By Bertram Schefold
An try to offer a proper research of joint construction, the textual content of which was once initially the author's PhD thesis. The paintings is designed to steer from the main summary and common innovations of the speculation of price to functions within the components of the dimension of capital and progress, of overseas alternate, and of typical assets.
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Additional resources for Mr. Sraffa on Joint Production and Other Essays
While the first part of Sraffa’s ‘Production of Commodities by Means of Commodities’ received quite considerable attention when the book was first published, the second passed almost unnoticed for some time. The third part on ‘Switching of Techniques’ stood at the centre of the most interesting controversy on economic theory of the 1960s, but the discussion was again focused on single-product industries. The first exception to this pattern was Manara’s article on ‘Il modello di Piero Sraffa per la produzione congiunta di merci a mezzo di merci’ in the Italian journal L’industria, which appeared in 1968.
It will, I hope, be seen that insights can be gained not only regarding the properties and the coherence of the logical structure of the theory, but also with a view towards its application, even if not much space will be given to illustrations of possible applications at lower levels of abstraction.
Now it was a matter of course in either case (Smith and Ricardo) that the value of a commodity could be ascertained only if the proportions of labour, materials and land that went into it, could be identified. Otherwise Smith could not add up the natural prices of the components and Ricardo could not add up the living labour expended and the labour congealed in the materials (land was free at the margin of cultivation). This procedure could not be applied if several commodities were the joint output of any work.