I finally watched Production of Commodities at 60. Our host and moderator is Matias Vernengo. Seminar participants are Franklin Serrano, Antonella Palumbo, and Ed Nell, who
present in that order. They take questions at the end.
I cannot recall who made these points; they generally agreed. But here are some I noted. Sraffa is not only about an
internal critique of marginalist theory, but a setting out of an alternative theory. This is a rediscovery of the classical
theory of value.
Sraffa’s theory is not restricted to perfect competition. Paul Sweezy was wrong to think that the advent of monopoly
capitalism meant that only qualitative assertions could be made about value.
Ed Nell talks about linear programming, as contrasted to prices that support theRead More »