The ‘Standard commodity’ and Ricardo’s Search for an ‘Invariable Measure of Value’

Heinz Kurz and Neri Salvadori

Chapter 3 in The Dynamics of the Wealth of Nations, 1993, pp 95-123 from Palgrave Macmillan

Abstract: Abstract Even three decades after the publication of Piero Sraffa’s Production of Commodities by Means of Commodities (1960) and in spite of extended discussions on the matter there does not yet exist a commonly accepted view as to the meaning of the ‘Standard commodity’ and the rôle it plays in Sraffa’s analysis. Moreover, it seems to be still unclear what is the relationship between this concept and Ricardo’s search for an ‘invariable measure of value’.1

Keywords: Wage Rate; Standard System; Relative Prex; Profit Rate; Real Wage Rate (search for similar items in EconPapers)
Date: 1993
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-22728-0_4

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DOI: 10.1007/978-1-349-22728-0_4

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