus approach as reconstructed by Sraffa [ Production of Commodities by Means of Commodities . Cambridge: Cambridge University Press, 1960] and his followers.

Date: 2015
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DOI: 10.1080/09672567.2013.792370

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