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La variazione dei prezzi relativi da Ricardo a Sraffa
[The change in relative prices from Ricardo to Sraffa]


  • Iacono, Roberto


In the 1960, when “Production of commodities by means of commodities” by Piero Sraffa was published, the theoretical debate in economics was dominated by the keynesian and neoclassical economists. The theory of value and distribution of the classical economists had been abandoned. Sraffa recalls this theory in his book, providing a new rigorous formulation of the surplus approach and creating the framework which will serve as a basis for future critiques of the marginalist approach. The crucial issue is the theoretical formulation of the change in relative prices with respect to changes in the distribution of income. The scope of this paper is to shed light on the historical development of this aspect of the theory. At first I will reconsider the work done by D.Ricardo, subsequently the innovations brought by Sraffa will be analyzed, with their implications for the capital controversy debate and the general critique to the neoclassic theory of value.

Suggested Citation

  • Iacono, Roberto, 2005. "La variazione dei prezzi relativi da Ricardo a Sraffa
    [The change in relative prices from Ricardo to Sraffa]
    ," MPRA Paper 27023, University Library of Munich, Germany, revised Jun 2010.
  • Handle: RePEc:pra:mprapa:27023

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    References listed on IDEAS

    1. Diego Comin & Norman Loayza & Farooq Pasha & Luis Serven, 2014. "Medium Term Business Cycles in Developing Countries," American Economic Journal: Macroeconomics, American Economic Association, vol. 6(4), pages 209-245, October.
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    5. Huang, Haizhou & Wei, Shang-Jin, 2006. "Monetary policies for developing countries: The role of institutional quality," Journal of International Economics, Elsevier, vol. 70(1), pages 239-252, September.
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    7. Robert E. Hall & Charles I. Jones, 1999. "Why do Some Countries Produce So Much More Output Per Worker than Others?," The Quarterly Journal of Economics, Oxford University Press, vol. 114(1), pages 83-116.
    8. Jeffrey A. Frankel, 2010. "Monetary Policy in Emerging Markets: A Survey," NBER Working Papers 16125, National Bureau of Economic Research, Inc.
    9. César Calderón & Roberto Duncan & Klaus Schmidt-Hebbel, 2004. "Institutions and Cyclical Properties of Macroeconomic Policies," Working Papers Central Bank of Chile 285, Central Bank of Chile.
    10. Devereux, Michael B & Poon, Doris, 2004. "A Simple Model of Optimal Monetary Policy with Financial Constraints," CEPR Discussion Papers 4370, C.E.P.R. Discussion Papers.
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    More about this item


    Sraffian economics; relative prices; capital controversy;

    JEL classification:

    • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals
    • B29 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Other
    • B24 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Socialist; Marxist; Scraffian


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