Economics at your fingertips  

Sraffa, Money and Distribution

Ragupathy Venkatachalam () and Stefano Zambelli ()
Additional contact information
Ragupathy Venkatachalam: University of London; New Cross
Stefano Zambelli: University of Trento; via Inama

Chapter Chapter 15 in A Reflection on Sraffa’s Revolution in Economic Theory, 2021, pp 455-497 from Palgrave Macmillan

Abstract: Abstract Sraffa’s early work on monetary Economics, his contributions to the theory of capital and his critique of neoclassical tenets are often seen as disjoint contributions. In contrast, we suggest that Sraffa’s contributions have to be viewed as a coherent whole and offer a classification of his scholarly contributions. We point to the unifying thread between his early and later work, which concerns the insufficiency of economic mechanisms or market forces to exclusively determine values (prices, profit rates and wage rates). Their simultaneous determination and consequently the overall indeterminacy of the system are important. We outline the motivations for incorporating money (in the form of credit and debt) inside the traditional Sraffian schemes, to expand the original system and harness its potential. We believe that there is both a need and scope for incorporating deferred means of payments, which are essential for the functioning of any evolved economic system.

Keywords: Sraffa; Means of payment; Money; Capital; Panico; PCMC (search for similar items in EconPapers)
Date: 2021
References: Add references at CitEc
Citations: Track citations by RSS feed

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link:

Ordering information: This item can be ordered from

DOI: 10.1007/978-3-030-47206-1_15

Access Statistics for this chapter

More chapters in Palgrave Studies in the History of Economic Thought from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().

Page updated 2022-05-28
Handle: RePEc:pal:pshchp:978-3-030-47206-1_15