Munich Personal RePEc Archive Sraffa’s price equations in light of Garegnani and Pasinetti - The ‘core’ of surplus theories and the ‘natural’ relations of an economic system Bellino, Enrico Università Cattolica del Sacro Cuore, Milano, Istituto di Teoria Economica e Metodi Quantitativi 18 December 2014 Online at https://mpra.ub.uni-muenchen.de/60730/ MPRA Paper No. 60730, posted 18 Dec 2014 10:12 UTC Sraffa’s price equations in light of Garegnani and Pasinetti The ‘core’ of surplus theories and the ‘natural’ relations of an * economic system Enrico Bellino Università Cattolica del Sacro Cuore, Milano December 2014
[email protected] English to be revised “Quelli che ti spiegano le tu idee senza fartele capire ...” (E. Jannacci, “Quelli che ... ”, 1975, Italian pop song) Abstract. Within the rich literature that has flowed from Sraffa’s framework of Production of Commodities by means of Commodities a prominent position is occupied by the research programmes carried out independently by two authoritative exponents of this school: Pierangelo Garegnani and Luigi Pasinetti. Certain specific features of their approaches might lead one to perceive them as alternative to one another. Yet, when analysed through a constructive perspective, one discovers not only a common origin and methodology, but also strict complementarity in analysing the main characteristics of industrial systems. J.E.L. classification: B12, B24, B51, D33, E11, E12, E2 Keywords: surplus approach, ‘core’ of a capitalist system, structural economic dynamics, ‘natural system’, Garegnani, Pasinetti, Sraffa, Keynes, post-Keynesians 1. Introduction The ‘modern classical political economy’ is a field of research that has flowed directly from the analytical framework proposed by Sraffa (1960) and from the works of those scholars that gravitated around Cambridge (UK) between the Sixties and the Eighties.