IDEAS home Printed from https://ideas.repec.org/p/ris/sraffa/0061.html
   My bibliography  Save this paper

Surplus Approach and Institutions: Where Sraffa Meets Polanyi

Author

Listed:
  • Cesaratto, Sergio

    (University of Siena)

Abstract

Relying on anthropological and archaeological research based on the notion of social surplus, and on the lessons of Marx, Polanyi, Sraffa and Garegnani, the paper argues that the classical surplus approach is naturally associated with institutional and historical analysis. The concept of social surplus is a skeleton which is given muscles by institutional analysis while the latter would be enervated if not anchored to a base of ultimate material interests. Institutions should be looked at in relation to the extraction and distribution of the social surplus and the resulting inequality and social conflict. The paper offers a novel Post Keynesian view of institutions in an interdisciplinary perspective.

Suggested Citation

  • Cesaratto, Sergio, 2023. "Surplus Approach and Institutions: Where Sraffa Meets Polanyi," Centro Sraffa Working Papers CSWP61, Centro di Ricerche e Documentazione "Piero Sraffa", revised 02 May 2023.
    • Handle: RePEc:ris:sraffa:0061
    as

    Download full text from publisher

    File URL: http://www.centrosraffa.org/public/f17913e1-62c3-4e34-94af-0d6af7b9c15d.pdf
    File Function: Full text
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Milanovic, Branko & Lindert, Peter & Williamson, Jeffrey, 2007. "Measuring Ancient Inequality," MPRA Paper 5388, University Library of Munich, Germany.
    2. Stefano Di Bucchianico, 2022. "The role of commodity speculation and household debt accumulation during financialization: a Classical-Keynesian analysis," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 46(2), pages 317-340.
    3. Serge Svizzero & Clem Tisdell, 2014. "Theories About the Commencement of Agriculture in Prehistoric Societies: A Critical Evaluation," Rivista di storia economica, Società editrice il Mulino, issue 3, pages 255-280.
    4. Tony Aspromourgos, 2005. "The invention of the concept of social surplus: Petty in the Hartlib Circle," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 12(1), pages 1-24.
    5. Richard Arena, 2013. "Sraffa’s and Wittgenstein’s Reciprocal Influences: Forms of Life and Snapshots," Post-Print halshs-00941369, HAL.
    6. Joram Mayshar & Omer Moav & Luigi Pascali, 2022. "The Origin of the State: Land Productivity or Appropriability?," Journal of Political Economy, University of Chicago Press, vol. 130(4), pages 1091-1144.
    7. Stephanie Blankenburg & Richard Arena & Frank Wilkinson, 2012. "Piero Sraffa and 'the true object of economics': the role of the unpublished manuscripts," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 36(6), pages 1267-1290.
    8. Sergio Cesaratto, 2020. "Heterodox Challenges in Economics," Springer Books, Springer, number 978-3-030-54448-5, June.
    9. Posner, Richard A, 1980. "A Theory of Primitive Society, with Special Reference to Law," Journal of Law and Economics, University of Chicago Press, vol. 23(1), pages 1-53, April.
