Written on the occasion of the 50th anniversary of the
publication of Piero Sraffa's "Production of Commodities by Means
of Commodities," the papers selected and contained in "Sraffa and
the Reconstruction of Economic Theory" account for the work
completed around the two central aspects of his contribution to
economic analysis, namely the criticism of the neoclassical (or
marginalist) theory of value and distribution, and the
reconstruction of economic theory along the lines of the Classical
approach. Divided into three volumes, "Sraffa and the
Reconstruction of Economic Theory" debates the most fruitful routes
for advancement in this field and their implications for applied
and policy analysis.
This second volume focuses on the theory of output and growth as
developed in the modern classical approach on the basis of the
extension to the long run of the Keynesian principle of effective
demand, and on the implications of the revival of the classical
approach for policy analysis and for understanding the evolution of
the international economic order in the last few decades.
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