Misunderstanding Classical Economics - The Sraffian Interpretation of the Surplus Approach
AbstractIn 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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Bibliographic InfoPaper provided by Exeter University, Department of Economics in its series Discussion Papers with number 9802.
Length: 35 pages
Date of creation: 1998
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ECONOMIC EQUILIBRIUM ; MACROECONOMICS;
Other versions of this item:
- 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.
- 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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