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Only a Few Techniques Matter! On the Number of Curves on the Wage Frontier

In: Sraffa and the Reconstruction of Economic Theory: Volume One

Author

Listed:
  • Bertram Schefold

Abstract

Wage curves have become the main tool for the analysis of technical choice, but what does their envelope look like? Joan Robinson used to say that one should expect one technique to dominate all others, independently of distribution. It sounded like a polemical remark to counteract all reference to neoclassical substitution, and she was more cautious in her writing,1 but the drawing on the blackboard resembled Figure 3.1, w1, w2 representing two techniques. (The reader not familiar with the Sraffa analysis and the notation used here can pick it up in the first paragraph of Section 3.2.)

Suggested Citation

  • Bertram Schefold, 2013. "Only a Few Techniques Matter! On the Number of Curves on the Wage Frontier," Palgrave Macmillan Books, in: Enrico Sergio Levrero & Antonella Palumbo & Antonella Stirati (ed.), Sraffa and the Reconstruction of Economic Theory: Volume One, chapter 3, pages 46-69, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-31683-7_4
    DOI: 10.1057/9781137316837_4
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    Cited by:

    1. Kersting, Götz & Schefold, Bertram, 2021. "Best techniques leave little room for substitution. A new critique of the production function," Structural Change and Economic Dynamics, Elsevier, vol. 58(C), pages 509-533.
    2. Schefold, Bertram, 2021. "Sraffa’s ‘Reduction’ of the prices of basics," Structural Change and Economic Dynamics, Elsevier, vol. 59(C), pages 575-581.
    3. Torres-González, Luis Daniel, 2022. "The Characteristics of the Productive Structure Behind the Empirical Regularities in Production Prices Curves," Structural Change and Economic Dynamics, Elsevier, vol. 62(C), pages 622-659.

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