IDEAS home Printed from https://ideas.repec.org/p/pra/mprapa/65557.html
   My bibliography  Save this paper

Sraffa and the Labour Theory of Value - a note

Author

Listed:
  • Anderaos de Araujo, Fabio

Abstract

An analysis of the invariable measure of prices proposed by the eminent Italian economist Piero Sraffa, who laid the foundations for a new approach in modern economics. Two mathematical appendices are also provided. The first one shows step by step the construction of the Standard Commodity, which is a consistent solution to the transformation of labour values into prices of production. In Appendix II there is a general numerical example of a price system with two industries which makes the understanding of the distribution of income between wages and profits easier. Using a software spreadsheet, for example, it is possible to make numerical simulations and make comparisons between the results obtained from the Sraffa price system with that obtained from Marx's. This is revised version of the original paper written few years ago.

Suggested Citation

  • Anderaos de Araujo, Fabio, 2015. "Sraffa and the Labour Theory of Value - a note," MPRA Paper 65557, University Library of Munich, Germany, revised 12 Jul 2015.
    • Handle: RePEc:pra:mprapa:65557
    as

    Download full text from publisher

    File URL: https://mpra.ub.uni-muenchen.de/65557/1/MPRA_paper_65557.pdf
    File Function: original version
    Download Restriction: no
    ---><---

    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. F. Seton, 1957. "The "Transformation Problem"," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 24(3), pages 149-160.
    3. Garegnani, Pierangelo, 1984. "Value and Distribution in the Classical Economists and Marx," Oxford Economic Papers, Oxford University Press, vol. 36(2), pages 291-325, June.
    4. Fabio Anderaos de Araujo, 1982. "Preços e distribuição do valor segundo Sraffa," Brazilian Journal of Political Economy, Center of Political Economy, vol. 2(2).
    5. Marcuzzo, Maria Cristina, 2012. "Speculation and regulation in commodity markets: The Keynesian approach in theory and practice," MPRA Paper 44131, University Library of Munich, Germany.
    Full references (including those not matched with items on IDEAS)

    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. Anderaos de Araujo, Fabio, 2015. "Sraffa and the Labour Theory of Value - a note," MPRA Paper 65891, University Library of Munich, Germany, revised 31 Jul 2015.
    2. Anderaos de Araujo, Fabio, 2015. "Sraffa and the Labour Theory of Value - a note," MPRA Paper 65426, University Library of Munich, Germany.
    3. Anderaos de Araujo, Fabio, 2015. "Sraffa and the labour theory of value - a note," MPRA Paper 65573, University Library of Munich, Germany, revised 12 Jul 2015.
    4. Jonathan F. Cogliano, 2021. "Marx's Equalized Rate of Exploitation," Working Papers 2021-01, University of Massachusetts Boston, Economics Department.
    5. Ajit Sinha, 2000. "The Transformation Problem: Is the Standard Commodity a Solution?," Review of Radical Political Economics, Union for Radical Political Economics, vol. 32(2), pages 265-281, June.
    6. Gabriel V. Montes‐Rojas, 2023. "A typology of Marxian transformation procedures with endogenous exploitation rate," Metroeconomica, Wiley Blackwell, vol. 74(1), pages 119-137, February.
    7. Fabio Ravagnani, 1999. "On a current characterization of the classical theory of value," Working Papers in Public Economics 39, University of Rome La Sapienza, Department of Economics and Law.
    8. repec:drm:wpaper:2013-39 is not listed on IDEAS
    9. Bellino, Enrico & Nerozzi, Sebastiano, 2013. "Causality and interdependence in Pasinetti's works and in the modern classical approach," MPRA Paper 52179, University Library of Munich, Germany.
    10. Sergio Cesaratto, 2012. "Controversial and novel features of the Eurozone crisis as a balance of payment crisis," Department of Economics University of Siena 640, Department of Economics, University of Siena.
    11. Luis Daniel Torres-González, 2020. "The Characteristics of the Productive Structure Behind the Empirical Regularities in Production Prices Curves," Working Papers 2016, New School for Social Research, Department of Economics.
    12. Cavalieri, Duccio, 2015. "Structural interdependence in monetary economics: theoretical assessment and policy implications," MPRA Paper 65526, University Library of Munich, Germany.
    13. 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.
    14. Saverio M. Fratini, 2020. "Interest, profit and saving in Arrow-Debreu equilibrium models," Bulletin of Political Economy, Bulletin of Political Economy, vol. 14(1), pages 39-53, June.
    15. 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.
    16. Saverio M. Fratini, 2018. "Is Marx's absolute rent due to a monopoly price?," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 25(5), pages 961-985, September.
    17. Sergio Cesaratto, 2017. "Beyond the traditional monetary circuit: endogenous money, finance and the theory of long-period effective demand," Department of Economics University of Siena 757, Department of Economics, University of Siena.
    18. Di Bucchianico, Stefano, 2019. "The Impact of Financialization on the Rate of Profit: A Discussion," Centro Sraffa Working Papers CSWP36, Centro di Ricerche e Documentazione "Piero Sraffa".
    19. Simon Mohun & Roberto Veneziani, 2017. "Value, Price, And Exploitation: The Logic Of The Transformation Problem," Journal of Economic Surveys, Wiley Blackwell, vol. 31(5), pages 1387-1420, December.
    20. Alessandro Roncaglia, 2014. "Keynes is alive and well: a survey article," PSL Quarterly Review, Economia civile, vol. 67(268), pages 105-124.
    21. 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.

    More about this item

    Keywords

    Sraffa; Standard Commodity; labour values; income distribution;
    All these keywords.

    JEL classification:

    • A1 - General Economics and Teaching - - General Economics
    • B00 - Schools of Economic Thought and Methodology - - General - - - History of Economic Thought, Methodology, and Heterodox Approaches
    • B12 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Classical (includes Adam Smith)

    NEP fields

    This paper has been announced in the following NEP Reports:

    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:pra:mprapa:65557. 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: Joachim Winter (email available below). General contact details of provider: https://edirc.repec.org/data/vfmunde.html .

    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.