The Classical Surplus Critique of Neoclassical Economics
Cuadernos de Economía, Vol. 27, No. 49, 2008
37 Pages Posted: 1 Jan 2010
Date Written: December 30, 2008
This paper briefly outlines some characteristics of the Sraffian critique of Neoclassical economic theory. The main goal is to highlight some important issues related to theoretical and logical errors of the mainstream theory, such as those arising from the debate over the theory of capital in Sraffa (1960), capital reversing, and re-switching techniques. The critique is not limited to the traditional neoclassical positions before 1939 (Hicks, “Value and Capital”), but also extends to the contemporary versions of general equilibrium à la Arrow-Debreu.
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Keywords: Sraffa, return, capital
JEL Classification: B59, D33, D59, D99, A20
Suggested Citation: Suggested Citation