IDEAS home Printed from https://ideas.repec.org/a/taf/eujhet/v10y2003i3p479-496.html
   My bibliography  Save this article

'Interrelated prices' and Sraffa's critique of partial equilibrium

Author

Listed:
  • Arrigo Opocher

Abstract

The early Marshallian literature recognized that, in most significant cases, long-period equilibrium analysis must consider families of interdependent markets which are in direct relation with each other. This perspective, which is different from both standard partial equilibrium and general equilibrium analysis, was developed mainly by two Italian authors, Maffeo Pantaleoni (1857-1924) and Marco Fanno (1878-1964). This paper is aimed at showing that this 'interrelated prices' literature has some points of contact with Piero Sraffa's critique of partial equilibrium analysis. It is argued that Sraffa places the case of a Marshallian decreasing returns industry in a context (rivalry for the use of a common factor in fixed supply) which was familiar to Pantaleoni-Fanno: both maintain that the markets involved are interdependent, even though they evaluate differently the possibility of a sensible equilibrium analysis.

Suggested Citation

  • Arrigo Opocher, 2003. "'Interrelated prices' and Sraffa's critique of partial equilibrium," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 10(3), pages 479-496.
  • Handle: RePEc:taf:eujhet:v:10:y:2003:i:3:p:479-496
    DOI: 10.1080/0967256032000106706
    as

    Download full text from publisher

    File URL: http://www.tandfonline.com/doi/abs/10.1080/0967256032000106706
    Download Restriction: Access to full text is restricted to subscribers.

    File URL: https://libkey.io/10.1080/0967256032000106706?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Steedman, Ian, 1988. "Sraffian Interdependence and Partial Equilibrium Analysis," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 12(1), pages 85-95, March.
    2. Panico, Carlo, 1991. "Some Notes on Marshallian Supply Functions," Economic Journal, Royal Economic Society, vol. 101(406), pages 557-569, May.
    3. Steedman, Ian, 1985. "On Input 'Demand Curves.'," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 9(2), pages 165-172, June.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. 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.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. 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.
    2. A. Ozanne, 1993. "The Importance Of Produced Means Of Production In Uk Agriculture," Journal of Agricultural Economics, Wiley Blackwell, vol. 44(2), pages 205-217, May.
    3. Lavoie, Marc, 1992. "Éléments d’analyse d’une synthèse post-classique," L'Actualité Economique, Société Canadienne de Science Economique, vol. 68(4), pages 607-631, décembre.
    4. 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.
    5. Arrigo Opocher, 2008. "The Two‐Sector Von Thünen Original Marginal Productivity Model Of Capital; And Beyond: Comment," Metroeconomica, Wiley Blackwell, vol. 59(2), pages 105-109, May.
    6. Frederic Lee & Tae-Hee Jo, 2011. "Social Surplus Approach and Heterodox Economics," Journal of Economic Issues, Taylor & Francis Journals, vol. 45(4), pages 857-876.
    7. Cavalieri, Duccio, 2001. "On Some Controversial Aspects of Sraffa's Theoretical System in the Second Half of the 1920s," MPRA Paper 43737, University Library of Munich, Germany.
    8. Andrea Salanti, 2020. "All That Glitters Is Not Gold: The Case of Mainstream Pluralism," Annals of the Fondazione Luigi Einaudi. An Interdisciplinary Journal of Economics, History and Political Science, Fondazione Luigi Einaudi, Torino (Italy), vol. 54(2), pages 287-310, December.
    9. Maria Cristina Marcuzzo, 2003. "Joan Robinson and the three cambridge revolutions," Review of Political Economy, Taylor & Francis Journals, vol. 15(4), pages 545-560.
    10. Zaman, Asad & Saglam, Ismail, 2010. "The conflict between general equilibrium and the Marshallian cross," MPRA Paper 33256, University Library of Munich, Germany.
    11. Rodolfo Signorino, 2000. "Method and analysis in Piero Sraffa's 1925 critique of Marshallian economics," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 7(4), pages 569-594.
    12. Perry, Neil & Rosewarne, Stuart & White, Graham, 2013. "Clean energy policy: Taxing carbon and the illusion of the equity objective," Ecological Economics, Elsevier, vol. 90(C), pages 104-113.
    13. Enrico Bellino & Christian Bidard & Saverio M. Fratini & G.C. Harcourt & Arrigo Opocher & Ian Steedman & Naoki Yoshihara & Heinz D. Kurz, 2017. "Symposium on Arrigo Opocher and Ian Steedman (," Metroeconomica, Wiley Blackwell, vol. 68(4), pages 586-624, November.
    14. 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.
    15. Robert L. Vienneau, 2005. "On Labour Demand And Equilibria Of The Firm," Manchester School, University of Manchester, vol. 73(5), pages 612-619, September.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:eujhet:v:10:y:2003:i:3:p:479-496. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/REJH20 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.