By Heinz D. Kurz
This assortment bargains a severe review of the printed works of Piero Sraffa, one of many major economists of the 20th century, and their legacy for the economics career. the themes coated discover Sraffa's interpretation of the classical economists; his thought of worth and distribution; his critique of partial and basic neoclassical equilibrium conception; his specialise in the matter of capital; and his critique of Hayek's financial overinvestment idea of the enterprise cycle. particular concerns investigated comprise intertemporal basic equilibrium idea and the capital challenge; the chance of reswitching; Ricardo, Malthus, and the corn version; and the which means and implication of the capital controversy. one of the individuals are some of the world's best scholars of Sraffian economics.
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Extra resources for Critical Essays on Piero Sraffa's Legacy in Economics
178-97. 139 on Sat May 24 21:47:21 BST 2014. 002 Cambridge Books Online © Cambridge University Press, 2014 24 H. D. Kurz and N. Salvadori Sraffa, P. (1925). 'Sulle relazioni fra costo e quantita prodotta', Annali di Economia, 2, pp. 277-328. English translation by John Eatwell and Alessandro Roncaglia in L. L. ), Italian Economic Papers, Vol. 3, Bologna: II Mulino, 1998, and Oxford: Oxford University Press, 1998, pp. 323-63. Sraffa, P. (1926). 'The Laws of Returns under Competitive Conditions', Economic Journal, 36, pp.
Theory of Production. A Long-Period Analysis, Cambridge, Melbourne and New York: Cambridge University Press. Kurz, H. D. and Salvadori, N. (1997). 'On Critics and Protective Belts', in A. Salanti and E. Screpanti (eds), Pluralism in Economics, Aldershot: Edward Elgar, pp. 232-55. Kurz, H. D. and Salvadori, N. (1998a). Understanding 'Classical' Economics. Studies in Long-Period Theory, London: Routledge. Kurz, H. D. and Salvadori, N. (eds) (1998b). , Aldershot: Edward Elgar. Mainwaring, L. (1984).
P. 71). This variation in the time profile traced by the price of the ageing fixed capital good when the rate of profits changes is exclusively due to the necessity of maintaining the uniformity in price of all items of the commodity irrespective of the age of the fixed capital goods by means of which they are respectively produced. Obviously, the area below such a curve, defined for a particular level of r, is a measure of the aggregate value of a capital stock consisting of n pieces of the durable instrument of uniform age distribution.