Michal Kalecki and Piero Sraffa

Abstract

Michal Kalecki and Piero Sraffa are not only two of the most successful critics of neoclassical economic theory in the twentieth century, but both approach their respective critiques from an essentially Marxian perspective. Both also, having demonstrated the paucity and logical inconsistency of neoclassical economics, attempted to apply the framework of Marx to contemporary capitalism.¹ However, their analyses and their conclusions can be seen as having very different implications for the Marxian schema.