Critical Essays on Piero Sraffa's Legacy in Economics

Cambridge University Press
Cambridge University Press
 9780521580892
0-521-58089-7

This collection offers a critical assessment of the published works of Piero Sraffa, one of the leading economists of the twentieth century, and their legacy for the economics profession. The topics covered.

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explore Sraffa's interpretation of the classical economists; his theory of value and distribution; his critique of partial and general neoclassical equilibrium theory; his focus on the problem of capital; and his critique of Hayek's monetary overinvestment theory of the business cycle. Specific issues investigated include intertemporal general equilibrium theory and the capital problem; the probability of reswitching; Ricardo, Malthus, and the corn model; and the meaning and implication of the capital controversy. Among the contributors are many of the world's leading students of Sraffian economics.