Misunderstanding Classical Economics - The Sraffian Interpretation of the Surplus Approach

Mark Blaug

Discussion Papers from University of Exeter, Department of Economics

Abstract: In the last decade or so, disciples of Piero Sraffa have propagated a particular interpretation of classical economics, according to which the classical economists focussed on the 'core' of their analysis on the determination of relative prices in long-run equilibrium, taking as given the volume of output, its commodity composition, the technology of every industry, and real wages; everything else in classical economics is said to belong to the periphery and follows from the analysis at the core.

Keywords: ECONOMIC EQUILIBRIUM; MACROECONOMICS (search for similar items in EconPapers)
JEL-codes: B10 B12 B20 (search for similar items in EconPapers)
Pages: 35 pages
Date: 1998
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Journal Article: Misunderstanding Classical Economics: The Sraffian Interpretation of the Surplus Approach (1999)
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