Pub Date : 1998-09-01DOI: 10.1080/10427719800000046
T. Negishi
After a brief survey of the Japanese literature on Sraffa, the author explains how his own theory of the microfoundations of Keynesian macro-economics was influenced by Sraff's view of competitive markets. This view can be interpreted that firms perceive kinked demand curves. It is emphasized that Azariadis's theory of implicit contracts can explain unemployment only if we take Sraffa's not Walras's, view of competitive market.
{"title":"Sraffa and the microfoundations of Keynes","authors":"T. Negishi","doi":"10.1080/10427719800000046","DOIUrl":"https://doi.org/10.1080/10427719800000046","url":null,"abstract":"After a brief survey of the Japanese literature on Sraffa, the author explains how his own theory of the microfoundations of Keynesian macro-economics was influenced by Sraff's view of competitive markets. This view can be interpreted that firms perceive kinked demand curves. It is emphasized that Azariadis's theory of implicit contracts can explain unemployment only if we take Sraffa's not Walras's, view of competitive market.","PeriodicalId":51791,"journal":{"name":"European Journal of the History of Economic Thought","volume":"5 1","pages":"452-457"},"PeriodicalIF":0.7,"publicationDate":"1998-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/10427719800000046","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"59610860","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1998-09-01DOI: 10.1080/10427719800000047
P. Samuelson
Sraffa is lauded for (a) his magnificent editing of Ricardo's writings and (b) his 1960 classic on Production of Commodities by Means of Commodities. Regretted is the shortfall from his unlimited potential to his sparse bibliography of publications and oral lecturing, and his diffidence as an editor to interpret and criticize his classical heroes. Admired by Keynes and Wittgenstein and friend to the Marxist Antonio Gramsci, Piero was a much loved character. Because of, and not in spite of, the fact that he early lacked sympathy for the general equilibrium methodology and the mixed-economy ideology that dominated twentieth century mainstream economics, Sraffa was able to uniquely add value to the corpus of economic science.
{"title":"Report card on Sraffa at 100","authors":"P. Samuelson","doi":"10.1080/10427719800000047","DOIUrl":"https://doi.org/10.1080/10427719800000047","url":null,"abstract":"Sraffa is lauded for (a) his magnificent editing of Ricardo's writings and (b) his 1960 classic on Production of Commodities by Means of Commodities. Regretted is the shortfall from his unlimited potential to his sparse bibliography of publications and oral lecturing, and his diffidence as an editor to interpret and criticize his classical heroes. Admired by Keynes and Wittgenstein and friend to the Marxist Antonio Gramsci, Piero was a much loved character. Because of, and not in spite of, the fact that he early lacked sympathy for the general equilibrium methodology and the mixed-economy ideology that dominated twentieth century mainstream economics, Sraffa was able to uniquely add value to the corpus of economic science.","PeriodicalId":51791,"journal":{"name":"European Journal of the History of Economic Thought","volume":"5 1","pages":"458-467"},"PeriodicalIF":0.7,"publicationDate":"1998-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/10427719800000047","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"59610868","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1998-09-01DOI: 10.1080/10427719800000045
H. Kurz
The paper throws some new light on Sraffa's contribution, using material from his yet unpublished papers. Attention focuses on Sraffa's rediscovery of the distinct character of the classical theory of value and distribution and his refutation of the Marshallian interpretation that it is only a special case of demand and supply theory, his reformulation of the classical theory, and his criticism of the alternative neoclassical theory.
{"title":"Against the current: Sraffa's unpublished manuscripts and the history of economic thought","authors":"H. Kurz","doi":"10.1080/10427719800000045","DOIUrl":"https://doi.org/10.1080/10427719800000045","url":null,"abstract":"The paper throws some new light on Sraffa's contribution, using material from his yet unpublished papers. Attention focuses on Sraffa's rediscovery of the distinct character of the classical theory of value and distribution and his refutation of the Marshallian interpretation that it is only a special case of demand and supply theory, his reformulation of the classical theory, and his criticism of the alternative neoclassical theory.","PeriodicalId":51791,"journal":{"name":"European Journal of the History of Economic Thought","volume":"5 1","pages":"437-451"},"PeriodicalIF":0.7,"publicationDate":"1998-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/10427719800000045","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"59610848","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1998-09-01DOI: 10.1080/10427719800000048
B. Schefold
Piero Sraffa took thirteen years to publish the General Indexto The Works and Correspondence of David Ricardo.The Index is compared to others and is shown to be exceptional in that it leads the way to specific interpretations of Ricardo's life and theory. The choice of entries referring to theory is based on Ricardo's own concepts and carefully avoids neoricardian, Marxian and neoclassical terms. Examples discussed concern 'comparative advantage' and 'value' The entries referring to Ricardo's life are proof of Sraffa's broad historical interests and focus on certain characteristics of Ricardo.
