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Piero Sraffa's lectures on the advanced theory of value 1928-31 and the rediscovery of the classical approach

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  • Rodolfo Signorino

Abstract

Sraffa's Lectures on the Advanced Theory of Value 1928-1931 and his two preparatory Notes of summer and November 1927 provide a wealth of material, up to now unpublished, for a reconstruction of the early stage of his inquiry into the cognate fields of pure economic theory and its history. The three manuscripts show that in the late 1920s Sraffa rejected the Marshallian constant-cost interpretation of classical economics, an interpretation to which he had adhered in his 1925 and 1926 papers. Moreover, in the Lectures, Sraffa presents for the first time his own interpretation of classical economics based on the concepts of surplus, physical real costs and asymmetric treatment of distributive variables.

Suggested Citation

  • Rodolfo Signorino, 2005. "Piero Sraffa's lectures on the advanced theory of value 1928-31 and the rediscovery of the classical approach," Review of Political Economy, Taylor & Francis Journals, vol. 17(3), pages 359-380.
    • Handle: RePEc:taf:revpoe:v:17:y:2005:i:3:p:359-380
    DOI: 10.1080/09538250500147080
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    References listed on IDEAS

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    1. Heinz D. Kurz & Neri Salvadori (ed.), 1998. "The Elgar Companion to Classical Economics," Books, Edward Elgar Publishing, volume 0, number 851, March.
    2. Heinz Kurz, 1998. "Against the current: Sraffa's unpublished manuscripts and the history of economic thought," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 5(3), pages 437-451.
    3. 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.
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    Cited by:

    1. Signorino, Rodolfo, 2011. "David Ricardo on natural and market prices," MPRA Paper 39212, University Library of Munich, Germany.
    2. Michel Bellet & Adrien Lutz, 2018. "Piero Sraffa and the project to publish Saint-Simon’s works," Working Papers 1840, Groupe d'Analyse et de Théorie Economique Lyon St-Étienne (GATE Lyon St-Étienne), Université de Lyon.
    3. Attilio Trezzini, 2018. "Piero Sraffa’s Use of the History of Economic Thought in the Cambridge Lectures," Italian Economic Journal: A Continuation of Rivista Italiana degli Economisti and Giornale degli Economisti, Springer;Società Italiana degli Economisti (Italian Economic Association), vol. 4(1), pages 189-209, March.
    4. Saverio M Fratini, 2018. "Sraffa on the degeneration of the notion of cost [The ultimate standard of value]," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 42(3), pages 817-836.
    5. Rog?rio Arthmar & Taro Hisamatsu, 2021. "Robert Torrens on Say?s Law and the General Glut," HISTORY OF ECONOMIC THOUGHT AND POLICY, FrancoAngeli Editore, vol. 10(1), pages 83-105.
    6. Fratini, Saverio M., 2019. "Theories of value and ultimate standards in Sraffa's notes of summer 1927," MPRA Paper 91728, University Library of Munich, Germany.
    7. Trezzini, Attilio, 2019. "Sraffa on Marshall's Theory of Value in the Cambridge Lectures: Achievements in an Unfinished Criticism," Centro Sraffa Working Papers CSWP34, Centro di Ricerche e Documentazione "Piero Sraffa".
    8. Michel Bellet & Adrien Lutz, 2018. "Piero Sraffa and the project to publish Saint-Simon's works," Working Papers halshs-01973864, HAL.
    9. Rogério Arthmar & Michael McLure, 2019. "Sraffa, Myrdal, and the 1961 Söderström Gold Medal," Scandinavian Journal of Economics, Wiley Blackwell, vol. 121(2), pages 843-853, April.

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