Analyzing Sraffa, one of the key figures in the history of economics, this book explores his legacy and the relevance of his thought for modern economics. Written by an array of internationally respected contributors, including Schefold, Aspromourgos, Nell and Kurz it is an invaluable tool for all those studying the history of economic thought.
Introduction Part 1: Capital and the Critique of Neoclassical Theories 1. Savings, Investment and Capital in a System of General Intertemporal Equilibrium P. Garegnani Comment B. Schefold Reply P. Garegnani Comment H. Gram Reply P. Garegnani 2. Determinacy of Equilibria in a Model of Intertemporal Equilibrium with Capital Goods D. Tosato Comment F. Petri Reply D. Tosato. The Stability of GeneralIntertemporal Equilibrium: A Comment on Tosato's Reply to Petri S. Parrinello. The Stability of General Intertemporal Equilibrium: A Reply to Parrinello D. Tosato 3. The Results of the Capital Theory Controversies and General Equilibrium Theory: Some Reflections on Concepts and History G. Harcourt 4. The Aggregate Neoclassical Theory of Distribution and the Concept of a Given Value of Capital: The Lines of a More General Critique P. Potestio 5. Stability in Classical and Neoclassical Theories F. Serrano Part 2: After Sraffa's Interpretation of Ricardo: Historical and Analytical Issues in the Classical Approach to Value and Distribution 1. The Smithian Origin of Ricardo's Corn Ratio Theory of Profits F. Vianello Comment P.L. Porta. The Smithian Origin of Ricardo's Corn Ratio Theory of Profits: A Suggested Interpretation F. Vianello 2. Sraffa and the Interpretation of Ricardo: The Marxian Dimension S. Hollander Comment A. Stirati Reply S. Hollander 3. Interpretations of the Classics: The Theory of Wages A. Stirati 4. Some Notes on Wages and Competition in the Labour Market E.S. Levrero 5.Hay, Carrots, Bread and Roses: Subsistence and Surplus Wages in Sraffa's Papers A. Picchio 6. Price of Wages: A Curious Phrase C. Gehrke 7. On Some Materials from the 'Petty Papers' Archive, Relevant to the Beginnings of the Surplus Approach T. Aspromourgos 8. The Standard Commodity: An Inevitable Measure of Value G. Gilibert 9. Regardo's Standard of Value: A New Proposal C. Bidard 10. Rationality in Reproduction Models V. Walsh