Prices, Reproduction, Scarcity

Christian Bidard ()
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Christian Bidard: EconomiX - EconomiX - UPN - Université Paris Nanterre - CNRS - Centre National de la Recherche Scientifique

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Abstract: A contemporary study on the theory of production prices. That construction theory finds its roots in the Classical theory (mainly, Ricardo and Marx) updated by Sraffa (1960). It is a long-run theory based on the hypothesis of a uniform rate of profit across industries. At variance with the labour theory of value, relative prices depend on distribution. After a study of single-product systems (nonsubstitution and wage-maximisation properties), the stress is on the problems set by multiple-product systems, including those of the choice of techniques, fixed capital and rent. The treatment of exhaustible resources, for which the Hotelling rule implies a change in intertemporal relative prices, provides the opportunity of a comparison with the theory of general equilibrium.

Keywords: Post-Sraffian theory; Classical theory; Prices of production; Fixed capital; Rent; Exhaustible resources (search for similar items in EconPapers)
Date: 2004
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Citations: View citations in EconPapers (24)

Published in Cambridge University Press, 2004

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-03094334

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