El Viejo Almacen -Bs.As.

Surplus Approach

“Es necesario volver a la economía política de los Fisiócratas, Smith, Ricardo y Marx. Y uno debe proceder en dos direcciones: i) purgar la teoría de todas las dificultades e incongruencias que los economistas clásicos (y Marx) no fueron capaces de superar, y, ii) seguir y desarrollar la relevante y verdadera teoría económica como se vino desarrollando desde “Petty, Cantillón, los Fisiócratas, Smith, Ricardo, Marx”. Este natural y consistente flujo de ideas ha sido repentinamente interrumpido y enterrado debajo de todo, invadido, sumergido y arrasado con la fuerza de una ola marina de economía marginal. Debe ser rescatada."
Luigi Pasinetti


ISSN 1853-0419

Entrada destacada

A 80 años de la "Teoría General" de Keynes ¿El ahorro se puede "canalizar" hacia la inversión?

 por Alejandro Fiorito* Hace unos dias el presidente del BCRA , Adolfo  Sturzenegger afirmó: “ Sustituimos consumo por ahorro”.  ...

11 feb. 2016

Fabio Petri: Walras on capital: interpretative insights from a review by Bortkiewicz

 

 

Centro Sraffa is pleased to announce that Centro Sraffa Working Paper (CSWP) N. 17Walras on capital: interpretative insights from a review by Bortkiewicz, by Fabio Petri, is now online and available for public access at the following link

 

Abstract
A review by Bortkiewicz, who leheartedly approved by Walras, of the second edition of the Eléments supplies an important insight, until now neglected, on how Walras interpreted his own capitalization equations before the fourth edition. The insight helps to explain why Walras was for so long unable to perceive that his given vectorial endowment of capital goods was incompatible with the uniform rate of return on supply price that he was assuming. Walras seems to have confusedly considered the capital endowments relevant for the determination of equilibrium rentals to be the ones resulting from the production of new capital goods, and therefore as having already undergone an adjustment of their composition toward the one required for URRSP. Realization of the erroneousness of this view can explain the unobtrusive but crucial changes in the discussion of capitalization in the fourth edition, and most likely also the introduction of the ‘bons’.

You will find all information about past issues of the Centro Sraffa Working Papers, as well as rules for submission and authors' guidelines, on the Centro Sraffa website