IDEAS home Printed from https://ideas.repec.org/p/pra/mprapa/65573.html
   My bibliography  Save this paper

Sraffa and the labour theory of value - a note

Author

Listed:
  • Anderaos de Araujo, Fabio

Abstract

An analysis of the invariable measure of prices proposed by the eminent Italian economist Piero Sraffa, who laid the foundations for a new approach in modern economics. Two mathematical appendices are also provided. The first appendix shows step by step the construction of the Standard Commodity, which is a consistent solution to the transformation of labour values into prices of production. In Appendix II there is a general numerical example of a price system with two industries which makes the understanding of the distribution of income between wages and profits easier. Using a software spreadsheet, for example, it is possible to make numerical simulations and make comparisons between the results obtained from the Sraffa price system with that obtained from Marx's. This is revised version of the original paper written few years ago.

Suggested Citation

  • Anderaos de Araujo, Fabio, 2015. "Sraffa and the labour theory of value - a note," MPRA Paper 65573, University Library of Munich, Germany, revised 12 Jul 2015.
    • Handle: RePEc:pra:mprapa:65573
    as

    Download full text from publisher

    File URL: https://mpra.ub.uni-muenchen.de/65573/1/MPRA_paper_65573.pdf
    File Function: original version
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Heinz D. Kurz & Neri Salvadori (ed.), 1998. "The Elgar Companion to Classical Economics," Books, Edward Elgar Publishing, volume 0, number 851.
    2. F. Seton, 1957. "The "Transformation Problem"," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 24(3), pages 149-160.
    3. Fabio Anderaos de Araujo, 1982. "Preços e distribuição do valor segundo Sraffa," Brazilian Journal of Political Economy, Center of Political Economy, vol. 2(2).
    4. Marcuzzo, Maria Cristina, 2012. "Speculation and regulation in commodity markets: The Keynesian approach in theory and practice," MPRA Paper 44131, University Library of Munich, Germany.
    Full references (including those not matched with items on IDEAS)

    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. Anderaos de Araujo, Fabio, 2015. "Sraffa and the Labour Theory of Value - a note," MPRA Paper 65891, University Library of Munich, Germany, revised 31 Jul 2015.
    2. Anderaos de Araujo, Fabio, 2015. "Sraffa and the Labour Theory of Value - a note," MPRA Paper 65557, University Library of Munich, Germany, revised 12 Jul 2015.
    3. Anderaos de Araujo, Fabio, 2015. "Sraffa and the Labour Theory of Value - a note," MPRA Paper 65426, University Library of Munich, Germany.
    4. Giovanni Scarano, 2013. "Capital accumulation and technical conditions along sustainable growth paths," Departmental Working Papers of Economics - University 'Roma Tre' 0182, Department of Economics - University Roma Tre.
    5. Jérôme Lallement & Amanar Akhabbar, 2011. "Appliquer la théorie économique de l'équilibre général : de Walras à Leontief," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00609684, HAL.
    6. Roberto Veneziani & Luca Zamparelli & Simon Mohun & Roberto Veneziani, 2017. "Value, Price, And Exploitation: The Logic Of The Transformation Problem," Journal of Economic Surveys, Wiley Blackwell, vol. 31(5), pages 1387-1420, December.
    7. Alessandro Roncaglia, 2014. "Keynes is alive and well: a survey article," PSL Quarterly Review, Economia civile, vol. 67(268), pages 105-124.
    8. 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.
    9. Christian Gehrke, 2000. "Tozer on machinery," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 7(4), pages 485-506.
    10. Witt, Ulrich, 2005. "'Production' in nature and production in the economy--second thoughts about some basic economic concepts," Structural Change and Economic Dynamics, Elsevier, vol. 16(2), pages 165-179, June.
    11. Ciccone, Michele, 2022. "Some notes on Ricardo's analysis of the convergence process of the market rate of interest to the natural rate," MPRA Paper 112887, University Library of Munich, Germany.
    12. Jonathan F Cogliano, 2023. "Marx’s equalised rate of exploitation," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 47(1), pages 133-169.
    13. Neri Salvadori & Rodolfo Signorino, 2014. "Adam Smith on Monopoly Theory. Making good a lacuna," Scottish Journal of Political Economy, Scottish Economic Society, vol. 61(2), pages 178-195, May.
    14. Alejandro Rodríguez Arana, 2015. "The share of wages in national income and its effects in the short and long run economic activity and growth," Working Papers 0215, Universidad Iberoamericana, Department of Economics.
    15. Ferdinando Meacci, 2009. "Different employment of capitals in vertically integrated sectors: Smith after the Austrians," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 22(4), pages 333-348, December.
    16. Roberto Scazzieri, 2016. "Political Economy as Intellectual History: Pier Luigi Porta (1945-2016)," HISTORY OF ECONOMIC THOUGHT AND POLICY, FrancoAngeli Editore, vol. 2016(1), pages 119-132.
    17. Peter Kriesler & Joseph Halevi & Mark Setterfield, 2020. "Political Aspects of ‘Buffer Stock’ Employment: A Reconsideration," Working Papers 2009, New School for Social Research, Department of Economics.
    18. Homero Cuevas, 2014. "El poder y el mercado en la economía internacional," Books, Universidad Externado de Colombia, Facultad de Economía, edition 1, volume 1, number 69.
    19. Tommaso Ciarli & André Lorentz & Maria Savona & Marco Valente, 2010. "The Effect Of Consumption And Production Structure On Growth And Distribution. A Micro To Macro Model," Metroeconomica, Wiley Blackwell, vol. 61(1), pages 180-218, February.
    20. Homero Cuevas, 1986. "El sistema de Bortkiewicz, las industrias no básicas y la tasa de ganancia," Revista Cuadernos de Economia, Universidad Nacional de Colombia, FCE, CID, June.

    More about this item

    Keywords

    Sraffa; standard commodity; prices; labour values; income distribution;
    All these keywords.

    JEL classification:

    • A1 - General Economics and Teaching - - General Economics
    • B12 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Classical (includes Adam Smith)

    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:pra:mprapa:65573. 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: Joachim Winter (email available below). General contact details of provider: https://edirc.repec.org/data/vfmunde.html .

    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.