Sraffa and the Labour Theory of Value: a note
Autor(a) principal: | |
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Data de Publicação: | 2019 |
Tipo de documento: | Artigo |
Idioma: | eng |
Título da fonte: | Revista de Economia Política |
Texto Completo: | http://old.scielo.br/scielo.php?script=sci_arttext&pid=S0101-31572019000400614 |
Resumo: | ABSTRACT The author seeks to demonstrate that the price system proposed by Piero Sraffa in his major work Production of Commodities by Means of Commodities - Prelude to a Critique of Economic Theory is compatible with both David Ricardo and Karl Marx’s labour embodied theory of value and with Adam Smith’s labour-commanded theory of value. In reality, Sraffa’s measure of prices, the Standard Commodity, satisfies rigorously the mathematical condition of invariability in relation to income distribution between wages and profits. In this sense, it offers a consistent solution to the transformation problem of embodied labour values into production prices. Besides, the Standard ratio or the maximum rate of profits R can be used to analyse the evolution of the three major types or forms of technical progress in a capitalist economy, as follows: labour-using, neutral and capital-using techniques. |
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Sraffa and the Labour Theory of Value: a noteLabour valuespricesincome distributionclassical and Marxian economic theoriesstandard commoditytechnical progressrentinterest rateABSTRACT The author seeks to demonstrate that the price system proposed by Piero Sraffa in his major work Production of Commodities by Means of Commodities - Prelude to a Critique of Economic Theory is compatible with both David Ricardo and Karl Marx’s labour embodied theory of value and with Adam Smith’s labour-commanded theory of value. In reality, Sraffa’s measure of prices, the Standard Commodity, satisfies rigorously the mathematical condition of invariability in relation to income distribution between wages and profits. In this sense, it offers a consistent solution to the transformation problem of embodied labour values into production prices. Besides, the Standard ratio or the maximum rate of profits R can be used to analyse the evolution of the three major types or forms of technical progress in a capitalist economy, as follows: labour-using, neutral and capital-using techniques.Centro de Economia Política2019-12-01info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersiontext/htmlhttp://old.scielo.br/scielo.php?script=sci_arttext&pid=S0101-31572019000400614Brazilian Journal of Political Economy v.39 n.4 2019reponame:Revista de Economia Políticainstname:EDITORA 34instacron:EDITORA_3410.1590/0101-31572019-2859info:eu-repo/semantics/openAccessARAUJO,FABIO ANDERAOS DEeng2019-10-14T00:00:00Zoai:scielo:S0101-31572019000400614Revistahttps://centrodeeconomiapolitica.org.br/repojs/index.php/journalONGhttps://centrodeeconomiapolitica.org.br/repojs/index.php/journal/oai||cecilia.heise@bjpe.org.br1809-45380101-3157opendoar:2019-10-14T00:00Revista de Economia Política - EDITORA 34false |
dc.title.none.fl_str_mv |
Sraffa and the Labour Theory of Value: a note |
title |
Sraffa and the Labour Theory of Value: a note |
spellingShingle |
Sraffa and the Labour Theory of Value: a note ARAUJO,FABIO ANDERAOS DE Labour values prices income distribution classical and Marxian economic theories standard commodity technical progress rent interest rate |
title_short |
Sraffa and the Labour Theory of Value: a note |
title_full |
Sraffa and the Labour Theory of Value: a note |
title_fullStr |
Sraffa and the Labour Theory of Value: a note |
title_full_unstemmed |
Sraffa and the Labour Theory of Value: a note |
title_sort |
Sraffa and the Labour Theory of Value: a note |
author |
ARAUJO,FABIO ANDERAOS DE |
author_facet |
ARAUJO,FABIO ANDERAOS DE |
author_role |
author |
dc.contributor.author.fl_str_mv |
ARAUJO,FABIO ANDERAOS DE |
dc.subject.por.fl_str_mv |
Labour values prices income distribution classical and Marxian economic theories standard commodity technical progress rent interest rate |
topic |
Labour values prices income distribution classical and Marxian economic theories standard commodity technical progress rent interest rate |
description |
ABSTRACT The author seeks to demonstrate that the price system proposed by Piero Sraffa in his major work Production of Commodities by Means of Commodities - Prelude to a Critique of Economic Theory is compatible with both David Ricardo and Karl Marx’s labour embodied theory of value and with Adam Smith’s labour-commanded theory of value. In reality, Sraffa’s measure of prices, the Standard Commodity, satisfies rigorously the mathematical condition of invariability in relation to income distribution between wages and profits. In this sense, it offers a consistent solution to the transformation problem of embodied labour values into production prices. Besides, the Standard ratio or the maximum rate of profits R can be used to analyse the evolution of the three major types or forms of technical progress in a capitalist economy, as follows: labour-using, neutral and capital-using techniques. |
publishDate |
2019 |
dc.date.none.fl_str_mv |
2019-12-01 |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://old.scielo.br/scielo.php?script=sci_arttext&pid=S0101-31572019000400614 |
url |
http://old.scielo.br/scielo.php?script=sci_arttext&pid=S0101-31572019000400614 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.relation.none.fl_str_mv |
10.1590/0101-31572019-2859 |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
text/html |
dc.publisher.none.fl_str_mv |
Centro de Economia Política |
publisher.none.fl_str_mv |
Centro de Economia Política |
dc.source.none.fl_str_mv |
Brazilian Journal of Political Economy v.39 n.4 2019 reponame:Revista de Economia Política instname:EDITORA 34 instacron:EDITORA_34 |
instname_str |
EDITORA 34 |
instacron_str |
EDITORA_34 |
institution |
EDITORA_34 |
reponame_str |
Revista de Economia Política |
collection |
Revista de Economia Política |
repository.name.fl_str_mv |
Revista de Economia Política - EDITORA 34 |
repository.mail.fl_str_mv |
||cecilia.heise@bjpe.org.br |
_version_ |
1754122482205327360 |