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

by Levrero, Enrico Sergio; Palumbo, Antonella; Stirati, Antonella

• ISBN13: 9780230355262
• ISBN10: 0230355269
• Format: Hardcover
• Copyright: 2013-12-13
• Publisher: Palgrave Macmillan

Summary

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 Sraffa and the Reconstruction of Economic Theory 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, Sraffa and the Reconstruction of Economic Theory debates the most fruitful routes for advancement 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.

Author Biography

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. He previous works include Four Lectures on Wages and the Labour Market (Aracne, 2012) and he has published several articles in academic journals and collected 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 collected volumes.

Table of Contents

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