Tags: piero sraffa

Can Lachmann’s Arbitrage Save the Austrian Theory of the Interest Rate?

This is the second part of my criticism of Glasner and Zimmerman’s paper. The first part can be found here and should be read and understood before proceeding with the second part. more »

Glasner and Zimmerman on the Sraffa-Hayek Bust-Up and the Natural Rate of Interest

David Glasner from over at the blog Uneasy Money has co-written an interesting paper on Sraffa and his critique of the natural rate of interest as it was put forward in Hayek’s business cycle theory. There is a lot that might be written about this paper as I believe that the debate has much contemporary relevance. more »

A Theory of Consumption and Speculation to Round Out Sraffa’s Theory of Production

August 4th, 2017
in history, macroeconomics

The other day I discussed the fundamental differences between the Sraffian and the marginalist systems. Since then I was perusing Sraffa’s Production of Commodities By Means of Commodities (full PDF available here). more »












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