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Sraffa’s price equations in light of Garegnani and Pasinetti - The ‘core’ of surplus theories and the ‘natural’ relations of an economic system

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  • Bellino, Enrico

Abstract

Within the rich literature that has flowed from Sraffa’s framework of Production of Commodities by means of Commodities a prominent position is occupied by the research programmes carried out independently by two authoritative exponents of this school: Pierangelo Garegnani and Luigi Pasinetti. Certain specific features of their approaches might lead one to perceive them as alternative to one another. Yet, when analysed through a constructive perspective, one discovers not only a common origin and methodology, but also strict complementarity in analysing the main characteristics of industrial systems.

Suggested Citation

  • Bellino, Enrico, 2014. "Sraffa’s price equations in light of Garegnani and Pasinetti - The ‘core’ of surplus theories and the ‘natural’ relations of an economic system," MPRA Paper 60730, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:60730
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    References listed on IDEAS

    as
    1. Heinz D. Kurz & Neri Salvadori (ed.), 2003. "The Legacy of Piero Sraffa," Books, Edward Elgar Publishing, volume 0, number 2143.
    2. Harcourt,G. C., 1972. "Some Cambridge Controversies in the Theory of Capital," Cambridge Books, Cambridge University Press, number 9780521096720, September.
    3. Joan Robinson, 1961. "Prelude To A Critique Of Economic Theory," Oxford Economic Papers, Oxford University Press, vol. 13(1), pages 53-58.
    4. Ragnar Frisch, 1936. "On the Notion of Equilibrium and Disequilibrium," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 3(2), pages 100-105.
    5. Peter Newman, 1962. "Production of Commodities by Means of Commodities," Swiss Journal of Economics and Statistics (SJES), Swiss Society of Economics and Statistics (SSES), vol. 98(I), pages 58-75, March.
    6. Samuelson, Paul A, 1991. "Sraffa's Other Leg," Economic Journal, Royal Economic Society, vol. 101(406), pages 570-574, May.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    surplus approach; ‘core’ of a capitalist system; structural economic dynamics; ‘natural system’; Garegnani; Pasinetti; Sraffa; Keynes; post-Keynesians;
    All these keywords.

    JEL classification:

    • B12 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Classical (includes Adam Smith)
    • B24 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Socialist; Marxist; Scraffian
    • B51 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Socialist; Marxian; Sraffian
    • D33 - Microeconomics - - Distribution - - - Factor Income Distribution
    • E11 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Marxian; Sraffian; Kaleckian
    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory
    • E2 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment

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