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Sraffa and von Neumann

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  • Heinz Kurz
  • Neri Salvadori

Abstract

This paper discusses the relationship between Piero Sraffa's 1960 book and John von Neumann's 1937 paper on economic growth in the light of some of the material contained in Sraffa's unpublished papers and correspondence. It is argued that the two contributions share a similar outlook and exhibit conceptual parallels; in fact, they can both be said to belong to the 'classical' approach to the theory of value and distribution. The latter is characterized, among other things, by an asymmetric treatment of the distributive variables, the rate of return on capital and the real wage rate. Sraffa's papers show that when he came across the von Neumann model in the mid-1940s his own analysis was already quite advanced, including his analysis of joint production. The paper also contains an exchange of letters between John Richard Hicks and Sraffa on some of the issues dealt with in the latter's book.

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Bibliographic Info

Article provided by Taylor & Francis Journals in its journal Review of Political Economy.

Volume (Year): 13 (2001)
Issue (Month): 2 ()
Pages: 161-180

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Handle: RePEc:taf:revpoe:v:13:y:2001:i:2:p:161-180

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References

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  1. Salvadori, Neri, 1985. "Switching in Methods of Production and Joint Production," The Manchester School of Economic & Social Studies, University of Manchester, vol. 53(2), pages 156-78, June.
  2. Kurz,Heinz D. & Salvadori,Neri, 1997. "Theory of Production," Cambridge Books, Cambridge University Press, number 9780521588676, October.
  3. Steedman, Ian, 1976. "Positive Profits with Negative Surplus Value: A Reply to Wolfstetter," Economic Journal, Royal Economic Society, vol. 86(344), pages 873-76, December.
  4. Schefold, Bertram, 1980. "Von Neumann and Sraffa: Mathematical Equivalence and Conceptual Difference," Economic Journal, Royal Economic Society, vol. 90(357), pages 140-56, March.
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Cited by:
  1. Soklis, George, 2009. "The Conversion of the Supply and Use Tables to Symmetric Input-Output Tables: A Critical Review," MPRA Paper 46873, University Library of Munich, Germany.
  2. Daniele SCHILIRO, 2012. "Structural Change And Models Of Structural Analysis: Theories, Principles And Methods," Journal of Advanced Research in Law and Economics, ASERS Publishing, vol. 0(2), pages 31-49, December.
  3. Li, Wu, 2010. "Cobb-Douglas生产函数和效用函数下的均衡分析
    [An Equilibrium Analysis under Cobb-Douglas Production and Utility Functions]
    ," MPRA Paper 23070, University Library of Munich, Germany.
  4. Li, Wu, 2010. "A Study on Dynamic General Equilibrium under the Classical Growth Framework," MPRA Paper 25540, University Library of Munich, Germany.
  5. Soklis, George, 2011. "Wage-profit curves of the Finnish economy: evidence from the supply and use tables," MPRA Paper 30183, University Library of Munich, Germany.
  6. Schilirò, Daniele, 2009. "Structural models and structural change: analytical principles and methodological issues," MPRA Paper 24480, University Library of Munich, Germany.
  7. Schilirò, Daniele, 2011. "Mutamenti strutturali: modelli, metodi e principi in una nuova prospettiva
    [Structural changes: models, methods and principles towards a new perspective]
    ," MPRA Paper 31566, University Library of Munich, Germany.

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