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Home / Tag Archives: Criticisms of Sraffian Economics

Tag Archives: Criticisms of Sraffian Economics

On Milana’s Purported Solution To The Reswitching Paradox

Carlo Milana has posted a paper on arXiv. I was prepared to accept this paper's claims. Economists have developed price theory. Referring to Sraffian "paradoxes" and "perverse" switch points is a matter of speaking. There does not exist separate Sraffian and neoclassical versions of price theory. For a result to be "perverse", it need only contradict outdated neoclassical intuition. But it is as much a part of the mathematical economics as any other result. (It is another matter that much...

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“The Microeconomic Foundations of Aggregate Production Functions”

Figure 1: A Production Network I here comment on Baqaee and Farhi (2018). I am still trying to absorb it. I suppose that it is nice that an economist at Harvard is revisiting the Cambridge Capital Controversy (CCC). (Where is Michael Mandler these days?) My major criticism is they do not do what their title claims. That is, their supposed microeconomic foundations are still up in the air. In many CCC examples, technology is specified in terms of fixed-coefficient production processes....

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Catalog Of Neoclassical Responses To The Cambridge Capital Controversy

This is merely a list and, as usual, off the top of my head. Paul A. Samuelson (1966). A summing up. Quarterly Journal of Economics 80: 568-583. Mark Blaug (1975). The Cambridge revolution: Success of failure? A critical analysis of Cambridge theories of value and distribution. Institute of Economic Affairs. Joseph E. Stiglitz (1974). The Cambridge-Cambridge controversy on the theory of capital: A view from New Haven. Christopher J. Bliss (1975). Capital Theory and the Distribution of...

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