    10. Garegnani, Pierangelo, 1984. "Value and Distribution in the Classical Economists and Marx," Oxford Economic Papers, Oxford University Press, vol. 36(2), pages 291-325, June.
    11. Richard Arena, 2013. "Sraffa's and Wittgenstein's Crossed Influences: Forms of Life and Snapshots," GREDEG Working Papers 2013-06, Groupe de REcherche en Droit, Economie, Gestion (GREDEG CNRS), Université Côte d'Azur, France.
    12. Serge Svizzero & Clement Allan Tisdell, 2016. "Economic evolution, diversity of societies and stages of economic development: A critique of theories applied to hunters and gatherers and their successors," Post-Print hal-02147753, HAL.
    13. Serge Svizzero & Clement A. Tisdell & Duncan Watson, 2016. "Economic evolution, diversity of societies and stages of economic development: A critique of theories applied to hunters and gatherers and their successors," Cogent Economics & Finance, Taylor & Francis Journals, vol. 4(1), pages 1161322-116, December.
    14. Jérôme Maucourant, 2012. "New Institutional Economics and History," Journal of Economic Issues, Taylor & Francis Journals, vol. 46(1), pages 193-208.
    15. Sergio Cesaratto & Stefano Di Bucchianico, 2021. "The Surplus Approach, Institutions, And Economic Formations," Contributions to Political Economy, Cambridge Political Economy Society, vol. 40(1), pages 26-52.
    16. Sergio Cesaratto, 2019. "Heterodox economics and Economic Anthropology: reflections prompted by two books," Department of Economics University of Siena 807, Department of Economics, University of Siena.
    17. Jérôme Maucourant, 2012. "New institutional economics and history," Post-Print halshs-00681801, HAL.
    18. Serge Svizzero, 2017. "Persistent Controversies about the Neolithic Revolution," Post-Print hal-02145483, HAL.
    19. Christopher Morehart, 2014. "The Potentiality and the Consequences of Surplus: Agricultural Production and Institutional Transformation in the Northern Basin of Mexico," Economic Anthropology, Wiley Blackwell, vol. 1(1), pages 154-166, January.
    20. Hodgson, Geoffrey M., 2017. "Introduction to the Douglass C. North memorial issue," Journal of Institutional Economics, Cambridge University Press, vol. 13(1), pages 1-23, March.
    21. Richard Arena, 2013. "Sraffa’s and Wittgenstein’s Reciprocal Influences: Forms of Life and Snapshots," Palgrave Macmillan Books, in: Enrico Sergio Levrero & Antonella Palumbo & Antonella Stirati (ed.), Sraffa and the Reconstruction of Economic Theory: Volume Three, chapter 4, pages 84-105, Palgrave Macmillan.
    22. John Adams, 1991. "Surplus, Surplus, Who’s Got the Surplus? The Subtractivist Fallacy in Orthodox Economics," Journal of Economic Issues, Taylor & Francis Journals, vol. 25(1), pages 187-197, March.
    23. Richard Arena, 2015. "The Role Of Technical And Social Factors In The Distinction Between Necessaries And Surplus: Classical Economics After Sraffa," Cahiers d’économie politique / Papers in Political Economy, L'Harmattan, issue 69, pages 185-202.
    Full references (including those not matched with items on IDEAS)

