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Misunderstanding Classical Economics: The Sraffian Interpretation of the Surplus Approach

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  • Mark Blaug

Abstract

In the last decade or so, disciples of Piero Sraffa have propagated a particular interpretation of classical economics, according to which the classical economists focussed on the 'core' of their analysis on the determination of relative prices in long-run equilibrium, taking as given the volume of output, its commodity composition, the technology of every industry, and real wages; everything else in classical economics is said to belong to the periphery and follows from the analysis at the core.
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Suggested Citation

  • Mark Blaug, 1999. "Misunderstanding Classical Economics: The Sraffian Interpretation of the Surplus Approach," History of Political Economy, Duke University Press, vol. 31(2), pages 213-236, Summer.
    • Handle: RePEc:hop:hopeec:v:31:y:1999:i:2:p:213-236
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    Cited by:

    1. Heinz D. Kurz & Neri Salvadori, 2011. "In Favor of Rigor and Relevance: A Reply to Mark Blaug," History of Political Economy, Duke University Press, vol. 43(3), pages 607-616, Fall.
    2. Roger E. Backhouse, 2013. "Understanding Mark Blaug's attitude towards Sraffian economics," Chapters, in: Marcel Boumans & Matthias Klaes (ed.), Mark Blaug: Rebel with Many Causes, chapter 11, pages 146-158, Edward Elgar Publishing.
    3. Luca Timponelli, 2021. "From Pareto to Bridgman: The Operational Turn of Samuelson, Sraffa and Leontief," Annals of the Fondazione Luigi Einaudi. An Interdisciplinary Journal of Economics, History and Political Science, Fondazione Luigi Einaudi, Torino (Italy), vol. 55(1), pages 303-328, June.
    4. Neri Salvadori & Rodolfo Signorino, 2013. "The Classical Notion of Competition Revisited," History of Political Economy, Duke University Press, vol. 45(1), pages 149-175, Spring.
    5. Howard Petith, 2001. "A Descriptive and Analytic Look at Marxs Own Explanations for the Falling Rate of Profit (Long Version," UFAE and IAE Working Papers 485.01, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
    6. Duccio Cavalieri, 2009. "Sull'inseparabilit? delle strutture sintattiche nell'analisi classica del valore e della distribuzione," STUDI ECONOMICI, FrancoAngeli Editore, vol. 0(97), pages 5-46.
    7. Mark Blaug, 2001. "No History of Ideas, Please, We're Economists," Journal of Economic Perspectives, American Economic Association, vol. 15(1), pages 145-164, Winter.
    8. Fabio Petri, 2006. "General Equilibrium Theory and Professor Blaug," Department of Economics University of Siena 486, Department of Economics, University of Siena.
    9. Yann Giraud & Pedro Garcia Duarte, 2014. "Chasing the B: A Bibliographic Account of Economics’ Relation to its Past, 1991-2011," THEMA Working Papers 2014-09, THEMA (THéorie Economique, Modélisation et Applications), Université de Cergy-Pontoise.
    10. Howard Petith, 2001. "A Descriptive and Analytic Look at Marxs Own Explanations for the Falling Rate of Profit," UFAE and IAE Working Papers 486.01, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).

    More about this item

    Keywords

    Piero Sraffa; surplus approach;

    JEL classification:

    • B10 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - General
    • B12 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Classical (includes Adam Smith)
    • B20 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - General

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