0000000000464437
AUTHOR
R. Signorino
“Natural wages dynamics in a Ricardian growth model”
Ricardian growth models are generally built on the assumption of a constant natural wage. Such an assumption conceals the fact that classical economists were aware that in growing economies workers' normal pattern of consumption steadily rise both in terms of quantity and quality. In the first part of the chapter we gather some classical hints on the relationship between economic growth and natural wages in order to provide a rational reconstruction of the classical point of view on natural wage dynamics. In the second part of the chapter we propose a formal analysis of the dynamics of a Ricardian model with endogenous natural wage
“Piero Sraffa’s Lectures on the Advanced Theory of Value 1928 - 1931 and the rediscovery of the classical approach”
Sraffa's Lectures on the Advanced Theory of Value 1928–1931 and his two preparatory Notes of summer and November 1927 provide a wealth of material, up to now unpublished, for a reconstruction of the early stage of his inquiry into the cognate fields of pure economic theory and its history. The three manuscripts show that in the late 1920s Sraffa rejected the Marshallian constant-cost interpretation of classical economics, an interpretation to which he had adhered in his 1925 and 1926 papers. Moreover, in the Lectures, Sraffa presents for the first time his own interpretation of classical economics based on the concepts of surplus, physical real costs and asymmetric treatment of distributive…