This paper has two goals. First, it seeks to show a logical inconsistency in Sraffian theory. The theory, it is argued, is conceived as a long-period approach but is unable to identify a long-period position. Second, the paper tries to show that even if we drop some of the building blocks of Sraffian theory, it is still possible to build a coherent alternative to neoclassical theory using (some of) the ideas of the classical economists. It suggests we put the indefensible long-period method to one side, and build short-period equilibrium models with probabilistic prices.

Will the Classical-type Approach Survive Sraffian Theory?

D'ORLANDO, Fabio
2005-01-01

Abstract

This paper has two goals. First, it seeks to show a logical inconsistency in Sraffian theory. The theory, it is argued, is conceived as a long-period approach but is unable to identify a long-period position. Second, the paper tries to show that even if we drop some of the building blocks of Sraffian theory, it is still possible to build a coherent alternative to neoclassical theory using (some of) the ideas of the classical economists. It suggests we put the indefensible long-period method to one side, and build short-period equilibrium models with probabilistic prices.
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Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/11580/7474
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