IDEAS home Printed from https://ideas.repec.org/h/pal/pshchp/978-3-030-47206-1_15.html
   My bibliography  Save this book chapter

Sraffa, Money and Distribution

In: A Reflection on Sraffa’s Revolution in Economic Theory

Author

Listed:
  • Ragupathy Venkatachalam

    (University of London; New Cross)

  • Stefano Zambelli

    (University of Trento; via Inama)

Abstract

Sraffa’s early work on monetary Economics, his contributions to the theory of capital and his critique of neoclassical tenets are often seen as disjoint contributions. In contrast, we suggest that Sraffa’s contributions have to be viewed as a coherent whole and offer a classification of his scholarly contributions. We point to the unifying thread between his early and later work, which concerns the insufficiency of economic mechanisms or market forces to exclusively determine values (prices, profit rates and wage rates). Their simultaneous determination and consequently the overall indeterminacy of the system are important. We outline the motivations for incorporating money (in the form of credit and debt) inside the traditional Sraffian schemes, to expand the original system and harness its potential. We believe that there is both a need and scope for incorporating deferred means of payments, which are essential for the functioning of any evolved economic system.

Suggested Citation

  • Ragupathy Venkatachalam & Stefano Zambelli, 2021. "Sraffa, Money and Distribution," Palgrave Studies in the History of Economic Thought, in: Ajit Sinha (ed.), A Reflection on Sraffa’s Revolution in Economic Theory, chapter 0, pages 455-497, Palgrave Macmillan.
  • Handle: RePEc:pal:pshchp:978-3-030-47206-1_15
    DOI: 10.1007/978-3-030-47206-1_15
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Citations

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


    Cited by:

    1. Venkatachalam, Ragupathy & Zambelli, Stefano, 2022. "Self-replacing prices with credit and debt," Structural Change and Economic Dynamics, Elsevier, vol. 60(C), pages 451-466.

    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:pal:pshchp:978-3-030-47206-1_15. 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.

    We have no bibliographic references for this item. You can help adding them by using 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: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.palgrave.com .

    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.