Social Surplus Approach and Heterodox Economics
AbstractGiven the emphasis on social provisioning in heterodox economics, two of its central theoretical organizing principles are the concepts of the total social product and the social surplus. This appears to link heterodox economics to the social surplus approach associated with the classical economists and currently with Sraffian economists. However, heterodox economics connects agency with the social surplus and the social product, which the Sraffians reject as they take the level and composition of the social product as given. Therefore the different theoretical approach regarding the social surplus taken in heterodox economics may generate a different but similar way of theorizing about a capitalist economy. To explore this difference is the aim of the article.
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Bibliographic InfoArticle provided by M.E. Sharpe, Inc. in its journal Journal of Economic Issues.
Volume (Year): 45 (2011)
Issue (Month): 4 (December)
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Web page: http://www.mesharpe.com/mall/results1.asp?acr=jei
agency; heterodox economics; social provisioning; social surplus; Sraffian economics;
Other versions of this item:
- B51 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Socialist; Marxian; Sraffian
- B50 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - General
- B5 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches
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