IDEAS home Printed from https://ideas.repec.org/a/taf/eujhet/v8y2001i2p230-250.html
   My bibliography  Save this article

An appraisal of Piero Sraffa's 'The Laws of Returns under Competitive Conditions'

Author

Listed:
  • Rodolfo Signorino

Abstract

The paper proposes a new interpretation of Sraffa's 1926 Economic Journal article, 'The Laws of Returns under Competitive Conditions', according to which the latter derives from the same strategy of research which underlies its 1925 Italian precursor, 'Sulle relazioni fra costo e quantita prodotta'. Sraffa tested the explanatory power of a Marshallian monopolistic partial equilibrium model and concluded that that model is able to treat one source of variable returns (firm-internal economies); but this articulation of Marshall's theory does not substantially improve on the trade-off between logical consistency and empirical relevance which afflicted the theory in its whole.

Suggested Citation

  • Rodolfo Signorino, 2001. "An appraisal of Piero Sraffa's 'The Laws of Returns under Competitive Conditions'," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 8(2), pages 230-250.
    • Handle: RePEc:taf:eujhet:v:8:y:2001:i:2:p:230-250
    DOI: 10.1080/09672560110039308
    as

    Download full text from publisher

    File URL: http://www.tandfonline.com/doi/abs/10.1080/09672560110039308
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1080/09672560110039308?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Heinz D. Kurz & Neri Salvadori (ed.), 1998. "The Elgar Companion to Classical Economics," Books, Edward Elgar Publishing, volume 0, number 851.
    2. Mongiovi, Gary, 1996. "Sraffa's Critique of Marshall: A Reassessment," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 20(2), pages 207-224, March.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Antonella Stirati, 2013. "Sraffa's 1930 manuscripts on the representative firm and Marshall's theory of value and business profit," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 20(3), pages 439-465, June.
    2. Rodolfo Signorino, 2005. "Piero Sraffa's lectures on the advanced theory of value 1928-31 and the rediscovery of the classical approach," Review of Political Economy, Taylor & Francis Journals, vol. 17(3), pages 359-380.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    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. Pierangelo Garegnani, 2007. "Samuelson's misses: A rejoinder," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 14(3), pages 573-585.
    3. Boundi-Chraki, Fahd & Perrotini-Hernández, Ignacio, 2021. "Absolute cost advantage and sectoral competitiveness: Empirical evidence from NAFTA and the European Union," Structural Change and Economic Dynamics, Elsevier, vol. 59(C), pages 162-173.
    4. Antonella Stirati, 2013. "Sraffa's 1930 manuscripts on the representative firm and Marshall's theory of value and business profit," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 20(3), pages 439-465, June.
    5. Giovanni Scarano, 2013. "Capital accumulation and technical conditions along sustainable growth paths," Departmental Working Papers of Economics - University 'Roma Tre' 0182, Department of Economics - University Roma Tre.
    6. Jérôme Lallement & Amanar Akhabbar, 2011. "Appliquer la théorie économique de l'équilibre général : de Walras à Leontief," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00609684, HAL.
    7. Signorino, Rodolfo, 2011. "David Ricardo on natural and market prices," MPRA Paper 39212, University Library of Munich, Germany.
    8. Maxime Desmarais-Tremblay, 2014. "On the Definition of Public Goods. Assessing Richard A. Musgrave's contribution," Documents de travail du Centre d'Economie de la Sorbonne 14004, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne.
    9. Charis Vlados & Dimos Chatzinikolaou, 2019. "Towards a Restructuration of the Conventional SWOT Analysis," Business and Management Studies, Redfame publishing, vol. 5(2), pages 76-84, June.
    10. Christian Gehrke, 2000. "Tozer on machinery," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 7(4), pages 485-506.
    11. Witt, Ulrich, 2005. "'Production' in nature and production in the economy--second thoughts about some basic economic concepts," Structural Change and Economic Dynamics, Elsevier, vol. 16(2), pages 165-179, June.
    12. Ciccone, Michele, 2022. "Some notes on Ricardo's analysis of the convergence process of the market rate of interest to the natural rate," MPRA Paper 112887, University Library of Munich, Germany.
    13. Giovanni Scarano, 2013. "Quantity theory, say's law and effective demand in money theories," Departmental Working Papers of Economics - University 'Roma Tre' 0181, Department of Economics - University Roma Tre.
    14. Tommaso Ciarli & Andre' Lorentz & Maria Savona & Marco Valente, 2012. "The role of technology, organisation, and demand in growth and income distribution," LEM Papers Series 2012/06, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
    15. Kenji Mori, 2010. "Charasoff and Dmitriev: An Analytical Characterisation of Origins of Linear Economics," TERG Discussion Papers 249, Graduate School of Economics and Management, Tohoku University.
    16. Neri Salvadori & Rodolfo Signorino, 2014. "Adam Smith on Monopoly Theory. Making good a lacuna," Scottish Journal of Political Economy, Scottish Economic Society, vol. 61(2), pages 178-195, May.
    17. Ginzburg, Andrea & Simonazzi, Annamaria, 2005. "Patterns of industrialization and the flying geese model: the case of electronics in East Asia," Journal of Asian Economics, Elsevier, vol. 15(6), pages 1051-1078, January.
    18. Alejandro Rodríguez Arana, 2015. "The share of wages in national income and its effects in the short and long run economic activity and growth," Working Papers 0215, Universidad Iberoamericana, Department of Economics.
    19. Matías Vernengo & David Fields, 2016. "DisORIENT," Review of Radical Political Economics, Union for Radical Political Economics, vol. 48(4), pages 562-568, December.
    20. Antonella Palumbo, 2008. "I metodi di stima del PIL potenziale tra fondamenti di Teoria economica e Contenuto empirico," Departmental Working Papers of Economics - University 'Roma Tre' 0092, Department of Economics - University Roma Tre.

    More about this item

    Keywords

    Marshall Perfect Competition Monopoly;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:eujhet:v:8:y:2001:i:2:p:230-250. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/REJH20 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.