Sraffa and the Reconstruction of Economic Theory: Volume One : Theories of Value and Distribution

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 reconstruction of economic theory along the lines of the Classical approach. 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 accounts 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 volumes focuses on the critique of general equilibrium theory and the determinants of income distribution, together with the related issue of the method of analysis which characterises the Classical theory and the marginalist approach Cover......Page 2 Contents......Page 7 List of Tables and Figures......Page 9 Preface......Page 12 Acknowledgements......Page 14 List of Contributors......Page 15 Introduction......Page 17 Part I: The Capital Controversy and General Equilibrium Analysis......Page 29 1 On the Present State of the Capital Controversy......Page 31 2 Two Strands of Thought in Pierangelo Garegnani's Capital Theory Critique......Page 54 3 Only a Few Techniques Matter! On the Number of Curves on the Wage Frontier......Page 62 4 On the Stability of the Ramsey Accumulation Path......Page 86 5 Malinvaud on Wicksell's Legacy to Capital Theory: Some Critical Remarks......Page 121 6 Capital and Stationary States: Considerations on the Reasons Adduced for Abandoning the Method of Normal Positions......Page 145 Part II: The Revival and Development of the Classical Theory of Distribution......Page 167 7 Marx's Theory of Wages and the Revival of the Surplus Approach......Page 169 8 On Advanced Capitalism and the Determinants of the Change in Income Distribution: A Classical Interpretation......Page 192 9 Alternative 'Closures' to Sraffa's System: Some Reflections in the Light of the Changes in Functional Income Distribution in the United States......Page 208 10 Sraffa and Keynes: Two Ways of Making a 'Revolution' in Economic Theory......Page 234 11 Causality and Structure in Piecemeal Macroeconomic Modelling......Page 257 12 On the Link between Functional and Personal Distribution in Italy......Page 276 13 Exchange Rate Policy, Distributive Conflict and Structural Heterogeneity: The Argentinean and Brazilian Cases......Page 300 Index......Page 325 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. Sraffa and Keynes: Two Ways of Making a 'Revolution' in Economic Theory-- Guglielmo Chiodi and Leonardo Ditta 8. Marx's theory of wages and the revival of the Surplus Approach-- Enrico Sergio Levrero 9. On Advanced Capitalism and the Determinants of the Change in Income Distribution: A Classical Interpretation-- Massimo Pivetti 10. Alternative 'Closures' to Sraffa's System: Some Reflections in the Light of the Changes in Income Distribution in the Last Decades-- Antonella Stirati 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 Electronic book text. - Epublication based on: 9780230355262