A Revolution In Economic Theory

Author: Ajit Sinha
Publisher: Springer
ISBN: 3319306162
Size: 24.73 MB
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This book draws on the work of one of the sharpest minds of the 20th century, Piero Sraffa. Ludwig Wittgenstein credited him for 'the most consequential ideas' of the Philosophical Investigations (1953) and put him high on his short list of geniuses. Sraffa's revolutionary contribution to economics was, however, lost to the world because economists did not pay attention to the philosophical underpinnings of his economics. Based on exhaustive archival research, Sinha presents an exciting new thesis that shows how Sraffa challenged the usual mode of theorizing in terms of essential and mechanical causation and, instead, argued for a descriptive or geometrical theory based on simultaneous relations. A consequence of this approach was a complete removal of 'agent's subjectivity' and 'marginal method' or counterfactual reasoning from economic analysis – the two fundamental pillars of orthodox economic theory.

Contributions To Modern Economics

Author: Joan Robinson
Publisher: Academic Press
ISBN: 1483263231
Size: 14.25 MB
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Contributions to Modern Economics includes contributions to two great intellectual upheavals in economic theory: the Keynesian Revolution and the revival of the classical theory of profits led by Piero Sraffa. The formation of prices in capitalist and socialist economies and of international trade is also discussed. The evolution of these ideas is linked to the personal and historical events that influenced them. Comprised of 24 chapters, this book begins by describing the second crisis of economic theory, which is related to the first crisis — the great slump of the 1930s. The reader is then introduced to the theory of money and the analysis of output; obstacles to full employment; and the concept of hoarding. Subsequent chapters explore capital, profits, and prices, with emphasis on the theory of capital, imperfect competition, and the theory of value. International trade, capitalism, and beggar-my-neighbor remedies for unemployment are also examined. This monograph should be of interest to economists.

Theories Of Value From Adam Smith To Piero Sraffa

Author: Ajit Sinha
Publisher: Routledge Chapman & Hall
ISBN: 9781138338012
Size: 34.85 MB
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This book presents a comprehensive account of more than 200 years of controversy on the classical theories of value and distribution. The author focuses on four, perhaps most critical classics -- Adam Smith's Wealth of Nations, David Ricardo's Principles of Political Economy, Karl Marx's Capital and Piero Sraffa's Production of Commodities by Means of Commodities. The book highlights several significant differences in the widely celebrated theories of the four authors as it searches for the 'classical standpoint' that separates them from the 'moderns'. It also challenges canonical interpretations to analyse their flaws and weaknesses, in addition to the already obvious strengths, and critically engages with the major alternative interpretations and criticisms of the theories. With a new Afterword that follows up on the debates and developments since the first edition, this book will appeal to scholars and academics of economic theory and philosophy, as well as to the general reader.

Piero Sraffa S Political Economy

Author: Terenzio Cozzi
Publisher: Routledge
ISBN: 1134592175
Size: 41.32 MB
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A century after his birth, this volume presents a re-assessment of the life and work of Piero Sraffa, one of the great economists of the twentieth century. From his anti-Marshallian articles of 1925 and 1926 to his classic work on the theory of capital, Production of Commodities by Means of Commodities, Sraffa's contribution to the study of economics is closely examined.

Piero Sraffa

Author: John Cunningham Wood
Publisher: Psychology Press
ISBN: 9780415114431
Size: 14.61 MB
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Piero Sraffa was born in Turin in 1898. He was a professor at Perugia and Calgari from 1924-6 where he published his famous article attacking the Marshallian theory of the firm. However, his reputation is founded on his time at Cambridge from 1927 until his death in 1985. The main body of his work was his editing of The Works and Correspondence of David Ricardo, and eleven volume set, which was published between 1951 and 1973. In 1960 he produced his famous Production of Commodities by Means of Commodities which began a critique of economics that founded the Neo-Ricardian school. Piero Sraffa: Critical Assessments brings together some 115 articles on this great economist. Sraffa's work is notoriously eliptical and elusive and has prompted a massive and often heated critical literature. The work presents a detailed overview of the analytical writings on Sraffa from contemporary sources through to the present day. The articles have been chosen to cover all aspects of Sraffa's work, from the theory to the practical application. These volumes will be an invaluable reference for anyone studying the development of modern economics.

Sraffa And The Reconstruction Of Economic Theory Volume Three

Author: E. Levrero
Publisher: Springer
ISBN: 1137314044
Size: 79.29 MB
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This book accounts for the work done around the two central aspects of Piero Sraffa's contribution to economic analysis, namely the criticism of the neoclassical theory of value and distribution and the construction of economic theory along the lines of the Classical approach.

Sraffa And Modern Economics

Author: Roberto Ciccone
Publisher: Routledge
ISBN: 113671541X
Size: 14.58 MB
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Analyzing Sraffa, one of the key figures in the history of economics, this book explores his legacy and the relevance of his thought for modern economics. Written by an array of internationally respected contributors, including Schefold, Aspromourgos, Nell and Kurz it is an invaluable tool for all those studying the history of economic thought.

The Cambridge Revival Of Political Economy

Author: Nuno Ornelas Martins
Publisher: Routledge
ISBN: 113466642X
Size: 78.63 MB
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The marginalist revolution of the late nineteenth century consolidated what Karl Marx and Piero Sraffa called ‘vulgar economy’, bringing with it an emphasis on a scarcity theory that replaced the classical surplus theory. However, the classical political economy of Adam Smith and David Ricardo has been revived within the Cambridge economic tradition. This book looks at how different branches of the Cambridge economic tradition have focused on various aspects of this revival over time. The author shows that classical political economy is distinct from vulgar political economy in terms of its economic, social, and ethical theory, with each difference resting on an issue of ontology. Structured in three parts, the book examines the central contested aspects of these theories, namely the nature of value, the relationship between human beings and social structure, and the nature of human wellbeing. The Cambridge Revival of Political Economy will be relevant to students and researchers within the fields of political economy, history of economic thought, politics and philosophy.

The Oxford Handbook Of Post Keynesian Economics Volume 1

Author: G. C. Harcourt
Publisher: Oxford University Press
ISBN: 019935930X
Size: 41.55 MB
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This two volume Handbook contains chapters on the main areas to which Post-Keynesians have made sustained and important contributions. These include theories of accumulation, distribution, pricing, money and finance, international trade and capital flows, the environment, methodological issues, criticism of mainstream economics and Post-Keynesian policies. The Introduction outlines what is in the two volumes, in the process placing Post-Keynesian procedures and contributions in appropriate contexts.

Keynes And The Cambridge Keynesians

Author: Luigi L. Pasinetti
Publisher: Cambridge University Press
ISBN: 0521872278
Size: 66.69 MB
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Keynes and the Cambridge Keynesians traces the historical development of Keynesian economics.