6533b863fe1ef96bd12c77f2
RESEARCH PRODUCT
On the limits to the long-period method in classical economics. A note
Rodolfo Signorinosubject
Classical theoryProduction theoryReturns to scalebusiness.industrymedia_common.quotation_subjectEconomics Econometrics and Finance (miscellaneous)Distribution (economics)long-period method classical economics theory of valueExtension (metaphysics)Settore SECS-P/04 - Storia Del Pensiero EconomicoReading (process)Long periodPolitical Science and International RelationsValue (economics)EconomicsbusinessMathematical economicsmedia_commondescription
On a first reading of Theory of Production, Kurz & Salvadori (1995) appear to confine the empirical domain of the long-period models of the classical theory of value and distribution to stationary economies with non-constant returns to scale and to growing economies with constant returns to scale. Such a reading is shown to be untenable since it merges the two levels of exploring the extension of a model and of testing a theoretical hypothesis. Conversely, the way Kurz & Salvadori tackle the problems of price dynamics and returns to scale in growing economies is shown to be compatible with what appears to be Sraffa's (implicit) strategy of research.
| year | journal | country | edition | language |
|---|---|---|---|---|
| 2001-04-01 |