{"title":"Reading Sraffa's Indices - a note","authors":"B. Schefold","doi":"10.1080/10427719800000048","DOIUrl":"https://doi.org/10.1080/10427719800000048","url":null,"abstract":"Piero Sraffa took thirteen years to publish the General Indexto The Works and Correspondence of David Ricardo.The Index is compared to others and is shown to be exceptional in that it leads the way to specific interpretations of Ricardo's life and theory. The choice of entries referring to theory is based on Ricardo's own concepts and carefully avoids neoricardian, Marxian and neoclassical terms. Examples discussed concern 'comparative advantage' and 'value' The entries referring to Ricardo's life are proof of Sraffa's broad historical interests and focus on certain characteristics of Ricardo.","PeriodicalId":51791,"journal":{"name":"European Journal of the History of Economic Thought","volume":"1 1","pages":"468-479"},"PeriodicalIF":0.7,"publicationDate":"1998-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/10427719800000048","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"59610415","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1998-09-01DOI: 10.1080/10427719800000049
M. Cassidy
This paper introduces a previously unpublished manuscript of the Banking School writer John Fullarton. Despite his importance as a monetary theorist nothing is known of the development of Fullarton's monetary thought. The manuscript published here was written by Fullarton in India in 1836 in response to a proposal for the establishment of a Bank of India. It is an important discovery, not only because it is the first known economic work of one of the nineteenth century's most important writers on money and banking but also because it shows that Fullarton had developed views consistent with his later Banking School theory much earlier than previously believed.
{"title":"John Fullarton's 'Response to a proposal for a Bank of India'","authors":"M. Cassidy","doi":"10.1080/10427719800000049","DOIUrl":"https://doi.org/10.1080/10427719800000049","url":null,"abstract":"This paper introduces a previously unpublished manuscript of the Banking School writer John Fullarton. Despite his importance as a monetary theorist nothing is known of the development of Fullarton's monetary thought. The manuscript published here was written by Fullarton in India in 1836 in response to a proposal for the establishment of a Bank of India. It is an important discovery, not only because it is the first known economic work of one of the nineteenth century's most important writers on money and banking but also because it shows that Fullarton had developed views consistent with his later Banking School theory much earlier than previously believed.","PeriodicalId":51791,"journal":{"name":"European Journal of the History of Economic Thought","volume":"5 1","pages":"480-508"},"PeriodicalIF":0.7,"publicationDate":"1998-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/10427719800000049","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"59610433","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1998-09-01DOI: 10.1080/10427719800000044
S. Hollander
Several features of Piero Sraffa' Production of Commodities are attributed to David Ricardo by Sraffa himself and by 'neo-Ricardians' generally. I have questioned elsewhere the Sraffian understanding of Ricardo. Assuming this challenge to be justified, the question arises how Sraffa may have erred. I approach the problem by asking: (i) whether his reading can only be rationalized in post-Marxian terms; and (ii) how he arrived at his reading. I conclude that Sraffa did read Ricardo in Marxian fashion; but that all the relevant Sraffian features are to be found in Ricardo though only within a narrowly restricted range of texts.
{"title":"Sraffa in historiographical perspective: a provisional statement","authors":"S. Hollander","doi":"10.1080/10427719800000044","DOIUrl":"https://doi.org/10.1080/10427719800000044","url":null,"abstract":"Several features of Piero Sraffa' Production of Commodities are attributed to David Ricardo by Sraffa himself and by 'neo-Ricardians' generally. I have questioned elsewhere the Sraffian understanding of Ricardo. Assuming this challenge to be justified, the question arises how Sraffa may have erred. I approach the problem by asking: (i) whether his reading can only be rationalized in post-Marxian terms; and (ii) how he arrived at his reading. I conclude that Sraffa did read Ricardo in Marxian fashion; but that all the relevant Sraffian features are to be found in Ricardo though only within a narrowly restricted range of texts.","PeriodicalId":51791,"journal":{"name":"European Journal of the History of Economic Thought","volume":"5 1","pages":"430-436"},"PeriodicalIF":0.7,"publicationDate":"1998-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/10427719800000044","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"59610809","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1998-06-01DOI: 10.1080/10427719800000019
P. Steiner
The present paper establishes a general picture of Say's economic thought. The first part provides a general view of Say's writings stressing his economic publications other than the Traite, and the non-economic publications covering two other realms of what was labelled the Sciences morales et politiques in France at that time. The second part is devoted to the Traite since this theoretical piece belonging to Classical political economy has a history throughout its various editions. Finally, the third part considers Say's second great book in economics, the Cours complet d'eeconomie politique pratique and explains the reasons why he wrote it.
