On a current characterization of the classical theory of value

Fabio Ravagnani

No 39, Working Papers in Public Economics from Department of Economics and Law, Sapienza University of Roma

Abstract: The paper discusses the widespread opinion according to which the classical determination of relative prices would be closely connected to the study of the conditions allowing for the ""reproduction"" of the economy. It is argued that this view obscures the generality of Sraffa's contribution, and furthermore that it does not provide a solid criterion for distinguishing the classical from the marginalist approach to the theory of value.

Keywords: Classical theory; Normal prices; Reproduction. (search for similar items in EconPapers)
JEL-codes: B20 E11 (search for similar items in EconPapers)
Pages: 19
Date: 1999-11
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Citations: View citations in EconPapers (1)

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