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Enrico Levrero ()

A chapter in Sraffa and the Reconstruction of Economic Theory: Volume One, 2013, pp 1-11 from Palgrave Macmillan

Abstract: Abstract It is widely recognised that Sraffa’s Production of Commodities by Means of Commodities (PCMC) is not simply a variant of a class of linear models, nor an incomplete general equilibrium model with stationary prices. Together with Sraffa’s 1951 ‘Introduction’ to Ricardo’s Works, Sraffa (1960) revived the old classical economists’ approach to value and distribution, proving that a correct price theory can spring from within that approach, and illustrating properties of the price system and of the choice of techniques which have resulted in a sharp contrast with the foundations of neoclassical (or marginalist) theory.

Keywords: Capital Good; Gini Index; Monetary Authority; Classical Economist; Wage Bargaining (search for similar items in EconPapers)
Date: 2013
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DOI: 10.1057/9781137316837_1

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Handle: RePEc:pal:palchp:978-1-137-31683-7_1