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Sraffa's Other Leg

Authors: Samuelson, Paul A;

Sraffa's Other Leg

Abstract

In a constant-returns-to-scale-technology sans joint products, relative goods and factor prices must in general depend competitively on the two legs of demand composition and cost-technology. Sraffa's 1926 classic article, besides validly contending the need for imperfect-competition paradigms in increasing-returns situations, wrongly emphasized the primacy of the special one-leg case of constant costs. Here it is shown that Sraffa's leitmotiv involved overstress on this nongeneric case: his 1925 Italian paper, his late-1920s exploration of input-output, his editing of the classical writings, and his 1960 classic book involve the same bias. Copyright 1991 by Royal Economic Society.

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Powered by OpenAIRE graph
Found an issue? Give us feedback
selected citations
These citations are derived from selected sources.
This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Citations provided by BIP!
popularity
This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.
BIP!Popularity provided by BIP!
influence
This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Influence provided by BIP!
impulse
This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.
BIP!Impulse provided by BIP!
21
Top 10%
Top 10%
Average
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