Abstract
According to the preface of Production of Commodities by Means of Commodities (1960), ‘no changes in output’ are considered in Sraffa’s model and, according to Section 4, the rate of profit ‘must be uniform for all industries’.1 Sraffa’s formalisation and ideas have now been studied for more than 50 years and have inspired a huge branch of literature which attempts to extend his basic model and to combine it with other economic ideas endorsed by the Classicals. For instance, many contemporary models deal with steady growth (the rates of accumulation are uniform among industries); others analyse the ‘gravitation process’ mentioned by Smith and Ricardo and wonder if the market prices, which generate differentiated rates of profit, do cycle around (or converge towards) natural prices.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Preview
Unable to display preview. Download preview PDF.
Similar content being viewed by others
References
Benetti, C., Bidard, Ch. and Klimovsky, E. (2007) ‘Classical dynamics of disequilibrium’, Cambridge Journal of Economics, 31(1): 41–54.
Benetti, C., Bidard, Ch. and Klimovsky, E. (2008) ‘Reproduction prices: equilibrium and disequilibrium in a classical model’, Bulletin of Political Economy, 2(1): 25–41.
Bidard, Ch. and Klimovsky, E. (2006) Capital, salaire et crises — une approche classique (Paris: Dunod).
de Vivo, G. (1986) ‘Torrens on value and distribution’, Contributions to Political Economy, 5: 23–36.
Garegnani, P. (2007) ‘Professor Samuelson on Sraffa and the Classical economists’, European Journal of the History of Economic Thought, 14(2): 181–242.
Klimovsky, E. (2006) ‘Tasas de ganancia, acumulaciόn, producciόn y circulaciόn: los conceptos básicos de la teoría clásica del valor’, Cuadernos de Economía, XXV(44): 33–55 (Bogotá, Colombia).
Ricardo, D. (1815) ‘Essay on the Influence of a Low Price of Corn on the Profits of Stock’, in Sraffa (ed.) (1951), The Works and Correspondence of David Ricardo, Vol. IV (Cambridge: Cambridge University Press): pp. 9–41.
Sraffa, P. (1960) Production of Commodities by Means of Commodities (Cambridge: Cambridge University Press).
Torrens, R. (1821) An Essay on the Production of Wealth, repr. J. Dorfman (ed.) (1965) (New York: A.M. Kelley).
Editor information
Editors and Affiliations
Copyright information
© 2013 Carlo Benetti, Christian Bidard and Edith Klimovsky
About this chapter
Cite this chapter
Benetti, C., Bidard, C., Klimovsky, E. (2013). Disequilibrium and Reproduction Prices: Some Extensions of Sraffa’s Model. In: Levrero, E.S., Palumbo, A., Stirati, A. (eds) Sraffa and the Reconstruction of Economic Theory: Volume Three. Palgrave Macmillan, London. https://doi.org/10.1057/9781137314048_7
Download citation
DOI: https://doi.org/10.1057/9781137314048_7
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-34705-6
Online ISBN: 978-1-137-31404-8
eBook Packages: Palgrave Economics & Finance CollectionEconomics and Finance (R0)