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Method and analysis in Piero Sraffa's 1925 critique of Marshallian economics

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  • Rodolfo Signorino

Abstract

This paper provides an analysis of the logical structure and analytical content of Piero Sraffa's 1925 Italian paper, 'Sulle relazioni fra costo e quantita prodotta'. It shows that Sraffa's criticism of the supply side of Marshall's theory of value in a competitive partial equilibrium model involves analytical and methodological issues. Endorsing an agressive methodology Sraffa logically reconstructs Marshall's model on variable returns to determine its empirical domain. He demonstrates that the latter encompasses only the empirically irrelevant cases of specific factor industries and specific external economies industries and that it cannot be generalized to non-specific factor industries and to non-specific external economies industries.

Suggested Citation

  • 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.
    • Handle: RePEc:taf:eujhet:v:7:y:2000:i:4:p:569-594
    DOI: 10.1080/09672560050210115
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    References listed on IDEAS

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    1. Alessandro Roncaglia, 1979. "Sraffa and the Reconstruction of Political Economy," Challenge, Taylor & Francis Journals, vol. 21(6), pages 48-53, January.
    2. Harcourt, G C, 1986. "On the Influence of Piero Sraffa on the Contributions of Joan Robinson to Economic Theory," Economic Journal, Royal Economic Society, vol. 96(380a), pages 96-108, Supplemen.
    3. Davis, J B, 1988. "Sraffa, Wittgenstein and Neoclassical Economics," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 12(1), pages 29-36, March.
    4. Panico, Carlo, 1991. "Some Notes on Marshallian Supply Functions," Economic Journal, Royal Economic Society, vol. 101(406), pages 557-569, May.
    5. B. Davis John, 1998. "Sraffa's Early Philosophical Thinking," Review of Political Economy, Taylor & Francis Journals, vol. 10(4), pages 477-491.
    6. Maneschi, Andrea, 1986. "A Comparative Evaluation of Sraffa's 'The Laws of Returns under Competitive Conditions' and Its Italian Precursor," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 10(1), pages 1-12, March.
    7. Newman, Peter & Vassilakis, Spyros, 1988. "Sraffa and Imperfect Competition," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 12(1), pages 37-42, March.
    8. Ozanne, Adam, 1996. "Do Supply Curves Slope Up? The Empirical Relevance of the Sraffian Critique of Neoclassical Production Economics," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 20(6), pages 749-762, November.
    9. Roger Backhouse & Andrea Salanti, 1999. "The methodology of macroeconomics," Journal of Economic Methodology, Taylor & Francis Journals, vol. 6(2), pages 159-169.
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    Cited by:

    1. 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.
    2. 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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