Abstract
This essay is devoted to a formal reconstruction of two major rival theories of growth or capital economics belonging respectively to the classical and neoclassical schools: they are due to Piero Sraffa and Knut Wicksell. Contrary to the conventional view, we argue that these two theories are closely related and, in fact, in good agreement. More precisely, we show that in a well-defined sense Wicksell’s theory can be reduced to Sraffa’s; and we discuss some of the implications of this for the methodology of economics.
This is a preview of subscription content, log in via an institution.
Buying options
Tax calculation will be finalised at checkout
Purchases are for personal use only
Learn about institutional subscriptionsPreview
Unable to display preview. Download preview PDF.
References
Balzer, W., Spohn, W. and StegmUller, W. (eds.): 1982, Philosophy of Economics, Springer-Verlag, Berlin-Heidelberg-New York.
Burmeister, E.: 1976, ‘Real Wicksell Effect and Regular Economics’, in M. Brown, K. Sato and P. Zaremka (eds.), Essays in Modern Capital Theory, North Holand, Amsterdam.
Burmeister, E.: 1980, Capital Theory and Dynamics, CUP, Cambridge.
Burmeister, E. and Dobell, A: 1970, Mathematical Theories of Economic Growth, MacMillan, London.
Dobb, M.: 1970, ‘The Sraffa System and Critique of the Neoclassical Theory of Distribution’, De Economist, 4, 347–62.
Garegnani, P.: 1960, II capitale nelle teorie della distribuzione, Giuffre, Milan.
Garegnani, P.: 1975, ‘Beni capitali eterogenei, la funzione della produzione e la teoria della distribuzione; Nota matematica’, in G. Lunghini (ed.), Produzione, capitale e distribuzione, ISEDI, Milan.
Hahn, F.: 1982, ‘The Neo-Ricardians’, Cambridge Journal of Economics, 6.
Henderson, J. and Quandt, R.: 1971, Microeconomic Theory, 2nd Ed., McGraw-Hill Kogakusha, Tokyo.
Laise, D. and Tucci, M.: 1980, ‘Note sulla teoria wickselliana del capitale’, Rivista di Politica Economica.
Laise, D. and Tucci, M.: 1981, ‘La teoria del capitale di Wicksell. Una replica’, Rivista di Politica Economica.
Laise, D. and Tucci, M.: 1982, ‘La teoria del capitale di Wicksell. Una ulteriore replica’, Rivista di Politica Economica.
Lippi, M.: 1979, I prezzi di produzione, II Mulino, Bologna.
Mayr, D.: 1981, ‘Investigations of the Concept of Reduction, II’, Erkenntnis, 16, 109–29.
Pearce, D. and Rantala, V.: 1983, ‘New Foundations for Meta-science’, Synthese, 56, 1–26.
Pearce, D. and Rantala, V.: 1983b, ‘A Logical Study of the Correspondence Relation’, Journal of Philosophical Logic.
Pearce, D. and Rantala, V.: 1983c, ‘Logical Aspects of Scientific Reduction’, in H. Czermak and P. Weingartner (eds.), Epistemology and Philosophy of Science, Hblder-Pichler-Tempsky, Vienna.
Pearce, D. and Tucci, M.: 1982a, ‘On the Logical Structure of some Value Systems of Classical Economics: Marx and Sraffa’, Theory and Decision.
Pearce, D. and Tucci, M.: 1982b, ‘A General Net Structure for Theoretical Economics’, in Balzer et al. (1982).
Pearce, D. and Tucci, M.: 1984, ‘Intertheory Relations in Growth Economics: Walras and Sraffa’, forthcoming.
Robinson, J.: 1971, ‘The Measure of Capital: the End of the Controversy’, Economic Journal, 81, 597–602.
Samuelson, P. A.: 1962, ‘Parable and Realism in Capital Theory: the Surrogate Production Function’, Review of Economic Studies, 29, 193–206.
Sraffa, P.: 1960, Production of Commodities by means of Commodities, CUP, Cambridge.
Tucci, M.: 1976, ‘A Mathematical Formalization of a Sraffa Model’, Metroeconomica, 28, 16–24.
Tucci, M.: 1979, ‘La determinazione di techniche ottimali in un modello di Sraffa’, Istituto Matematico: G. Castelnuovo, University of Rome.
Wicksell, K.: 1934, Lectures on Political Economics, Vol. 1: General Theory, Routledge, London.
Author information
Authors and Affiliations
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 1984 D. Reidel Publishing Company, Dordrecht, Holland
About this chapter
Cite this chapter
Pearce, D., Tucci, M. (1984). Intertheory Relations in Growth Economics: Sraffa and Wicksell. In: Balzer, W., Pearce, D.A., Schmidt, HJ. (eds) Reduction in Science. Synthese Library, vol 175. Springer, Dordrecht. https://doi.org/10.1007/978-94-009-6454-9_14
Download citation
DOI: https://doi.org/10.1007/978-94-009-6454-9_14
Publisher Name: Springer, Dordrecht
Print ISBN: 978-94-009-6456-3
Online ISBN: 978-94-009-6454-9
eBook Packages: Springer Book Archive