Competition, Value and Distribution in Classical Economics: Studies in Long-Period Analysis

The essays in this volume explore the classical economists' approach to economic problems, highlighting the renewed interest in this approach in modern times. New material on Sraffa and Marx has led to reinterpretations of their works and ideas, such as the extent of their reliance on classical authors and the relationship between Marx and Ricardo. The classical notion of competition and monopoly is also scrutinized, and misinterpretations are refuted. This volume is essential reading for scholars of classical economics, Marx, and Sraffa, as well as the history of economic thought.

Format: Paperback / softback
Length: 334 pages
Publication date: 25 September 2023
Publisher: Taylor & Francis Ltd

Drawing on the profound insights of Sraffa, Smith, Ricardo, and Marx, the essays compiled within this volume delve into the distinctive characteristics of the Classical economists' approach to economic problems, as well as the resurgence of interest in this approach in modern times. In recent years, a wealth of new material has become accessible, shedding light on the works of Sraffa and Marx, enabling fresh perspectives and interpretations. The release of Sraffa's hitherto unpublished papers and correspondence has sparked a reevaluation of doctrinal questions, such as the extent to which Sraffa drew upon or deviated from the analyses of Adam Smith, David Ricardo, and other prominent figures of the classical British school, as well as Karl Marx. A central theme emerges in exploring how we can, armed with Sraffa's profound insights and analytical tools, re-interpret and develop ideas of classical authors, who were limited in their presentation by primitive forms, on contemporary issues such as technological progress, exhaustible resources, and other pressing matters.

On Marx's account, the publication of the MEGA2 edition of Marx and Engels' works, papers, and correspondence has prompted a reconsideration of this relationship, particularly in light of Marx's disillusionment with certain aspects of his own work and his return to ideas advocated by Ricardo, particularly concerning the long-term tendency of the rate of profits. Furthermore, the classical notions of competition and monopoly warrant careful scrutiny and the refutation of frequent misinterpretations prevalent in the literature.

This volume holds immense significance for scholars engaged in the study of classical economics, Marx, and Sraffa, as well as the broader realm of economic thought history. It also addresses critical issues related to machinery and technical progress, joint production, economic development, and growth. By delving into the rich tapestry of these intellectual traditions, this volume offers a comprehensive and insightful exploration of the complexities and nuances of economic thought, providing valuable insights for scholars and researchers alike.

Weight: 453g
Dimension: 229 x 152 (mm)
ISBN-13: 9780367687069