Sraffian research programmes and unorthodox economics

Tony Aspromourgos

Review of Political Economy, 2004, vol. 16, issue 2, 179-206

Abstract: This paper provides an overview of the main currents in the development of the intellectual project inaugurated by Piero Sraffa's Production of Commodities by Means of Commodities. Five research programmes are detailed (together with some further extensions): the nature and significance of long-period equilibria; the Cambridge Growth Equation and the monetary determination of interest, as alternative theories of distribution; the Sraffa-Keynes synthesis; and the critique of marginalism. The paper also sketches the relations between the Sraffian project and other unorthodox strands in economics. Future prospects for orthodoxy and non-orthodoxy are canvassed. A substantial literature survey is included. Some day economics may become a science. (attributed to J.M. Keynes, 1932: Rymes, 1989, p. 83)

Date: 2004
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DOI: 10.1080/0953825042000183181

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