Sraffa and the Reconstruction of Economic Theory

Theories of Value and Distribution

Edited By Enrico Sergio Levrero, Antonella Palumbo and Antonella Stirati

 

Written on the occasion of the 50th anniversary of the publication of Piero Sraffa's Production of Commodities by Means of Commodities, the papers selected and contained in this book account for the work completed around the two central aspects of his contribution to economic analysis, namely the criticism of the neoclassical (or 'marginalist') theory of value and distribution, and the reconstruction of economic theory along the lines of the Classical approach. Divided into three volumes, the book debates the most fruitful routes for advancements in this field and their implications for applied and policy analysis.

This first volume focuses on the critique of general equilibrium theory and the determinants of income distribution, together with the related issue of the different methods of analysis which characterise the Classical theory and the marginalist approach.

About the Author(s)

By Enrico Sergio Levrero, Antonella Palumbo and Antonella Stirati

Enrico Sergio Levrero is Associate Professor at Roma Tre University, Italy. His main research interests are in the theories of value and distribution, wages and the labour market, issues of monetary economics and Sraffa's works. His previous works include Four Lectures on Wages and the Labour Market (2012) and he has published several articles in academic journals and collective volumes. 

 

Antonella Palumbo is Associate Professor of economics at Roma Tre University, Italy. Her main research interests and activities are in the modern revival of Classical economics and in the theories of demand-led growth. She has published several articles in academic journals and collective volumes.

Antonella Stirati is currently a Professor at Roma Tre University, Italy. Her main scientific interest is in the revival of the surplus approach, particularly in the areas of income distribution and employment theory. She has published the Theory of Wages in Classical Economics (Elgar, 1994) and several articles in academic journals and collective volumes.

Table of Contents Book I

PART I: THE CAPITAL CONTROVERSY AND GENERAL EQUILIBRIUM ANALYSIS
1. On the Present State of the Capital Controversy; Pierangelo Garegnani
2. Two Strands of Thought in Pierangelo Garegnani's Capital Theory Critique; Harvey Gram
3. Only a Few Techniques Matter! On the Number of Curves on the Wage Frontier; Bertram Schefold
4. On the Stability of the Ramsey Accumulation Path; Enrico Bellino
5. Malinvaud on Wicksell's Legacy to Capital Theory: Some Critical Remarks; Saverio M. Fratini
6. Capital and Stationary States; Paolo Trabucchi

PART II: THE REVIVAL AND DEVELOPMENT OF THE CLASSICAL THEORY OF DISTRIBUTION
7.Marx's theory of wages and the revival of the Surplus Approach; Enrico Sergio Levrero
8. On Advanced Capitalism and the Determinants of the Change in Income Distribution: A Classical Interpretation; Massimo Pivetti
9. Alternative 'Closures' to Sraffa's System: Some Reflections in the Light of the Changes in Income Distribution in the Last Decades; Antonella Stirati 
10. Sraffa and Keynes: Two Ways of Making a 'Revolution' in Economic Theory; Guglielmo Chiodi and Leonardo Ditta
11. Causality and Structure in Piecemeal Macroeconomic Modelling; Sergio Parrinello
12. On the Link Between Functional and Personal Distribution in Italy; Aldo Barba
13. Exchange Rate Policy, Distributive Conflict and Structural Heterogeneity. The Argentinian and Brazilian Cases; Alejandro Fiorito and Fabian Amico

Table of Contents Book II

By Enrico Sergio Levrero, Antonella Palumbo and Antonella Stirati

 

 

 

 

 

 

 

 

 

 

 

Table of Contents Book III

By Enrico Sergio Levrero, Antonella Palumbo and Antonella Stirati

PART I
1. Piero Sraffa and the Future of Economics – A Personal Evaluation; Luigi Pasinetti
2. Disequilibrium and Reproduction Prices: Some Extensions of Sraffa's Model; Carlo Benetti, Christian Bidard and Edith Klimovsky
3. Sraffa's System in Relation to Some Main Currents in Unorthodox Economics; Tony Aspromourgos
4. Sraffians, Other Post-Keynesians, and the Controversy Over Centres of Gravitation; Marc Lavoie
5. Sraffa, Sen and Non-causal Representations in Social Analysis; Andrea Ginzburg
6. Piero Sraffa and Shackle's Years of High Theory – Sraffa's Significance in the History of Economic Theories; Heinrich Bortis

PART II: THE EVOLUTION OF SRAFFA'S IDEAS AND THE MANUSCRIPTS
7. On Sraffa's and Wittgenstein Methodological Similarities: from the Rejection of Inadequate Types of Causality to the Comparison of Different 'forms of life'; Richard Arena
8. Sraffa's Lectures on Continental Banking; Marcello de Cecco
9. The Construction of Long Period Supply Curves: Notes on Sraffa's Criticism to the Analyses of Partial Equilibrium; Giuseppe Freni and Neri Salvadori
10. A Pictorial Approach to the Standard Commodity with a Digression; Giorgio Gilibert
11. On Sraffa's Corrected Organic Composition of Capital; Scott Carter

PART III: SRAFFA'S LEGACY AND THE INTERPRETATION OF RICARDO
12. Rent, as a Share of Produce, Not Governed by Proportions; Christian Gherke
13. Ricardo's Writings in Russia: Influence and Interpretations; Gennady Borgomazov and Denis Melnik

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