Sraffa on Income Distribution
This is a brief assessment of Piero Sraffa's treatment of income distribution. On the basis of Sraffa's texts, the author rejects two opposite and extreme views, claiming respectively no concern for the problem of income distribution, and a very specific income distribution theory. It is shown that (1) Sraffa was concerned with providing the foundations of a theory of income distribution; and (2) these foundations are compatible with some theories (those that take eithe r the wage rate or the rate of profits as an independent variable withi n the production process) and are incompatible with others, in particul ar with marginal productivity theories. Copyright 1988 by Oxford University Press.
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Volume (Year): 12 (1988)
Issue (Month): 1 (March)
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