    Citations

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


    Cited by:

    1. Cesaratto, Sergio, 2023. "Schools of Athens: Surplus Approach, Marxism and Institutions," Centro Sraffa Working Papers CSWP62, Centro di Ricerche e Documentazione "Piero Sraffa".

    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. Sergio Cesaratto & Stefano Di Bucchianico, 2021. "The Surplus Approach, the Polanyian Tradition, and Institutions in Economic Anthropology and Archaeology," Annals of the Fondazione Luigi Einaudi. An Interdisciplinary Journal of Economics, History and Political Science, Fondazione Luigi Einaudi, Torino (Italy), vol. 55(1), pages 185-216, June.
    2. Sergio Cesaratto & Stefano Di Bucchianico, 2020. "The surplus approach, Polanyi and institutions in economic anthropology and archaeology," Department of Economics University of Siena 828, Department of Economics, University of Siena.
    3. Sergio Cesaratto, 2019. "Heterodox economics and Economic Anthropology: reflections prompted by two books," Department of Economics University of Siena 807, Department of Economics, University of Siena.
    4. Clement Tisdell & Serge Svizzero, 2020. "The Ability in Antiquity of Some Agrarian Societies to Avoid the Malthusian Trap and Develop," Forum for Social Economics, Taylor & Francis Journals, vol. 49(2), pages 202-227, April.
    5. Svizzero, Serge & Tisdell, Clem, 2014. "Inequality and Wealth Creation in Ancient History: Malthus' Theory Reconsidered," Economic Theory, Applications and Issues Working Papers 183285, University of Queensland, School of Economics.
    6. Ochrana František, 2022. "Historical-evolutionary and Retrograde Approach to the Study of Social Phenomena and Public Administration," NISPAcee Journal of Public Administration and Policy, Sciendo, vol. 15(2), pages 1-24, December.
    7. Frederic Lee & Tae-Hee Jo, 2011. "Social Surplus Approach and Heterodox Economics," Journal of Economic Issues, Taylor & Francis Journals, vol. 45(4), pages 857-876.
    8. Jérôme Maucourant, 2012. "Nouvelle économie institutionnelle ou socioéconomie des institutions ?," Post-Print halshs-00804622, HAL.
    9. Sergio Cesaratto & Stefano di Bucchianico, 2020. "Endogenous money and the theory of long-period effective demand," Bulletin of Political Economy, Bulletin of Political Economy, vol. 14(1), pages 1-38, June.
    10. Amin, Saqib & Mehmood, Waqas & Sharif, Arshian, 2022. "Blessing or curse: The role of diversity matters in stimulating or relegating environmental sustainability—a global perspective via renewable and non-renewable energy," Renewable Energy, Elsevier, vol. 189(C), pages 927-937.
    11. Nawaz Ahmad & Saqib Amin, 2020. "Does ethnic polarization stimulate or relegate trade and environmental performance? A global perspective," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 22(7), pages 6513-6536, October.
    12. Cesaratto, Sergio, 2023. "Schools of Athens: Surplus Approach, Marxism and Institutions," Centro Sraffa Working Papers CSWP62, Centro di Ricerche e Documentazione "Piero Sraffa".
    13. Stefano Di Bucchianico & Federica Cappelli, 2021. "Exploring the theoretical link between profitability and luxury emissions," Working Papers PKWP2114, Post Keynesian Economics Society (PKES).
    14. Lowe, Benjamin H. & Genovese, Andrea, 2022. "What theories of value (could) underpin our circular futures?," Ecological Economics, Elsevier, vol. 195(C).
    15. repec:spo:wpecon:info:hdl:2441/2241 is not listed on IDEAS
    16. Leonardo Monasterio, 2011. "The Regional Inequality Frontier: Brazil (1872-2000)," ERSA conference papers ersa10p353, European Regional Science Association.
    17. He, Quqiong & Pan, Ying & Sarangi, Sudipta, 2018. "Lineage-based heterogeneity and cooperative behavior in rural China," Journal of Comparative Economics, Elsevier, vol. 46(1), pages 248-269.
    18. Peter T. Leeson, 2013. "Vermin Trials," Journal of Law and Economics, University of Chicago Press, vol. 56(3), pages 811-836.
    19. Rossi, Enrico, 2020. "Reconsidering the dual nature of property rights: personal property and capital in the law and economics of property rights," LSE Research Online Documents on Economics 105840, London School of Economics and Political Science, LSE Library.
    20. Bellino, Enrico & Nerozzi, Sebastiano, 2013. "Causality and interdependence in Pasinetti's works and in the modern classical approach," MPRA Paper 52179, University Library of Munich, Germany.
    21. Modalsli, Jørgen, 2011. "Inequality and growth in the very long run: inferring inequality from data on social groups," Memorandum 11/2011, Oslo University, Department of Economics.

    More about this item

    Keywords

    Surplus; Economic History; Institutions; Marx; Sraffa; Polanyi;
    All these keywords.

    JEL classification:

    • A12 - General Economics and Teaching - - General Economics - - - Relation of Economics to Other Disciplines
    • B51 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Socialist; Marxian; Sraffian
    • B52 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Historical; Institutional; Evolutionary; Modern Monetary Theory;

    NEP fields

    This paper has been announced in the following NEP Reports:

    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:ris:sraffa:0061. 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: Saverio M. Fratini (email available below). General contact details of provider: https://edirc.repec.org/data/sraffit.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.