The Legacy of Piero Sraffa (Hardcover)

It is generally acknowledged that Piero Sraffa was one of the most original and important economic theorists of the twentieth century. The significance of Sraffa's contributions lies in the fact that he elaborated an alternative to the marginalist theory of value and distribution rooted in the analyses of the classical political economists from Adam Smith to David Ricardo. This authoritative collection explores Piero Sraffa's contributions to economics. The volumes cover the discussions around Sraffa's criticism of the Marshallian partial equilibrium method; his attack on Hayek's monetary overinvestment theory of the business cycle; his edition of Ricardo's works and correspondence and his clarification of the analytical structure of the classical theory of value and distribution; his reformulation of the classical theory; and the role of his work in the debates about the theory of capital and income distribution.