This chapter argues that the nature of the problem of determining prices and the uniform rate of profits of Sraffa's surplus producing system can be conceptually separated into his two simpler systems: corn-model and the subsistence economy. This clearly reveals that his solution of this problem...

This paper attempts to closely investigate the relationship between Ricardo's search for an invariable measure of value and Sraffa's Standard commodity on the one hand and Marx's transformation problem and his notion of exploitation on the other. The paper argues that Marx's notion of...

This article highlights some of Sraffa’s main contributions to the methodology of economics. It argues that Sraffa rejected counterfactual reasoning and hence the ‘marginal method’ of analysis. Sraffa’s theory is built solely on factual and objective information and...