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Input-Output Analysis from a Wider Perspective: a Comparison of the Early Works of Leontief and Sraffa

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  • Heinz Kurz
  • Neri Salvadori

Abstract

This paper compares Leontief's 1928 PhD thesis and Sraffa's work in Cambridge in 1927-1928 as reconstructed from Sraffa's unpublished papers. Both authors showed that relative prices and the interest rate can be determined exclusively in terms of the observable amounts of commodities produced and used up during a year - without any reference to demand and supply. While Sraffa continued to elaborate a comprehensive objectivist, surplus-based alternative to the marginalist theory, Leontief's interest shifted towards applying the new tool of input-output to practical problems. However, his assumption of given value added coefficients in his price equations cannot be sustained.

Suggested Citation

  • Heinz Kurz & Neri Salvadori, 2006. "Input-Output Analysis from a Wider Perspective: a Comparison of the Early Works of Leontief and Sraffa," Economic Systems Research, Taylor & Francis Journals, vol. 18(4), pages 373-390.
    • Handle: RePEc:taf:ecsysr:v:18:y:2006:i:4:p:373-390
    DOI: 10.1080/09535310601020959
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    Citations

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    Cited by:

    1. Steve Keen, 2013. "Predicting the ‘Global Financial Crisis’: Post-Keynesian Macroeconomics," The Economic Record, The Economic Society of Australia, vol. 89(285), pages 228-254, June.
    2. Zambelli, Stefano & Fredholm, Thomas & Venkatachalam, Ragupathy, 2017. "Robust measurement of national technological progress," Structural Change and Economic Dynamics, Elsevier, vol. 42(C), pages 38-55.
    3. Akhabbar, Amanar & Lallement, Jerôme, 2011. "« Appliquer la théorie économique de l’équilibre général » : de Walras à Leontief [Applying general equilibrium theory: from Walras to Leontief]," MPRA Paper 30210, University Library of Munich, Germany.
    4. William J. Baumol & Thijs ten Raa, 2021. "Wassily Leontief: In Appreciation," World Scientific Book Chapters, in: Efficiency and Input-Output Analyses Theory and Applications, chapter 24, pages 375-389, World Scientific Publishing Co. Pte. Ltd..
    5. Biao Huang, 2018. "An exhaustible resources model in a dynamic input–output framework: a possible reconciliation between Ricardo and Hotelling," Journal of Economic Structures, Springer;Pan-Pacific Association of Input-Output Studies (PAPAIOS), vol. 7(1), pages 1-24, December.
    6. Akhabbar, Amanar, 2014. "Circulation du capital et explication du changement économique chez Marschak, Frisch et Leontief [Capital Circulation and the Explanation of Economic Change by Marschak, Frisch and Leontief]," MPRA Paper 93327, University Library of Munich, Germany.
    7. Escudé, Guillermo J., 2021. "La Teoría del Capitalismo de Karl Marx. Exposición, Crítica y Evaluación [Karl Marx's Theory of Capitalism. Exposition, Critique, and Appraisal]," MPRA Paper 105877, University Library of Munich, Germany.
    8. Escudé, Guillermo J., 2021. "Karl Marx´s Theory of Capitalism Exposition, Critique, and Appraisal," MPRA Paper 113685, University Library of Munich, Germany.
    9. Lee, Frederic, 2011. "Heterodox surplus approach: production, prices, and value theory," MPRA Paper 31824, University Library of Munich, Germany.
    10. Akhabbar, Amanar & Lallement, Jérôme, 2010. "Wassily Leontief and Léon Walras: the Production as a Circular Flow," MPRA Paper 30207, University Library of Munich, Germany.

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