Prices and Quantities: Possible Solutions within a Post-classical Research Program

This article examines some controversial issues in the classical-type (Sraffian) long period theory; in particular it criticizes the idea according to which the assumption of given sectoral outputs should necessarily constitute the distinguishing feature of classical-type theories of prices and distribution. The main upshot of the argument is that the fundamental critique of logical inconsistency, that Sraffian authors have addressed to the Walrasian-type general equilibrium models with capital accumulation, applies also to Sraffa’s theory of prices when this latter is meant to portray a long period position of the economy. It is also suggested that the study of classical-type temporary positions should become part of the Sraffian research program.