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 paper. Thus the paper is divided into four parts and a conclusion. In the first section social provisioning and the social surplus is introduced. In the second section, the Sraffian social surplus approach is delineated while in the third section the heterodox social surplus approach is delineated. In the fourth section of the paper, some of the implications emerging from the differences between the two approaches are discussed. The paper is concluded in the final section.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 27636.
Date of creation: Oct 2010
Date of revision:
social surplus; social product; social provisioning; agency; Sraffian economics; heterodox 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
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-01-03 (All new papers)
- NEP-EVO-2011-01-03 (Evolutionary Economics)
- NEP-PKE-2011-01-03 (Post Keynesian Economics)
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