Suchergebnisse

Building on Krishna Bharadwaj's analysis of the differences between neoclassical economics and classical political economy and her careful historical reconstruction of the process that culminated in the birth of the former, this article focuses on the characterisation of neoclassical theories as 'scarcity' theories of value. The article intends, in the first place, to analyse the relation that neoclassical theories bear to earlier theoretical developments, particularly the earlier conception of value based on the demand-and-supply interaction, in which the notion of scarcity played a crucial role, a conception entertained both by pre-classical authors and contemporaries of Ricardo. In the second place, it aims to show that the scarcity conception of value is at the root of some basic inconsistencies of the neoclassical approach. Attention will thus be devoted to a particular expression of the latter, the so-called Walras–Cassel system of general equilibrium, and to the discussions that took place in the 1930s on the properties of such system—afterwards culminating in the Vienna debate over the formal properties of the system—in which the limitations of the scarcity conception of value were clearly addressed. JEL Code: B12, B13, D51

PART I: SRAFFA'S CONTRIBUTION AND CONTEMPORARY STREAMS IN ECONOMIC ANALYSIS 1. Sraffa's System in Relation to Some Main Currents in Unorthodox Economics-- Tony Aspromourgos 2. Sraffians, Other Post-Keynesians, and the Controversy Over Centres of Gravitation-- Marc Lavoie 3. Piero Sraffa and Shackle's Years of High Theory - Sraffa's Significance in the History of Economic Theories-- Heinrich Bortis 4. Sraffa's and Wittgenstein's Reciprocal Influences: Forms of life' and Snapshots-- Richard Arena 5. Sraffa, Sen and Non-causal Representations in Social Analysis-- Andrea Ginzburg 6. Disequilibrium and Reproduction Prices: Some Extensions of Sraffa's Model-- Carlo Benetti, Christian Bidard and Edith Klimovsky PART II: THE EVOLUTION OF SRAFFA'S IDEAS AND THE MANUSCRIPTS 7. Piero Sraffa and the Future of Economics - A Personal Evaluation-- Luigi Pasinetti 8. Sraffa's Lectures on Continental Banking-- Marcello de Cecco 9. The Construction of Long-Run Market Supply Curves: Some Notes on Sraffa's Critique of Partial Equilibrium-- Giuseppe Freni and Neri Salvadori 10. A Pictorial Approach to the Standard Commodity with a Digression-- Giorgio Gilibert 11. On Sraffa's Corrected Organic Composition of Capital-- Scott Carter PART III: SRAFFA'S LEGACY AND THE INTERPRETATION OF RICARDO 12. Rent, as a Share of Produce, Not Governed by Proportions-- Christian Gehrke 13. Ricardo's Writings in Russia: Influence and Interpretations-- Gennady Borgomazov and Denis Melnik

This second volume of the book Sraffa and the Reconstruction of Economic Theory focuses on the theory of output and growth as developed in the modern revival of classical approach. Written on the occasion of the 50th anniversary of the publication of Piero Sraffa's Production of Commodities by Means of Commodities, the papers selected and contained in this book accounts for the work completed around the two central aspects of his contribution to economic analysis, namely the criticism of the neoclassical (or 'marginalist') theory of value and distribution, and the reconstruction of economic theory along the lines of the Classical approach. Divided into three volumes, the book debates the most fruitful routes for advancements in this field and their implications for applied and policy analysis. This second volume focuses on the theory of output and growth as developed in the modern Classical approach on the basis of the extension to the long run of the Keynesian principle of effective demand, and on the implications of the revival of the Classical approach for policy analysis and for understanding the evolution of the international economic order in the last few decades

Written on the occasion of the 50th anniversary of the publication of Piero Sraffa's Production of Commodities by Means of Commodities, the papers selected and contained in Sraffa and the Reconstruction of Economic Theory account for the work completed around the two central aspects of his contribution to economic analysis, namely the criticism of the neoclassical (or marginalist) theory of value and distribution, and the reconstruction of economic theory along the lines of the classical approach. Divided into three volumes, Sraffa and the Reconstruction of Economic Theory debates the most fruitful routes for advancements in this field and their implications for applied and policy analysis. This third volume collects papers concerning the evolution of Sraffa's ideas and the interpretation of his contribution in relation to other streams in economics, methodology and the history of economic thought.

Written on the occasion of the 50th anniversary of the publication of Piero Sraffa's Production of Commodities by Means of Commodities, the papers selected and contained in this book accounts for the work completed around the two central aspects of his contribution to economic analysis, namely the criticism of the neoclassical (or 'marginalist') theory of value and distribution, and the reconstruction of economic theory along the lines of the Classical approach. Divided into three volumes, the book debates the most fruitful routes for advancements in this field and their implications for applied and policy analysis. This first volumes focuses on the critique of general equilibrium theory and the determinants of income distribution, together with the related issue of the method of analysis which characterises the Classical theory and the marginalist approach.