Mr. Sraffa on Joint Production and Other Essays

Half-title......Page 1
Title......Page 3
Copyright......Page 4
Contents......Page 5
Preface......Page 8
PART I  Introduction......Page 11
1 Sraffa’s First Critique......Page 12
2 Ricardo and the Surplus Approach......Page 14
3 Single-Product Sraffa Systems: Labour Values......Page 18
4 Single-Product Sraffa Systems: Prices......Page 22
5 Single Product Sraffa Systems: Movement of Relative Prices......Page 25
6 Single-Product Sraffa Systems: Basics and Non-Basics......Page 30
7 Single-Product Sraffa Systems: The Standard Commodity......Page 33
8 Single-Product Sraffa Systems: Reswitching......Page 36
9 Theory and History......Page 38
Note:......Page 42
10 The Problem of Value with Joint Production in a Classical Perspective......Page 43
Note:......Page 47
11 The Fundamental Principle of the Determination of Prices with Joint Production......Page 49
Note:......Page 53
12 The Main Questions to be Answered and the Limits of the Answers Given in this Book......Page 54
13 Summary of Results......Page 59
14 Notation and how to Get Started with Joint Production......Page 61
PART II Mr Sraffa on Joint Production......Page 63
Assumptions......Page 64
Prices and their normalization......Page 67
DEFINITION......Page 69
ALL-PRODUCTIVE SYSTEMS:......Page 70
Subsystems and Integrated Systems3......Page 71
Notes.......Page 72
2  The Concept of a Basic System......Page 73
Definition......Page 74
Theorem 2.1......Page 75
3  The Uniqueness of the Basic System......Page 79
PROOF (OF COROLLARY):......Page 82
PROOF:......Page 84
COROLLARY TO THEOREMS 3.1 AND 3.2......Page 87
COROLLARY:......Page 89
PROOF:......Page 90
4  Labour Values......Page 91
An Apparent Paradox (see PCMC, sec. 70)......Page 94
5  Distribution and the Standard Commodity......Page 95
6  Expansions of the Price Vector......Page 98
PROOF:......Page 99
7  Peculiarities of Joint-Production Systems: Existence of the Standard Commodity......Page 100
PROOF:......Page 102
8  All-productive and Related Systems......Page 103
9  The Standard Commodity and the Possibility of Balanced Growth......Page 106
Theorem 9.1......Page 107
NOTE:......Page 108
9a  Residual Commodities and Dispensable Processes......Page 109
9b  Balanced Growth and Truncation......Page 116
9c  Beyond the Golden Rule......Page 131
Theorem 9c.1......Page 133
Theorem 9c.3......Page 134
PROOF:......Page 135
Theorem 9c.4......Page 137
10  Graphic Techniques Method......Page 140
11  Applications......Page 152
PROOF:......Page 156
11a  Diagrams for Section 9b......Page 159
12  Definition of a Pure Fixed-Capital System......Page 163
Definition......Page 165
NOTE......Page 169
Theorem 13.1......Page 170
PROOF:......Page 171
Theorem 13.3......Page 173
PROOF:......Page 174
PROOF:......Page 176
COROLLARY:......Page 177
14  Price Movements of Finished Goods......Page 178
NOTE:......Page 180
PROOF:......Page 182
15  The Value of Machines......Page 183
Theorem 15.2......Page 185
PROOF:......Page 186
NOTE 2a:......Page 187
NOTE 2b:......Page 189
16  Efficiency and Age of Machines......Page 190
17  Perennial and Obsolete Machines in Long-Period and Short-Period Analysis......Page 192
18  Fixed Capital, Switching of Techniques and the von Neumann Model......Page 198
Theorem 18.1......Page 199
COROLLARY:......Page 200
Theorem 18.2a......Page 201
PROOF:......Page 202
18a  Fixed Capital and Truncation if gDefinition......Page 206
18b  Fixed Capital and Joint Production in a Growing Economy......Page 210
Definitions......Page 217
(I)  Differential Rent of the First Kind (DRI):......Page 219
(II)  Differential Rent of the Second Kind (DRII)......Page 222
Specialization......Page 225
Diversity......Page 229
19a  A Digression on International Trade......Page 230
19b A Digression on Exhaustible Resources1......Page 237
20  Effects of the Presence of Land on the Basic System......Page 251
20a  Differential Rent, Absolute Rent and the Choice of Techniques......Page 254
20b  Homogeneity and Heterogeneity of Capital, Land and Labour......Page 265
PART III Other Essays......Page 276
Essay 1 Production Costs in Neoclassical Theory......Page 277
Notes......Page 292
Essay 2 Ricardo......Page 294
Notes......Page 300
Essay 3 Critique of Neoclassical Theory......Page 301
Notes......Page 314
Essay 4 Sraffa and Marx......Page 317
Notes......Page 329
Essay 4a Sraffa and Marx: Some Reflections on the Homogeneity of Labour......Page 331
Essay 5 Distribution, Prices and Competition......Page 341
Notes......Page 348
Essay 6 Some Thoughts on the Foundation of Value in Sraffa and his Standard Commodity......Page 351
Notes......Page 376
Bibliography......Page 378
Index......Page 386