Competition, Value and Distribution in Classical Economics
Studies in Long-Period Analysis
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Drawing in particular on the work of Sraffa, Smith, Ricardo and Marx, the essays in this volume explore the characteristic features of the Classical economistsâ approach to economic problems, and the renewal of interest in that approach in modern times.
In recent years, new material has been made available on both Sraffa and Marx which have made new insights and interpretations possible. The release of Sraffaâs hitherto unpublished papers and correspondence has led to reconsideration of doctrinal questions such as to what extent Sraffa built upon, or deviated from the analyses of Adam Smith, David Ricardo and other representatives of the classical British school and Karl Marx. A major theme is also to what extent we can today, equipped with Sraffa's insights and analytical tools, re-interpret and develop ideas of classical authors, which they could present only in primitive forms, on technological progress, exhaustible resources and other contemporary issues. On Marx, the publication of the MEGA2 edition of the works, papers and correspondence of Marx and Engels also gives rise to a reconsideration of this relationship, given Marx's disenchantment with some of his own work and return to ideas advocated by Ricardo, especially as regards the long-term tendency of the rate of profits. Finally, the classical notion of competition and monopoly deserve to be scrutinized carefully again and frequent misinterpretations in the literature refuted.
This volume is vital reading for scholars of classical economics, Marx and Sraffa, and the history of economic thought more broadly. It also deals with issues in the areas of machinery and technical progress, joint production, and economic development and growth.
Table of Contents
1. An Introduction
Heinz D. Kurz and Neri Salvadori
I. Classical Economics, old and new
2. Heinz D. Kurz, 2015. "David Ricardo: on the art of "elucidating economic principles" in the face of a "labyrinth of difficulties"", The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 22(5), pp. 818-851.
3. Giuseppe Freni and Neri Salvadori, 2019. "Ricardo on machinery: an analysis of Ricardo's examples", The European Journal of the History of Economic Thought, 26(3), pp, 537--553.
4. Neri Salvadori and Rodolfo Signorino, "Mark Blaug revisited: A rebel with many causes." [[A revised version of the review published in the Journal of the History of Economic Thought, vol. 37(04), pp. 615-623, 2015.]]
II. On Sraffa's contribution
5. Giuseppe Freni and Neri Salvadori, 2013. âThe construction of the long-run market supply curves: Some notes on Sraffaâs critique of partial equilibrium analysisâ, in Enrico Sergio Levrero, Antonella Palumbo, Antonella Stirati (eds), Sraffa and the Reconstruction of Economic Theory: Volume Three. Sraffaâs Legacy: Interpretations and Historical Perspectives, Basingstoke (U.K.) and New York (USA): Palgrave Macmillan, 2013, pp. 189-216.
6. Heinz D. Kurz and Neri Salvadori, 2015. âClassical Economics after Sraffaâ, Cahiers dâĂ©conomie politique / Papers in Political Economy, vol. 69, pp. 45-72.
7. Heinz D. Kurz and Neri Salvadori, 2018. âOn the âphotographâ interpretation of Piero Sraffaâs production equations: A view from the Sraffa archiveâ, in Marcella Corsi,â Jan Kregel, Carlo D'Ippoliti (eds), Classical Economics Today: Essays in Honor of Alessandro Roncaglia, London: Anthem Press, pp. 113-128.
III. Production of Commodities by Means of Commodities in its making
8. Christian Gehrke and Heinz D. Kurz, 2018. "Sraffaâs Constructive and Interpretive Work, and Marx", Review of Political Economy, Taylor & Francis Journals, vol. 30(3), pp. 428-442, July.
9. Heinz D. Kurz, 2012. "Don't treat too ill my Piero! Interpreting Sraffa's papers", Cambridge Journal of Economics, Oxford University Press, vol. 36(6), pp. 1535-1569.
10. Neri Salvadori, 2011. âBesicovitch, Sraffa, and the existence of the Standard commodityâ, in Neri Salvadori and Christian Gehrke (eds), Keynes, Sraffa and the Criticism of Neoclassical Theory. Essays in honour of Heinz Kurz, London and New York: Routledge, 2011, pp 113-131.
11. Heinz D. Kurz and Neri Salvadori, 2014. âPiero Sraffaâs early work on joint production: probing into the intricacies of multiple-product systemsâ, in Fabrice Tricou and Daniella Leeman (eds), Ăconomie mathĂ©matique et Histoire: Hommage Ă Christian Bidard, Paris: Presses universitaires de Paris Ouest, 2014, pp. 55-73.
IV. Competition and monopoly
12. Neri Salvadori and Rodolfo Signorino, 2013. âThe Classical notion of competition revisitedâ, History of Political Economy, vol. 45(1), pp. 149-175.
13. Neri Salvadori and Rodolfo Signorino, 2014. âAdam Smith on monopoly theory. Making good a lacunaâ, Scottish Journal of Political Economy, vol. 61(2), pp. 178-195.
14. Heinz D. Kurz, 2016. "Adam Smith on markets, competition and violations of natural liberty", Cambridge Journal of Economics, Oxford University Press, vol. 40(2), pp. 615-638.
Heinz D. Kurz is Emeritus Professor of Economics at the University of Graz, Austria, and Fellow of the Graz Schumpeter Centre.
Neri Salvadori is Professor of Economics at the University of Pisa, Italy.
"The great prominence â for both width and depth â of Heinz Kurz and Neri Salvadoriâs contributions is unanimously recognized by all scholars interested in Piero Sraffaâs works (published and unpublished) and in the revival of the classical approach to value and distribution. This volume not only adds to the collections of essays by these authors already published, but, by broadening the field of analysis or providing new insights on issues they already dealt with, it completes them. One could say that, because of a sort of positive externality, the new collection of essays by Kurz and Salvadori also increases the importance of the previous ones."
Saverio M. Fratini, Professor of Economics, Roma Tre University, Italy