{"title":"The structure of Say's economic writings","authors":"P. Steiner","doi":"10.1080/10427719800000019","DOIUrl":"https://doi.org/10.1080/10427719800000019","url":null,"abstract":"The present paper establishes a general picture of Say's economic thought. The first part provides a general view of Say's writings stressing his economic publications other than the Traite, and the non-economic publications covering two other realms of what was labelled the Sciences morales et politiques in France at that time. The second part is devoted to the Traite since this theoretical piece belonging to Classical political economy has a history throughout its various editions. Finally, the third part considers Say's second great book in economics, the Cours complet d'eeconomie politique pratique and explains the reasons why he wrote it.","PeriodicalId":51791,"journal":{"name":"European Journal of the History of Economic Thought","volume":"5 1","pages":"227-249"},"PeriodicalIF":0.7,"publicationDate":"1998-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/10427719800000019","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"59610664","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1998-06-01DOI: 10.1080/10427719800000020
A. Cohen
Contemporary scholars consider the banking legislation of the first half of the nineteenth century, to have inhibited the development of British industry, However, some doubts about this conception should have arisen due to Richard Cobden's stance on the currency question in general and on the Bank Charter Act of 1844 in particular. Cobden, who is usually viewed as a representative of industrial interests, was expected to oppose the Bank Act. However, he did not. This paper attempts to show how can Cobden's views regarding monetary policy be reconciled with his stand as one of the most prominent leaders of industry at the time.
{"title":"Cobden's stance on the currency and the political forces behind the approval of the Bank Charter Act of 1844","authors":"A. Cohen","doi":"10.1080/10427719800000020","DOIUrl":"https://doi.org/10.1080/10427719800000020","url":null,"abstract":"Contemporary scholars consider the banking legislation of the first half of the nineteenth century, to have inhibited the development of British industry, However, some doubts about this conception should have arisen due to Richard Cobden's stance on the currency question in general and on the Bank Charter Act of 1844 in particular. Cobden, who is usually viewed as a representative of industrial interests, was expected to oppose the Bank Act. However, he did not. This paper attempts to show how can Cobden's views regarding monetary policy be reconciled with his stand as one of the most prominent leaders of industry at the time.","PeriodicalId":51791,"journal":{"name":"European Journal of the History of Economic Thought","volume":"5 1","pages":"250-275"},"PeriodicalIF":0.7,"publicationDate":"1998-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/10427719800000020","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"59610702","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1998-06-01DOI: 10.1080/10427719800000021
E. Feess
Ricardo's theory of value and distribution is reconstructed by proceeding along the lines of Marx's critique of Ricardo. It is thus an anti-critique of Marx's reading of Ricardo. The chapter 'On Value' in Ricardo's Principles is shown to be a consistent and rigorous treatment of the determinants of prices of production. According to Ricardo labor-values merely serve to approximate more elaborate standards of value. Marx's criticism is shown to rest crucially on his own misinterpretation of Ricardo's definitions and presupposes his own - faulty - theory of surplus value. Therefore Ricardo's theory can - contrary to Marx's theory of surplus value - still be regarded as a fruitful complement to Sraffa's model.
{"title":"Marx on Ricardo: an explanation of some important misunderstandings","authors":"E. Feess","doi":"10.1080/10427719800000021","DOIUrl":"https://doi.org/10.1080/10427719800000021","url":null,"abstract":"Ricardo's theory of value and distribution is reconstructed by proceeding along the lines of Marx's critique of Ricardo. It is thus an anti-critique of Marx's reading of Ricardo. The chapter 'On Value' in Ricardo's Principles is shown to be a consistent and rigorous treatment of the determinants of prices of production. According to Ricardo labor-values merely serve to approximate more elaborate standards of value. Marx's criticism is shown to rest crucially on his own misinterpretation of Ricardo's definitions and presupposes his own - faulty - theory of surplus value. Therefore Ricardo's theory can - contrary to Marx's theory of surplus value - still be regarded as a fruitful complement to Sraffa's model.","PeriodicalId":51791,"journal":{"name":"European Journal of the History of Economic Thought","volume":"5 1","pages":"276-291"},"PeriodicalIF":0.7,"publicationDate":"1998-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/10427719800000021","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"59610714","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1998-06-01DOI: 10.1080/10427719800000022
H. Hagemann, Hans‐Michael Trautwein
The distinctive line of argument in Hayek' business cycle theory can be characterized as a combination of the Cantillon effect monetary expansion on the price structure and the Ricardo effect of a shortage of consumption goods on the production of investment goods. This paper compares the original ideas of Cantillon and Ricardo with their adaptation and combination by Hayek. The differences help to expose fundamental problems in Hayek' theory and, more generally, in projects of integrating money and the business-cycle phenomenon with Walrasian general equilibrium theory.
{"title":"Cantillon and Ricardo effects: Hayek's contributions to business cycle theory","authors":"H. Hagemann, Hans‐Michael Trautwein","doi":"10.1080/10427719800000022","DOIUrl":"https://doi.org/10.1080/10427719800000022","url":null,"abstract":"The distinctive line of argument in Hayek' business cycle theory can be characterized as a combination of the Cantillon effect monetary expansion on the price structure and the Ricardo effect of a shortage of consumption goods on the production of investment goods. This paper compares the original ideas of Cantillon and Ricardo with their adaptation and combination by Hayek. The differences help to expose fundamental problems in Hayek' theory and, more generally, in projects of integrating money and the business-cycle phenomenon with Walrasian general equilibrium theory.","PeriodicalId":51791,"journal":{"name":"European Journal of the History of Economic Thought","volume":"5 1","pages":"292-316"},"PeriodicalIF":0.7,"publicationDate":"1998-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/10427719800000022","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"59610750","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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