Sraffian Thoughts in Full Marginalist Dress
9 Pages Posted: 30 Sep 2013
Date Written: November 2013
Abstract
In the single‐products economy considered here, every industry has a constant‐elasticity‐of‐substitution unit cost function; moreover that constant‐elasticity‐of‐substitution is the same for each industry (0 < σ < 1). When this strongly ‘marginalist’ system is looked at from a Sraffian perspective, it is found that some significant properties of the system are not in line with normal marginalist expectations.
Suggested Citation: Suggested Citation
Steedman, Ian, Sraffian Thoughts in Full Marginalist Dress (November 2013). Metroeconomica, Vol. 64, Issue 4, pp. 598-606, 2013, Available at SSRN: https://ssrn.com/abstract=2332949 or http://dx.doi.org/10.1111/meca.12022
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