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 3: Technical Change, Variable Returns and Normal Prices in the Classical Framework 1. Produced Quantities and Returns in Sraffa's Theory of Normal Prices: Textual Evidence and Analytical Issues F. Ravagnani 2. On the Inconsistence between the Long-Period Method and the Assumption of Given Quantities F. D'Orlando and S. Nisticò 3. On Some Aspects of the Debate on the Gravitation of Market Prices to Long-Period Prices F. Petri 4. Gravitation of Market Prices towards Natural Prices E. Bellino 5. Capacity Utilization, Mobility of Capital and the Classical Process of Gravitation R. Ciccone Part 4: Output and Distribution in the Long Run: A Classical-Keynesian Perspective 1. Price or Quantities? The Common Link in the Methods of Sraffa, Keynes and Kalecki A. Bhaduri 2. Notes on Sraffa and Keynes H. Bortis 3. The Capacity to Generate Investment: An Analysis of the Long-Term Determinants of Investment G. Bonfati 4. Steady State and the Analysis of Long-Run Tendencies: the Case of Neo-Kaleckian Models A. Trezzini 5. The Principle of Effective Demand according to Pasinetti B. Jossa 6. Monetary Influences on Distribution: A Comparison between Two Post-Keynesian Theories C. Panico 7. The Quantity Equation and the Classical Theory of Production and Distribution E.J. Nell Part 5: Applied and Policy Themes in the Reappraisal of Classical Economics 1. A Note about Effective Demand and Globalisation P. Leon 2. The Relevance of the Classical Approach for Economic and Social Policy Issues S. Cesaratto 3. The Neo-Ricardian Theory of Economic Integration G. Montani 4. On the Theory of the Balance-of-Payments-Constrained Growth A. Palumbo 5. On Facts and Theory: Some Reflections Prompted by the EMU Experience M. Pivetti 6. Disinflation in Industrialized Countries, Foreign Debt Cycles and the Costs of Stability A. Ginzburg and A. Simonazzi 7. Capital Accumulation and Income Distribution in the US Economic Expansion of the 1990s V. Maffeo Part 6: Historical Issues in Sraffa's Writings 1. The Standard Commodity and Monetary Theory in the First Half of the Twentieth Century G. Fodor 2. Three Notes on Piero Sraffa's Early Economic Writings: 1920-1926 N. Naldi 3. New Perspectives from Sraffa's Papers: A Preliminay Survey R. Bellofiore and J.P. Potier