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Sraffa's Critique of Marshall: A Reassessment

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  • Mongiovi, Gary

Abstract

This paper reviews Piero Sraffa's critique of the Marshallian theory of supply. The dominant interpretations appear to have misread the connection between the critique and Sraffa's later work. This critique was directed at the inability of Alfred Marshall's theory to provide a generally valid explanation of price under competitive conditions but insufficient attention has been paid to Sraffa's concern to find a theory of value that could accommodate increasing returns. There is little evidence, moreover, to support the standard claim that Sraffa adopted the simultaneous equation approach of Production of Commodities in order to resolve the deficiencies of the partial method. (c) 1996 Academic Press Limited Copyright 1996 by Oxford University Press.

Suggested Citation

  • Mongiovi, Gary, 1996. "Sraffa's Critique of Marshall: A Reassessment," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 20(2), pages 207-224, March.
    • Handle: RePEc:oup:cambje:v:20:y:1996:i:2:p:207-24
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    Cited by:

    1. John Davis, 2002. "Gramsci, Sraffa, Wittgenstein: philosophical linkages," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 9(3), pages 384-401.
    2. Rodolfo Signorino, 2001. "An appraisal of Piero Sraffa's 'The Laws of Returns under Competitive Conditions'," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 8(2), pages 230-250.
    3. Matias Vernengo, 2001. "Sraffa, Keynes and 'The Years of High Theory'," Review of Political Economy, Taylor & Francis Journals, vol. 13(3), pages 343-354.
    4. Martín Alejandro Basso & Isabel del Valle Gulli, 2022. "Ensayo analítico sobre los orígenes de la teoría de la competencia imperfecta," Asociación Argentina de Economía Política: Working Papers 4538, Asociación Argentina de Economía Política.
    5. Giuseppe Freni, 2001. "Sraffa's early contribution to competitive price theory," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 8(3), pages 363-390.
    6. Charis Vlados & Dimos Chatzinikolaou, 2019. "Towards a Restructuration of the Conventional SWOT Analysis," Business and Management Studies, Redfame publishing, vol. 5(2), pages 76-84, June.
    7. Antonella Stirati, 2013. "Sraffa's 1930 manuscripts on the representative firm and Marshall's theory of value and business profit," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 20(3), pages 439-465, June.
    8. Annalisa Rosselli, 2005. "Sraffa and the Marshallian tradition," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 12(3), pages 403-423.

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