This paper is a critical examination of the notion of equilibrium in the classical theory of value. It highlights the … theoretical importance as well as the problems associated with the notion of equilibrium in the classical theory and goes on to … argue that Sraffa presents a theory of value within the classical tradition that does not require a notion of equilibrium of …

This paper is a critical examination of the notion of equilibrium in the classical theory of value. It highlights the … theoretical importance as well as the problems associated with the notion of equilibrium in the classical theory and goes on to … argue that Sraffa presents a theory of value within the classical tradition that does not require a notion of equilibrium of …

Smith's “adding-up” approach to normal prices and distribution which incoporated Ricardo's theory of rent. The paper shows …

. If the definition and supposition are granted we can conclude that the theory of everyday action, such as walking or … chewing gum, is one and the same as the theory of evolution. The conclusion is definitely strange if not extraordinary. It is … conclusion is extraordinary only because it goes against the dominant dogmas in economics (i.e., neoclassical theory) and …

money and prices- like the quantity theory one. What is necessary and important is that there should be a relation between …. The assumption of a perfectly mobile labour (that fits in with the theory with perfect markets) does not fit in with the …

categorization are: positive and normative economics; economic theory and applied economics; orthodox economics (mainstream, dealing …