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Listen to Sraffa's silences: a new interpretation of Sraffa's Production of Commodities

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  • Ajit Sinha

Abstract

This paper argues that the received interpretation of Sraffa's prices as classical 'natural prices' that would prevail when the system is at the centre of gravitation cannot be retained. It offers an alternative interpretation in which Sraffa's prices are completely independent of demand considerations or the condition of equilibrium of demand and supply. The requirement of the uniform rate of profits in Sraffa's price equations is argued to be a logical consequence of the assumption that wages are uniform and fixed from outside the system. The paper provides evidence from Sraffa's published and unpublished writings to buttress its new interpretation. It also provides answers to the major criticisms and questions raised against the new interpretation. Copyright , Oxford University Press.

Suggested Citation

  • Ajit Sinha, 2012. "Listen to Sraffa's silences: a new interpretation of Sraffa's Production of Commodities," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 36(6), pages 1323-1339.
    • Handle: RePEc:oup:cambje:v:36:y:2012:i:6:p:1323-1339
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    File URL: http://hdl.handle.net/10.1093/cje/bes049
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    Citations

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    Cited by:

    1. Fratini, Saverio Maria & Ravagnani, Fabio, 2023. "Sraffa and the ‘slogans not used’," MPRA Paper 117815, University Library of Munich, Germany.
    2. Yoann Verger, 2015. "Sraffa and the environment," Working Papers hal-01186009, HAL.
    3. Yoann Verger, 2018. "Sraffa and Manara: the mystery of the last article of Piero Sraffa," Working Papers hal-01700137, HAL.
    4. Yoann Verger, 2015. "Sraffa and ecological economics: review of the literature," Working Papers hal-01182894, HAL.
    5. Ajit Sinha, 2015. "A Reflection on the Samuelson-Garegnani Debate," Economic Thought, World Economics Association, vol. 4(2), pages 1-48, September.
    6. Yoann Verger, 2017. "Sraffa and the revenue of the owner of non- renewable natural resources: notes on a never- ending debate [Sraffa et le revenu du propriétaire d'une ressource naturelle non-renouvelable: notes sur u," Working Papers hal-01596166, HAL.
    7. Romar CORREA, 2017. "Review of Ajit Sinha, A Revolution in Economic Theory: The Economics of Piero Sraffa, Palgrave Macmillan, 2016, x + 244 pages, ISBN 978-3319306155," The Journal of Philosophical Economics, Bucharest Academy of Economic Studies, The Journal of Philosophical Economics, vol. 10(2), pages 125-131, May.
    8. Antonio D'Agata & Kenji Mori, 2017. "An Analytical Foundation of the Classical View of Long-Period Prices with Differential Profit Rates," Metroeconomica, Wiley Blackwell, vol. 68(1), pages 22-46, February.
    9. Scott Carter, 2018. "On the Hijacking of the Intellectual and Archival Legacy of Piero Sraffa: A Comment on Ajit Sinha (2016)—A Revolution in Economic Theory: The Economics of Piero Sraffa," Bulletin of Political Economy, Bulletin of Political Economy, vol. 12(1-2), pages 3-34, June.

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